For Sale By Owner Pricing Dangers For Staten Island NY Sellers

Sellers normally evaluate listing a property on their own with the sole intention of saving money. Experience has proven that it may actually result in less savings than hoped,... for sale by owner pricing dangers for Staten Island NY sellers. Below are a few things for sellers to consider before deciding sell their own home. Proper Pricing The real estate market is continually changing. Pricing can impact market time, what price it sells for in the end, and whether it sells at all. Real estate professionals have the knowledge and experience to help homeowners with listing price based on the particular property, location, and desired timeline, and to adapt pricing as necessary for fluctuating market conditions. Property Comparisons It all starts with picking comparable listings. Sellers generally commit several errors at this step. 1. Considering the value of homes in the neighborhood from years past. 2. Referring to the value of their own home from a previous market analysis. 3. Selecting varying styles or types of homes (i.e. comparing a ranch to a colonial). 4. Pulling up active listings that are incorrectly priced or not moving. Referencing incorrect listings for comparison will result in incorrect values and typically overpricing. Adjustments to Value Another aspect of pricing is applying adjustments for varying amenities. It is nearly impossible to come acorss two identical listings, so changes are generally calculated for interior space, amount of land, and features such as garages, bathrooms, fireplaces, condition, and upgrades. Sellers tend to reference the price spent on upgrades. However, the market value of most repairs do not often match the price paid for them. In fact, some expenses will not add any value. Real estate brokers are educated on what appraisers may calculate for adjustments and will calculate those accordingly for pricing. For Sale By Owner Pricing Dangers For Staten Island NY Sellers Incorrectly priced homes can cost sellers considerable energy and money. Listings may sit on the market with no activity or with interest from buyers that are strictly wondering why the price is so high. additionally, buyers have a negative view on properties that have been marketed for extended time frames and are likely to pay less even if the price is later reduced. In a declining market, a home can naturally drop in value by the time it actually sells. All of this leads a for sale by owner home to go for significantly less than it may have with the proper help of a real estate professional. That expense can be higher than what a seller estimated to save by doing it alone. This For Sale By Owner Pricing Dangers For Staten Island NY Sellers information was published by Gregory Diaz and Gina Guerriero at S.I. Premiere Properties.

Streamline Refinancing VA Loan Programs In Staten Island NY

Borrowers with VA mortgages have the option to easily refinance to a reduced interest rate through a special program. This is often called IRRRL which stands for Interest Rate Reduction Refinancing Loan. Any VA approved mortgage company can assist with this program. Below is an overview of streamline refinancing VA loan programs in Staten Island NY. Benefits of VA Streamline Refinancing An appraisal, credit check, and closing costs are not mandated by the VA, although there is a loan funding fee payable. These are the most significant benefits of using the program. However, some lenders will include an appraisal or credit check as part of their own financing criteria. Closing costs are usually billed by mortgage companies, but the types and amounts may vary from one mortgage company to another. The VA allows their funding fee and any lender closing costs to be added to the loan so that homeowners can refinance without spending any money out of pocket. There is also an option to roll in the expense of energy improvements for the home. Qualifying for a Refinance For streamline refinancing with this program, the existing mortgage must be a VA loan. The interest rate on the new loan must also be lower than that of the old loan (the one exception to this guideline is when refinancing from an ARM to a fixed rate). Homeowners are not allowed to receive any proceeds from the refinance of the loan and no other loan, other than the original VA loan, may be included in the new loan. Veterans must also verify that they have occupied the real estate as a primary residence. More qualification criteria can apply based on individual lenders. More on Streamline Refinancing VA Loan Programs In Staten Island NY Homeowners with VA loans may return to their existing loan company or use a new one. Many mortgage companies are VA approved and can help with streamline refinancing. The above information is offered only as an introduction. This information is considered accurate but is not guaranteed. It was gathered based on information available at the time the article was written and is subject to change without notice. Always speak with a local consultant for current information and guidance. For a list of companies offering streamline refinancing VA loan programs in Staten Island NY, contact Gregory Diaz and Gina Guerriero at S.I. Premiere Properties at 718-408-1499 or gregdsells@aol.com.

Benefits Of VA Loan Programs In Staten Island NY

Veterans may obtain VA loan programs provided by private lenders but guaranteed by the VA. The guarantee protects mortgage companies from loss up to a certain amount should a homeowner defaults on the loan. With this guarantee, mortgage companies are able to provide veterans options not readily obtained through other financing. The following is an overview of the benefits of VA loan programs in Staten Island NY. Benefits Of VA Loan Programs In Staten Island NY The best features of VA loan programs are the options for no down payment and no mortgage insurance. Buyers can finance the full price of a home being purchased, assuming the appraisal supports the figure and the individual lender does not require otherwise. VA loans also allow veterans to purchase a property by eliminating the added cost of mortgage insurance, which is typically required in home loans with less than twenty percent down. Other important benefits are... •Similar closing costs to other loans. •VA mortgages are assumable. •No pre-payment penalty. •Ability to finance or reduce the VA funding fee for the home loan. Obtaining VA Loan Programs To obtain a VA mortgage, buyers must meet several criteria. The first set involves their actual service - when time was served, type of service, and amount of time served. The second set involves the normal credit report and financial considerations by mortgage companies. Veterans may contact any mortgage company offering VA financing to confirm eligibility and obtain a pre-approval. With a pre-approval in hand, veterans may then begin viewing homes within their price range. Once a listing is selected, an offer should be submitted contingent on VA financing approval. With a purchase contract, buyers can then submit an actual application and lock in an interest rate. Once the loan is approved, the next step is the closing. After closing, the loan is reported to the VA. Veterans can only have one current VA mortgage at any given time. This article is merely a brief overview of the benefits of VA loan programs in Staten Island NY. To be referred to a local mortgage company providing VA loan programs, contact Gregory Diaz and Gina Guerriero at S.I. Premiere Properties at 718-408-1499 or gregdsells@aol.com.