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Find Remarkable Listings. Stay informed with relevant news and information on the local and national real estate scenes. Get helpful hints and useful information for buying and selling a home.
Friday, December 18, 2020
5 Steps to Take if You Need Forbearance Relief
Sunday, December 6, 2020
How do Solar Panels Impact Property Value
Solar Panels and their Impact on Home Values
I was privileged and honored to be included as part of an "expert roundup" to discuss the ways in which solar panels might be beneficial to a home owner, specifically with regard to the impact on property value. The article includes incredible insights from real estate pros across the country, which might be helpful to someone who is considering whether to purchase, or to lease, solar panels for his/her own home.
John Romito - Heart and Home Real Estate
"Solar panels are a solid way to increase the value of a home by an average of roughly 4% across all markets in the US." John Romito - Heart and Home Real Estate
"Solar panels practically pay for themselves when utility bill savings are factored in along with federal and state tax credit incentives. Solar panels also provide a sleek, streamlined addition to the resale value of the home."
John Castle
"The stats vary on how much value rooftop solar panels add to the value of a house. The most reliable figures have the resale premium from a solar system at about $15,000 nationally.
However, that amount varies considerably by state. In New Jersey and Hawaii, for example, the premium is about $30,000. Owned systems add the most value."
Michael Carnahan - AtHomeNation.com
RE/MAX First Choice
"A homeowner can either own or lease solar panels, and there are advantages and disadvantages to both options.
For buyers interested in owning solar panels, they will typically be excited about the opportunity because they are using renewable energy and they are saving money on utility bills.
If a buyer can save on the electric utility by having solar panels, then the home becomes more appealing and, therefore, more valuable.
A typical buyer could save hundreds of dollars per month depending on the size of the home and the amount of electrical usage.
There are also maintenance costs that should be considered, but overall many buyers see it as a win because they realize monthly savings, and these same buyers are often willing to pay more for that advantage."
As always, please share with me your questions about real estate so I can answer them directly, post the answer here on the blog, and/or share a video response on my YouTube Channel.
Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
Labels:
Appraisal,
First-Time Home Buyer,
Home Buying,
Home For Sale,
Home Improvements,
Home Ownership,
Home Selling,
Home Value
Q and A with Mike - Buyer Appraisal Issues
What do you do when an appraisal issue arises?
One of the most challenging areas of real estate can be the appraisal part of the transaction. Do you know what common appraisal issues could arise? Do you know how to handle them? In this video I touch on the types of challenges a buyer may face, such as when the value comes back lower than the sales price, and I talk about the possible solutions to these issues.
I am a absolutely passionate about real estate and about helping my clients. I love to share what I know with anyone who has a question in hopes that this will help to make transactions smoother and less stressful. Please share with me your questions, and I'll be happy to answer them.
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Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
mike@RemarkableListings.com
Labels:
Appraisal,
First-Time Home Buyer,
Home Buyer Prep,
Home Buying,
Home Value,
Homebuyer Prep,
House Hunting,
Quick Tips,
Real Estate
Thursday, September 10, 2020
639 South Conkling Street - MDBA523340
Just Listed!
639 South Conkling Street in Baltimore, MD features 4 bedrooms and 3.5 bathrooms, recessed lighting, hardwood floors, granite counters, a deck, a covered front porch, a beautiful master suite and much more...Listing details - https://rem.ax/35fSn1F
If you're in the market for a LARGE home in the Brewers Hill/Canton area, this may be the home for you...
Labels:
Home For Sale,
Home Improvements,
Home Life,
Home Ownership,
Home Selling,
Real Estate,
Renovated,
Virtual Tours
Do you know your Wants and Needs?
Home Buying is Better when you know your Wants and Needs
It starts with a desire to be a home owner. Then it becomes a process. Eventually you own a home. Was the process challenging or was it efficient and easy? If you plan ahead and know your wants and needs, you can make the process BETTER and make your life simpler.
Do you have a plan to make a wants and needs list? Do you know where to start? Would you like a little FREE help with the process??? Email me at mlcarnahan@gmail.com or text me at 443-392-2072.
