More Seller Financing — & More Flexible Terms Sellers Terms: Cash, Contract for Deed, Contract/Deed w/Assumption, Conventional, DVA, FHA –MLS listing I’m seeing lots more listings like the one above. If you don’t speak “Realtor,” here’s a quick glossary: Contract for deed: Buyer makes monthly payments to the Seller, who retains title; title transfers when...Read More
Low Rates . . If You Qualify Last year, I heard that question from would-be Buyers maybe 3 times. This year, I’ve logged that question three times . . . just this week! And that, with mortgage rates plumbing all-time lows: just above 4.5% to those with impeccable credit. Which, of course, is the catch....Read More
On Tap for 2010: Social Media, and (More) Foreclosures and Short SalesNo, I don’t predict the direction of home prices. But housing trends are another matter. Fortunately, if you’re an Edina Realty agent, corporate does that for you (or at least helps). Each year, senior management highlights at the annual meeting — and reinforces during...Read More
Contracts for Deed & Assignable Mortgages Last Fall, Edina Realty’s excellent legal department identified FHA loans and short sales as the two, big looming issues for Realtors to prepare for in 2009. Good call. So, what is Edina legal predicting will be big in 2010? Alternative financing. As in, contracts for deed and mortgage assumptions....Read More
A Price Cut By Any Other Name When is a home price cut not a price cut? When it’s billed as “Seller financing” (or other creative Buyer inducements). In a soft rental market, landlords will do practically anything to entice prospective renters without actually lowering their nominal rental rates. By far the most popular gambit...Read More
