Is Fear of Rejection Keeping You from Buying a Home?

Is worrying over the mortgage process keeping you from buying a new home? Is fear of rejection, or worries about how difficult you believe the process is, stopping you from moving forward? It's not as bad as you may think, and we can help you greatly.

Here are a couple of buyer misconceptions according to a survey by OmniTel on behalf of LoanDepot:

Most potential buyers overestimate the difficulty of qualifying for a mortgage. Only 18% say it's easier to get a mortgage today compared to a year ago, and 43% incorrectly say it's harder. The February 2014 Ellie Mae Origination Insight Report found today's average mortgage application approval rate is 55.3% compared to 49% in 2012!

Buyers are also confused about credit scores. 50% don't know what minimum FICO score is required to qualify for most loans; while 18% think they need a minimum FICO score of 680 to 770+ to qualify. Truth is 33% of closed loans in Feb 2014 had an average FICO score of less than 700.

Misconceptions aside, what can really help buyers calm their fears is to work with us on their next or new purchase. We've developed relationships with "trusted lenders". That means that WE trust them, and so can our clients. We've seen what they can do many times-- they're known quantities to us. Remember, we, as Realtors are valued customers of mortgage brokers/lenders. We are REPEAT BUSINESS. A borrower may do business ONCE with a mortgage broker/lender, but we do a lot of business with them-- they've got a proven "track record" with us. They want to make us AND our clients happy every time.

We have several lending resources available for our clients; ones that are tried and tested and have made the cut. Nice people, dedicated professionals who handle our clients with care and sensitivity, keeping us firmly in the loop. It makes all the difference in the world, and will banish your "fear of rejection" for good!

More Than Just "Curb Appeal" - The 360-Degree View!

From the "For What it's Worth" department: According to MSN, today's developers/builders in response to consumer preferences are realizing that ALL elevations of a new home must be appealing, not just the front elevation. So, they're working on the sides and the back views to achieve a pleasing 360-degree view.

But what about existing homes? According to MSN and Jim Wentling of James Wentling, Architects in Philadelphia, there are several things homeowners can do to enhance the 360-degree views:

• Add side or wrap-around porches, or both. Make sure if a house faces the street on two sides that both look good. You can wrap a front porch around to one or both sides of the house to create architectural interest depending on the style of your home and the amount of available space.
• Use the same siding materials on all elevations of the home. An attractive siding, cultured stone or brick veneer used not only on the front elevation but also on the sides and back of the home makes it look less like a movie set and more like a complete house.
• Create a pent roof on one side of the house. A pent, or shed roof, has a slant on only one side and is a great way to create architectural interest on an otherwise bland side of the house.
• Add a sunroom. It may seem like an interior improvement, but think, too, how a sunroom enhances the back or side of your home from the outside.
• Relocate or add replacement windows and exterior doors. Breaking through walls to add new windows and doors can get pricey. However, like a sunroom, a well-placed bay, bow or picture window — or a bank of windows — does more than just improve your indoor living space.
• Build a covered or screened-in back porch with a gabled roof. A back porch will certainly increase the size of your home's rear, but it's an elegant addition you won't be at all ashamed to show off.

Keep a few things in mind if you are thinking of these or other improvements for your home:
• When making additions, be sure the roof line is considered from all sides.
• If you have a house that faces the street on two sides, it needs curb appeal on both.
• Finally, consult with an expert designer and architect to make sure you can achieve the overall effect you expect.


Exerpts from MSN Real Estate

Top 10 Improvements Sellers Can Make That Add Value!

In the White Mountains AZ real estate market, #10 (a fireplace) is probably a lot higher on the list! In the White Mountains of AZ, our vacation and 2nd home buyers really, really want the mountain lifestyle feel that a crackling fire imparts. Whether it's wood-burning or gas, a fireplace adds important ambiance in our AZ mountain market!

But these Top Ten Improvements all are very useful food for thought for White Mountains AZ real estate sellers who want to maximize attractiveness AND sales $$. If you've already got a fireplace, think about pulling up that wall-to-wall carpeting and replace it with a hardwood floor! Looking at these guidelines as to what percentage of buyers think are important, and how much more they'll pay-- you'll find one or two ideas that you can manage!

And when you're ready to sell your White Mountains AZ home, we're excited to see it, list it and sell it!