Labels:
First-Time Home Buyer,
Home Buyer Prep,
Home Buying,
Home Life,
Home Ownership,
Homebuyer Prep,
House Hunting,
Quick Tips,
Real Estate
Saturday, August 29, 2020
508 South Luzerne Ave in Canton
Just Listed in Canton
Check out my newest listing! See details below.2 Bedroom home for sale in Canton. Just half a block to Patterson Park, this home features an open feel with living room, dining area and kitchen on the first floor. The kitchen has stainless, granite counters, an island, a dishwasher, and, best of all, the back door leads to private, off-street parking, allowing you to bring in the groceries with ease. The second floor bathroom has a jacuzzi-style tub with shower, two bedrooms, a skylight, and a deck off the back bedroom. Recessed lighting provides lots of brightness, while exposed brick and pocket doors add character to this lovely home. The basement is partially finished and has a separate back area for laundry -- washer and dryer included -- and utilities that are hidden behind folding doors. This home is also located close to all of the Canton neighborhood features, such as shopping and entertainment, and it's minutes from Fells Point, Brewers Hill, Harbor East, I-895 and I-95. Schedule your showing today.
508 S. Luzerne Ave.
Baltimore MD 21224
MLS# MDBA522184
Grant money for first-time buyers may be available. Call me today at 443-392-2072.
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Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
mike@RemarkableListings.com
Tuesday, August 25, 2020
Coming Soon - Luzerne Ave
New Listing in Canton - Near Patterson Park
This listing will be live in a couple of days. This 2 bedroom home features exposed brick, granite counters, off-street parking and much more.Stay tuned to find out when the listing is active.
Labels:
First-Time Home Buyer,
Home Buying,
Home For Sale,
Home Ownership,
Home Selling,
Home Value,
Real Estate,
Renovated
Wednesday, August 19, 2020
Don't Give Up
Multiple Offer Rejections Can Be Difficult
In order to stay strong, focus on what you want and maintain your motivation. Are you buying your first home and you're excited about it? Are you moving from renter to home owner? Are you getting a home for your family? Stay focused!
It's important to to stay focused and to work with someone who will stay strong with you.
Tuesday, August 18, 2020
Q and A - Should I Sell My Home As Is?
Selling As-Is Could be a Big Mistake
You may actually limit competition by selling as-is, even though you think it's better for you. Many buyers will avoid as-is homes. Sometimes they think there is something wrong with them, and sometimes they're afraid.
Watch this quick Q&A Video to find out how you can sell without using the as-is tactic.
Watch more helpful videos on my YouTube Channel.
Monday, August 17, 2020
Q and A - Preparation for Making an Offer
You Have to be Ready
Now more than every it is important to be ready to make an offer when you find that perfect house. So many people are missing opportunities because they haven't read the contract documents they need to sign when making an offer, and this delays the offer process.You should do your best to be are ready as possible. Watch this quick video that talks about reviewing contract documents in advance.
For more helpful videos, visit my YouTube page.
Best wishes!!!
Friday, August 14, 2020
Q and A - What is the Best Real Estate Search Tool?
Get the Best Results by Using the Right Tool
There are many home search tools out there, and often they have inaccurate or outdated information. To get the best search results, you should get information that comes directly from the listing service itself.
Go to https://GetHomeSnap.athomenation.com to download the HomeSnap app. Just scroll down and look on the right side.
Go to https://athomenation.com to search for homes now.
Go to https://www.athomenation.com/sellers to get an instant home valuation for your home.
I am a licensed real estate professional who is extremely passionate about sharing what I know from my years of experience in real estate to help clients to be the most informed and prepared buyers and sellers in the marketplace. Call me so I can help you too.
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Michael Carnahan
REALTOR, CRS, e-PRO
RE/MAX First Choice
443-392-2072 (cell)
410-391-6900 (office)
mike@RemarkableListings.com
Thursday, August 13, 2020
Q and A - Am I Really Getting What I Want?
Know Your Wants and Needs
If you're in the market for a home, are you letting the tail wag the dog? Are you compromising in areas where you didn't want to compromise? Don't!
