Real estate lost a lot of value during the recession but most areas have rebounded considerably. In some cases, the homes are worth more than they were before the housing bubble burst. The dynamics are classic for this type of market: inventories are low, mortgage rates are low and demand is high. All price ranges […]
There is an infrequently-used mortgage program available that could be the solution to a buyer’s or seller’s problem. A temporary buydown is fixed rate mortgage that the seller has prepaid interest at closing to lower the payments for a number of years. The borrower must qualify at the note rate but gets the benefit of […]
Buying rental property can be an excellent decision and the better informed you are, the more likely you’ll have favorable results. The following suggestions can help you with your decisions. Real estate is a long term investment affected by supply, demand and the economy. It isn’t an investment that is easily converted to cash. The […]
“If I tell you it’s going to rain, you can put the buckets on the porch.” If you grew up in the south, you may have heard this expression when a person is testifying to the veracity of his word. If you know a person and/or their reputation, you know whether you can trust their […]
Credit scores are used by lenders to measure the credit worthiness of borrowers. While there are several different companies that offer scores, the FICO, Fair Isaacson Corporation, is the model that is used most often. There are five key components that determine the overall score or rating. The most emphasis, 35% of the overall score, […]
A homeowner’s tax savings benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes. Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year. It is possible […]
You might be surprised how many people contact real estate offices because they want to buy a home but they don’t have the down payment or the credit to qualify. Occasionally, an agent will be working with someone who does have the down payment and credit but for whatever reason, decides to postpone the decision […]
“Anyone may arrange his affairs so that his taxes shall be as low as possible…” While Judge Learned Hand was talking about federal income taxes, it can be applied to property taxes as well. States have a process of assessing the value of a property based on a number of things that can include size, […]
Leverage gives the user a maximum advantage whether it is physically lifting a large object or rapidly building equity in a home. In the case of the home, the high loan-to-value mortgage allows the profits made to be greater than simply the cash invested. A $250,000 home can be purchased on a FHA loan with […]
Ask any real estate professional if they have sold a house without the buyer having physically seen it and they’ll most likely tell you they have. While it may have been an unconventional sale, it is more prevalent today than it was twenty or even ten years ago. The digital world of the Internet has […]
