Category Archives: Bedford Corners NY

FHA Audit Leads to Higher Fees | Armonk NY Real Estate

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The results of FHA’s annual audit sent a shock wave through the nation’s housing community Friday afternoon as even agency officials could not confirm that the higher borrowing costs it will charge borrowers will enough to cover losses.

The FHA reported on Friday that its annual audit shows that even if it stopped making any new loans immediately, the agency doesn’t have enough in reserve to cover expected losses on loans already in its portfolio. The result would lead to a $16.3 billion net worth deficit.

The agency announced it will raise premiums and sell delinquent loans as it seeks to avoid taking aid from taxpayers for the first time in its 78- year history, but when asked whether those steps will be enough to overcome the deficit, FHA Acting Commissioner Carol Galante declined to speculate on whether these measures would be enough to keep the agency from seeking Treasury assistance.

“At this point in time, it’s literally impossible to say whether we will or won’t need a draw,” she said during a briefing for reporters in Washington. “We are doing this to increase the likelihood that we will not.” More than 17 percent of all FHA loans were delinquent in September. The agency has lost $70 billion on loans it insured from fiscal years 2007 through 2009.

Most of the FHA’s price increases will go into effect in January. The annual premium FHA charges borrowers in return for guaranteeing loans will rise by 10 basis points on new mortgages, an average cost of about $13 per month for borrowers. The agency also will no longer allow some borrowers to stop paying premiums after 10 years. FHA will also provide deeper levels of payment relief for borrowers who receive loan modifications to avert foreclosure.

In addition, FHA will expand short sales for defaulting borrowers and continue auctioning off at least 10,000 delinquent loans every quarter, urging investors who buy them to take steps to keep families in their homes.

The premium increase comes on top of a significant hike in mortgage insurance premiums and tighter credit standards enacted late last year and earlier this year. The higher costs are driving borrowers who can qualify to use conventional financing, which may be accelerating the deterioration of the quality its portfolio.

Earlier this year, FHA raised upfront mortgage insurance premiums to 1.75 percent of the amount borrowed, due at closing and raised annual mortgage insurance premiums to as high as 1.25 percent a per year. FHA also refused to lend to borrowers with FICO scores below 530 and instituted a 10 percent down payment requirement for those with scores between 530 and 580.

Following implementation of the new policies, use of FHA loans declined. In January, FHA transactions accounted for 27.3 percent of all home purchase transactions. FHA-financed transactions were only 25.9 percent in August, according to the Campbell Surveys/Inside Mortgage Finance Housing Pulse. Ellie Mae also reported that the FHA share of mortgage originations declined, from 29 percent in August 2011 to 17 percent in September 2012. During the same period, conventional mortgages increased their market share of new from 61 to 72 percent.

Higher borrowing costs will affect first-time buyers more than others. FHA mortgages were used by 46 percent of first-time buyers in 2011. In September, the media FICO score of FHA borrowers was 701, according to Ellie Mae, whose software platform processes about 20 percent of all U.S. mortgage originations.

“Conventional mortgages are making a comeback while FHA mortgages are not,” said Thomas Popik, research director for Campbell Surveys in September. “Reasons for the growth in conventional mortgages include low rates, increased underwriting of high LTV mortgages by private mortgage insurers, and a price structure including insurance premiums that is cheaper than the FHA alternative.”

Housing organizations across the spectrum issued statements of concern about the audit. “While there is no doubt that the housing finance system needs to be reformed, the contributions that the FHA has made during this economic downturn underscore the need for a government backstop for both the primary and secondary mortgage markets. In times of crisis, private financial institutions have fled the marketplace and consistently failed to step up to the plate. Without government support for home purchasing and refinancing, the nation’s mortgage markets will grind to a halt, throwing the economy back into recession,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB).

Mike Calhoun, president of the Center for Responsible Lending, said, “FHA has already instituted changes so that its current and more recent loans are projected to generate a profit. Those safeguards, along with the additional changes FHA announced today, should produce the additional revenue that will enable FHA to operate without a subsidy from taxpayers. Further restrictions, however, would undercut the ability of FHA to fulfill its mission.”

Said Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA): “While everyone had hoped for a better report, the news that the Fund has gone negative is not wholly unexpected, as last year’s report predicted there was a 50 percent likelihood this would occur. The characteristics and stresses on FHA’s pre-2010 books of business continue to be the source of losses, while books from 2010 onward are performing well.

