Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.

Only about half of all real estate agents are REALTORS® - the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives.

Renting is a very frustrating way of life. The money you pay every month disappears, leaving you with few benefits other than a roof over your head. Compared to owning a home, renting is a futile exercise that leaves you with nothing after your lease is up. It’s no surprise that people want to get out of the rent race, and here are 10 reasons why people decide to buy a home versus renting.

1. They Want to Build Equity

Homebuyers build equity as their property increases in value over time. This equity has many benefits, including the ability of a homebuyer to leverage equity in lines of credit to make repairs or additions to their home. Equity is a powerful thing and a natural consequence of home ownership. Renters never gain equity in their rental space, and at the end of their lease they are thrown out on the street with nothing to show for years of on time rental payments.

Wells Fargo & Co. has dramatically lowered credit score requirements for Federal Housing Administration (FHA) mortgages, the first major lender to do so following pressure from the agency and housing advocates.

Beginning last month, Wells began accepting applications in its retail branches for FHA loans from borrowers with FICO scores as low as 500. Previously, it required a score of at least 600 for retail FHA borrowers. The minimum FICO score remains 640 at the company's wholesale and correspondent channels.

For borrowers with credit scores ranging from 500 to 579, a 10 percent down payment is required, and the down payment may not be a gift or be part of a down payment assistance program.

Borrowers with credit scores of 580 to 599 are required to put down 5 percent, and the down payment may not be a gift or part of a down payment assistance program.

Borrowers with a credit score of 600  or higher are required to have a 3.5 percent down payment, and a gift is acceptable.  For all borrowers, seller concessions are limited to 3 percent.

FHA Commissioner David Stevens has been urging lenders in the federal mortgage insurance program to lower their minimum credit score overlays to reach more people.

Tom Goyda, a Wells spokesman, says the bank "is committed to responsibly serving a wide range of borrowers." Wells was one of 17 lenders – including Bank of America and JPMorgan Chase – that agreed to meet with NCRC officials to discuss ways to comply with FHA's requirements.

By accepting lower FICO scores in the retail channel, Wells appears to have struck a compromise that allows big lenders to maintain credit overlays. Other major lenders are expected to follow Wells Fargo’s lead.

via Santa Ana Business News Examiner

Comey & Shepherd Realtors personalizes shopping for a home with it’s new Lifestyle Map Search Feature! Lifestyle search is available at www.mycityliving.com and www.comey.com within the Greater Cincinnati Property Search tool.

With nearly 90 percent of home buyers shopping online for their next house, the variety and competition among online search tools is steadily ramping up.

Among the latest: Lifestyle mapping and search engine features aimed at helping consumers go beyond traditional online searches that are typically limited to location and price.

At Mariemont-based Comey & Shepherd Realtors, the firm recently launched a Lifestyle Map Search option on its website, www.comey.com. The new tool compiles more than 100 levels of data meant to help home buyers personalize their search.