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Mattress Money
 You’re probably aware but if you’re not, lenders will typically need to verify pretty much everything on a loan application. If it’s printed on the application, it will need to be verified via third party sources. An example of third party sources is income. Applicants will enter how much money they make each month but most every loan program out there won’t just take the applicant’s word for it.
Instead, income verification is accomplished by reviewing the most recent paycheck stubs covering a 30 day period as well as showing year-to-date totals. The last two years of W2s may also be required and if self-employed or if there is income showing on the application that
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MORTGAGE RATES
U.S. averages as of March 2023:
30 yr. fixed: 6.5%
15 yr. fixed: 5.76%
5/1 yr. adj: 5.53%
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that represents more than 25% of total income, recent income tax returns may also be required. This is just part of the verification process.
Lenders verify
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Can You Move in Before a Certificate of Occupancy?
 When you’re building a home, it rarely goes according to the timeline you have in mind. This is just the reality of the situation, and you may be anxious to get into the house that you could already be paying a mortgage on.
One potential roadblock to moving in is a certificate of occupancy.
What Is a Certificate of Occupancy?
A certificate of occupancy is a document officially from the government certifying a building is safe to be occupied. A certificate of occupancy typically includes the name of the owner of the building, as well as the address and some other information specific to the property.
The information will first include the type of property. This is the type of use
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Why Do People Experience Homebuyer’s Remorse?
 A home is almost always the most significant purchase someone makes, so the thought of making a wrong decision stirs up immense anxiety for many buyers or would-be buyers.
Buyer’s remorse is that feeling that takes hold when you regret a purchase. When it’s something small, like maybe a gadget you didn’t need as badly as you initially felt like you did, that’s one thing. It’s an entirely different situation when it’s something like a house.
In the real estate industry, buyer’s remorse is when a new homeowner starts to feel they made the wrong decision. They might feel anxious and regretful about a life-altering decision that maybe wasn’t the best for them.
Regrets Stemming from Pandemic Purchases
A study by Clever Real Estate from last August found that 72% of recent homebuyers had regrets about their purchase.
Much of that
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"The Real Estate Market Is Like The Weather-It Changes"!"
Predicting the real estate market can feel like predicting the weather here in the north Dallas/Collin County area. Just wait a moment it can change. We saw a change from last February in resale home in our area. What did we see? We saw inventory start building and days on market getting longer for homes for sale. This helped buyers of homes because they had more choices. Due to the growing inventory we also saw that offers were coming in less than list price on some of those properties.
However, now we are not seeing inventory growing in the 20 school districts we follow closely in north Dallas and Collin County. In fact, it has decreased. If inventory moves back to far, then we will see a market like we did last year. Multiple offers and offers above list price. Prices have not dropped significantly since last year but if this continues we might also be heading back to the dynamics of last year. With that said, we are moving into the area where more homes normally come on the market and that could change these dynamics.
Here are the quick stats in February for resale homes in Collin County. Median Sales Price: $482,500, Days on Market 36 days, % of Original Prices 96.2%, Months of Inventory 1.3 months, Homes for Sale 1,168, New Listings 705, Pending Sales 527, Closed Sales 627 and Showing per Listing 11.3.
If you are thinking about buying or selling a home, contact Roxanne DeBerry with The DeBerry Team of KW for accurate information in your particular neighborhood. Phone #214-676-8040 email Roxanne@thedeberryteam.com
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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