Saturday, January 3, 2015

Do You Know the Value of Your Home?

Home Values

Real estate professionals use a Comparative Market Analysis (CMA) approach to assess a home's market value: a well-executed CMA provides a sound basis for a home value discussion. Ultimately, you must decide the price to ask for your home. Regular feedback from the listing agent will provide information about revisiting the pricing strategy, if the asking price does not generate the desired offers.
A CMA Will Include Comparable Property Information:
  • Sales closed within the last 3-6 months
  • Properties currently under agreement
  • Active listings
  • Withdrawn and expired listings
And A Range Of Values Based Upon:
  • Neighborhood
  • Age of property
  • Conditions of property
  • Features of property
With A Marketing Plan:
  • Tailored to your property
  • Detailing the specific services provided
A homeownership professional specializing in the local market is best qualified to give you an accurate assessment of your home's current market value, and to help balance market realities with your dreams, allowing you to establish the most effective marketing program, including an asking price that generates active buyer interest.

If you are thinking of listing your home in 2015 you need to know what it's worth. Call Lisa Morrison and The Newport Group for a CMA of your home.    401-849-3339

article source-Coldwell Banker New England 

Friday, December 12, 2014

It's about to get Easier to Get a Mortgage.

For years now, if you didn't have near perfect credit and a hefty 20% down payment, chances were slim that lenders would give you a mortgage.
That's because Fannie Mae and Freddie Mac, the two government-backed mortgage giants that backstop a majority of all mortgages, have put new lending guidelines in place that should make it easier for borrowers to secure loans.
Not only are the two agencies lowering down payment requirements and making it easier for loans to be classified as qualified mortgages, but more importantly, they have clarified when lenders will be on the hook if borrowers default.
In the past, Fannie and Freddie have been able to force lenders to buy back loans that have defaulted soon after it was issued, if any mistakes were made in the paperwork or if there was borrower fraud.
"Lenders have been real concerned about these buybacks," said Doug Lebda, CEO of LendingTree. "If problems arise with loans, the [Fannie/Freddie] guarantee often fails when lenders need it the most."
Mel Watt, the head of the Federal Housing Finance Agency, acknowledged that the previous policy made it hard for lenders to understand exactly when Fannie Mae or Freddie Mac would require the banks to repurchase loans.
Under the new rules, any loans with no missed payments for 36 consecutive months after they were first issued will be backed by Freddie or Fannie should they default. The agencies will also allow two missed payments in the first 36 months without forcing borrowers into foreclosure.
And if private mortgage insurance, which is required for all low downpayment mortgages, is rescinded, say due to errors made in the underwriting process, lenders will not automatically be required to repurchase the loans.
"That makes the Fannie/Freddie guarantees more like real insurance," said Lebda.
According to Lawrence Yun, chief economist for the National Association of Realtors, the buyback issue has been "the number one hindrance to mortgage lending lately. If it disappears, it would be a big boost to mortgage lending."
Freddie and Fannie have also said they will start backing 3% down loans. Borrowers can currently get 3.5% down loans from the FHA, although they require borrowers to pay mortgage insurance premiums for the life of their loans.
The new low down payment loans should help boost homebuying among low-income andfirst-time homebuyers, who have been conspicuously absent from the housing market over the past year.
Lenders already seem to be loosening up a bit.
Mark Palim, who oversees economic and strategic research at Fannie Mae, said average credit scores for approved loan applications have dropped slightly over the past few months and lenders are doling out loans with lower down payments as well.
According to the Federal Reserve, nearly 14% of senior loan officers said their banks had gotten less strict in the three months ended in October.
Of course, lenders are not expected to return to the lax underwriting standards of the boom years. Banks are much more careful these days, making sure that all mortgages are fully documented, said Palim.
They don't want to look irresponsible, or worse, predatory. "They're very concerned about reputational risk," he said. 
If you are thinking of buying a home in Rhode Island, Massachusetts, or Connecticut, call Lisa Morrison and The Newport Group-the local Experts in the New England Real Estate Market.   401-849-3339

Wednesday, December 3, 2014

Sold This Year by Lisa Morrison and The Newport Group

Taken at The Newport Group of Coldwell Banker These are a few of the properties we have sold this year. Contact Lisa Morrison and The Newport Group - Coldwell Banker Residential Brokerage if you are considering listing your property or would like to get more information on the current market in your area and find out what your home is worth. See the properties here:

Monday, December 1, 2014

3 Faroe Ct, Warwick, RI 02889

3 Faroe Ct, Warwick, RI 02889: 3 Faroe Ct, Warwick, RI 02889 — Beautiful 3-4 bed Gambrel Colonial on quiet cul-de-sac on rare nearly 1/2 acre lot! Enormous bedrooms, gorgeous wide-plank refinished floors, large EIK, wood stove FP. Enjoy your own private retreat in-ground pool, patio! Amazing value @ $108/sq ft!

