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NO Earnest Money Refund

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important and misunderstood parts of the home-buying process. Depending on location, home buyers can expect to put down anywhere from 1% to even 10% of the real estate purchase price as earnest money. You waived your contingencies In highly competitive markets, it’s...

How Many Homes Does the U.S. Need to Catch Up?

Why is the inventory of for-sale homes so tight? A new analysis by Freddie Mac found that supply will meet demand only if the U.S. adds 3.8M new homes. The housing need now is 52% greater than it was in 2018, just three years earlier – and it’s even worse for entry-level homes. The figures underscore the severity of the housing deficit, which is a major factor fueling the current red-hot housing...

6 Reasons this isn’t like 2003-2007

1. Mortgage standards are nothing like they were back then. During the housing bubble, it was difficult not to get a mortgage. Today, it’s tough to qualify. Recently, the Urban Institute released their latest Housing Credit Availability Index (HCAI) which “measures the percentage of owner-occupied home purchase loans that are likely to default—that is, go unpaid for...

Real Estate Expert. The Best Advice…Not Perfect Advice

As we approach the anniversary of the hardships we’ve faced through this pandemic and the subsequent recession, it’s normal to reflect on everything that’s changed and wonder what’s ahead for 2021. While there are signs of economic recovery as vaccines are being issued, we still have a long way to go. It’s at times like these we want exact information about anything we’re doing. That...

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