“The good news is that the steps that FHA has taken to better manage its risk in recent years have succeeded in vastly improving loan performance on more recent vintages. The industry welcomed many of those changes and believes that policymakers can take further steps that would stabilize FHA single family programs, starting with a rigorous look at the data driving the actuarial results and an open, robust discussion over the future of the government’s role in housing finance.”

“Given the significant role that housing plays in the economy, policymakers need to take a long-term, holistic approach to housing finance reform and carefully gauge how it affects other efforts under way to get the nation’s fiscal house in order and achieve long-term economic growth.”

via realestateeconomywatch.com

The 4-Step Guide to Building Your Authority | Bedford Hills NY Real Estate

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If you want people to visit your blog—and stay there—you have to be an authority figure.

This is definitely true if you are trying to solve a common problem. You have to know and understand what you are talking about.

When people know you’re an expert on a topic, it gives them comfort. They know that they can trust you. They are going to put their faith into you over and over again. That means you cannot fail your readers. They have to be your main focus. They deserve an expert, they deserve great advice, and they’re expecting it from you.

You have to deliver.

How do you become that expert? How do you become that person that they go to for advice and guidance? Here are four steps you can take to help build your authority.

1. Write about something you already know or are willing to learn

This one tip can make the process very easy. You must focus on something you know or are willing to learn.

If you are interested in your topic, writing for your blog will be much easier. If you are already an expert, you shouldn’t run out of things to write about.

If you are an expert, your advice will be sound and your readers will be able to achieve success with the information you provide them. Good advice builds credibility. Your audience will return to you more often if you’ve proven that you are an expert.

You may not be an expert in the topic you choose to write about, but being passionate about it can go a long way. You’ll be learning as you go. You will be able to supply information to your readers about was or was not successful for you. It may take longer to build that credibility, but it is definitely possible this way.

Another benefit of building yourself up to expert status from scratch is that you can relate to your readers. Very recently, you were in their shoes. You are searching for information, just like your audience. You will be able to form a connection that few other bloggers can establish.

Take a look at Darren here at Problogger. He has become the expert on blogs and monetizing blogs. Darren knows his stuff; he has been through it all. He gives out quality posts consistently.

If you take a look at his posts, you will see he speaks with authority. Darren is the authority to anything related to blogging, and people trust him—expert and novice bloggers alike.

2. Speak with authority

This is a huge aspect in the development of your blog. It will definitely keep first-time readers on your blog while keeping long-time readers coming back for more.

If you speak with confidence in the information you are supplying, it will spark your readers’ interest. They will definitely be more willing to try out the advice you’re giving.

How do you speak with authority and confidence? Good question. The biggest point is to watch the words you use. If you use words like might, could, and may, then you are not putting confidence into the information you’re supplying.

If you are giving your readers good information, and they follow the information you give them, then there should be no question that they will be successful. Not only should you be confident, but you should instill confidence into your readers too.

Have you ever visited The Simple Dollar blog? Trent Hamm has emerged as the expert in saving money and creating a stable financial future. Bring up one of his posts on simple money saving tips. As you read, you’ll notice quickly that he knows what he is suggesting works. There is no question in his mind.

He gives you specific examples. He tells you that if you do X then you will save Y. No maybes, no mights, no coulds: only results. That’s what people want—results. They want to know that if they do what you say, they will have success. Trent does a great job of this.

3. Speak from experience

If you are giving your readers advice, then you’d better have tried it out yourself first. The easiest advice to give is advice on what has or hasn’t worked for you. You have to give your readers information that you know works.

If you speak from experience, not only will your information be more detailed, it will also be more reliable. This is a great way to establish credibility.

Readers love to hear about your experiences, too. This adds a personal level to your writing. And so your credibility builds, because your readers know that you tried each piece of advice you are sharing with them. Besides, how can you be confident in something you’ve never tried?

The first time I visited Life Without Pants, I was hooked. Matt Cheuvront shares his life experiences on overcoming challenges and working towards goals. Not only does Matt do a great job of describing his experiences, he’s great at making the lessons he learned relevant to his audience. This is powerful, because he is doing two things.

First, he’s sharing his experiences, which most audiences love. We all love a good story. He also gives the reader something to walk away with and incorporate into their lives. Whether it is a philosophy or a specific action, Matt is giving his audience usable information from his own experiences. That’s pretty powerful!

