Evansville IN Real Estate Blog

Closing Expectations

Written by Mike Reeder, Sales Manager, Broker Associate

As a home seller, it is imperative to build in the proper expectations regarding the time it will take to close the transaction on a home from the time it goes under contract until it closes.

In today's mortgage environment, more documents and information are being requested of the buyer in order to satisfy the lender's requirements to qualify for the loan. This process has become a little tighter, therefore, taking the normal time to close of 30 days and potentially stretching it to 45 days or more.

Having a savvy and competent mortgage lender working in harmony with the buyer and Realtor is critical in order to make the transaction smooth and trouble free.

...

Home Owners See Big Value in Remodeling

Submitted by Rolando Trentini, Broker Associate, ABR, EPro

The do-it-yourself home improvement market has faced a 21 percent drop from 2005-2010, according to the latest research from market researcher Mintel. Yet, that's not due to lack of will on home owner's part, but more about lack of money, according to the survey.

More than a quarter of DIYers surveyed said they would undertake a major home renovation or addition to their home if they had the funds.

Nearly 40 percent of DIYers say that making a major home improvement is the best long-term investment they can make.

However, with the sagging housing market, many home owners have opted to put off major renovation projects, but forecasters are already seeing signs that is changing.

"We forecast growth to accelerate in 2011 and, presuming a stabilization of the housing market, to remain positive through 2015," says Bill Patterson, senior analyst at Mintel. "Pent-up demand, ongoing need for repair and maintenance, retro-fitting, and renovations from boomers approaching retirement and demand from millennials should all propel DIY spending."

Source: http://www.realtor.org/RMODaily.nsf/pages/News2011040106?OpenDocument

...