It's super easy to sit down and create a list of wants and needs ... think "pros and cons." So, draw a line down the middle of a piece of paper, add headings for wants and needs, and make your lists. Then go back maybe a day later and see if there are any wants that are really needs and any needs that are really wants. Then, go find that perfect home!
Labels:
First-Time Home Buyer,
Home Buyer Prep,
Home Buying,
Home Ownership,
Homebuyer Prep,
House Hunting,
Quick Tips,
Real Estate
Tuesday, August 11, 2020
Q and A - How Can I Be Prepared?
It's a fast-paced real estate market - Be Prapared!
In the current real estate market where buyers are competing for an opportunity to buy just about any house, you need to be ready to strike. To be successful, you have to be prepared.
I am a licensed real estate professional who is absolutely passionate about sharing what I know to help my clients be the most prepared in the marketplace. Call me today so I can help you to be prepared to write that offer. https://www.fb.com/AtHomeNation/ https://www.linkedin.com/in/AtHomeNation/ https://www.instagram.com/AtHomeNation/ https://twitter.com/AtHomeNation Michael Carnahan REALTOR, CRS, e-PRO RE/MAX First Choice 443-392-2072 (cell) 410-391-6900 (office) mike@RemarkableListings.com
Wednesday, August 5, 2020
Q and A - Is It Really "As-Is"?
Today's Question: "Is this house really as-is?"
In the current real estate market with lots of buyer competition, many sellers are opting to sell their homes "as-is" so they don't have to deal with buyers asking for repairs. At the same time, many buyers are putting in offers that are as-is in the hopes this will persuade the seller to take their offer.So, does this mean a buyer has to buy it as-is? Does it mean a buyer can't do a home inspection?
The truth is that there are two as-is options: one is as-is WITHOUT inspections, and one is as-is WITH inspections. If you are a home buyer, you should certainly be careful when deciding how to proceed. Watch this quick video for more.
To see other videos, simply go to our YouTube channel.
Thank you, and happy home buying!
Monday, August 3, 2020
What's Your Home Worth?
Get your FREE home valuation instantly.
Just click the image below, or click here to get your instant home valuation report.
The real estate market is extremely hot right now, and sellers have the advantage. Homes are selling in days, and often for more than asking price.
For help with selling your home, including professional photography, top notch marketing, and much more, please call me, at 443-392-2072, or send me an email.
Sunday, August 2, 2020
Interview with Michael Straub - What is Title Insurance?
Quick Tip - The Importance of Title Insurance
May people are confused by title insurance and other insurances as well, and for good reason. It's a confusing subject. Watch this quick video tip to find out why title insurance is important to you as a home owner and how you can protect your interest by opting into the owner's policy when buying a home.
Please let me know if you have any questions or need assistance of any kind. There are lots of questions that buyers and sellers have, and I've heard them all. I'm happy to share what I know, so please feel free to call.
See more YouTube Quick Tip and other real estate videos here.
Labels:
Home Buying,
Home Ownership,
Homebuyer Prep,
Quick Tips,
Title Insurance
It's a Perfect Time to Sell
The Market is HOT!!!
Now is the time to sell. If you are thinking of selling because you need to move up, to downsize, or for any other reason, NOW IS THE TIME! Homes are selling in days right now, and they often sell about asking price.
For your FREE HOME VALUATION, just click here. You'll get an instant home valuation report.
Let me know if you have any questions or want to know more about selling your home. I am passionate about making the process as easy and as stress-free as possible for my clients, and I'm always happy to share what I know.
Click HERE for more YouTube videos and quick tips.
Thank you!
3803 Crestvale Terrace
For Sale Now.
Here is a terrific video slideshow to show you all the ins and outs of this beautifully renovated home. Please feel free to message me for a showing.
If you are wondering what your home is worth and you'd like a FREE HOME VALUATION, just click here. Thank you!
Labels:
Home For Sale,
Home Improvements,
Real Estate,
Renovated
For Your Protection Get a Home Inspection
Home Inspections are a MUST!
