5 minute read by Jason Gelios REALTOR®

A quick video I did on some interesting statistics regarding home buyers.

5 min. read by Jason Gelios REALTOR®️

PMI or Private Mortgage Insurance is insurance placed on a mortgage that is over 80% loan to value. This means if a borrower does not put 20% down on the loan they will have to pay mortgage insurance.

Buyers who don’t put 20% down are considered higher risk by the lender. Private mortgage insurance provides extra protection for the lender should a borrower default or not pay on the mortgage.

Although even if that happens the lender will still pursue the borrower for the money owed.

One way to avoid PMI is to put at least 20% down. A more common way is to purchase the home with PMI and look at where values are a year or so after. If values rose to where you would show 20% equity above what you owe on your first mortgage, you could refinance to have PMI removed.

Before buying or selling a home be sure to do this.

4 min. read by Jason Gelios REALTOR®️

According to the National Association Of REALTORS®️, over 85% of homebuyers would opt out of certain home features in order to have a smoother commute. And over 43% would prefer to cut their current commute by 45 minutes.

Some of the home features buyers would skip out on are lot size, square footage and updates.

Pretty interesting how commute time ranks higher than a lot of home features. As they say in real estate, location, location, location. Whether you are looking to buy or sell a home always keep in mind the location and possible commute times to major freeways etc.

Be sure to visit my website www.ItsAllAboutTheRealEstate.com for more helpful videos and articles.

5 min. read by Jason Gelios REALTOR®

It can be daunting. It can leave you feeling frustrated. You or your agent present an offer only to be flat out rejected. 

There are many reasons why an offer on a home get's rejected. We are going to explore some reasons here.

One of the reasons why your offer may have been rejected is because the home seller changed there mind. Sometimes this happens even with an offer in hand. It could be due to a personal reason or change. It could be that something new popped up in there life and caused them to take there home off the market.

Another reason your offer can get rejected is the offer itself. Maybe your offer was too low or had too many requirements that turned off the seller. Most sellers will provide a counter offer if they found your offer a possibility. Oftentimes if an offer is very low in price the seller will reject it versus countering the offer because they were offended. After all, buyers and sellers take there home very personal. 

So what do you do if your offer was rejected?

The short answer is ask questions. Try to get more information or have your REALTOR® ask questions to see if anything can be done to resubmit your offer. That is if you still want the property. Asking the right questions just might get you back into the game and win you the house. 

It's very important to make sure your offer is a fair one from the beginning. It is very easy to be blacklisted from a property due to a seller being offended. Even if it's a situation where the home is overpriced. Which in this case you may have to move on or wait until a price adjustment happens. 

Asking questions and making sure your offer is fair up front will help avoid the possibility of your offer being rejected. 

In this quick tip video I share a good selling tip to keep in mind. 

In this quick video I share a great tip for home buyers.