It’s hard to resist a good bargain. And U.S. homes are currently the biggest and best bargain on the block. Many prospective home buyers are taking advantage of a housing market made vulnerable by a down-and-out economy. The latest Housing Opportunity Index released by Wells Fargo and the National Association of Home Builders reported approximately 53.8 percent of all new and existing homes sold nationwide January through March 2008 were affordable for families earning the median household income of $61,500—a 44 percent increase from the first three months of 2007. In fact, these are the most affordable prices since June 2004.
Granted, one must consider the Index doesn’t account for buyer expectations. Even though it’s a buyer’s market, a lot of people remain reluctant to take action in an unstable climate. With competition levels skyrocketing, real estate professionals are losing jobs faster than one can say “sold.” For those fortunate enough to continue serving this market, it is even more vital to turn potential customers into active customers. However, the knowledgeable distributor will ultimately get the sale. To learn more about the selling opportunities real estate can bring to the printing industry, Print Professional spoke with several leaders in the market.
Nobody likes to hear the “F-word,” but today it’s inevitable. More than one million homes are in foreclosure. New studies suggest consumer confusion is to blame. The Urban Institute found that after purchasing a home, many American consumers overpay—by thousands of dollars—in total closing costs. In addition, disparities exist among total loan fees and title fees. Essentially, Americans are signing piles of documents they can’t comprehend, and are literally paying the price.
To assist end-users and their customers with the complexities of legal documents, Data Legal, the Legal Documents Division of Pummill Business Forms/Concept Forms, Grand Rapids, Mich., has taken extreme measures to stay up-to-date with regulations mandated by local, state and federal agencies. The company offers a vast product line of residential lending documents aimed at the mortgage lending industry, including federally mandated and RESPA documents such as: HUD Settlement Costs and Helpful Information booklets; Truth in Lending Disclosures and Consumer Handbook on Adjustable Rate Mortgage booklets; and other origination documents, like Home Equity Lines of Credit booklets; Uniform Residential Loan Applications and HUD case binders.