Posts Tagged ‘buyer’

Another Happy Rock Realty Client!

Thursday, June 10th, 2010

I take my job seriously and enjoy it very much.  It’s important to me to act as my client’s partner, and not a salesman in a real estate transaction.  The testimonial below that I recently received really meant a lot to me, and I thought I would share:

Prospective buyer/seller:

I am nothing but honored and enthusiastic to be able to write and highly recommend Mike Collins with Rock Realty for your next real estate adventure.  I had a very negative experience with a different major realtor in the Janesville area who rushed me in an out of houses, pressuring me to sign purchase agreements, and caring more about the money then the person and the house that best fit them.   A realtor that pretends to care about you but at the end is only looking after his own best interests.  A realtor that goes into dual seller/buyer contracts and breaks confidentiality with the buyer when it best advantages his wallet.  I caution you before signing with a realtor before checking their references.  For that reason, I am writing the letter to recommend Mike Collin and Rock Realty in Janesville, WI.

It was just the opposite with Mr. Collins.  Mike with Rock Realty is honest, takes the time to find the right home for you without pressure, cares more about doing what is right by his clients and his reputation than just simply making the sale.  For Mike, word of mouth is the best advertising he can get and he cherishes keeping his positive.  Rock Realty works 100% for their clients and they understand that cannot be done while representing dual buyer/seller roles.  For that reason, if they are representing you, you can trust they will not represent the other side as well.

Mike Collins and Rock Realty were fair and thorough.  When it came to signing contracts and paperwork, Mike took the time to go line-by-line to make sure I understood exactly what I was signing.  Never did I feel like I was being rushed or taking up time from a different appointment.  Each and every time I spent with Mike going over paperwork or looking at house, I felt that I had all day to do it.  Even though that may not have been the case, he never showed it or pressured me.  When I found a house I thought I liked, instead of rushing me into signing a purchase agreement like the other realtor would have, Mike instead suggested not rushing into it.  He suggested that I take the night to sleep on it, take a second look at the house a different day because you will see things you did not see the first time, and if you still like it then he suggested signing.  Because of his patience, it kept me from going into a contract that I would have later regretted and later finding my current home which I love and fits me great.

If that is not enough, Mike even went above and beyond what would be expected of anyone by helping me move into my new home.  This is not expected of a realtor, but greatly, whole -heartedly appreciated.  It just goes to prove that Mike Collins and Rock Realty are providing a service and care much more about you as a person and your needs than rushing into a sale.

With great pleasure and gratitude, I recommend Mike Collins and Rock Realty for your next home hunt or sale.

Feel free to call me to verify anything that I have written.

Ben Pusakulich (Janesville, WI)

(608) 346 – 4350

7 Tips for Improving Your Credit

Tuesday, June 8th, 2010

As we all know, credit is essential for most to buy a home.  It’s a rare case that a buyer has 100% of the purchase price of a home available in cash.  At todays low fixed rates, it more often then not makes more sense to use credit to leverage the cash that you have to invest.

If you are considering purchasing a home, take a look at the 7 tips below, brought to you by House Logic and the NAR.

Regards,
Michael Collins – Broker

 

 

7 Tips for Improving Your Credit

Article From BuyAndSell.HouseLogic.com

By: G. M. Filisko
Published: February 25, 2010

Here’s how to clean up your credit so you get the least-expensive home loan possible.

Getting the loan that suits your situation at the best possible price and terms makes homebuying easier and more affordable. Here are seven ways to boost your credit score so you can do just that.

1. Know your credit score

Credit scores range from 300 to 850, and the higher, the better. They’re based on whether you’ve paid personal loans, car loans, credit cards, and other debt in full and on time in the past. You’ll need a score of at least 620 to qualify for a home loan and 740 to get the best interest rates and terms.

 You’re entitled to a free copy of your credit report annually from each of the major credit-reporting bureaus, Equifax (http://www.equifax.com), Experian (http://www.experian.com), and TransUnion (http://www.transunion.com). Access all three versions of your credit report at www.annualcreditreport.com (http://www.annualcreditreport.com). Review them to ensure the information is accurate.

2. Correct errors on your credit report

If you find mistakes on your credit report, write a letter to the credit-reporting agency explaining why you believe there’s an error. Send documents that support your case, and ask that the error be corrected or removed. Also write to the company, or debt collector, that reported the incorrect information to dispute the information, and ask to be copied on any materials sent to credit-reporting agencies.

3. Pay every bill on time

You may be surprised at the damage even a few late payments will have on your credit score. The easiest way to make a big difference in your credit score without altering your spending habits is to diligently pay all your bills on time. You’ll also save money because you’ll keep the money you’ve been spending on late fees. Credit card or mortgage companies probably won’t report minor late payments, those less than 30 days overdue, but you’ll still have to pay late fees.

4. Use credit carefully

Another good way to boost your credit score is to pay your credit card bills in full every month. If you can’t do that, pay as much over your required minimum payment as possible to begin whittling away the debt. Stop using your credit cards to keep your balances from increasing, and transfer balances from high-interest credit cards to lower-interest cards.