Thursday, November 20, 2014


For consumers who are considering purchasing a new home, questions will certainly arise about financing. How much can I afford? What mortgage products are available? Which type of loan will work best for me given my income and financial situation? What is the difference between being pre-qualified and pre-approved for a loan? These are all questions that are likely to be asked.

Obtaining proper guidance about mortgage loans has become even more important in recent years as mortgage lending standards have tightened, making it more challenging for home purchasers to go through the mortgage qualification process.

But the housing market received a boost recently when federal regulators made some significant changes to mortgage rules that housing experts predict will make it easier for qualified homebuyers to access financing. Regulators agreed to drop a proposed requirement that borrowers make a 20% down payment to qualify for a low-interest, high-quality mortgage.

This is welcome news for homebuyers in many markets who despite having strong credit scores and stable employment would find it difficult to save for a large down payment. The new rules ensure that “responsible homebuyers have access to safe and affordable credit,” according to the National Association of Realtors.

The National Association of Home Builders also praised the new rules saying they would “help ease tight credit conditions for borrowers and reduce future defaults without punishing responsible borrowers and lenders.”  

If you need financing to purchase a property, it is prudent to consult with a Coldwell Banker Residential Brokerage affiliated real estate professional before beginning the home search. The Newport Group of Coldwell Banker Residential Brokerage  has affiliated partnerships with mortgage lenders and a sales associate can quickly connect you with an experienced loan advisor who can assist you. 

Whether you’re a first-time homebuyer, or a home seller looking to move-up or downsize, you can learn more about your mortgage options by contacting a The Newport Group-Coldwell Banker Residential Brokerage sales professional today. 

Call today 305-849-3339
or email us


Sunday, November 16, 2014

Use a Real Estate Agent Even After Finding Your Perfect Home

With the vast amount of real estate information available online, some home buyers choose not to hire a real estate agent at all. While you may succeed in finding a home, an agent is extremely helpful in the negotiation process. He or she also helps to ensure you don't miss relevant legal documentation or paperwork which could cause trouble later.

A good real estate agent can have years of experience in a local area and may know what the best neighborhoods are just from your description of your ideal home. In addition to their ability to find more listings and efficiently narrow things down, agents stay informed about current developments in a neighborhood, which may be difficult for home buyers not from the area.
Lisa Morrison and The Newport Group are the trusted experts in the Real Estate Market in Newport, Rhode Island and the surrounding areas. Their diverse team of Real Estate Professionals can give you insider knowledge about the local housing market, schools, community activities, local restaurants and more. 
Learn more about Lisa Morrison and The Newport Group-Coldwell Banker Residential Brokerage here:

Tuesday, October 21, 2014

Lisa Morrison of The Newport Group is The Expert in Luxury Property in Rhode Island, Massachusetts, and Connecticut

When looking for a Realtor in Rhode Island, Massachusetts, or Connecticut, look no further than Lisa Morrison of The Newport

With over 20 years is the Real Estate Business, Lisa knows the ins and outs of the business and has made it her professional mission to become an expert in the luxury home market in her native state of Connecticut and her now home state of Rhode Island. With Massachusetts so near, it was a natural progression to lean everything about the housing market in her neighboring state as well. 

Lisa is an  ambitious hard worker, it has been her consistent enthusiasm, dedication and persistence that set her apart.  Her ability to recognize the needs of her clients and “Making the Match” is her trademark! When you are looking for luxury property and a Real Estate Professional that you can trust, call Lisa Morrison of The Newport Group- 401-849-3339

Here is what some of Lisa's clients are saying about her:

I bless you every time I enter my Newport home!
I have used numerous real estate people in the past and you are, by far, the hardest working woman I know.
Your attention to all the detail that is involved in a real estate transaction is unsurpassed.
You care for your clients and take a personal interest in their happiness.
You listened carefully to my “story” and instinctively knew what I wanted and needed in a home and worked tirelessly to find the right fit for me.
Because of this, I have recommended you to my friends who want to purchase a home in this area and they are delighted with their experience as well.
You make a sincere effort to ensure that your clients are comfortable in their new community.
No one knows and loves the Newport area as much as you do.
You love what you do and it shows.
You are such an amazing agent, but an even more amazing person.
You made my dream of a happy place for friends and family to gather a reality.
You are known to my family and friends as Lisa Real Estate and all of them hold you in high regard.