Why are refinancing rates higher than mortgage rates?

Great question. Ace Watansuparp, Executive Vice President at Citizens Bank, has your answer.  All things equal, refinance and purchase have the same rates. But in a refinance boom with interest rates at an all time low, as we have now, two things tend to happen: 1) Refinance volume dramatically increases. Because purchase transactions have hard deadlines - closing dates, etc. - many times refinances can affect the banks ability to deliver the loans to meet those hard deadlines. Interest rates on a refinance slightly increase to dictate the amount of volume coming in relative to the banks capacity in order to maintain a high level of service on the purchase transactions. 2) We see lock-jumpers. When a client applies for a refinance it is not always guaranteed that the loan closes: – there could be appraisal issues where the value does not come in at the target value. – if rates … Read More.

How difficult will it be for me to find an apartment if I declare bankruptcy?

Question: How difficult will it be for me to find an apartment if I had to declare bankruptcy last year? Answer: The process can potentially be problematic for a renter who has filed a bankruptcy petition;  however one of our experienced agents may be able to show properties where the landlord will be understanding. In this connection, the potential renter needs to be prepared with a few items: 1. A reference letter from their current landlord representing they are good tenants; 2. A creditworthy guarantor to co-sign in the event they default with their rent payments; and 3. Additional security or pre-paid rent. De som skulle vara sublim bör ta en titt på balklänningar sålda Vi erbjuder ett brett utbud av balklänningar. Du kan välja färg, längd, stil, halsen, silhuett, etc. Känn dig fri att berätta din storlek och beställa en … Read More.

In which domestic markets does Douglas Elliman do business?

Q: In which domestic markets does Douglas Elliman do business?   Read More.

What does Douglas Elliman’s relationship with Zillow mean to the homeowner?

Q: What does Douglas Elliman’s relationship with Zillow mean to the homeowner? Read More.

Can I live in one state and sell real estate in another?

  Q: Can you be a certified agent in one state but live in another? For example, certified in New York, but live in New Jersey or Pennsylvania?   Read More.

What does ‘Contract Signed’ mean?

Question: What does ‘contract signed’ mean on some of your listings? Answer: A contract signed means that a written agreement has been signed by both seller & buyer to sell the property. That written agreement may or may not have contingencies, or points to be accomplished before a closing occurs (and if contingencies are not met then the contract may become null & void) and it would also have a closing date which all parties can work toward.

Please tell us about dated colors, new colors and the worst colors to paint the rooms when preparing your home for sale.

Q: Dottie, please tell us about dated colors, new colors and the worst colors. Shannon Read More.

Credit scores are often a point of confusion.. Here is some helpful information

Most real estate professionals would agree that credit scores are often a point of confusion for their clients—buyers and sellers, alike. With so many variations of credit scores available online, it can be unclear which one to pull, or which one bankers will look at when assessing whether a client qualifies for a mortgage. Clients who order the wrong scores are often angry and frustrated that their information does not match what the bank presents, and they can end up losing out on a property as a result. To help our clients and agents avoid this type of situation, below you will see information that breaks down the various types of credit scores and their typical ranges, and gives an overview of which scores are available for purchase, and which scores bankers will use. Managing expectations is key to a … Read More.

Resources in Hurricane Sandy’s Aftermath

Our hearts and prayers are with everyone who has been affected by Hurricane Sandy. We want you to know that Douglas Elliman Real Estate is standing with you, and is here to help throughout the tough recovery ahead. If you need any assistance during these difficult times or have concerns about how the storm may affect buying or selling your home, we are here for you. Email us at ask@elliman.com or call us at 1-800-ELLIMAN. Our spirit is strong and we know that it is times like these that bring us all together. Below is a list of resources for those in need, or those looking to get involved with relief efforts. Be safe and be strong. Emergency Contact Information: FEMA (Federal Emergency Management Agency): 800.621.3362 FEMA Connecticut: 860.256.0800 FEMA New Jersey: 609.963.6900 NYS Office of Emergency Management: 518.292.2200 Nassau … Read More.

Who designed your website?

Q: Who designed your website? It’s awesome! Read More.