4. Be honest

If your give information that’s supposed to help your readers, but it doesn’t, think about how bad you’ll look. Those who give out bad information do not tend to last in blogging. People can tell very quickly whether or not you are lying.

Real experts will also know when you are lying. If you have a comments section, they will point out how wrong you are very quickly. You can’t just post something telling people it will help them of you really don’t know if it will. This is a big credibility- and authority-killer.

Don’t take an article written by someone else and market it as your own. This is another huge issue that will kill your authority. Come up with your own unique material. People want new and useful information. If you steal other people’s work, you will lose all respect from the blogging community.

Blogging is all about building relationships with readers and other bloggers. Taking others’ content will make others never want to work with you. It will forever tarnish you and your brand and. Keep it honest and your authority will soar.

Neil Patel at Quicksprout is well-respected around the blogging community. If you have never heard of him, just visit Quicksprout and see how popular his blog is. Neil has had his share of successes and failures. He makes that very public. He is also very open about things that do and do not work.

He has established himself as an authority figure as a result of this. His posts are honest and genuine, and include loads of valuable information. Model yourself after Neil and be honest and helpful when you write. You’ll have a following similar to his, active and hungry for knowledge!

Are you an expert?

Well there you have it. These are four ways of increasing your authority and expertise. If you practice these tips regularly, people will learn that they can trust you and the information you provide. They will come to you more often for the information they need.

Become an authority figure and success will find you!

via problogger.net

What happens to your taxes if we go over the fiscal cliff | Bedford Corners NY Real Estate

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If you’ve been paying any attention to the news, you doubtless know that the United States is rapidly approaching a “fiscal cliff.”

This is the date that various tax cuts and benefits enacted over the past 11 years are set to expire. That date is Jan.1, 2013.

It’s quite possible that President Obama and Congress will come to some agreement before Jan. 1 and extend at least some of these tax cuts.

However, it seems equally possible that they won’t.

What happens as of Jan. 1 if no deal is reached and we plunge off the cliff? Your taxes are going to go up.

The following handy chart shows what will happen if the most important of these tax provisions expire.

Expiring provisionEffect if not extended
Increase in size of 15 percent rate bracket for married couples to double that of unmarried filersThe current 15 percent rate bracket for married couples filing jointly (200 percent of the deduction for unmarried individuals) will be reduced to 167 percent of the deduction for unmarried individuals. As a result, low-income and middle-income two-earner couples will owe more to the IRS than they would if they were single making the same income.
Reduced capital gain rates for individualsCapital gains will be taxed at a 20 percent rate (increased from the current 15 percent rate).
Dividends of individuals taxed at capital gain ratesDividends received by individuals will be treated as ordinary income and taxed at top income tax rate rather than as a capital gain, currently 15 percent.
10 percent individual income tax rateThe 10 percent income tax bracket will be removed; the lowest income tax rate bracket will then be 15 percent
Tax rates in top four bracketsTax rates in the top four brackets will be increased to (from current rate): 39.6 percent (35 percent), 36 percent (33 percent), 31 percent (28 percent), 28 percent (25 percent).
Increase in standard deduction for married couplesThe standard deduction for married couples (currently 200 percent of the deduction for singles) will be reduced to 167 percent. As a result, low-income and middle-income two-earner couples will owe more to the IRS than they would if they were single making the same income.
Repeal of overall limits on itemized deductions (the “Pease Limitation”Limits on itemized deductions will be restored (currently, there is no limit on allowable deductions). The total amount of itemized deductions will be reduced by 3 percent of the amount by which a taxpayer’s adjusted gross income exceeds a certain threshold. As a result, high-income households may not be able to take some itemized deductions.
Repeal of personal exemption phaseoutUnder present law, the amount of a taxpayer’s personal exemption is not phased out. A phaseout of personal exemptions will be restored in 2013 for taxpayers above a certain threshold. As a result, high-income households may not be able use personal deductions in full.
Decreased estate, gift and generation-skipping transfer taxReverts to pre-2001 levels. The estate and gift tax exemption level will be decreased from $5 million to $1 million, while the top tax rate will increase from 35 percent to 55 percent.
Alternative Minimum Tax inflation adjustment (“AMT Patch”)An additional 28 million taxpayers will be subject to the AMT because the amount of income exempt from the AMT would revert back to $33,750 for single taxpayers and $45,000 for married couples filing jointly, down from $48,450 for single taxpayers and $74,450 for married couples filing jointly for 2012.

