We've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun...
Q
What is considered the primary factor distinguishing buyers of prestigious properties from the average home buyer?
A
Financing doesn't worry these buyers; they often put down 40 percent or more or pay cash for a property
Q
What has been described as the world's most beautiful building?
A
The white marble Taj Mahal in India was built by the Mogul emperor Shah Jahan (1631-53) to enshrine his favorite wife.
Q
What are considered the ideal conditions for a buyer's market?
A
In a buyer's market, there are more houses for sale than buyers, homes take longer to sell, and sellers may have to cut prices.
Q
Who is "Freddie Mac", and why is he a big name in real estate?
A
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans.
Q
What is arguably the world's strangest (and most dysfunctional) kitchen?
A
In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California.
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Financing Your Home >New Loans
If you are considering applying for a mortgage to purchase a new home or to refinance your present home, don't delay. Despite fluctuation in interest rates, lenders are still processing many new loan applications.
You should gather all the necessary paperwork before you apply, and submit your loan application as soon as possible. At a minimum, the information required by a lender will consist of proof of your earnings and a clear picture of your total monthly income and expenses. If you are self-employed, or have long-term obligations such as alimony or child support, the preparation time and the amount of paperwork increases.
Despite the need to move rather quickly for a mortgage in today's market, you should "make haste carefully." Shop carefully for your loan by comparing all costs and terms. With the number of lenders vying for your business, new and better deals are always appearing.
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Suzanne and Liz Luby begin each client relationship with a simple commitment to superior service. With more than twenty years of experience in the Barrington, Inverness and Chicago Northwest Suburban markets, Suzanne and Liz Luby offer home buyers and sellers expert real estate guidance based on the highest professional and ethical standards.
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