BLK Realty Podcast: Recent Episodes
Anthony S. Johnson
Be informed in the real estate marketplace. Especially Black Americans who are at the lowest when it comes to homeownership and understand the housing process. BLK REALTY is a real estate service and media company. Our media team offers real estate news, market data, and tips on buying, selling, and investing.
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There is a lot – and we mean a lot – that goes into a full offer letter. We’re going to unpack the main aspects to include, along with common sections most homebuyers opt to add but know this list might not include everything needed for your specific situation. Make adjustments based on your own needs.
While this is a complex and sometimes lengthy process, there is a general path to follow: Develop your offer and present it to the seller in an official document. The seller accepts, declines, or offers a counteroffer. If the seller accepts, you move forward with the purchase. If the seller declines, you can make a new offer or consider looking at other houses. If the seller sends a counteroffer, you will review the document and either accept, decline, or offer a counteroffer of your own. Once the purchase offer is accepted, it is signed by both parties and becomes a legally binding contract.
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If you are thinking of selling a house for the first time, pricing it correctly and securing a good appraisal are crucial steps in the home-selling process. So it’s important to be prepared.
Appraisals carry a lot of weight, and closing a sale can hinge on the results. Thus ensuring you’ve correctly priced your home at the listing stage is key. An acceptable appraisal is a primary contingency for many buyers, with 43 percent of buyers including that contingency in their offer, according to a January 2020 report from the National Association of Realtors.
To help you navigate this make-or-break part of the home-selling process, here are some things you need to know about the home appraisal process and how to appropriately price your home to ensure a successful sale.
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If your thinking about buying a house in the current seller market? Here is an option to show a home seller you want to house and put all your cards on the table.
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Don’t Buy a Home Alone. But many homebuyers do purchase a home alone because the builder sale agent is so nice and they believe they are on their side or working for them as if they have a buyer agent. People You Need on Your Team * A local real estate agent * A real estate lawyer * A home inspector
Hire an agent who specializes in new home construction to represent you. Yes, the builder has an agent, but remember, that agent works for the builder, not you. Hire a lawyer to go over all the final paperwork to ensure your interests are represented.
BLK Realty can help you with your real estate goals. visit our website at blkrealty.com
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Homes are selling faster than at any other time in recent history, potentially making them an excellent market to sell. But with record-low inventory, it’s an extremely competitive market to turn around and buy your next home.
The decision to sell a home is a personal one — and for many people an emotional one. To help you weigh the pros and cons of your situation, consider the following market trends to help you think in broader terms when deciding whether to sell your house.
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You’ve found the perfect place, made an offer, and the seller accepted. Now you’re ready for the final step – closing on your new home.
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Once you’ve found a home that you want to purchase, it’s time to make an offer. Here are 7 steps to making an offer on your new home.
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Mortgage financing can seem overwhelming, but once you understand a few basics, you'll be ready to move forward.
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Between January 2021 and January 2022, average mortgage interest rates on a 30-year, fixed-rate loan rose from 2.74% to 3.45%. Over the same period, the typical U.S. home value rose by 19.9% (from $271,650 to $325,667).
In January 2021, a buyer purchasing the typical U.S. home with a 20% down payment and a conforming, 30-year, fixed-rate mortgage at then-prevailing rates, would have expected to pay $885/month (principal & interest only). By this January, that same payment had risen 31% – to $1,162/month.
The typical mortgage payment in January 2022 ($1,162/month) was the highest on record, surpassing the previous peak set in July 2006 ($1,118/month).
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The United States Department of Justice dealt a blow Monday to a California real estate appraiser’s attempt to have a fair housing lawsuit brought by an African American couple thrown out. The federal agency, which shares authority for enforcement of the Fair Housing Act with the Department of Housing and Urban Development (HUD), filed a statement of interest in the case on Feb. 14.
“Combatting housing discrimination, including bias in appraisals, is a high priority across the federal government,” the DOJ’s attorneys wrote in the filing, noting that the Biden administration had established The Interagency Task Force on Property Appraisal and Valuation Equity in 2021, which includes the DOJ.
“Last year, the President ordered agencies to take a comprehensive approach to advance equity for all, including people of color and others who have been historically underserved, marginalized, and adversely affected by persistent poverty and inequality.’ He directed the federal government to address ongoing legacies of residential segregation and discrimination’ – including ‘a persistent undervaluation of properties owned by families of color.'”
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In its latest study, the National Association of Realtors explained how discrimination, income inequality, and skyrocketing housing costs might be keeping Black Americans behind.
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In January 2022, home prices were up 14.2% compared to last year, selling for a median price of $376,197. On average, the number of homes sold was down 6.4% year over year and there were 407,184 homes sold in January this year, down from 434,961 homes sold in January last year. The national average 30 years fixed-rate mortgage rate is at 3.4% and down 0.7 points year over year.
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Do you believe the real estate professionals were thinking they were doing what's right for the Country? I don't know but what I do know is justice will get served.
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