You Get A Better Mortgage From Credit Union Or Bank?, Homeowner's Insurance Scam Revealed, Why Malls Are Dying

 

You Get A Better Mortgage From Credit Union Or Bank?

Real Estate Tip:

Find out if your homeowners insurance uses "actual cash value" method rather than "cost to replace" method to calculate a claim--if so, depreciation will be deducted from your settlement amount, resulting in lower compensation to you in the event of a claim.

Real Estate Insight:

Newer shopping centers played a bigger role in the demise of malls than increased online shopping did over the past 10 years.

 

Holiday Season Real Estate Opportunity, Auction Alert!, Big Lender Change

 

Holiday Season Real Estate Opportunity

Real Estate Tip:

Be very careful if you participate in a real estate auction. Auctions encourage impulsive behavior and at most auctions there's usually someone dumb enough to pay too much for a property-- better to let that person win.  No one ever got rich paying too much for something!

Real Estate Insight:

Banks accounted for less than half of mortgage dollars extended to borrowers in the 3rd quarter--the 1st quarter that banks, credit unions other depository institutions have fallen below that threshold in more than 30 years

 

Trick Banks Use To Get You To Overpay For Property, Property Target Tips, NYC High End Rental Market Revelation

 

Trick Banks Use To Get You To Overpay For Property

Real Estate Tip:

Buy property that is consistent with other property in the neighborhood.  It's smarter to buy the cheapest rather than the most expensive house in an acceptable neighborhood-this increases the odds that your property value will increase and often makes it easier for you to sell.

Real Estate Insight:

The market for high end rentals in New York City is slowing