How much this will cost you in additional taxes for 2013? It depends on your income. The Tax Policy Center, a joint venture of the Urban Institute and Brookings Institution, has calculated that households in the lowest 20 percent of earners would pay an average of $412 more than in 2012, and that middle-income families would pay about $2,000 more. The top 20 percent of earners would pay an average $14,000 more, and the top 1 percent $121,000 more.

via inman.com

Breaking lease over pest control spraying | Armonk NY Homes

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Q: My state requires landlords to disclose to prospective tenants whether the property is serviced by a commercial pest control for rodents. My landlord failed to do that, and when I learned of it, I was very upset. I don’t want to live in a place that gets sprayed every month, but the landlord won’t let me out of the lease. What can I do? –Marly

A: Many states require landlords to make specific disclosures to the tenant about the property before the tenant is asked to sign the lease. The federal government, too, has weighed in by requiring disclosures about known lead-based paint and lead-based-paint hazards. The purpose of these disclosures is “buyer beware.” A tenant who reads them and doesn’t like what he sees can walk away from the lease, without ever having signed it.

So you’d think that if the landlord fails to deliver the disclosure, it would only be fair that the tenant be able to walk away after he’s signed the lease, too. But such is not the case with every disclosure law.

In California, for example, which has a similar provision regarding periodic pest control, the statute does not specify that failure to disclose will entitle the tenant to consider the lease at an end, with the option of moving out without responsibility for future rent. If you are having pest problems in your environment, contact Emergency Pest Control Vaughan operating in Markham to have them solved using the highly skilled exterminators paired with low toxicity pesticides.

But even if “lease over” is not an enumerated remedy in the disclosure statute, you may still have a way to get out. You would argue to a judge that you signed the lease under the misapprehension that there would not be pesticides applied regularly to the property; that had you known this, you would not have become a resident; and that only the landlord and the boca raton pest control company could have given you the information you’d need. Most importantly, you would have to convince the judge that this piece of information is important, not just a minor detail that shouldn’t derail a proposed tenancy.

So, how will all of this theory unfold in practice? If you move out, your landlord will need to find another tenant. In most states, until he does, you’ll be on the hook for the rent. Landlords commonly keep the entire deposit at least, so to recover it, you’ll have to sue in small claims court. That’s where you’ll make your argument, and if the judge agrees, you should get the deposit back.

Q: An elderly lady in one of our rental units passed away after a long illness. We have secured the apartment, but no one has come forward to claim her belongings. What should we do? –Martin and Margo

A: Surprisingly, few states have laws on the books telling landlords what to do in such a situation. Here are a few examples:

  • In Arizona, New Mexico, Oklahoma and Texas, landlords may ask tenants for the name of someone whom they authorize to act (landlords may do so in a lease clause, for example). In New Mexico, Oklahoma and Texas, if the tenant hasn’t provided this information, the landlord has basically no safeguarding obligations.
  • Oregon has a much better approach: Tenants can name someone in their wills to be their personal representative (or a court can appoint someone); that person has the same rights as the tenant, and may take the property.
  • In Virginia and North Carolina, if no one is authorized by the court, the landlord must notify the person who was the tenant’s “emergency contact.”

Landlords in states that have not passed specific laws on what to do must proceed cautiously. You don’t want to give access to people who might loot the estate; but you don’t want to endlessly store personal property either. And you risk liability if you dispose of belongings on your own.

Your best bet is to contact the probate court in your city and explain that no one with authority (no one bearing documents signed by a court, establishing that person as a legal representative of the estate) has come forth. Chances are, you’ll find a helpful clerk who can tell you the practice in your state.

via inman.com

Falling REO inventory dries up foreclosure discounts | Bedford Hills NY Real Estate

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Some metro areas across the U.S. are experiencing steep discounts on foreclosed properties – upwards of 27% in some cases – but the overall mark-down is not as deep as it seems, Zillow said in a new report.

The online real estate listing firm said the national-foreclosure discount on distressed properties is about 7.7%, a paltry amount considering how much lower REOs sell for in certain locales.

