Tag Archive for: crash bros

Homes Need Permanent Heat; Affordability Factor Everyone Misses; Warning Buyers About Avalanches; Don’t Borrow Before Loan Funds

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I. Homes Need Permanent Heat Sources Every property needs a permanent heat source to be eligible for financing. Sometimes appraisers don’t notice if there is no heat source (unless there are notes in MLS comments), but FHA appraisers almost always do. “Permanent” means affixed to the property and hardwired (not just plugged in). A very cheap wall heater from Home Depot will suffice, as long as the specs say it can heat the entire home. Exceptions include unique “typical for the area” heat sources. I have seen underwriters sign off on wood stoves as acceptable heat sources in very remote areas, for example.Read More

“Dear Buyer, The Market’s Not Soft; Please Don’t Lowball;” Cockroaches Kill Deal; 10 Day Closes Reign Supreme!

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Many of the markets we serve are, in fact, very cool, with inventory builds and price discounts (mostly across the Sunbelt). It’s fascinating to see how some very hot markets are only a few miles away from some very cool markets, too – in all states. The crash bros are constantly posting about the soft markets alone while ignoring the many very hot markets. Homebuyers are seeing this onslaught of housing doomerism, firmly believing they can find “deals” in every market, and insisting on either lowballing or underbidding in the face of fierce competition. I bring this up because we are seeing our buyers get outbid over and over. This is one more reason we should all teach buyers to ignore the crash bros.Read More