Tips for Buyers

I saw this article and thought it was great information to pass onto buyer's. The information is simple, but still an eye opener.

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4 Ways Buyers Can Mess Up a Loan Approval

Daily Real Estate News | Tuesday, January 15, 2013

Your home buyers have gotten approved for a mortgage and now they’re just waiting to make it to the closing table. Make sure they don’t throw their loan approval into jeopardy by making one of these common mistakes:

1. Making a big purchase: Tell your buyers to avoid making major purchases, like buying a new car or furniture, until after they close on the home. Big purchases could change the buyer’s debt-to-income ratio that the lender used to approve the buyer’s home loan and could throw the approval into jeopardy. 
2. Opening new credit: Inform your buyers that now isn’t the time to open up any new credit cards. 
3. Missing any payments: Home buyers need to be extra vigilant about paying all their bills on time, even if they’re disputing one. 
4. Cashing out: Avoid any transfers of large sums of money between your bank accounts or making any undocumented deposits — both of which could send up “red flags” to your buyer's lender.

Source: “How to Keep Your Mortgage Approval Approved,” Realty Times (Jan. 14, 2013)

Fun in North Dakota

I saw this this Hunting and Fishing guide for North Dakota and wanted to share it with you! http://www.ndtourism.com/about/digital-hunting-guide/

New Year, New Resolutions

I am finally back into the swing of things at work. I love the Christmas and New Year's holiday fun, but it seems like it lasted a little longer this year. Thankfully, we avoided the Fiscal Cliff Fiasco for now. I suppose you could say it was a resolution made by Congress. These are a couple of notes that I was able to find that relate to real estate. Real Estate Tax Extenders  Mortgage Cancellation Relief is extended for one year to January 1, 2014  Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012  Leasehold Improvements: the 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.  Energy Efficiency Tax Credit: the 10% tax credit (up to $500) for homeowners for energy efficiency improvements to existing homes is extended through 2013 and made retroactive to cover 2012. Courtesy of the National Association of REALTORS(R) My personal resolutions are general. Live healthier, be more patient, and find that balance in life that everyone is looking for. Overall, I just look forward to a happier and more successful year than the previous and wish the same for you!