Friday, July 31, 2015

"I want to price my house higher than market value to see if I can get it!" Oh, dear.

This attitude is understandable, but often ends up having the opposite affect. An unrealistic asking price results in few showings and no offers! Price it right from the start  if you are serious about selling.  Otherwise your home will likely languish on the market, become stale, and you will eventually need to reduce the price anyway!

Tuesday, April 28, 2015



What is PMI?
Private mortgage insurance, or PMI, is an insurance that protects the lender/investor if you are unable to pay your mortgage. All conventional, conforming loans backed by Freddie Mac without at least 20% down require some form of credit enhancement or PMI.

How much can I expect to pay in PMI?
It varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $40 and $80 per month for every $100,000 borrowed.

Why should I pay PMI?
The value may be getting your foot in the door at today's historically low mortgage rates and affordable home prices in many parts of the country.

How long will I have to pay it?
You'll have to pay it until you’ve built more than 20% equity in your home. Borrowers with FHA loans are responsible for paying FHA mortgage insurance premiums for the life of the loan.

Can I cancel my PMI if my home increases in value or if I made extra payments?
If you are current on your payments, PMI will automatically terminate on the date when your principal balance is scheduled to reach 78% of the original value of your home. That date will be given to you in writing on a PMI disclosure form when you get mortgage.

You can also request that your lender cancel your PMI if you have made additional payments or if rising home values have increased your home equity to more than 20%.

If you have more questions about PMI or other issues related to purchasing a home, contact me!  I'd love to help!

Wednesday, February 11, 2015

Very nice reviews from recent clients!

"Betty is a fabulous realtor and bent over backwards to accommodate our wants and schedule. She helped us to find a house we are beyond thrilled with. She showed us 21 homes in one day because we were coming from out of town and had to make a quick decision. She kept in contact with us every step of the way and made sure we knew everything that was going on. Her knowledge of the area and builders was very helpful. I wouldn't use anyone else in the greater Tyler area for my real estate needs!! " - Lauren Geis

"Betty is a great combination of patient, friendly, smart, and knowledgeable. We moved here from out of state and she helped us become familiar with the schools and neighborhoods that she knows well from living and working in the Tyler area for years. Betty diplomatically helped our family navigate the challenges of working out different preferences and needs/wants for home features within our budget. She cheerfully showed us homes multiple times so that both my husband and I could see them. It's helpful that in a previous career Betty remodeled homes, so she knows what things can be changed about a home easily and where to look for the red flags indicating a need for expensive renovations. Betty helped keep me calm and informed from the time we put in an offer to the time we closed on the house. I loved working with her and would happily choose her again if I'm ever in the market for another home." - Bethany Jensen 

"Betty is a wonderful,knowledgable and experienced professional ! She immediately made us feel comfortable and relaxed while leading us through the entire process.She guided us through several different areas and price points and offered several helpful suggestions.She handled the negotiations of the price and handled all details efficiently.Betty was not involved in the sale of the home we sold.However,Betty served as a friendly and calming influence while the finalization of that transaction lingered.We could not be more pleased with Betty Davidson ! We would highly recommend her to anyone ! Her professionalism and genuine concern made us feel like we have made a dear friend.We are very blessed to have worked with her !" - Bob and Sherri Best