You may be thinking to yourself, "wow, this place looks great and it's newly renovated." Trust me when I tell you, you should still get a home inspection. Watch this AtHomeNation quick tip video to find out why.
If you'd like help with your home search and home purchase, please call or email me today. I'm passionate about sharing what I know so you can have the most successful real estate transaction. First-time buyer, experience buyer, or seller, I'm here to share my experience with you!
Thank you.
Thursday, July 9, 2020
Cooking it Right
While we are in this time of the coronavirus, many are still unsure as to whether it's safe to start going out and heading to their favorite places, including restaurants. If you're one of those people, then I'd like to share with you this handy little guide for grilling a great steak the right way!
Smacznego!
Please remember that you can always reach me at 443-392-2072 with any real estate questions you may have. Oh, by the way, I'm never too busy for your referrals.
Smacznego!
Please remember that you can always reach me at 443-392-2072 with any real estate questions you may have. Oh, by the way, I'm never too busy for your referrals.
Monday, June 22, 2020
Available Homes with Virtual Tours
Virtual home tours are incredibly helpful, especially in this time of the coronavirus. When it's time to see a home in person to determine if it's the one for you, we can arrange an appointment at your convenience, and we can do so following strict safety protocols. For now, though, why not take a look at these properties virtually?
Powered by ListReports
Virtual Tours
Presented by Michael Carnahan
Featuring listings located in 21093, 21094, 21128, 21131, 21234, 21236, 21237, 21286. For other locations, send me an email and I'll prepare a link for you.
Michael Carnahan
Financing available through Robert O'Connell
Main Street Home Loans
443-829-0300 • NMLS #476424
roconnell@mainstreethl.com
Labels:
Coronavirus,
COVID-19,
Home Buying,
House Hunting,
Pandemic,
Real Estate,
Safety,
Virtual Tours
Wednesday, June 17, 2020
Home Ownership Matters
Home ownership is a big deal. Understanding the process and surrounding yourself with a quality team are crucial!
Are you on the fence about buying a home? Buying a home can be profoundly confusing - I'm here to help you find the perfect permanent home! I can help you with everything from understanding the process to finding the right partners -- loan officer, home inspector, etc.
Send me a message to get started today.
#thehelpfulagent #home #confusing #listreports #househunting #houseexpert #realestate #realestateagent
Labels:
Home Ownership,
Homebuyer Prep,
House Hunting,
Real Estate
Tuesday, June 16, 2020
The Before-you-start-house-hunting "To-do list"
Before you start the house hunting process, it's important to think it through with this handy "To-do list." Of course having quality guidance is a crucial part of the process too.
Thinking of buying a home? Here's a quick list of the basic steps you should take before starting the hunt. I'm here to help with #5! I can also help you to surround yourself with a quality team of professionals to help you navigate each part of the buying process.
Send me a message today to see how I can help!
#thehelpfulagent #todo #houseexpert #home #listreports #househunting #realestate #realestateagent
Labels:
Homebuyer Prep,
House Hunting,
Real Estate
Monday, June 1, 2020
How to Not Regret the Paint Color You Choose
How to Not Regret the Paint Color You Choose
The secret? It's all about the lighting. Here's how to get it right.
Well that was a total waste. That Robin’s Egg Blue you picked for your entryway now looks like the color of that (really cheap) beach hotel room back in your spring break days.
Kind of makes you feel sick.
Not at all what you envisioned.
“People have to understand that the color of an object won’t look the same 24 hours a day,” says lighting designer Joseph Rey-Barreau. “I just had bamboo flooring installed throughout my house, and during the day it looks totally different than it looks at night.”
The way we “see” color primarily depends on two things:
1. The light that an object absorbs. Black absorbs all colors; white absorbs none; blue absorbs red.
2. How the light source works. Natural light (sunlight) changes throughout the day and is affected by a room’s location. Artificial light changes with the type of bulb you use.
The way we “see” color primarily depends on two things:
1. The light that an object absorbs. Black absorbs all colors; white absorbs none; blue absorbs red.
2. How the light source works. Natural light (sunlight) changes throughout the day and is affected by a room’s location. Artificial light changes with the type of bulb you use.
