Real Estate Basics

The Right Time to Buy a Home May Not Be In A Down Market

by Jon Griffith Helpful Hints

It’s all dependent upon the interpretation of the term, “The Right Time to Buy.” For a pushy sales person, the right time for you to buy a home may be RIGHT NOW!  TODAY!  Don’t WAIT…can’t you smell the steak on this grill?  But the truth of the matter is, the right time for you to [...]

View Comments Read the full article →

What The Heck is Escrow Anyway?

by Jon Griffith Buying A Home

According to the Online Etymology Dictionary: Escrow:  1590s, from Anglo-Fr. escrowe, from O.Fr. escroue “scrap, roll of parchment,” from a Gmc. source akin to O.H.G. scrot “scrap, shred” (see scroll (n.)). Originally “a deed delivered to a third person until a future condition is satisfied;” sense of “deposit held in trust or security” is from [...]

View Comments Read the full article →

The Debate Continues: One User’s Opinion on Renting vs. Buying

by Jon Griffith Personal Finances

As with anything, there are pros and cons that change with every complicated variable involved.  The concept of buying being better than renting is relative to the context of each side of the equation at any given time.  No two situations are the same, but generally speaking, assuming certain conditions are already met, owning a [...]

View Comments Read the full article →

A Few Things That Can Screw Up A Short Sale

by Jon Griffith Real Estate Basics

Aside from the normal list of problems that a home can encounter through the Escrow process, there are a few things that happen that are specific to Short Sales that can kill the deal.  I’ve outlined 5 that I have come across and a little bit about each experience. Failure to Provide Documentation Your REALTOR®’s [...]

View Comments Read the full article →

What is Escrow?

by Jon Griffith Real Estate Basics

Escrow, according to the Online Etymology Dictionary, is a “deed delivered to a third person until a future condition is satisfied.” Let’s do a backyard bargain example of escrow.  Bob is selling a lawn mower for $400.00, and Joe wants to buy it, but Joe and Bob don’t know each other very well.  They both, [...]

View Comments Read the full article →

What is a Loan Status Report?

by Jon Griffith Real Estate Basics

In Arizona, our Residential Real Estate Purchase Contract includes a section for financing that requires a document called the Loan Status Report be included with the contract if financing is being sought by the buyer.  If the transaction is a cash transaction, we skip this requirement. The Loan Status Report, as required by Section 2d, [...]

View Comments Read the full article →

Opening Escrow Before the Bank Approves the Sale

by Jon Griffith Real Estate Basics

All of the short sale listings that I take are accompanied by specific contract terms and conditions that are disclosed to buyers before they submit an offer.  It makes it easier to conduct the short sale, and results in greater success. When a buyer comes to the table on a listing that I have taken, [...]

View Comments Read the full article →

A Short Sale Will Save Your Credit

by Jon Griffith Real Estate Basics

When you cannot pay your mortgage because it is out of your reach due to adjusting rates, pay reductions, job loss, etc., then it’s likely you have been inadvertently placed on a track that will lead to foreclosure. Foreclosure occurs when the bank takes your home back because you went too long without paying them.  [...]

View Comments Read the full article →

← Previous Entries