still writing.........

Still writtig...........

3 Things to Re-evaluate if Your Pittsburgh Home Hasn’t Sold

 

The year of 2008 was a difficult time for many who are trying to sell their Pittsburgh home. If it didn’t sell last year, remain positive and re-evaluate what you could do to make it more marketable.

Top Things Items to Consider

Does your asking price need to be re-evaluated? Discuss the 2008 home sales in your neighborhood with your Pittsburgh Realtor. You may need to adjust the price accordingly.

Are you offering any buyer incentives? If not, talk with your Pittsburgh Realtor about possible incentives you could offer to entice buyers.

Does your home need any freshening up? Invite your Pittsburgh to help you evaluate the inside and outside for any ideas on how to create a more inviting atmosphere for potential buyers.

Think Concessions, When Buying a Pittsburgh Home

Everyone is aware of what’s going on in the market these days. Buyers have the advantage of being picking when looking for a Pittsburgh Home. This means that seller’s must also be aware of the fact that concessions are being thrown into negotiations to close the deal.

What does that mean for you as a buyer? Well, it could mean that you might be able to have the seller fix or replace items in the home that may need a little attention or repair. Also, don’t hesitate to ask for help with closing costs either. It’s typical for seller’s to help with closing costs anyway, so go ahead and state your requests. If the seller is motivated, they will seriously consider your requests. If not, then you can either choose to take less for that particular Pittsburgh home or buy another home.

Loan Modification to Save Your Pittsburgh Home

 

If you are struggling with your mortgage payments on your Pittsburgh home, you may qualify for a loan modification. Loan modification is different from loan refinancing in that it is a change to the terms of the existing loan, whereas with loan refinancing, you obtain a brand new loan.

With loan modification, the loan is restructured so that the payments can fit comfortably within your budget. This may involve a lower interest rate for a certain period of time or they may be modified to have a longer amortization period - 30 or 40 years. In some cases, although not often, the bank will actually write-off some of the principal amount.

If you are endanger of falling behind on your Pittsburgh home mortgage payments or are already facing foreclosure, talk to your local Pittsburgh lender or bank today!

Benefits of Buying a Pittsburgh Home With Cash

 

For many of us, we are not able to purchase a Pittsburgh home out right with cash. Perhaps it’s something you can do in the future. However, if you are able to purchase a home right now with all cash, here are some additional incentives for doing so:

It will put you in a stronger position as an offer since there are no loan contingencies that the seller has to consider

You won’t have to bother with mortgage payments or the accumulated interest you will be paying over the life of the loan

You will be in a better position to borrow money against your home because you won’t have to wait until you have built equity

If you are trying to sell your Pittsburgh home and someone brings you an all cash offer, it would be wise to seriously consider it. In addition to not having a loan contingency, all cash offers tend to go much smoother and they tend to close more quickly.

Repairing Your Credit Report

If you are looking to buy a home now, or even in the near future, then you should carefully review your credit report. Correcting the errors can be a daunting task, so that’s why it’s important to review them before shopping for a Pittsburgh home.

Get a copy of your credit report from all three credit reporting agencies (Equifax, Trans Union and Experian). Review your credit report with your Pittsburgh lender, just to make sure that you don’t miss anything important. Verify that all the information is accurate and up-to-date. Some companies only report when you pay late, not when you pay on time. It might be worthwhile to have the company send the most recent payment activity to the credit agencies so that how you currently handle your finances is reflected accurately. Also, if you have closed any accounts, make sure the close date is accurately reflected.

When you find inaccurate information, you can submit a certified letter to the credit agency which shows the error. There should be instructions on the bottom of each credit report telling you how to submit disputes. If the credit agency doesn’t find an error but you still believe it to be wrong, you can contact the creditor directly and try to get them to rectify it. If you are successful, make sure the company reports the change to the credit bureau.

One thing to note is that most lenders use and automatic underwriting system to approve you for a loan. This means that the responsibility is on you, now more than ever, to protect your credit. The best thing t