Here's how to figure out how lighting will affect your paint color choices before you plunk down cash for the paint:
How Sunlight Affects Colors
As the amount and angle of the sun changes, so will your room colors.
“Natural light should always be considered when choosing color for a space,” says Sarah Cole of the Farrow & Ball paint company.
North-facing rooms: Light in these rooms is cool and bluish. Bolder colors show up better than muted colors; lighter colors will look subdued. “Use strong colors and embrace what nature has given,” says Cole.
South-facing rooms: Lots of high-in-the-sky light brings out the best in cool and warm colors. Dark colors will look brighter; lighter colors will virtually glow.
East-facing rooms: East light is warm and yellowy before noon, then turns bluer later in the day. These are great rooms for reds, oranges and yellows.
West-facing rooms: Evening light in these rooms is beautiful and warm, while scant morning light can produce shadows and make colors look dull.
“Natural light should always be considered when choosing color for a space,” says Sarah Cole of the Farrow & Ball paint company.
North-facing rooms: Light in these rooms is cool and bluish. Bolder colors show up better than muted colors; lighter colors will look subdued. “Use strong colors and embrace what nature has given,” says Cole.
South-facing rooms: Lots of high-in-the-sky light brings out the best in cool and warm colors. Dark colors will look brighter; lighter colors will virtually glow.
East-facing rooms: East light is warm and yellowy before noon, then turns bluer later in the day. These are great rooms for reds, oranges and yellows.
West-facing rooms: Evening light in these rooms is beautiful and warm, while scant morning light can produce shadows and make colors look dull.
How Light Bulbs Affect Color
The type of bulb you use can alter the colors in a room, too.
Incandescents: The warm, yellow-amber light of these bulbs will make reds, oranges, and yellows more vivid, while muting blues and greens.
Fluorescents: This flat and cool light enriches blues and greens.
Halogens: These white lights resemble natural light and make all colors look more vivid. Using halogens would make the shift from daylight to artificial light less jarring.
Compact fluorescent lights (CFLs): CFLs can produce either a warm white, neutral, or bluish-white light.
Light-emitting diodes (LEDs): You can buy warmer or cooler LEDs, and even “smart” LED bulbs whose color you can control wirelessly. “You can point to the color of the sky in a picture at sunset and make the light bulb in the house be that same color,” says Rey-Barreau.
Incandescents: The warm, yellow-amber light of these bulbs will make reds, oranges, and yellows more vivid, while muting blues and greens.
Fluorescents: This flat and cool light enriches blues and greens.
Halogens: These white lights resemble natural light and make all colors look more vivid. Using halogens would make the shift from daylight to artificial light less jarring.
Compact fluorescent lights (CFLs): CFLs can produce either a warm white, neutral, or bluish-white light.
Light-emitting diodes (LEDs): You can buy warmer or cooler LEDs, and even “smart” LED bulbs whose color you can control wirelessly. “You can point to the color of the sky in a picture at sunset and make the light bulb in the house be that same color,” says Rey-Barreau.
Tips for Achieving the Color You Want
1. Paint squares of primed drywall with samples of the colors you’re considering, and then move them around the room during the day. Apply at least two coats.
2. Evaluate samples of carpet during different daylight conditions.
3. Most contractors won’t hang lights before you paint, but you can get a color approximation by placing a bulb you’ll be using in a floor or desk lamp. If you’re hyper-sensitive to color or want a very specific look, ask your electrician to hang the lights, then cover them carefully during painting.
4. Remember that natural and artificial light will work together during certain times of day, especially in summer when dusk lasts a long time. Turn on artificial lights even during daylight to see what your colors will look like.
5. Paint sheen also affects color. Glossy finishes will reflect light and change the way the color looks, whereas flat finishes are less reflective and allow colors to look truer under bright light.
6. Light-colored walls can reflect the colors of bold carpets: A bright blue rug, for instance, can cast a bluish tone on a white wall.
If you have any questions about home projects, or if you are considering selling your home and need some direction, please send me a message or give me a call.
