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Carl Stars

MORTGAGES READ THE FINE PRINT

11-10-08
Carl Stars

By no means am I an expert on Mortgages. I don't ask Lenders to know every thing about Real Estate. I believe in not trying to be everything to everybody. But there are some basic things you should do when getting a mortgage.

  • SHOP AROUND BUT LIMIT YOUR INQUIRIES SO YOU DO NOT LOWER YOUR CREDIT SCORE.
  • INQUIRE ABOUT PENALTY FEES SHOULD YOU HAVE TO BREAK YOUR MORTGAGE.
  • TRY TO GET A SHORT AMORTIZATION 20 INSTEAD OF 25 YEARS CAN SAVE YOU A BUNDLE.
  • PAY CLOSE ATTENTION TO THE COST OF MORTGAGE INSURANCE, YOU MAY HAVE ADEQUATE COVERAGE FROM YOUR TERM INSURANCE POLICY. ( THIS IS AN IMPORTANT DECISION MAKE SURE YOU HAVE COVERAGE)
  • HAVE A STRATEGY TO STAY FOCUSED AND MAKE EXTRA PAYMENTS WHERE POSSIBLE.
  • LOW INTEREST RATES ARE VERY IMPORTANT, BUT PAY ATTENTION TO THE PRODUCT YOU ARE BUYING. HOW FLEXIBLE IS YOUR MORTGAGE, ( PREPAYMENTS , PORTABILITY, COVERAGE IN THE EVENT OF LAYOFF)
  • CAN YOU REALLY AFFORD THE PAYMENT ( BE HONEST WITH YOURSELF )
  • Read the fine print .... I mean really read the FINE PRINT. I have one client that got stuck with a 7000.00 penalty fee. ( They used there own Lender )
  • Strategy long vs short term, know the advantages of a Variable Rate
  • read the fine print

IF YOU DIDNT READ THE LAST SENTENCE READ THE FINE PRINT . Your Realtor should have several lenders available not just there favorite Mortgage Brokers. I have several Mortgage Brokers and Banks available for reference all that I can refer with confidence.

PRIVATE FOR SALE - success story

10-21-08
Carl Stars

In a diffulcult market people need maximum exposure. This particular home was on the market for a month and did not sell and attracted lowball offers.I listed the home at a higher price and successfully sold the home. Realtors and customers please understand I am not bragging and yes a private sale can be executed successfully.However it is important to realize that when an out town buyer rolls in to town they generally dont look for private sales.They drop in to thier local real estate office and access the multiple listing service through a Realtor that knows the area. When I started in the business I was told in tough times private real estate companies often go under and commissions actually rise. I have already seen incentives of higher buyer agent commisions. Exposure throught Realtor.ca is paramount.More realistic markets are here and in some areas we have extreme markets. I believe in my service and the value of a good Realtor. I am also proud of the many homes I have sold with my clients in the Burlington/Hamilton area. I welcome comments from other Realtors and customers.

www.carlstars.com

THE MARKET IS CHANGING

10-20-08
Carl Stars

Although all markets are changing I can say , if the homes are priced right and staged.. they still sell no negativity for this guy ! Recently I had one investor say where is the bottom , when should I buy ? It is a fact Real Estate is an awesome investment ( long term ) . As a Realtor I encourage my customers to buy a home they love. Of course none of us has a crystal ball, but when you love your home, pride of ownership rings true! You are more focused on your investment and you tend to stay in your home for longer periods. Lots of people have sold there homes and wished they had hung on to them... The markets are tougher in some areas of course, but I am happy to say the Burlington Real estate market remains strong with good fundamentals. www.carlstars.com I welcome feedback from Realtors and Customers!!