I was driving down to a doctor’s appointment yesterday and I was listening to State of Nevada on NPR. They were talking about, surprise, the “sub-prime melt down and the foreclosures looming in the Las Vegas Valley.” If you’d like to listen to the program click here. As I was driving down the road I heard a caller who was 26 with a 720 fico score, if you’re not familiar which fico ratings check out this website. He asked the guest if he would be able to get 100% financing in six months and the guest said NO! I was so annoyed that this guest blatantly gave WRONG information that I called up KNPR and told them my latest client’s story.
First time home buyers who used an FHA program plus the assistance of a non-profit organization who gifted them their down payment. Hmmmm…sounds to me like they got 100% financing to me.
I called and said that I was frustrated with the guests because what he said is simply not true. This is where a good Realtor, like me :), comes into the picture. You need a Realtor who is up to date with the market and is aware of what kind of loan programs are available. I’m not a mortgage broker, but I am aware of what is going on in the market. Also, I work with top mortgage brokers who know what they’re doing and can assist my clients through the mortgage process. Before all that happens, your Realtor needs to locate the right property, and NEGOTIATE the heck out of a deal. NOW is the time where buyers are running the show. I have been able to negotiate 10-15% off the market value because sellers just want to sell. Did you know only 5% of the properties on the market right now are selling. Let me say that again, 5%!!! There are over 22,000 homes on the market, not including condos, and townhouses. Buyers can ask for anything right now, and if the seller doesn’t want to sell, there are plenty willing to negotiate. Another client of mine just got a killer deal out in Summerlin. Call Felipe Crook and I’ll help you find a great home and I’ll negotiate aggressively to save you the most amount of money possible. My cell is 702-683-2169 or you can email me at Felipe@felipecrook.com