Labels:
Home Improvements,
Home Ownership,
Home Repairs,
Painting,
Real Estate
Location:
Nottingham, MD, USA
Friday, May 1, 2020
Home Buying and Selling During the Pandemic
Home Buying and Selling During the Pandemic: What You Need to Know
Technology and good-old-fashioned creativity are helping agents, buyers, and sellers abide by COVID-19 health and safety practices while getting deals done.
Some buyers are touring houses virtually. Others visit in person while remaining at least six feet from their agent. Sellers are hosting open houses on Facebook Live. Appraisers are doing drive-by valuations. Buyers are watching inspections via video call. Masked and gloved notaries are getting signatures on doorsteps.
“We have had to make some adjustments, for sure,” says Brian K. Henson, a REALTOR® with Atlanta Fine Homes / Sotheby’s International Realty in Alpharetta, Ga. “Everyone is trying to minimize face-to-face interactions. There have been some delays, but mostly, deals are getting done, just with tweaks.”
Here’s what home buying and selling during the pandemic looks like.
Showings Go Virtual
The rules around in-person showings vary by city, county, and state. Some allow them and some ban them. Check with your state, county, and local government to get the latest on business closures and shut-down rules.
Agents have conducted home tours via FaceTime and other similar tools for years. But these platforms have proven invaluable for home buying and selling during the pandemic. Real estate sites report a surge in the creation of 3D home tours. Redfin, a real estate brokerage, saw a 494% increase in requests for video home tours in March.
“I’ve done several FaceTime showings,” says Henson. He conducted virtual showings before COVID-19, too. He recently closed a deal on a home the buyers only saw on video, he says, but hasn’t yet done so during the pandemic.
In places where in-person showings are allowed, agents wipe down door handles, spray the lockbox with disinfectant, and open up the house, closets, everything for a client. “We leave all the lights on so no one touches switches, and we don’t touch cabinets or doors during showings,” Henson says.
Safe-Showing Guidelines
The NATIONAL ASSOCIATION OF REALTORS®, which produces HouseLogic, recommends only one buyer enter a home at a time, with 6 feet between each guest. NAR also recommends agents have potential buyers wash their hands, or use hand sanitizer when they come in the door. They should also remove their shoes. No children should be present at showings, either.
"We're living in extraordinary times and unusual circumstances. If you have the ability to work, you have to be creative,” Mabél Guzmán, a Chicago real estate agent, told NBC News. Guzmán, who is also vice president of association affairs for NAR, has put together a video offering tips and strategies for virtual showings during the pandemic.
Down Payment Help
Many organizations offering down payment assistance to first-time home buyers have temporarily suspended the programs or changed the rules. You can check the status of programs in your area at the Down Payment Assistance Resource site.
Desktop, Drive-By Appraisals
Appraisers are essential workers in many areas, so home valuations are continuing. But often remotely. New, temporary rules from the Federal Housing Finance Authority allow drive-by and desktop appraisals for loans backed by the federal government.
In a desktop appraisal, the appraiser comes up with a home estimate based on tax records and multiple listing service information, without an in-person visit. For a drive-by, the appraiser only looks at the home's exterior, in combination with a desktop appraisal. The Appraisal Foundation has put out guidelines for handling appraisals during the pandemic. Here's the FAQ.
And here are specific new appraisal guidelines by agency:
On the other hand, some private lenders still require in-person appraisals, which are allowed even in areas with shutdown orders. Private lenders hold about 35% of first-lien mortgages, according to the Urban Institute
When appraisers come to your home, they should adhere to Centers for Disease Control guidelines, including wearing gloves and a face mask, keeping at least 6 feet apart from anyone in the home, and asking if the homeowners have been sick or traveled recently to a COVID-19 hotspot.
Inspections Via Live Video
Inspectors are now often working alone, no buyers in tow, and using hand sanitizer and alcohol wipes. The National Association of Certified Home Inspectors advises inspectors to videotape their inspection so clients can watch it at home later, or to use FaceTime or other live video chat apps to take their clients along on the inspection, virtually. They can also call clients with their findings after they’re done.
The American Society of Home Inspectors has also issued guidelines for inspectors so they keep themselves and the homeowners safe while providing an accurate assessment of a home's condition.
