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May 2010
Newsletter 49
Despite Mortgage Meltdown, Today’s Borrowers Continue to Spend Twice as Much Time Researching a Car Purchase as Researching Their Home Loan
The impact of the widely publicized mortgage meltdown appears to have caused little change in borrower behavior during the past two years, according to a new Zillow Mortgage Marketplace survey of 2,729 adults conducted on its behalf in April by Harris Interactive. Borrowers report they are spending no more time researching a home loan today than they did in 2008 and those who obtained a loan in the past five years are soliciting fewer quotes- an average of three quotes versus four in 2008.
A home purchase is one of the largest investments most people will make in a lifetime, yet borrowers who obtained a home loan in the past five years typically spent just five hours researching their options, which is unchanged from March 2008.
How Shopping for Title Insurance Can Help You Be More Successful
In the current real estate market, you need every tool available to get would-be clients to sign on the dotted line. Home buyers may be waiting for real estate prices to bottom out so they can purchase more home for their money.
Home sellers may be waiting to list their homes until prices start to rebound. In both cases, you may be able to push a buyer or seller to act now or bridge the difference between the buyer’s offer and what the seller will accept by providing a solution to reduce their closing costs.
For home buyers, lower closing costs mean they can afford more home with their current budget, lower their overall mortgage payments or simply be able to bring less cash to the closing. For home sellers, offering to pay the closing costs for the home buyer can close the deal.
More Realtors Flocking to the NextRE Agent Network
During the Month of April, 8 new Associates joined the NextRE network, raising our licensed agent roster to 73. Please trust and patronize these experienced, professional Realtors for your property buying and selling needs.
If you are a licensed Realtor and interested in knowing why agents throughout Delaware, Pennsylvania, New Jersey and Maryland consider NextRE’s 100% commission program the holy grail of real estate agent programs, please call (877) 994-6398 ext 321, or email at associate@NextRE.com, and let us show you how NextRE will help you excel in your profession.
