Monday, October 12, 2015
Friday, October 2, 2015
If you haven't heard the new changes coming our way in real estate, maybe it's just because you're not in the real estate business, but this can have an impact on you if you are thinking of buying or selling any time in the near future. There are some new regulations that will be in place starting tomorrow that came from the Consumer Protection Act that was signed into law in 2010. This new regulation is called by another wonderful acronym that we in the industry will start throwing around but let's call it "Know Before You Owe". Without getting into too much detail, this new change will cause most buying periods to move from a normal 30 day transaction to 45 or more, at least for a while. "Know Before You Owe" helps buyers to more clearly see what all their costs are going to be when purchasing a home. But at least for a while, loans will be a bit tricky, times to buy and sell could possibly be longer and because of this, deals may be a little less stable. So my best advice is to work with a lender that you either know very well that has a great deal of experience or ask your realtor for a referral for a lender. Also, make sure you are working a realtor that is on top of these changes, which is where I say, "Feel free to call me anytime. I would love to help you in buying or selling your home"