Mortgage Rates and Locks
With mortgage rates fluctuating quickly and closing times taking longer than usual, some lenders are extending mortgage rate lock periods. You can grab a good rate and hang on to it even if your lender takes longer than usual to process your loan.
But the protocol depends on the lender and the loan. Some lenders are offering this for all loans; others for refis. Check with your lender about its policy.
Related: How to Get Home Financing
Employment Verification
An important step in getting a mortgage is proving the borrower has a job. In pre-coronavirus days, lenders called the borrower’s employer for a verbal verification.
The Federal Housing Finance Authority, which oversees Fannie Mae, Freddie Mac, and federal home loan banks, has relaxed the rules for loans backed by the federal government because so many businesses are closed.
Lenders for federally backed loans now accept an email from an employer, a recent year-to-date paystub, or a bank statement showing a recent payroll deposit as proof of employment.
Walk-throughs
Home buying and selling during the pandemic means real estate agents can conduct the final walk-through via video with their clients. Or they can just open the home and have buyers walk through on their own. Henson says he still accompanies his clients, but stays six feet away and has them wash their hands when entering and exiting the house. Everyone's wearing masks, too.
And, of course, when the buyers take possession, they should disinfect.
Remote Notarization Depends On Where You Live
About one-half of states have permanent remote online notarization (RON) policies. These allow a notary and signer in different locations to sign electronic document, usually by use of video apps like Zoom or FaceTime. Notaries will watch you sign either a paper document or do an electronic signature on an e-doc, via camera.
Some states have rolled out temporary rules allowing RON. Here’s a state-by-state list of notary law updates, and the type of remote notarizations allowed. The number of states allowing remote notarization could grow as federal and state pandemic legislation expands.
Closings Get Creative
Traditional closings, where everybody gathered around a big table to sign the final papers, are no longer possible. Title companies and banks are getting super creative in dealing with the limitations.
A Minnesota company, Legacy Title, rolled out a drive-thru closing service at one of its offices in an old bank branch building. The title company rep sits in a bank teller window and handles the closing papers while the customer sits in their car. Legacy completed 14 closings in the first week it offered drive-thru service.
Then there are drive-by closings, where the entire transaction takes place in cars. Masked and gloved notaries meet buyers in parking lots and pass documents through car windows.
“I had a closing where the buyer sat in her car the whole time. The attorney came out to her car, gave her paperwork, had her sign in her car, and my buyer never got out of her car,” Birmingham, Ala., agent Isaac McDow told WBRC television.
Says Georgia-based agent Henson, “I’ve had closings the last three weeks [that] I’ve been asked not to attend. There was one where the seller signed two days before buyer. Then the seller came back two days later and signed.”
Henson, who is also licensed in New York, has had to extend closing dates on two sales there since. Co-op boards won’t let non-residents into buildings – not even an electrician who needs to make repairs as part of an issue that came up in the inspection. He left the closing with an open-ended date.
“It’s all about being really flexible right now,” he says.
TIP: Find out if your county recording office can complete the deal online.
Student Loan Relief
Finally, if you're also trying to swing your student loan payments, know that federal student loan borrowers get an automatic six-month break in loan payments from April 10, 2020, through Sept. 3, 2020. Thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act, they also won't be charged a dime of interest in that time.
Learn more at the Consumer Finance Protection Bureau’s site.
Keep in mind that payment suspension only applies to federal loans owned by the Department of Education. Some help may be available to borrowers with private student loans and other loans (like Perkins Loans and Federal Family Education Loans) that aren't covered. But it's not automatic. Reach out to your student loan servicer for information.
So, Should You Buy or Sell?
The real estate industry is creatively and safely responding to the situation, and mortgage rates remain low. Your agent is a great source of information about home buying and selling during the pandemic to help you feel comfortable. But, ultimately, it's a question only you can answer.
Labels:
Coronavirus,
COVID-19,
Home Buying,
Home Ownership,
Home Selling,
Pandemic,
Real Estate,
Safety
Location:
Perry Hall, MD, USA
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