Hey there! Here's another entry for our Real Estate Alphabet Soup, where we learn more about the real estate industry one letter at a time. This word appears a lot not just in real estate, but also in a lot of fields and places like malls, boutiques, restaurants, fastfood chains, e-commerce stores, and many more. Without further ado, let's welcome today's letter...S for SaleIn real estate, we have a lot of property types that we can put into sale. With that comes the different types of sales as well, such as (1) the standard sale, which is a traditional buyer and seller; (2) foreclosure, where the bank owns a property which is usually called the REO or bank-owned property; and (3) short sales. When we have the financial crisis, the homeowner owned more than waht the market value of the ... 10/19/2021

Another one for today! Welcome to another episode of Real Estate Alphabet Soup. This time, we'll be talking about my profession, something that I really take pride of. I've met a lot of wonderful people in my line of work and I can never be more proud of saying that I am a...R for Realtor®This is my favorite letter so far, and I am so proud of being a realtor. Realtors like me belong in the National Association of Realtors, which is a huge umbrella with a lot of local-level realtor associations under it. At the local level, I belong to GCAAR or Greater Capital Area Association of Realtors, which covers Maryland and DC. I also belong in NVAR, or the Northern Virginia Association of Realtors, which, you guessed it, are home for the Northern Virginia realtors like me.We do have a Code of E... 10/18/2021

Hey there! Here goes another episode of the Real Estate Alphabet Soup for today, where we learn more about real estate one letter at a time. Now we're at the letter Q. We'll be talking about one of the important things in filing for a mortgage as a home buyer.Q for Qualifying RatiosQualifying ratios are the ones that the mortgage lender will use to qualify you for the home mortgage. This includes your debt-to-income ratio, for scores back in ratios, you name it.Also, in an event that you are making an application for rent in the DMV area, your lender or the property manager will utilize the ratio before they will lease you the property in the area. So know your DTI or your qualifying ratios if you are planning to buy a home.Wondering how you can get a loan and you need more information ... 10/18/2021

It is a beautiful Monday we're having today, everyone! We're back at it again with the Real Estate Alphabet Soup, and we are now at the letter P. We''ll be discussing about one of the insurances that you need to know about real estate so hang in there for some knowledge today.P for Private Mortgage InsuranceWhen applying for a mortgage, the lender will most likely need you to go for a down payment (typically 20%) of the home value. In the event that the home buyer or borrower can't pay for the said amount, the lender may charge you a PMI, or a Private Mortgage Insurance, as a part of getting a mortgage. This is to mainly protect the lender in the event of the buyer defaulting into payment. There are a lot of options within the PMI program. You have upfront PMI, monthly PMI, or lender pa... 10/18/2021