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Everybody wants the best mortgage rate they can get, even when rising rates aren’t in the news. But with rates going up lately, people are desperate to find the best deal they can get.

Of course shopping for the best rate is a good thing to do, but more importantly, you should pay attention to whether or not that lender with a sweetheart rate is actually going to get you to the closing table!

It’s funny how lenders want to look at your credit history, your ability to keep a job, and your financial stability, but many home buyers don’t think too much about whether the lender is reliable and a good risk. And yes, the lender you choose to go with is a risk in any market, but all the more so lately…

Whether it’s because they hired too many people to keep up with demand over the past few years, poor management, or that they just can’t handle the market shift, many mortgage lenders are laying off lots of employees, if not entirely going out of business. This is leaving buyers in the lurch in the middle of buying a home, and sometimes just days before their closing.

Picture being totally qualified and going through the majority of the application and underwriting process. Then bam, a day or two before closing, your lender reveals they’re going belly up and won’t fund anymore loans. Or equally as tragic — the lender notifies you at the last minute they cannot lend on one of the condo projects in Mammoth Lakes because nightly rentals are allowed. This may sound like an exaggeration but it can and does happen.

There’s a simple solution: turn to your real estate agent for his or her advice and connections in the business. Go with a lender your agent trusts, can get on the phone, have open lines of communication with, and ultimately push for resolutions when there’s an issue. This is especially important in Mammoth Lakes as many lenders cannot loan on most condo projects because of the transient occupancy component. This link will take you to our current preferred providers.

And don’t be concerned that your agent is recommending someone because they get a piece of the action; there are laws in place to make sure agents aren’t recommending a lender for their own financial gain. The only thing your agent has to benefit from you using one of their recommended lenders is a successful closing!

That’s not to say you shouldn’t shop for the best rate possible. Just make sure you’re doing so with lenders that are solid and aren’t in danger of going out of business, or laying off employees to the point that it’ll affect your ability to get your loan in a timely manner, or at all. This is timeless advice, but all the more critical now when so many mortgage companies are either laying off employees or going out of business.

The Takeaway:

Many homebuyers are tempted to shop for the lowest mortgage rate and trust one who entices them with a tempting rate. Unfortunately, not only do they often switch the initial rate they quoted (or just stuff hidden fees in to make up for the lower rate), there’s always a chance the lender can’t get the loan closed. That’s especially possible now, with so many lenders laying off employees and some going out of business entirely.

While others may gamble with their home purchase, make sure you don’t roll the dice by going with a lender who may offer an enticing rate, but is otherwise a risky bet. Ask your real estate agent for his or her list of recommended lenders.

The lenders an agent tends to recommend are:

  • Ones who’ve proven they’re reliable and get their clients’ loans approved and closed in a timely manner.
  • Ones who’ll honor the rate and terms they quoted. (Not ones who offer a lower rate to get you hooked and then sneak in fees or a higher rate once you’re too far along to switch.)
  • Ones who communicate with them and their clients, and are responsive when there are issues.
  • Ones who offer competitive (if not the lowest) rates compared to other lenders.

Going with a lender your agent recommends could easily be worth more to you than any of the potential savings you may (or may not) get from another lender.

Follow Along on Instagram

There are a few different scenarios for homeowners that are struggling to make their mortgage payments or are “underwater” on their homes (and owe more than what it’s worth)—including short sales and foreclosures. While we don’t see many of either in Mammoth Lakes, this may be helpful for those outside the area.

Read More in my blog... Link in Bio...

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #tipsandtricks
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Make finding your flashlights easier in a power outage by wrapping glow in the dark tape around the handle. I love simple hacks!

Saved me on more than one occasion!

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #tipsandtricks
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Steps to The Village at Mammoth and Canyon Lodge gondola, this totally updated Westin Monache one-bedroom condo is ready for you to enjoy or start renting out today!
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#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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And you know what the A in Zillow stands for, right?!

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Here are a few reasons buyers should finally be feeling more optimistic. 🌟

Wondering if it’s the right time for you to buy a home? We’d be happy to talk through the specifics of your situation. Send us a DM today! 📲

#sonjasellsmammoth #destinationmammoth #mammothrealtor #mammothcabin #mammothcondo #mammothrealestate #bestagentinmammoth
#homebuyertips #homebuyer #firsttimehomebuyer #realestate #realestateagent
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The Mammoth Lakes Ice Rink is officially open! Come join in even more winter fun! Located near the Mammoth Lakes Library.

