Why Mortgages Are Taking Longer to Go Through

There are many great Tucson area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 520-544-5555 for a FREE home buying or selling consultation to answer any of your real estate questions.

Last October, the Dodd-Frank ruling finally went into effect and changed a lot of rules for mortgage lending. It doubled, maybe tripled the workload of lenders behind-the-scenes, so lately we’ve run into frequent delayed and extended closings.

Today I just wanted to alert everyone to this problem and remind them that, when you write an offer in this market, it's prudent to be pre-approved. You’ll want to get this up-front before you start looking so you can make an offer right away to get the process moving on quickly.

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Very few lenders have been able to do the standard 30-day close.

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Write your closing date out into the future, around 35-45 days. With the recent changes, very few lenders have been able to do the standard 30-day close with these new rules and regulations.

If you have any questions for me, please reach out and give me a call or send me an email. I would be happy to hear from you.

Why Hire The Vallee Gold Team?

We're not just out to sell houses, we connect people with the perfect home. You're important to us and we respect your decision to put your home buying or selling needs in my hands. When you put your trust in us, you will have access to years of experience & knowledge, right at your fingertips.We give working with you our all, whether you're a first time homebuyer, relocating from another state, or downsizing to a retirement home. We share our knowledge & expertise with your every step of the way.

The Vallee Gold Team - Long Realty Company
1890 East River Road, Tucson, AZ 85718
(520) 544-5555
don@donvallee.com

What our happy Tucson clients have to say

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Sherwood Hamil - "Very positive. We closed on a property and followed through on everything they said they were going to do. Overall it was a very good experience! I would say they went above and beyond regarding inspections. We were unable to be there, so they took care of everything in our absence and did a great job."

James Seifert - "I was very happy with it, good time frame and good price. The materials and strategy they used were excellent. Good photographs, along with nice brochures they placed in front of the house in addition to the basic open house materials. They were excellent to work with and I would recommend them wholeheartedly."

Nancy Campbell - "We bought a house that we love! Don was available whenever we needed to look at houses because we were in and out of town quite a bit, often times very spontaneously. He was very enjoyable to work with, willing, able, I can't say enough good things about him. On a scale of 1-10, he was a 12 or 15! I would refer him to anyone in a moment and you can tell he just truly loves his work! We very much enjoyed working with him and hope to continue calling him a friend."

Gladys Carroll - "We sold our house. The process went very well, it was very quick, and it turned out great. We listed it on one day, and then the next day we had someone view it and they bought it! It went very fast. Don and his team gave us some tips, they put the house up for viewing and they did a wonderful job with that. All the advice and information was fantastic!"

Bob & Judy - "What really impressed us more than anything was whenever we had any questions he answered us immediately! He either picked up or called us right back. It was super! We were never left hanging. When you’re dealing with moving a large percentage of your assets around, there’s a lot of concern on your part. He had quick answers and he never dodged a question. I’d give him a triple-A +++ rating -- he was wonderful to deal with!"

Kim - "We purchased a home in Marana in October and Don was excellent to work with. I moved from New Jersey to Arizona with my husband for work-related purposes and by chance I found Don from an Internet search. He was great from the start and really took a lot of time showing us a lot of homes. The whole process was really stressful and what I liked about Don was that he always got back to me if I texted him, emailed him, or called him -- he was always really quick to get back to me. He really made the whole transition easier and I don’t know what we would’ve done without him!"

Cathy - "I was absolutely thrilled! When I first contacted Don, he went after hours and met me -- not even at his office -- at a halfway point, that was more convenient for me. When we agreed on a purchase price, because it was a short sale, he worked overtime and ended up saving us $10,000 because the appraisal came in lower than our agreed price. So he was able to convince them to give us $10,000 off! Those were two things that were exceptional!"

Rob Spath - "We both sold our houses and found a house to buy. Everything went quick and orderly and they were nice and flexible to meet our needs. There was a situation where we worked with some of the closing cost options and they were flexible to make it all work out for us. I enjoyed working with the team!"

Liz - "We got good results! We were able to find the home that we were looking for. I would say our results were excellent. We were under contract with one home and then we had to quickly change directions and look at other homes. He was always available and very helpful. We were coming from out of town so he was able to show us homes in areas that I wasn’t very familiar with and that ended up being very helpful in our home search."

Kaitlyn - "It was really nice working with the Vallee Gold team because they weren’t pushy at all. We were first time home buyers and they were really good about working with us and making sure that we were comfortable and had the house we wanted. It was perfect! Don even went out of his way on a Sunday and came to show my dad some of the houses we were considering while he was in town. He answered all of our questions and really showed that he cared about us."

Bill - "We’ve done a number to transactions with Don Vallee and the Vallee Gold team over a number of years and have always had good results. They’re very knowledgeable about what they’re doing and are extremely hard workers, which is something that I value a lot. We’ve done real well and have a really good relationship. "

Bob - "When we were searching for a home with Don, we still were trying to figure out whether we wanted to live in Portland or in the Tucson area. After a while we decided to live in Tucson but we were still living in Portland so when we were doing some remodeling on the home we relied on Don to take measurements and other things of that nature. He was very willing to step up and provide very accurate information for us. The whole relationship was cooperative, collegial and it was one of the easiest home buys that we’ve encountered!"

"Don sold my home on Tucson. Home had been on market for many months before I hired him. Original realtors were not successful in generating any traffic. Once I listed the home with Don the home sold in 20 days. Customer service was excellent. Great follow through. Great team he has developed. Would not hesitate to use his services again."

Over the years I have worked with many Realtors. Don Vallee is undoubtedly the best so far. I hope to have the pleasure of working with him on other transactions in the future as he is a man that takes a problem and just solves it. No problem seems too big for Don and his good nature is a big part of that."

"Don did a great job for us! Selling one's home is a hard thing to do. Don was very knowledgeable and patient in helping us make the decision. Once we decided to sell, Don and his team dove right in, and got us listed and on the market. Most importantly, he got quick results. Good job Don!"

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Why Mortgages Are Taking Longer to Go Through

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