{"id":1515,"date":"2007-06-07T08:34:17","date_gmt":"2007-06-07T15:34:17","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1515"},"modified":"2007-06-07T09:07:29","modified_gmt":"2007-06-07T16:07:29","slug":"where-did-your-40000-go-or-why-your-buyers-prequalification-needs-a-refresher","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1515\/where-did-your-40000-go-or-why-your-buyers-prequalification-needs-a-refresher\/","title":{"rendered":"Where Did Your $40,000 Go? , or Why Your Buyer&#8217;s Prequalification Needs A Refresher"},"content":{"rendered":"<p>Just a quick note to the real estate agents that read Bloodhound Blog: now would be a terrific time to have <em>all<\/em> of your buyers re-prequalified for a home.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.amnh.org\/education\/resources\/rfl\/web\/earthmag\/mundo\/images\/poof.gif\" align=\"right\" \/>Mortgage markets are suffering through an old-fashioned beatdown and some rates for some products are now sitting 0.750% higher than they were just 10 weeks ago.<\/p>\n<p>The last 48 hours account for 0.250% of that increase.<\/p>\n<p>Your buyer&#8217;s prequal from even <em>two weeks ago<\/em> is likely worthless.<\/p>\n<p>As a real-life example, consider a client that can afford a $2,100 monthly mortgage payment and wants an amortizing loan.<\/p>\n<ul>\n<li>April 7: $350,000 loan size = $2,100 payment<\/li>\n<li>June 7: $310,000 loan size = $2,100 payment<\/li>\n<\/ul>\n<p>That&#8217;s a $40,000 difference &#8212; <em>poof<\/em>!<\/p>\n<p><em>(Image courtesy: <a href=\"http:\/\/www.amnh.org\/education\/resources\/rfl\/web\/earthmag\/mundo\/images\/poof.gif\">American Museum of Natural History<\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just a quick note to the real estate agents that read Bloodhound Blog: now would be a terrific time to have all of your buyers re-prequalified for a home. Mortgage markets are suffering through an old-fashioned beatdown and some rates for some products are now sitting 0.750% higher than they were just 10 weeks ago. [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[],"class_list":{"0":"post-1515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":627,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/627\/excessive-buyers-agents-commissions-at-new-builds-killer-deals-often-come-with-payoff\/","url_meta":{"origin":1515,"position":0},"title":"Excessive buyer&#8217;s agent&#8217;s commissions at new builds: &#8220;Killer deals often come with payoff . . . &#8220;","author":"Greg Swann","date":"November 10, 2006","format":false,"excerpt":"This is my column from today's Arizona Republic (permanent link). I don't write the headlines, and I don't think this one is terribly representative of the article, but it is what it is. I asked the paper to change the attribution to use BloodhoundBlog's web address rather than my phone\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9306,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9306\/why-should-you-enlist-a-buyers-agent-to-help-you-buy-a-home-because-youll-get-a-much-better-deal-even-if-you-pay-full-price\/","url_meta":{"origin":1515,"position":1},"title":"Why should you enlist a buyer&#8217;s agent to help you buy a home? Because you&#8217;ll get a much better deal &#8212; even if you pay full price","author":"Greg Swann","date":"July 25, 2009","format":false,"excerpt":"This from my Arizona Republic real estate column (permanent link): Are home-buyers best served by the vigilant efforts of an experienced buyer's agent? Consider a transaction we have in play right now. The buyers are a young couple, about to be married. They have about $10,000 in cash. With a\u2026","rel":"","context":"In &quot;Flourishing&quot;","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6180,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6180\/workable-real-estate-deals-may-require-even-more-creativity\/","url_meta":{"origin":1515,"position":2},"title":"Workable real estate deals may require even more creativity","author":"Greg Swann","date":"December 20, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Workable real estate deals may require even more creativity I do a lot of work with buy-and-hold rental home investors, more and more of whom are able to come into Phoenix with all-cash offers. Poor me, I\u2026","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":521,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/521\/the-fetal-flat-fee-contract-language\/","url_meta":{"origin":1515,"position":3},"title":"The fetal flat fee: Contract language . . .","author":"Greg Swann","date":"October 7, 2006","format":false,"excerpt":"The first transaction we do with the flat fee as a matter of policy will probably come together tomorrow or Monday, but, as I had mentioned, Cathy has been playing with the idea. She has a contract in play right now, so I had to write language for the Buyer-Broker\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1659,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1659\/divorcing-the-real-estate-commissions-is-simply-a-matter-of-hud-1-bookkeeping-effected-by-the-mortgage-lender\/","url_meta":{"origin":1515,"position":4},"title":"Divorcing the real estate commissions is simply a matter of HUD-1 bookkeeping effected by the mortgage lender","author":"Greg Swann","date":"July 15, 2007","format":false,"excerpt":"In a charmingly romantic post this morning, Jonathan Dalton gets bogged down in the all-too-common idea that divorcing the Realtors' commissions would impose some new financial burden upon buyers, resulting in their loss of representation. This is false. Although we operate by the fiction that the seller pays the real\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2208,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2208\/a-consumers-guide-to-the-divorced-real-estate-commission-undermining-the-arguments-in-support-of-the-status-quo\/","url_meta":{"origin":1515,"position":5},"title":"A consumer&#8217;s guide to the divorced real estate commission: Undermining the arguments in support of the status quo","author":"Greg Swann","date":"November 11, 2007","format":false,"excerpt":"Part V: Why arguments for the current method of compensating real estate agents and against divorcing the real estate commissions must fail As I write this, the National Association of Realtors is preparing for its annual convention, to be held this year in America's playground, Las Vegas, Nevada. This year\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1515"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}