Mortgages are still available, despite talk of a credit crunch.

Qualified borrowers can find conforming and FHA-insured mortgages easily. Jumbo mortgages are more scarce, but available. Rates went up in the last week, which is another way of saying that credit is tighter. But the mortgage marketplace isn't frozen, at least in part because of federal intervention.

"There's almost no difference in the availability of money compared to a year ago, with the exception of jumbos," says Jim Sahnger, mortgage consultant with Palm Beach Financial Network in Stuart, Fla. "The main difference is that you have to provide documentation, such as W-2s, tax returns and bank statements. Welcome to the full-doc world."

Credit standards have been getting tighter all year, reducing the number of people who qualify for loans. It's hard to quantify how many people have been disqualified merely because of more strict lending standards.

As Sahnger mentioned, one prominent change has to do with documentation of income. A year or two ago, a borrower with an excellent credit history and no change in employment might have been able to refinance a mortgage without having to provide proof of income -- even on a full-documentation loan. Those days are gone, mortgage lenders say. Bring in W-2 forms or income tax statements, or get turned down for a loan.

By Holden Lewis - Bankrate.com

These tips and suggestions can help you make the best possible impression on the lender of your choice.

The four C's

• Capacity, which refers to the adequacy of the borrower's income to pay the interest and principal due on the loan, plus property taxes and homeowners insurance.

• Character, which refers to the borrower's track record of paying debts as evidenced by his or her credit history and credit score.

• Capital, which refers to the borrower's down payment (or equity) as a percentage of the current value of the home.

• Collateral, which refers to the safety and soundness of the home and the value of the home as determined by an appraisal relative to the agreed-upon purchase price.

By Marcie Geffner • Bankrate.com

Judy Carter leading REO (Real Estate Owned) specialist in Sacramento area just launched Sacramento Area REO Bank-Owned Listings - ForeclosuresRealEstateAgent.com. Viewers have direct access to Sacramento County, Placer County and El Dorado County bank-owned properties. They can search and view from a large inventory of foreclosed bank-owned properties. REO listings contain detailed information about the property. Placer County foreclosures are listed in reosplacercounty.com and Sacramento County foreclosures are listed in reossacramentocounty.com.

Foreclosure Hot Line: (916) 642 6333

It's tough being the seller in a buyer's market. But you can improve your odds with the right research.


In many cases, making a smart deal and getting the best price comes down to studying your market and being an educated seller.


"You've got to know more than you would have if you'd sold a year ago," says William Poorvu, professor emeritus at Harvard Business School and author of the upcoming book "Creating and Growing Real Estate Wealth." "If you want to protect yourself, you have to become knowledgeable."


8 factors to keep in mind as you prepare to sell:

1. Recognize that housing markets are local.
2. Analyze who is buying and selling in your market.
3. Ask the professionals.
4. Know what your house is worth.
5. Consider strategic pricing.
6. Rebate your "commission."
7. Evaluate whether you really have to sell now.
8. Assess the market where you plan to buy.


For seller tips click here.


Source: Bankrate.com

Internet Lead Generation: Boom or Bust?
By: Ralph Roberts - Published: August 31, 2007
RealtyTimes


With the proliferation of online real estate lead-generation services, including Zillow.com, HomeGain, HouseValues, and HurryHome, seasoned real estate agents who haven't exactly embraced 21st Century technology are beginning to get a little nervous. How are these Internet lead-generation services going to affect the industry? More importantly, what effect will these services ultimately have on my bottom line, and what can I do to remain competitive?


Although Internet lead-generation services are certain to shake up the industry, this technology is only the most recent to affect the way we do business on a daily basis. When colleagues ask me what they can do to remain competitive, I offer the same advice I have been giving throughout my career as a real estate mentor, coach, and author:


. Embrace change
. Master new technologies
. Market wherever your customers go


Embrace change - Whenever a new technology affects your industry, you have three choices: resist it, accept it, or embrace it. Those who resist almost always lose their competitive edge. As soon as the competition adopts the new technology, you fall at least one step behind. The early you adopt the change, the sooner you can master the new technology and the easier it is to keep up with changes as it matures.

Agents who adopted Internet lead-generation technology in its infancy (2003-2004), have discovered ways to reduce bad leads, optimize their conversion rates on good leads, and minimize costs. Those who wait face a much steeper learning curve. I encourage you to get started today.


Master new technologies - At first, adopting a new technology may cause a slight dip in productivity, but over time, they almost always boost productivity. I can remember the time when the only gadgets I used to run my real estate business were a telephone and a handheld calculator. Now, I have computers, fax machines, a PDA, a Blackberry device, a digital tape measure to estimate room sizes, broadband Internet access, over 200 websites and blogs, email, instant messaging, a conference call center, and more. I can travel to Kenya while closing on a house in Detroit and talking with a virtual assistant who works out of her home in Mexico City.


Every technology, no matter how easy it may be to master requires some investment and "getting used to." The same is true of Internet lead-generation services. If you're accustomed to "by referral" prospecting and print-marketing techniques, this new method may feel a little awkward at first, but I would bet that when you first entered the business, the whole thing felt a little awkward.


Market wherever your customers go - To thrive in sales, in any industry, you have to market via any and all media that your customers rely on for information. In the past, that meant marketing in print publications, via direct mail, on television and radio, on billboards, and by word of mouth. With more and more people seeking information on the Internet, you had better have a presence there, as well.


I encourage you to have your own website or blog, where people can find information about you and your business, homes you have listed for sale, information about the neighborhoods in your farm area, and any other information that current and prospective clients will find useful.


In addition, sign up for an Internet lead-generation service. These services provide one of the easiest ways to tap the power of the Internet for leads without having to market extensively. The lead-generation service does the heavy lifting -- marketing the service to prospective home buyers and sellers, gathering their information, filtering out low-quality leads, and delivering promising prospects right to your computer.


Remember, only you hold the answer to the ultimate question: "Internet Lead Generation: Boom or Bust?" By embracing this new technology, you can capitalize on a host of new opportunities. Resist the change, and you're likely to become technology's latest casualty.


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