The state’s insurer of last resort decided Thursday to delay a vote on whether to increase its homeowners rates by an average of 55 percent, following requests from lawmakers to defer its action until after a special legislative session next month. The decision by Citizens Property Insurance Corp.’s board of governors means a reprieve at […]
Rates Drop, Home Loan Applications Soar
Overall mortgage application volume increased 8.1 percent last week on a seasonally adjusted basis from the week before, inspired by a significant drop in interest rates, the Mortgage Bankers Association reported today. The seasonally adjusted refinance index increased by 13.7 percent to 1,989.7 from 1,749.6 the previous week, and the purchase index increased by 4.9 […]
Mold: Once it gets in your home, Is it hard to remove?
INSPECT FOR MOLD Water stains on ceiling, walls, floors and window sills Water leaks and seepage from exterior and from interior Standing water near or under sinks and in air conditioning and refrigerator drip pans Condensation on windows, walls and pipes MOLD PRECAUTIONS Ask the builder about design safeguards against mold Consult design and construction […]
FICO Score Gains Clout in Rental Market
Consumers’ credit risk measured by 5 key criteria. The FICO score was developed by Fair Isaac Corp. in 1989, and rates the credit worthiness of the applicant. Generally, a FICO score falls between 300 and 850. A score below 600 indicates a bad credit risk, while a score above 700 is considered good credit. Until […]
Moving and Storage Tips
Chances are if you are moving, even locally, you will be putting some of your extra possessions or furniture in storage. Selecting a Self-Storage Facility Location – Are you going to be accessing your storage often? Is it a transitional space best placed between the 2 locations? How often do you need access to the […]
13 Tips to Protect Against Mortgage Fraud
With reports of mortgage fraud on the rise all over the country, real estate practitioners must be on guard for this white-collar crime and go out of their way to make sure they aren’t involved in a fraudulent deal. There are many websites to fight mortgage fraud saying illegal schemes that have grown more complex […]
Mortgage Fraud
Although many people have never even heard of Mortgage Fraud before, it is an issue everyone should be aware of, if you own a home or thinking of buying a home. With Mortgage Fraud growing along with the real estate market, it is important to be aware of who you are dealing with in your […]
How Accurate is Zillow?
Have you ever checked out the satellite photos and market value estimates of homes in your neighborhood on Zillow.com – the Internet real estate site that offers “free, instant valuations and data for 67 million-plus homes”? Zillow was launched with major media fanfare in February, backed with a reported $57 million in venture capital. It […]
Citizens to Drop Most Investment Properties
The state-run insurance pool is getting ready to move second homes, vacation homes and most investment properties off its books. An insurance bill passed in May requires Citizens Property Insurance to stop offering windstorm coverage to non-homestead properties after March 1, 2007. The aim of the law is to reduce risk and slow the growth […]
Home Buyers: Don’t Repair Defects Without First Calling Inspector
When I bought my home, I made the mistake of not being present for the home inspection. Instead, I trusted that the inspector did a good job and that everything was OK. After moving in, I began finding things the inspector had missed. Worst of all was moisture and rotted wood at the base of […]
