John Flood - Loan Officer, NMLS 666148

John Flood - Loan Officer, NMLS 666148 Loan Officer, NMLS 666148

If you want to buy a new home but are worried about rates, this should give you some peace of mind. Our Rate Drop Pledge...
11/23/2024

If you want to buy a new home but are worried about rates, this should give you some peace of mind. Our Rate Drop Pledge has been extended through February!

🚨NAR RELATED UPDATE📢📢🚨TLDR: THE VA HAS UPDATED TO ALLOW VETERANS TO PAY BUYER AGENT COMMISSIONS AND FEESVA’s previous st...
06/11/2024

🚨NAR RELATED UPDATE📢📢🚨

TLDR: THE VA HAS UPDATED TO ALLOW VETERANS TO PAY BUYER AGENT COMMISSIONS AND FEES

VA’s previous stance has always been that the veteran/borrower could not pay for any real estate agent/broker commissions or fees. It has been determined that a temporary variance is appropriate to ensure veterans remain competitive buyers in this shifting real estate market. Permanent policies will be established as the real estate market restabilizes and new practices take hold, however the following temporary policy may be utilized effective August 10, 2024. (We are pending clarification from the VA regarding if this effective date is for closings or applications. An update will be provided as soon as we get a response from the VA.)

Veterans may pay their buyer agent/broker’s commissions and fees, subject to the following:
1. Subject property is in an area where the listing brokers are prohibited from setting the buyer’s agent/broker compensation through multiple listing postings; or buyer’s agent/broker compensation cannot be established by or flow through the listing broker.
2. Commissions/broker fees are NOT included in the loan amount.
3. Commissions/broker fees paid by the veteran are considered in determining whether the veteran has sufficient liquid assets to close the loan.

The seller agent’s commissions may not be paid by the veteran/borrower, only the veteran/borrower’s own agent’s commissions and fees. Any seller payments of real estate commissions or fees will continue to NOT be considered as a seller concession.

06/06/2024

Most people don't realize this when buying a home, which is that you don't have to make your first mortgage payment right away.

For example: Lets say you close on your home June 15th....You do not have a July 1st mortgage payment. Your first payment would be on August 1st. It's a huge mental hurdle cleared when you know you have time to move and get out of leases without having bills piling up.

One storyline in housing that seems to have fizzled out is corporate ownership of single family homes. In 2021, single f...
05/28/2024

One storyline in housing that seems to have fizzled out is corporate ownership of single family homes. In 2021, single family homes were a popular place for companies to park the cash they had become flush with. Interest rates were low and the housing market is corned by high demand and lagging supply. The uptick in purchases gave the impression this would change the landscape.

Now states and the federal government are introducing laws to suppress corporate purchases of single family homes, but there also appears to have been a market correction. The pace of purchases has significantly slowed as rates and prices have continued to go up. Anyone in this business probably still feels the market is cornered but perhaps this is a sign things will ease up. We are in fact seeing inventory increasing, new builds have been slow but steady, and these corporate holding could produce a supply that stabilizes prices. Maybe this is even happening already in areas that new legislation seems most likely.

What looked like a source of panic or a bubble has cooled off. There are some localities where these companies are controlling the rental market but nationally rent prices rose by less than 1% last year. I hope we see a chain reaction that causes rents to drop and then these investments will be sold and it will result with a much more ideal marketplace for homebuyers.

04/23/2020

😁

TONIGHT! Come learn how HomeOwnership beats getting caught in the rent trap
02/26/2019

TONIGHT! Come learn how HomeOwnership beats getting caught in the rent trap

12/20/2018

We had a wonderful time at Children's National dropping off toys for Dr.Bear's Closet and going on the tour! Can't wait to do it again next year! Thank you to all of the ACM elves that helped make this day possible

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