HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Don’t Shoot Me, I’m Only the Appraiser!
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Don’t Shoot Me, I’m Only the Appraiser!
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Don’t Shoot Me, I’m Only the Appraiser!

October 5, 2011 (Chris Moore)

Real estate appraisers from across the country are feeling the heat from real estate agents, home builders, home sellers and buyers as an ever increasing amount of home purchases are cancelled due to low appraisals.

According to the National Association of Realtors (NAR), 18 percent of the home purchase contracts in August fell through due to lenders rejecting loan applications or because appraisals came in lower than expected. That was up from 16 percent posted the previous three months and twice what was posted a year ago.

Almost 11 percent of real estate professionals report that they have had a contract cancelled in the previous three months due to low appraisals that had botched a deal.

When an appraisal in a real estate purchase comes in too low, in order to complete the transaction the buyer must come up with more cash or the seller has to lower their price, or a combination of both.

In the mind of the buyer, when the appraisal comes in too low, they begin to doubt the value of the home they are purchasing. Sellers, of course, have a tendency to believe that the appraisal was flawed.

Appraisers argue that many people don’t realize how much the value of their homes have dropped since the housing crisis began and that appraisals have become far more challenging due to fewer sales that are available to use as comparables and to the high number of distressed properties that bring down home values.

Distressed properties typically sell for as much as 30 percent less than non-distressed properties and can have a profound effect on the value of homes in a neighborhood.

In cities like Las Vegas, Detroit and the Riverside/San Bernardino area in California, distressed property sales account for between 40 and 50 percent of all sales which has led to some of the largest price decline in the U.S. since the beginning of the housing crisis. Since such a large percentage of distressed homes are sold in these areas, appraisals tend to be significantly impacted by the discounted prices.

Whereas in cities like Rochester, Boston and Pittsburgh where the percentage of distressed properties is in the single digits, appraisals tend to feel less of an impact by the significantly fewer amount of distressed home sales.

“Appraisers were blamed for the run-up of the market when prices were high, and now they’re being blamed because prices are low,” says Ken Chitester, a spokesman for the Appraisal Institute. “Both can’t be true. Appraisers are doing the same thorough research and thoughtful analysis that they’ve always conducted. So, in short, don’t shoot the messenger.”

Tags: appraisers, appraisals, home values, real estate agents, NAR, lenders, loan applications, housing crisis, distressed properties

Source:
Cleveland.com

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

October 5, 2011 (Chris Moore)

Real estate appraisers from across the country are feeling the heat from real estate agents, home builders, home sellers and buyers as an ever increasing amount of home purchases are cancelled due to low appraisals.

According to the National Association of Realtors (NAR), 18 percent of the home purchase contracts in August fell through due to lenders rejecting loan applications or because appraisals came in lower than expected. That was up from 16 percent posted the previous three months and twice what was posted a year ago.

Almost 11 percent of real estate professionals report that they have had a contract cancelled in the previous three months due to low appraisals that had botched a deal.

When an appraisal in a real estate purchase comes in too low, in order to complete the transaction the buyer must come up with more cash or the seller has to lower their price, or a combination of both.

In the mind of the buyer, when the appraisal comes in too low, they begin to doubt the value of the home they are purchasing. Sellers, of course, have a tendency to believe that the appraisal was flawed.

Appraisers argue that many people don’t realize how much the value of their homes have dropped since the housing crisis began and that appraisals have become far more challenging due to fewer sales that are available to use as comparables and to the high number of distressed properties that bring down home values.

Distressed properties typically sell for as much as 30 percent less than non-distressed properties and can have a profound effect on the value of homes in a neighborhood.

In cities like Las Vegas, Detroit and the Riverside/San Bernardino area in California, distressed property sales account for between 40 and 50 percent of all sales which has led to some of the largest price decline in the U.S. since the beginning of the housing crisis. Since such a large percentage of distressed homes are sold in these areas, appraisals tend to be significantly impacted by the discounted prices.

Whereas in cities like Rochester, Boston and Pittsburgh where the percentage of distressed properties is in the single digits, appraisals tend to feel less of an impact by the significantly fewer amount of distressed home sales.

“Appraisers were blamed for the run-up of the market when prices were high, and now they’re being blamed because prices are low,” says Ken Chitester, a spokesman for the Appraisal Institute. “Both can’t be true. Appraisers are doing the same thorough research and thoughtful analysis that they’ve always conducted. So, in short, don’t shoot the messenger.”

Tags: appraisers, appraisals, home values, real estate agents, NAR, lenders, loan applications, housing crisis, distressed properties

Source:
Cleveland.com

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

October 5, 2011 (Chris Moore)

Real estate appraisers from across the country are feeling the heat from real estate agents, home builders, home sellers and buyers as an ever increasing amount of home purchases are cancelled due to low appraisals.

According to the National Association of Realtors (NAR), 18 percent of the home purchase contracts in August fell through due to lenders rejecting loan applications or because appraisals came in lower than expected. That was up from 16 percent posted the previous three months and twice what was posted a year ago.

Almost 11 percent of real estate professionals report that they have had a contract cancelled in the previous three months due to low appraisals that had botched a deal.

When an appraisal in a real estate purchase comes in too low, in order to complete the transaction the buyer must come up with more cash or the seller has to lower their price, or a combination of both.

In the mind of the buyer, when the appraisal comes in too low, they begin to doubt the value of the home they are purchasing. Sellers, of course, have a tendency to believe that the appraisal was flawed.

Appraisers argue that many people don’t realize how much the value of their homes have dropped since the housing crisis began and that appraisals have become far more challenging due to fewer sales that are available to use as comparables and to the high number of distressed properties that bring down home values.

Distressed properties typically sell for as much as 30 percent less than non-distressed properties and can have a profound effect on the value of homes in a neighborhood.

In cities like Las Vegas, Detroit and the Riverside/San Bernardino area in California, distressed property sales account for between 40 and 50 percent of all sales which has led to some of the largest price decline in the U.S. since the beginning of the housing crisis. Since such a large percentage of distressed homes are sold in these areas, appraisals tend to be significantly impacted by the discounted prices.

Whereas in cities like Rochester, Boston and Pittsburgh where the percentage of distressed properties is in the single digits, appraisals tend to feel less of an impact by the significantly fewer amount of distressed home sales.

“Appraisers were blamed for the run-up of the market when prices were high, and now they’re being blamed because prices are low,” says Ken Chitester, a spokesman for the Appraisal Institute. “Both can’t be true. Appraisers are doing the same thorough research and thoughtful analysis that they’ve always conducted. So, in short, don’t shoot the messenger.”

Tags: appraisers, appraisals, home values, real estate agents, NAR, lenders, loan applications, housing crisis, distressed properties

Source:
Cleveland.com

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS