JP Morgan Chase Mortgage – Delayed Delayed Delayed APPROVED then Declined

JP Morgan Chase Mortgage – Delayed Delayed Delayed APPROVED then Declined just 24 hours prior to closing and Buyers lost their EMD. EMD JP Morgan Chase said was safe because as soon as the additional funds were in the account they would be “Clear to Close” and in fact this week the buyers received a congratulatory letter from JP Morgan Chase on their mortgage approval only to Decline their approval 2 days later, 24 hours prior to closing. JP Morgan Chase just screwed my customer after extending the closing date twice because of their failure to communicate between underwriting and the loan originator and my customer. This was a simple transaction, second home, 20% down with their customer who has an existing commercial lending relationship with them. This was supposed to be easy and it wasn’t. Even after my repeated attempts to contact the loan originator Angela Rogers and her manager Jennifer Lombardi to get to the bottom of this ordeal I only 2 returned calls from the loan originator not one from her manager. I’ve sold real estate along the Destin 30A Florida Gulf Coast since 1995 and have closed over 400 transactions and never have I experienced a more irresponsible group of lenders. The most recent call I received from Angela Rogers, I was told that once the buyers transferred additional funds from the wife’s retirement account into the husband’s account, as required by underwriting reserves requirement for this “Investment” transaction, which really should have been a second home transaction, they would be clear to close, the buyers received the letter of approval from JP Morgan Chase and two days later received a phone call from Angela Rogers that they were now DECLINED. My opinion is that if you are considering any kind of financing through JP Morgan Chase that you reconsider your options.

8 Rookie Mistakes That Keep People From Selling Their Home

| Jun 8, 2017

If your home is struggling to catch the eye of a buyer, it could be for an entirely valid reason. Maybe you’re stuck in a sluggish market or have the poshest place on the block (always a tough sell). But there’s another possibility, too—your home could be sitting on the market because of a rookie selling mistake. All of us can make ’em, even those of us who actually have a few home sales under our belts.

The good news? These basic slip-ups can be easily corrected or avoided. To help you out, we spoke to real estate agents to identify some of the most common mistakes people make in trying to sell their home. Sidestep these flubs to avoid sabotaging your own sale.

Rookie mistake No. 1: Overpricing your home

All sellers want to get top dollar for their house. Unfortunately, says Julie McDonough, a real estate agent in Southern California, “many people overestimate the value of their home.” For example, she says, “if a neighbor sells their house for $400,000, you might automatically assume that your house is worth at least that much money, but that’s not necessarily the case.”

“Price is typically the reason why a house doesn’t sell,” says Irvine, CA, real estate agent Benny Kang. And the last thing you want to do is list too high right from the start, because it could cause your house to sit on the market—which might require you to make a serious price reduction in order to sell it.

“If a home is on the market for more than four weeks, prospective buyers are going to assume that there is something wrong with it,” says Kang.

Your best approach: Listen to your agent’s listing price recommendation, and try not to get too emotional if your agent’s suggestion isn’t as high as you’d hoped.

Rookie mistake No. 2: Not budging on price

Even if the price is right, you might need to be flexible—especially if you’re in a buyer’s market. So, if you receive an offer that’s below list price, you should at least consider making a counteroffer. After all, receiving $5,000 or $10,000 less for your house than what you wanted is a small concession in the long term.

Rookie mistake No. 3: Doing a lousy job of cleaning

Let’s make this clear: Your home needs to be spotless. That might mean hiring a professional cleaner to do a deep and thorough cleaning of the entire place. You might want to consider renting a storage locker to make the process of cleaning out the garage, closets, and attic less onerous. But it will likely be worth it, because clutter distract buyers in a big way.

Bonus: A clean house will also enable you to take great photographs for your listing (see our next point).

Rookie mistake No. 4: Using crummy photographs

Unless you’re an artist with the camera, you’ll want to hire a professional photographer to take pictures of the house, because nearly half of home buyers start their search online, a recent survey by the National Association of Realtors® found.

“You can write a beautiful description, but people aren’t initially focusing on the description,” says Philadelphia real estate agent Patrick Conway. “They’re looking at the pictures.”

A photographer will cost between $150 and $400—a good investment.

Rookie mistake No. 5: Leaving religious or political belongings in plain sight

“You never know what type of buyer is going to look at your house,” says McDonough, so put away all personal belongings—specifically, religious or political items, which can be awfully polarizing. “You don’t want anything that’s going to distract buyers.”

Rookie mistake No. 6: Lurking around at your own open house

This is a huge mistake for several reasons.

“If the buyer knows that the seller is there, they might feel uncomfortable asking the listing agent honest questions about the home,” says Kang. Buyers might also feel like they’re intruding if you’re present, which is kind of crazy.

“People like to open closet doors and look closely at the home without someone hovering over their shoulder,” says Conway.

Rookie mistake No. 7: Making it difficult for agents to show your home

When selling your house, “be prepared for little privacy,” says Kang. Translation: You’ll need to be flexible when buyers ask to see your home on short notice. To make it easy for buyer’s agents to show the property while you’re away (see No. 6), let your agent install a lockbox with keys to the house, advises Conway.

Rookie mistake No. 8: Leaving pets at home during showings

Some people are simply scared of pets, (yes, even your cute little pug), or they might have allergies that will make them want to steer clear. So don’t just crate your dog or cat during showings; instead, take them with you or drop them off with a neighbor while buyers are viewing the house. And because pets, like humans, tend to accumulate lots of stuff—leashes, collars, toys, water bowls, and the like—make sure you stow their paraphernalia in a cupboard or closet. And do a quick vacuum of pet hair before you go!

 

Daniel Bortz is a Realtor in Maryland, Virginia, and Washington, DC, who has written for Money magazine, Entrepreneur magazine, CNNMoney, and more.

Price Reduced by $10,000! Upscale 3 Bedroom 2 Bathroom Townhome in Desired Diamond Lakes S/D

You know the saying – Location, Location, Location – much sought after Diamond Lakes Townhomes are centrally located in Destin just off Commons Drive close to restaurants, golf courses, shopping and entertainment and just one mile away from beautiful Henderson Beach State Park. 228 Diamond Cove is an upscale brick 3-bedroom, 2-bath townhome with a private 2-car garage and screened-in porch. The interior offers a contemporary look with an open floor plan, 10 ft. ceilings in the living area, gas fireplace in the great room with built-in book shelves, a spacious kitchen with breakfast bar. Large master has en suite with double vanities, separate large shower, jetted tub and walk-in closet. Enjoy evenings on your large screened porch or swimming in the community pool. Large 2 car garage. HOA maintains exterior landscaping.

For more information call Richard Eimers at 850.259.1798 or fill out the contact info below.

 

#1 Reason to List Your House for Sale, NOW!

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If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale 

The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun recently commented on the inventory:

Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.

Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.

The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

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Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy now!

 

How’s the Real Estate Market? Find Out What the Experts Are Saying

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As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying:

Doug Duncan, Fannie Mae Chief Economist

“Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial homeownership rates.”

Diana Olick, CNBC

“Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.”

Daren Blomquist, Senior VP at Attom

“I am guessing we will see it get even better… If you are considering moving, it could be a really good time to sell.”

Lawrence Yun, NAR Chief Economist

“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does.”

Mark Fleming, First American Chief Economist

“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”