You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. But there can actually […]
There are so many factors that go into a home buying decision that it can make your head spin—especially if you’re in a competitive market where time is of the essence. The desire to purchase a property makes it easy to look past issues that could detract from your enjoyment of the home and […]
Prices are easing somewhat. For the second month in a row, the median price of an existing home dropped. It reached $253,500 in August, after reaching a record high of $263,300 in June, according to the latest data from the National Association of REALTORS®. “Median sales prices typically decline a bit heading into the fall,” […]
Once you are under contract, your lender will send out an appraiser to make sure the purchase price is in line with the property’s value. Appraisals help guide mortgage terms The appraised value of a home is an important factor in the loan underwriting process. Although lenders may use the sale price to determine the […]
By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Home ownership should make you feel safe and secure, and that includes financially. Be sure you can afford your home by calculating how much of a mortgage you can safely fit into your budget. Why not just take […]
Know that there’s no “right” time to buy. If you find the perfect home now, don’t risk losing it because you’re trying to guess where the housing market and interest rates are going. Those factors usually don’t change fast enough to make a difference in an individual home’s price. Don’t ask for too many opinions. It’s […]
You’re probably well aware that there’s more to real estate than just owning your home. There are countless success stories of people who made a fortune or even just a comfortable extra income by investing in real estate. Here’s an overview to get you thinking about an investment property. Improving a home Quickly flipping a […]
REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers: 1. Ethical treatment Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s […]
1. Tax benefits: The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home. 2. Appreciation: Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each […]
It’s easy to be wowed by a house. You’re anxious to discover your dream home and accomplish a big goal. You can’t wait to cook in the brand-new kitchen or relax in the spa-style tub. All that excitement can also make it easy to dismiss some minor issues that can become major annoyances down the […]