Every Weekend Is Open House Weekend!

ACCORDING TO JIM WEICHERT, 

EVERY WEEKEND IS OPEN HOUSE WEEKEND

MORRIS PLAINS, N.J., May 8, 2013 -- During the last weekend in April, the National Association of REALTORS (NAR) held its annual Nationwide Open House Weekend. The purpose of the event was to encourage Realtors throughout the country to host as many open houses as possible. The event was a success. In fact, Weichert, Realtors alone hosted more than 3,100 open houses that attracted more than 21,000 homebuyers in the areas where it operates company-owned offices.

“While a special weekend for open houses is great, I believe wholeheartedly that every weekend is a great weekend to hold an open house,” said Jim Weichert, president and founder of Weichert, Realtors. “That’s why open houses are an integral part of our marketing strategy at Weichert. For as long as I’ve been selling homes, I always tell people that if their home is on the market, they need to consider holding an open house as often as it is possible. That’s how they’ll get their house sold."

According to Weichert, Realtors’ internal statistics, nearly 1 million potential buyers attended Weichert open houses last year, and historically one out of every three Weichert open houses leads directly to a sale. An open house gives potential homebuyers an up-close and personal look at the property for sale, and allows them to make a connection with the home. Once they’re there and imagining themselves living in the home, buyers are immediately more emotionally invested.

“If you don’t have a home to sell, but are looking to purchase one, open houses are also a very effective search tool," continued Weichert. “Open houses offer the opportunity to see numerous homes on the market in a short period of time. Buyers who already know the neighborhood that interests them and their price range can hone in on the specific homes that meet their requirements. For those who are just starting their home search, open houses are an excellent way to explore a variety of neighborhoods, home styles and price points all in one afternoon."

According to Weichert, even if you are not currently in the market to purchase a home, open houses provide an opportunity to speak with a real estate sales professional to learn more about the local market, discover the benefits of homeownership and gain an understanding of the homebuying process.

To find open houses in your area, visit www.weichert.com/openhouse, where you can also create an open house tour, get turn-by-turn directions or a printable list of the homes and addresses.

About Weichert, Realtors

Since 1969, Weichert, Realtors has grown from a single office into one of the nation's leading providers of homeownership services by putting its customers first. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. Weichert leverages its customer website,www.weichert.com, one of the most visited real estate websites in the nation, to help families and individuals realize the dream of homeownership through quick and easy access to listing information and the services of its real estate professionals nationwide. For more information, Weichert's customer service center can be reached at 1-800-USA-SOLD. Weichert franchised offices are independently owned and operated.

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Join Me In Welcoming A New Sales Associate

I am pleased to announce that Laura French has joined our Sales Team in Portsmouth, NH and look foward to working working with her - If you or someone you know is considering a change in career or looking for a new office to Affiliate your license with, We are looking for New and Experienced Sales Associates to join our team. We serve the MA, NH & Maine Seacoast areas.  If you are thinking about getting into Real Estate for the first time, feel free to contact me for more information.  You might like joining our team!  

 

  Look out Atlantic City, Here I come!  As you know I am affiliated with Weichert REALTORS Points East Yankee Trader in Portsmouth, NH an Independently Owned and Operated affiliate of Weichert.    Weichert has nearly 18,000 sales associates in more than 500 company-owned and franchised sales offices in key markets throughout the U.S." A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance.    And in just a couple of weeks Associates from 500 offices around the country will be converging on Atlantic City for Weichert's Annual Convention.   This is what we do!  We are dedicated to providing the best possible services to our clients and customers and the opportunity to gain new skills and tools is one thing Weichert has a handle on!     So when you are in the market for a new home, or perhaps selling one, OR know of someone selling or buying - Please - Give us a call!    And look out Atlantic City - Here I come! 

Buying a Home With Less Than 20% Down? Might Want To Buy Now!

FHA Mortgage Insurance Premium Changes

A new premium structure for FHA-insured single family mortgage loans was recently announced.* Beginning April 1, 2012, all FHA mortgage applicants will be subject to new fees. The up-front mortgage insurance premium, which is currently 1 percent of the loan amount and can be financed into a borrower’s loan, will increase to 1.75 percent of the loan amount. The FHA estimates that the increase to the upfront premium only will cost new borrowers an average of approximately $5 more per month.

In addition, the annual mortgage insurance premium that currently stands at 1.15 percent of the loan amount (for loans with more than 95% LTV) will increase to 1.25 percent, for loans up to $625,000. Additional increases are planned for loans above $625,000 effective June 1, 2012.

Taken together, these premium changes will enable the FHA to increase revenues at a time that is critical to its ongoing ability to remain a valuable option for low- to moderate-income borrowers.

If you have been contemplating purchasing a home with less than 20% down, You may want to fast track that purchase now to avoid possible increases in MI (Mortgage Insurance) fees.  Plus Interest rates are incredible right now, home prices are more reasonable and really - What are you waiting for?

Call your Bank or Mortgage Broker today to get pre-qualified for a home loan.  Then call a Professional Realtor to find that perfect home!  Or call me and I will put you in touch with several local lenders.  


*Information provided is based on the initial FHA announcement made February 27, 2012, and is subject to change. The FHA will publish the final mortgagee letter on the matter very shortly.

Are You Prepared To Put 20% Down For A Home Purchase?

In July of 2010, President Obama signed into law the Dodd-Frank Wall Street Reform  and Consumer Protection Act -   The name Dodd-Frank... comes from the original proponents of the act (Barney Frank - House of Representatives/(d) MA - and, former Senant House Banking Committee Chairmen Chris Dodd /(d) CT.

- Among the many sections of the Act is - Title XIV - Mortgage Reform and Anti-Predatory Lending Act, which directly affects consumers who desire to purchase real estate and finance that purchase.  And one of the items includes something called "QRM" Qualified Residential Mortgage - in essence it could mean that consumers will have to come up with 20% down to purchase a home... Ouch!  Just consider what it would take to save 10% down (with a median income of   $47,732) - 10 YEARS*! - (*assumes 5.2% savings rate, all for home purchase (i.e .none for retirement, college or repairs) - what would that be for a 20% downpayment? 

The National Association of Realtors is actively working to curb the QRM rule - Please watch this video -

QRM  

-  Interest rates are incredibly low right now,  if there were ever a time to buy, it would be now. And hopefully with the efforts of organizations like the NAR, this aspect of the Dodd-Frank...act, we won't see this QRM rule become a reality!