Truth is, there are fewer foreclosures out there. Last month, RealtyTrac the online marketplace for foreclosures, reported a yearly decrease in 131 out of the nation’s 212 metropolitan areas.

“Two-thirds of the nation’s largest metros posted decreases in foreclosure activity in the third quarter, indicating that most of the nation’s housing markets are past the worst of the foreclosure problem” said Daren Blomquist, vice president at RealtyTrac.

Zillow uses a different methodology, of course, and compares the sales price of a foreclosure to the estimated-non-distressed sale level of the exact same property.

Metros like Pittsburgh and Cleveland experience foreclosure discounts as steep as 27.4% and 25.8%, respectively.

“The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability,” said Zillow chief economist Stan Humphries. “Additionally, in areas such as Phoenix and Las Vegas, where not long ago one out of every two homes sold was a foreclosure re-sale, buying a foreclosure is no longer just for investors.”

Sacramento is a market where the foreclosure discount is a small 0.7% difference from an average property price.  In the high-priced Los Angeles and New York markets, foreclosure discounts are now running at 4.2% and 15.5%, respectively.

Denver is another market where housing demand is keeping up, and it’s foreclosure discount hovers around 6.4%, which is under the 7% national average.

via housingwire.com

Mortgage applications shoot up 12.6% after hurricane rebound | Bedford NY Real Estate

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The number of mortgage applications filed for the week ending Nov. 9 shot up 12.6% as Northeast consumers returned in the wake of Hurricane Sandy, according to the Mortgage Bankers Association.

The refinance index alone grew 13% from the previous week while home purchases rose 11%.

“Following the decrease in applications two weeks ago due to the effects of superstorm Sandy, mortgage applications in many East Coast states rebounded strongly this week,” said Mike Fratantoni, MBA’s vice president of research and economics.

“Application volume in New Jersey more than doubled over the week, while volume in Connecticut and New York increased more than 60%. In addition to the rebound in the states impacted by the storm, the 30-year fixed mortgage rate reached a new record low in the survey.”

The average interest rate for a 30-year, fixed-rate mortgage with a conforming loan balance declined to a low point of 3.52% from 3.61% a week earlier.  The 30-year, FRM jumbo declined to 3.83% for the same week. In addition, the 30-year FRM backed by the Federal Housing Administration declined to 3.34% from 3.37%

The average 15-year, FRM fell to 2.88% from 2.95%, and the 5/1 ARM edged down to 2.60% from 2.61% last week.

kpanchuk@housingwire.com

via housingwire.com

Facebook Real Estate Pages: 30 Day Challenge! | Bedford Corners Real Estate

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Too often I see a “Facebook graveyard” – Facebook pages created by real estate agents with the best of intentions but unfortunately they are left to die from lack of attention. Most Facebook business pages that are run by agents have one common problem: lack of consistent content.

Most agents (and brokers) will post sporadically; one article on Monday, nothing for 3 days, a photo on Saturday, nothing for a week, a link to a video on a Monday, nothing for 3 days. And then they wonder why they don’t see the ROI from Facebook.

If you’ve listened to any of my presentations at Agent Reboot or my webinars, you know first-hand how important I think a content strategy is to your social media plan.

So here is the challenge to ALL of you who are reading this who have a Facebook business page.

  1. Go to your business page today. Take note of how many likes, comments and shares you have. Write it down or document it somewhere digitally.
  2. Make a commitment to post one piece of content to your Facebook business page daily for the next 30 days. Every day, Monday through Sunday, post just one piece of content. Remember a piece of “content” could be as simple as a link to an article from Inman News or an Instagram photo of the neighborhood you work in. The key here is consistency – every day for 30 days. The other key is to post during “prime time:”  7-9am or lunch time. In fact, here is one simple way to create 30 days worth of content in just a number of hours.
  3. Set aside $100 and create a Facebook ad to run for four days with a maximum per day spend of $25. Create Sponsored Stories – these are ads that say “so and so liked” (your page). The goal here is to build likes to your Page and thus increase engagement and conversation.
  4. At the end of 30 days reevaluate your likes, comments and shares. Are you getting more interaction?
These are just a few simple things you can do to jump-start your social presence. The key here is to post every day for 30 days. With the Facebook “scheduling” feature for Pages, there is really no excuse for missing a day.
I’d love your feedback – will you take me up on this challenge? Leave me a comment below!
via next.inman.com

Evernote for Real Estate – A sneak peak at Evernote 5 | Armonk Real Estate

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My self-diagnosed, borderline OCD loves every single thing about Evernote. I use it every day in both my work and personal life. So, earlier this week, when I received this little email from the crew at Evernote, excitement doesn’t even begin to express how I feel. Over a hundred new features? I’m in!

