Rob Robertson's Discussions

Hi Bill:You can't shop for a mortgage just by comparing Rates and Fees. More times than not, you'll go with what sounds like the best deal, only to find out at the closing table that your loan terms are no where near what you originally were "SOLD."It sounds like you are a pretty smart consumer, Bill.I personally work as a mortgage planner and work with each and every one of my clients to come up with a strategic plan when selecting the best mortgage options. There is no selling involved (I work for a flat fee based on the amount of work and level of difficulty of your case/loan) as we work primarily with Wholesale Par Rates.The best mortgage is usually NOT the cheapest, or the lowest rate, or the longest fixed-rate term. The best mortgage IS THE ONE THAT FITS BEST INTO YOUR OVERALL FINANCIAL PLAN. If you would like to find out more, feel free to give me a call call for an appointment. Rob RobertsonMortgage Planner951-654-6495CA DRE#01467683

No, you will not receive a discount from the lender/servicer of your mortgage loan. However, you will save by not having to pay any further interest that your are currently being charged.

Refer to your purchase contract regarding what the builder is paying. Typically, the builder can pay "non-recurring closing costs" up to a certain amount, usually capped at a specific dollar amount (example: not to exceed $5000) or a percentage of the sales price (example: not to exceed 3% of purchase price for non-recurring closing costs).Normally, the purchaser of a home, when there is a lender/builder credit involved, is still responsible for homeowner's insurance, any pre-paid interest on the new loan, your share of any title/escrow fees (again, refer to your purchase contract for the details), any property taxes that you might have to pay in advance (each state is different), and for any upgrades/changes that you ordered that were not included in the original contract.When you get closer to signing your final loan documents, you will normally get a call from a Title or Escrow Officer a few days before the signing with the final dollar amount that you would need to be bringing to the closing table. If you made an earnest money deposit (you must have put at least some money on the contract) those funds will be used first before you will be asked to bring any additional funds to the closing.Hope this helps.

Generally, as interest rates increase 1% (each time), approximately 11% of consumers/home buyers purchasing power is lost.So to give you a direct answer to a direct question, "YES," I think that as interest rates dropped, more and more potential homebuyers, including the "shy" or ultra-conservative buyers, may be lured out of hiding and into the active market place to buy an OWNER-OCCUPIED Property.But there is a little more to this current market than interest rates that might be keeping the "shy" would-be buyers away from the market:Keep this in mind: It doesn't matter how low rates are - if the homes are too expensive, the market will prevail and the properties will not sell, regardless of interest rates, until the price is lowered enough to stimulate demand. If a potential homebuyer is thinking about buying a house today, say, for $300,000, but is worried that in 6 months, the property may only be worth $250,000, is that buyer going to wait? Some will, some won't. (Buy Low, Sell High Mentality). The ones who are buying now in my area are buying because of a particular need for housing or to "scoop up" an investment property that's being bought out of foreclosure, at 60 to 70 cents on a dollar (or less).Today's Market: Too Much Supply, Not Enough Demand, Lender's "Tightening their Belts" with more stringent Underwriting requirements. Result: Lots of Houses for Sale (Saturated Market or "Buyer's Market) in most areas, values dropping, borrowers who need to refinance cannot, and are losing their homes in foreclosure (they can't refinance, and they can't sell), yet further increasing the supply of housing.Interest rates are still relatively low, historically, as compared to the last 40 years. It's just that Banks/Lenders are not as liberal with their lending policies anymore.

My concrete contractor (40 years in the business) recommends using white distilled vinegar to get the discoloration out of regular concrete.

My Dad has an attic fan installed in his one story house. It's hooked up to a temperature sensor so that the fan comes on at a certain temperature and automatically turns off once the temperature has dropped by 10 degrees F. The fan blows the air out of the attic, via the existing gable shutter that were already installed when the house was built.Is it worth it? He seems to think so. He claims his A/C runs about 20% less in the summer than it used to without the fan. He's on his 3rd summer in his house.He bought me one for my house, but I haven't installed it yet. Our kit came with an adjustable gable shutter that closes automatically when the fan turns off, but I probably won't use it. The fan itself is 15" in diameter, and comes with everything you need to do the install (except the electrician).:-)

Dave, if your property is in the Seattle, WA area, I would recommend talking to a local real estate appraiser (vs. a local realtor/agent) to find out what improvements would get you the "most bang for your buck" based on your local market conditions against the list of improvements you are wanting to have done.I personally have upgraded my owner occupied home over the past 14 months (in Southern California). The first person I spoke with was my appraiser. She was able to go over what the local market accepts for improvements such as inground swimming pool, RV Access (vs. none), estimated dollar values for adding square footage (we added 145 square feet simply by adding on to our existing lost and closing off the vaulted ceiling area), concrete patios, etc...This gave me a ball-park estimate for what I could expect my property value to be after the improvements were complete vs. not doing them at all, subject to marketing conditions.Best of luck to you!

It's much more common in Europe than in the United States to have the Washing Machine in the Kitchen area (I lived in Europe for 9 years).I thnk "scjobe" hit the nail on the head with his suggestion.Good luck!

Since you already have the house on the market, I would recommend NOT spending any more money on the property, at this time, especially considering the current market.EXCEPTION: If your house smells like pet urine, "smoke," or there is considerable damage to the existing carpeting/flooring, then by all means you should go ahead and replace the flooring. The "Smoke" I am referring to would be from a previous fire in the home, not necessarily from tobacco smoking. If it's pet urine, the subflooring probably needs to be cleaned/treated as well.If you offering a credit for flooring, then that gives the buyers the opportunity to select any type of flooring that he/she might like. That's plenty of incentive for a buyer who's seriously considering purchasing the townhouse.Sure, the home might show a little better with shiny hardwood floors, but a motivated buyer will buy the house with the existing flooring.Good luck!

Mike: I'm assuming your agent wrote up the contract three years ago, before you took possession of the property as tenants. You probably also gave your landlord a "consideration" (non-refundable deposit of $1 or more) in exchange for the option to purchase the property at a pre-determined price at a later date.With the "Rent to Own" or "Lease with Option to Purchase" once the Leasee (Tenant, that's you!) decides to exercise the option to purchase the property from the Leasor (Landlord/Current Property Owner), The Leasee would notify the Landlord in writing that you intend on exercising your option to purchase the property. Refer to your copy of the contract; it should tell you what the requirements are to exercise your purchase option. Usually you need to notify the Landlord is writing.Banks/Lenders will use your rental payment history over the past 12 to 24 months in lieu of a mortgage payment history for "lease option" purchases for mortgage qualification, along with your income and asset information. As far as the mortgage loan is concerned, you can certainly go to your local bank or credit union or any lending institution that you are comfortable working with. If you have lower credit scores you may need some help from a professional that specializes in hard-to-place loans. You may want to consider hiring a "Mortgage Broker" who can help place your loan with one of several lenders that would be able to handle this type of purchase-loan transaction. A Mortgage Broker will be paid a fee for services; however that particular type of mortgage professional will be able to do the research for you and save you countless hours and help you decide which loan programs suits your goals and financial situation best.View my profile if you would like to contact me for more information.