HouseHunt Network

A Blog for Real Estate Agents

Month: August 2011 (Page 3 of 3)

HouseHunt gives husband-wife the necessary tools to succeed

By Jaime Westman

A combination of HouseHunt services and more confidence and experience in the sales game has helped Randy and Wanda Hardee carve out their niche in the northwest corner of South Carolina.

“We are doing great,” said Wanda, who works with her husband out of the Western Upstate Keller Williams office in Piedmont. “We’ve had good luck recently, and I don’t know if the leads are better or I’m better at working them, but everything is starting to fall into place and HouseHunt is a big part of that.”

The Hardees started with HouseHunt in September 2009, and Wanda said they had their largest HouseHunt closing to date – $350,000 – in early July, and that they recently got their first listing because of HouseHunt and have the owner of that house under contract to buy another home.

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As house prices fall, closing costs are going up

By Jim Droz

Nationwide, the average origination and title fees on a $200,000 purchase mortgage totaled $4,070, according to Bankrate’s annual survey of closing costs. That’s an 8.8 percent jump compared to 2010 when the average closing costs totaled $3,741.

For the second year in a row, the states with the highest closing costs are New York, where costs average $6,183; Texas at $4,944; followed by Utah with $4,906. Next was California, where average closing costs in San Francisco totaled $4,832.

The cheapest places to get a mortgage are Arkansas, North Carolina and Indiana. In each of these states, the average closing costs are close to $3,400.

Most of the jump in closing costs is tied to fees charged directly by lenders. On average, lenders charged about $1,614 in origination fees this year, up 10.3 percent from last year. Origination fees include lender charges for services such as underwriting and processing.

Fees imposed by third parties, including title, appraisal, postage/courier and survey charges, averaged $2,456, up 7.9 percent from 2010.

While some third-party fees rose, title insurance premiums changed little compared to last year. The survey excludes property taxes, homeowners insurance and recording fees.

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