Evernote 5 Coming Soon

What’s new?
The design nerd in me loves the redesigned interface and new left panel. If you’re a paperless agent and use Evernote to organize all of your clients and paperwork, the added shortcuts and advancements in viewing both your own and shared notebooks together should make streamlining even more efficient.

TypeAhead search is new as well. It will give you suggestions as you’re typing and also pull up your most recent and saved searches for easy access. They’ve also integrated Mountain Lion’s notification center.

For those of you who use Evernote Food and Hello, those are being integrated as well in their new Atlas feature allowing you to visually see your notes and remember where you were when you took them!

Just getting started with Evernote? No problem. These are a must!

1. Download the web clipper for your browser.
Whatever browser you use (even IE, I’m not here to judge) download this extension. Any website you’re visiting you’re able to clip with just one click. It automatically saves it to your notebooks in your Evernote account.

2. Evernote is everywhere.
Since you’re able to access your Evernote account anywhere, download the app for your mobile devices too! Although the latest updates will be for Mac, Evernote works on Android, Blackberry and Windows devices as well.

3. Go paperless!
It’s scary, I know. Just take baby steps and work your way through it. Evernote has many uses, so start at your own pace and grow with it. Some basic starter ideas:

  • Personal productivity: Type notes during meetings, keep personal and private checklists, save web clippings, photos, files and more.
  • Transaction Management: Keep client’s records, inspection reports, emails, signed documents during and after the transaction. You have the option to share with your clients and keep them in the loop at all times.
  • Checklists and action plans: From listing coordination and seller action plans, closing checklists, and even marketing plans, staying organized and having your information at a glance is key to systemizing your entire business.
  • Share notebooks with clients and team members: Do you manage a team? Have buyer’s agents? An escrow coordinator? Set up notebooks just to share with them, and have them do the same. Embracing the digital lifestyle works great for teams too!
  • Syncs across all your devices so you have everything available: As a mobile professional the ease of having everything sync together is a must. Upgrade to the pro account and you have access even if you’re offline.
Already using Evernote? How do you use Evernote to help keep you organized? Let us know and we’ll share them on Twitter!


via next.inman.com

How to Make Sure ‘The One’ Doesn’t Get Away | Bedford NY Realtor

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Do you ever pause and think about the one that got away? Maybe it was the charming craftsman that had everything you wanted, except the huge walk-in closet. Or perhaps you’re still smitten with the cute bungalow that you flirted with for weeks, only to make up your mind one day too late.

In your home search, you must be sure there are no regrets and that your perfect match doesn’t wind up in the hands of another buyer. You’ll be disappointed if you lose the property of your dreams because you got cold feet.

So what do you need to do in order to get your fairy tale ending?

Dollars and cents

Whether you’re paying cash or getting a mortgage, you must be prepared to show what you’ve got.

Proof of funds and pre-approval letters should be given to your real estate agent immediately so that the information is on file and can be submitted with your offer. Remember, getting your financials may take a day or two, and you certainly don’t want to miss out on securing a home due to lack of preparation.

Love or lust?

Is it true love or just a fling? Make sure the home fits your wants AND your needs. The upgraded granite countertops and hardwood floors may look great, but can your family of five really live comfortably in only 900 square feet?

You’ll likely have to compromise on some things, but keep in mind that with houses, just like people, you’ll know when there’s “marriage potential.” These properties meet nearly all of your long-term needs, and their flaws are minor irritants rather than deal breakers. No home is perfect, so if all the important features are there, you’ve got to go for it.

Seal the deal

If you think it’s a good catch, so will someone else.

Given the low inventory of properties in many markets across the nation, your dream home might be as popular as Prince Charming on ball night. This can lead to bidding wars among several buyers.

How will you compete? Know what you want, determine how much you’re able to spend and take a page from Cinderella — find yourself a fairy godmother (a real estate expert) to guide you through the purchase process.

Don’t let another buyer walk away with your beloved!

via zillow.com