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Loan Approval | Wise-Prantner Group Blog

Wednesday, April 14, 2021   /   by Peter + Traci Prantner

Frequently Asked Buyer Questions

This week we are answering some frequently asked questions. Here are four of the more popular questions we get.






(Click Picture for Video of This Question)


Question: When you are trying to buy a house, what you should not do?


Answer: Three things... 1) Do not cause income to go down. This will negatively impact your buying power, meaning you will not get approved for as high priced of a house. Do whatever you can to not change this. Don't work fewer hours if you are hourly. If you are self employed, do not have your expenses go up or your revenue to go down. Your income is based on your net revenue. 2) Debt to go up. Don't open any new credit cards, don't buy a new car or lease anything. Don't do anything to cause to your required monthly payments to go up. This includes carrying a higher balance on your credit cards having your monthly credit card minimums go up. 3) Anything to change your credit score, specifically letting your credit score go down. This inc ...

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  buy house, preapproval, loan approval, home inspection

Friday, March 19, 2021   /   by Peter + Traci Prantner

15 Tips to Sell and Buy a House at the Same Time

Here in the Orlando area, we have an inventory shortage happening. There are fewer houses for sale and the ones that are for sale are coming on and off the market fast! And if they are of any value at all, they are getting multiple offers, often the first day. (If they are priced anywhere close to market... there are still some crazy high priced houses out there!) This environment is making people that want to sell their current home and purchase a new home worried about how to pull that off. Especially when houses to buy are on and off the market so quickly with multiple offers. In an effort to help ease the worry of how to successfully buy and sell a home at the same time, we have come up with 15 different strategies that can be used to help make both happen at the same time. There are pros and cons to each of these strategies. I'll try to identify them here. Our goal is to educate and help you come up with the best strategy. Please lean on our knowledge if upgrading, downsizing ...

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  buy house, sell house, sell fast, preapproval, appraisal, loan approval, long distance move, relocation, model home

Wednesday, March 10, 2021   /   by Peter + Traci Prantner

February 2021 Market Update

The number of new listings on the market is still down 11% compared to this time last year. The big different is the number of buyers. This has dramatically increased! The number of active properties has decreased by 60%. Houses are staying on the market 3 whole weeks less than this time last year! Interest rates continue to be low, but are creeping up ever so slightly. They will continue to fluctuate and are still averaging around or just under 3%.

 

Here are some quick statistics for Osceola, Polk, and Orange counties.

 

This is comparing February 2020 to February 2021. The number of houses sold did increase 19% from the prior year! Because of the high interest in buying and a lack of houses for sale to support the demand of buyers, the average price of houses has increased again from this time last year by 16%. Supporting proof for this demand is the fact that the average days on the market has decreased by THREE WEEKS from this time last year!!! Houses sol ...

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  buy house, sell house, sell fast, preapproval, appraisal, loan approval

Tuesday, January 26, 2021   /   by Peter + Traci Prantner

Top 4 Reasons Home Purchases Don't Happen and Fall Apart

(Click Above for Video)


 


If you have ever bought a home, you know that it can be nerve wracking. There are certain steps along the way to buying (or selling) a home that are more likely than others to cause a deal to fall apart. As realtors we are here to help guide clients through these obstacles and to help keep you calm and low stress along the way. There are four areas that are more vulnerable to a contract falling apart than others. I'll talk about them here.


 


Contract Getting Accepted. Let's pause for a moment and talk about today's environment. Houses that are decent and priced right are being listed and multiple contracts received in a matter of days. We are seeing it constantly. Although not a contract falling apart, but certainly can be just as frustrating is when the offers you are presenting aren't being accepted time and time again. It's important to work with an agent that has experience in multiple offer situations. There are things ...

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  buy house, sell house, appraisal, home inspection, loan approval, preapproval

Wise-Prantner Group at Compass Florida
7380 W Sandlake Rd. Suite 500
Orlando, FL 32819
321-247-0856

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