5. Take care with the length of your credit

Credit rating agencies also consider the length of your credit history. If you’ve had a credit card for a long time and managed it responsibly, that works in your favor. However, opening several new credit cards at once can lower the average age of your accounts, which pushes down your score. Likewise, closing credit card accounts lowers your available credit, so keep credit cards open even if you’re not using them.

6. Don’t use all the credit you’re offered

Credit scores are also based on how much credit you use compared with how much you’re offered. Using $1,000 of available credit will give you a lower score than having $1,000 of available credit and using $100 of it. Occasionally opening new lines of credit can boost your available credit, which also affects your score positively.

7. Be patient

It can take time for your credit score to climb once you’ve begun working to improve it. Keep at it because the more distance you put between your spotty payment history and your current good payment record, the less damage you’ll do to your credit score.

Other web resources

How FICO scores are calculated (http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx)

Answers to frequently asked credit report questions (https://www.annualcreditreport.com/cra/helpfaq)

 G.M. Filisko is an attorney and award-winning writer who keeps a close eye on her credit scores. A frequent contributor to many national publications including Bankrate.com, REALTOR; Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

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Opportunity v.s. Deal Properties

Friday, June 4th, 2010

During my SFR designation course the instructor explained the difference between opportunity properties and deal properties. There is a difference in the approach, and it is important the buyer understands the difference.

Opportunity properties are those less than 30 days on the market and are in move-in condition. They are usually priced to sell just below market value. The opportunity is a good property at close to market value. Deal properties are those that have been on the market for a while in less than perfect condition. They will sell for well under market value, but the buyer will usually have to put money in to get it to move-in condition. Buyers should know the difference when they first start looking. The choice is simple. Do you want a house that doesn’t need work, but at a closer to market price or a fixer upper at a great deal.

What do you think?  Have you seen example of these types of properties?

Regards,
Michael Collins – Broker
Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

Follow us:
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www.facebook.com/RockRealtyMike

Rock Realty offers Buyers 1% at Closing

Thursday, June 3rd, 2010

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LIMITED TIME ONLY – 1% TOWARDS CLOSING COSTS
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Potential Home Buyers, are you looking to take advantage of the low housing prices in today’s market?

Would you like 1% of your new home’s purchase price credited to you at closing??
For a limited time, Rock Realty is offering this 1% credit to any newly signed agency agreements with broker.

For example, if you purchase a $200,000 home, you would be eligible for a $2,000 credit at closing.  This is a great opportunity now that the tax credit has expired!
Contact Michael and mention this ad for this special discount.

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Regards,
Michael Collins – Broker
Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

Follow us:
www.twitter.com/RockRealty
www.facebook.com/RockRealtyMike

Fannie Mae: Qualifying for interest-only loans tougher

Monday, May 17th, 2010

Thanks to the Wisconsin Realtors Association for bringing this to my attention:

Fannie Mae announced Friday that it will tighten lending requirements for the interest-only loans and adjustable rate mortgages (ARMs) it backs.  To get a Fannie Mae-backed interest-only mortgage, for example, homebuyers will have to make down payments of 30% of the sale price. 

For adjustable rate mortgages, Fannie will only buy those underwritten to ensure that borrowers could still afford payments even if their interest rates reset to the higher of either 1) the loan’s initial interest rate plus two percentage points or 2) the maximum the interest rate the loan can rise to, known in the industry as the cap rate.
Meanwhile, Fannie says it will stop funding so-called balloon mortgages. The new guidelines go into effect after August 31. o top of page

Source: CNNMoney.com, Les Christie, (04/30/2010)

I think this is good start.  Interest only loans are typically not a good idea.  The whole purpose of a loan is to eventually pay it back.  It’s a rare occurence when using this type of loan is a sound financial decision.  It’s nice to see that the government (Fannie Mae) is finally pulling back on programs that got us into this mess.  They are a few years too late.

What do you think?

Regards,
Michael Collins – Broker
Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

Follow us:
www.twitter.com/RockRealty
www.facebook.com/RockRealtyMike

Newest Homes for Sale in Janesville WI

Friday, April 30th, 2010
More Town of Janesville real estate

1% OFF OF YOUR NEW HOME!

Tuesday, March 30th, 2010

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LIMITED TIME ONLY – 1% TOWARDS CLOSING COSTS
——————————————————————————

Potential Home Buyers, are you looking to take advantage of the low housing prices in today’s market?

Would you like 1% of your new home’s purchase price credited to you at closing??
For a limited time, Rock Realty is offering this 1% credit to any newly signed agency agreements with broker.
Add this to the $8,000 Federal Tax Credit and now is the perfect time to buy!

Contact Michael and mention this ad for this special discount.

Regards,

Michael Collins – Broker
Rock Realty
608-921-8536
Rock Solid Real Estate Strategies
Follow us on:
Twitter
Facebook

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