The home buying process can often be a long journey – especially when 2 people are involved. What kind of difference does gender make in the buying process?

Coldwell Banker Real Estate LLC commissioned a survey to be conducted by the International Communications Research. Contacting more than 1,000 men and women in May.

Diann Patton, a Coldwell Banker consumer real estate specialist noted “The results were surprising, not only did we uncover some of the inherent differences between men and woman, but we also pinpointed a number of ways that the two genders are actually the same.”

“For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.”

She also added: “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.”

General preferences of being closer to extended family was more important to women than men. Also, the importance of an extra room for a media area/entertainment room was more important to men than women.
 

Things appear to be looking up for the most part in the Palm Beach real estate market.  Home sales have seen an improvement; prices are no longer in an alarming freefall and builders are actually purchasing lots once again.  Despite this good news, the term ‘housing recovery’ is still very much a loose one.  Depending on your situation and the home itself, you’ll find that property generally falls into one of three categories.

The lowest tier is actually where the most affordable Palm Beach homes are available and where you’ll find the largest number of foreclosure property.  With the first time buying tax credit and high end property available for sale at $100,000, sales have seen the biggest increase in this sector.

The middle or “cool” tier is where you’ll find the majority of homes that may be underwater.  Most buyers in this category already own a home which is why is it’s encouraged that prospective buyers sell their current property before moving into another one.  Sellers really need to utilize all of the resources they have available if time is an issue.

At the top is where things are tougher.  Although banks are hesitant to provide “jumbo” loans to buyers, coming in with as many of your bases covered such as being pre-approved can yield fruitful results.  Sellers with homes in this tier should consider pricing aggressively and perhaps throwing in some incentives, strategies a Palm Beach realtor will be able to provide.  As another plus, you’ll find very few foreclosures forcing prices down in this tier, one less thing to have to deal with.

It’s not unusual to see homeowners looking to modify the terms of their Palm Beach real estate mortgage loan. Loan modification has had huge demand, leading to a backlog that has slowed down the process for some. This might be interpreted as though applying for a modification is difficult but it’s not quite as complicated as it may seem.

If you’ve become unemployed, you can still apply for a loan modification contrary to what you might think. The catch is that you must be able to provide evidence of being able to make the monthly payments at the reduced amount, usually a reduction of twenty or thirty percent. If you’re looking for a very low monthly payment, your lender may have to extend the mortgage a few years so be aware of that.

Another misconception is the timeframe available to apply for a Palm Beach real estate loan modification. Even if your home has gone into foreclosure and will be auctioned off a week from now, you can still contact your lender and request a modification. Just make sure that when this happens, your lender has canceled the sale of the home.