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Happy Thanksgiving From Beautiful Mammoth Lakes CA!

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Have you watched homes on your street sell for sky-high prices in the past few years?

It’s tempting to aim high when it comes time to sell your home—but proceed with caution.

The market is adapting to rising mortgage rates, and homes simply aren’t selling as fast. Unfortunately, the longer a home is listed, the more buyers’ concerns begin to grow.

Of course, you also don’t want to sell your home for less than it’s worth.

That’s why it’s important to work with a local market expert. We know the ins and outs of the local real estate market and what buyers are willing to pay today.

The good news? If you’ve been in your home for several years, you are likely to have a sizable amount of equity. That means you stand to make a tidy profit. 🤑

Get in touch for a free home value assessment to find out what your home could sell for in today’s market!

📲 760.914.4664
📧 [email protected]

#realestatetips #housingmarket #homeowner #homesellers #personalfinance #realestate #realestateagent #homesforsale #realestateinvesting #sellmyhouse #mammothrealestate #sonjasellsmammoth #mammothcabin #mammothlakesrealestate #mammothrealtor #destinationmammoth
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Mammoth Lakes - Best Ski Town!
Exciting news. Mammoth Lakes has been nominated for Best Ski Town in America in the USA Today 2022 10Best Readers’ Choice travel awards. But also, Clocktower Cellar has been nominated for Best Ski Bar!

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #bestskitown #bestskibar #bestskitownusa
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November Market Update!

Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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While I am often accused of being an eternal optimist, there are some valid reasons for having a positive outlook on the current real estate market.

When you’re hearing news about home prices remaining high, and mortgage rates skyrocketing, you might wonder how a real estate agent can possibly claim it’s a great time to buy. Or, on the other hand, you read that sales prices are coming down and it’s taking longer to sell because rates have gone up, it may make you question how agents can claim that it’s a great time to sell.

You might feel like agents always seem to be constantly putting a positive spin on the current real estate market, and think they’re doing it out of self-interest. After all, they only make money if and when someone buys or sells a house, so of course they’d want people to feel like it’s always a great time to buy or sell real estate.

Link to full article in bio.
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"Sonja was so professional and wonderful to deal with. She stepped in when our original realtor bowed out after we drove 5 hours to look at real estate. She stepped in without a single hiccup and then stood by us as we negotiated the purchase price and was with us helping us get the mortgage. She was a full service realtor even doing things not normally done by a realtor. Highly recommend her."

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #testemonial
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Curious about what they are building in town near The Stove restaurant?? A new recreation center is coming to Mammoth Lakes! For more check out my blog...

Link in bio...

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Sonja is super excited to help her clients sell their St. Anton condo -- they are doing a 1031 exchange and will be buying in another state. The good news is they still own in Mammoth Lakes and will be around for years to come. A local full time resident is the new owner and will call this place home....just in time for the holidays! Thanks to Lauren Tracey and Sierra Escrow.

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate @side_realestate
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How can you get the most money for your home in today’s market? 💰

The real estate market is cooling. But it’s still possible to score a great offer if you follow these tips:

🛠️ Make strategic repairs and improvements
🧹 Declutter and depersonalize
🛋️ Stage your home for success
🧽 Prep for each showing
💸 Price your home correctly from the start

Searching for more home seller strategies to maximize your sale price? Check out our blog post!

🔗 LINK IN BIO

#realestatetips #housingmarket #homeowner #homesellers #personalfinance #realestate #realestateagent #homesforsale #realestateinvesting #sellmyhouse #mammoth #mammothrealestate #mammothlakesrealestate #mammothcabin #mammothrealtor
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Mammoth Holiday Tip:
Morrison's is a great dinner option for the whole family. A fan favorite is the Barrumundi.

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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OPEN HOUSE!
895 Canyon Blvd #34
Mammoth Lakes, CA 93546

Stop by and check out this condo right next door to Canyon Lodge!
Saturday, November 19
2 PM - 5:30 PM
Hosted by Destination Real Estate REALTOR® Danielle Bauman

Link in bio...

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Save your empty toilet paper rolls and dryer lint for DIY fire starters. Just stuff the tubes with the lint and you've got free kindling for your grill, campfire, or fireplace.

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #tipsandtricks
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Check out my latest newsletter for all the Mammoth Lakes real estate updates and information!

Link in bio...

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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