mortgages buyer agent – Stock Market Rallies Upon Word Of New Home Sales Increase The Successful New Agent Won’t Be Working
Stock Market Rallies Upon Word Of New Home Sales Increase The Successful New Agent Won’t Be Working
Denver, CO—Reuters reported this week that the stock market rallied largely upon news of unexpected increases in home sales throughout the United States. While home prices declined slightly, observers looked to the boost in home sales as a sign that bloated inventories of unsold homes may be beginning to dry up. Lower inventories should bloster pricing, they added, and could indicate badly needed relief in one of the core business sectors contributing to the current recession.
According to Reuters, “U.S. data for February showed new-home sales unexpectedly rose at their fastest pace in 10 months. On Tuesday, The Dow Jones Industrial average (.JI) gained 147.51 points, or 1.93 percent, to 7,807.48. The Standard & Poor’s 500 Index (SPX) rose 13.75 points, or 1.71 percent, to 819.87. The Nasdaq Composite Index (IXIC) added 23.43 points, or 1.54 percent, to 1,539.95. Shares of homebuilders Lennar (LEN.N) and DR Horton (DHI.N) rose 12.4 and 11.7 percent, respectively, while the Dow Jones Home Construction Index (DJUSHB) added more than 7 percent.”
U.S. mortgage applications also jumped last week—partly a reflection of the surge in demand to refinance home loans and partly because of home sales, resales and foreclosure purchases.
But unlike prior markets, buyers today want reassurances that their purchase is a wise one.
Los Angeles magazine’s 2009 Real Estate Issue features a cover story entitled, “Buy Now or Save For Later?” In the lead article, journalist Lesley Bargar asks “Do I still need a real estate agent?”
The answer, provided by Paul Habibi, a real estate lecturer at UCLA Anderson School of Management, underscores the need for Exclusive Buyer Agents saying, “Agents buy and sell for a living; they have more knowledge of legalities and a broader network to draw on than you do. As a buyer, you’re likely to see more properties and learn more about a neighborhood through a smart agent. Sellers benefit, too.”
Buyers especially don’t want to get caught in the trap of subprime mortgages. They don’t want to discover too late that their newly chosen tax districts are upside down a
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nd that essential services will be abated. Instead, says Kimberly Kahl, Executive Director of the National Association of Exclusive Buyer Agents (NAEBA), “Wise buyers are forming a team of representatives—the foremost member of the team being an Exclusive Buyer Agent.” NAEBA is headquartered in Avondale, AZ and every NAEBA member is an Exclusive Buyer Agent, only representing real estate buyers, never real estate sellers.
Historically, real estate agents represented sellers. Agents who are NAEBA members have no dual agenda, explains Kahl. Exclusive Buyer Agents perform a number of functions on behalf of the buyer:
•assist buyers in locating and evaluating property
•negotiating the best price and terms for the buyer, not the seller
•assist in evaluating loans and financing options.
An EBA can also help find competent home inspectors and home warranty companies. Above all, Kahl adds, a NAEBA member Exclusive Buyer Agent offers undivided loyalty and works to protect the buyer’s interests throughout the transaction.
For information, go to www.naeba.org. To contact an NAEBA agent toll-free in the United States or Canada, dial 800-986-2322 or email info@naeba.org and a NAEBA rep will be in contact with you immediately.
By: keegan
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There are several brokers who help people to sell and buy mortgage notes. They match people who want to sell their note with people who want to buy that note. Their professional fee is paid entirely by the note buyer. The real estate notes are today a massive industry, worth more than $400 billion.
Mortgage brokers are independent contractors who usually shop for loan applications amongst lenders to find the most attractive term for a borrower. Mortgage brokers offer loan products of multiple vendors. These multiple vendors are known as wholesalers. The mortgage broker gets paid for his services by the lender.
Mortgage brokers do not lend; they primarily counsel borrowers on the problems involved in qualifying for the loan. Brokers also help by compiling all the documents that are required for the transaction. This reduces delays in the loan processing.
Mortgage notes are usually produced by banks or mortgage companies. The federal government secures these notes. There are several agents who facilitate the sale of existing private mortgage notes or commercial mortgage notes. These agents or service providers can easily arrange for point of sale funding, commonly known as table funding or simultaneous closing. This enables the seller and the agent to offer financing to their buyers, without taking the trouble of securing their bank lines of credit.
While issuing mortgage notes, agents or service providers look at the type of property, location of the property, the way in which the mortgage is structured, and the credit history of the buyers. These elements essentially dictate the guidelines for the valuation of the mortgage note. The more information given to the service agent, the better they can evaluate the right transaction for sellers. To collect information, service providers usually seek information by E-mail, fax or telephone.
Sell Mortgage Notes provides detailed information on Sell Mortgage Notes, Buy Mortgage Notes, Mortgage Note Brokers, Mortgage Notes for Sale and more. Sell Mortgage Notes is affiliated with Atlanta Interest Only Mortgages.
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