What You Need To Know About Your Home Appraisal And Your Mortgage
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing. It’s easy to overlook the impact of some of these steps, but when it comes to a mortgage, the home appraisal is actually quite important. Banks want to see that they are lending money for an investment that is worthwhile, so that appraisal is a crucial step to getting financing. Here is what buyers need to know about how the appraisal could affect their mortgages. Understanding The Home Appraisal Process The home appraisal … [Read More...]
Green Technology To Reduce Your Home’s Carbon Footprint
When you are a homeowner looking to reduce your carbon footprint, there are a number of steps you can take to make your home earth-friendly. From passive solar heating to solar panels, you can make a difference in the impact your home has on the environment. Even when you aren't building a new home, changes can be made to an existing property to increase efficiency and reduce reliance on utility systems. Invest In Solar Power Solar panels are one of the most popular ways to reduce your carbon footprint, and with good reason. Solar panels often produce enough electricity so that you have energy to sell back to the energy grid every month. Over time, solar panels on your property can earn you … [Read More...]
Thinking About Buying A Fixer-Upper? Know These Top Resources To Make The Most Profit
If your financial situation is limited, yet you're handy with a hammer and nails, then purchasing a fixer-upper home can be an attractive option. Fixer-uppers typically require a bevy of updates and repairs to bring the home up to current market conditions. Because of this, the listing price is often considerably less than a move-in ready home. Your trusted real estate professional can help you find the best projects to buy and sell. Getting Started Fixer-uppers aren't for everyone, but there are plenty of resources available if you plan to do most of the repair and upgrades yourself. Let's take a look at a few top resources to tap into if you're in the market for a fixer-upper or if … [Read More...]
What’s Ahead For Mortgage Rates This Week – May 21st, 2018
Last week's economic releases included the National Association of Home Builders Housing Market Index for May, Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage rates and first-time jobless claims were also released. Home Builder Confidence Rises in May According to the National Association of Home Builders, home builders surveyed indicated higher confidence in housing market conditions for May. April's reading was downwardly revised to an index reading of 68; analysts expected a reading of 69. May's home builder confidence reading was 70. Any reading over 50 indicates that more builders consider housing market conditions to … [Read More...]
Important Reasons A Renter Should Not Pay Your Mortgage Payment
When it comes to a property that's been financed with a mortgage, homeowners can experience the need or desire to live elsewhere from time to time. Renting may be considered as a way to recover some of their costs when they are not using their home. In some cases, homeowners - when acting as landlords - may also consider that it's more efficient to have the tenant pay their monthly mortgage payment directly to a lender. After all, the money is just being received and turned over in another check to the lender anyway. It may seem like a logical idea to skip the two-step hassle but, in reality, it's not a great idea. Equity Matters First off, one has to understand and remember what a mortgage … [Read More...]
Pet-Friendly Homes: Some Selling Do’s and Dont’s
Nearly 70 million American households include at least one pet, but most prospective buyers won't want to see evidence of pets in a home on the market. Here are some tips about how to sell a pet-friendly home. Prior To Listing Point out special pet features to your real estate agent -- a cat door, feeding station or a pet shower, even a fenced back yard or a dog run can be a bonus to many buyers. It's important to remember that buyers want to imagine their pets in the home, not yours! Minimize your pet's presence by decluttering pet supplies as well as your personal items. While it is best to downplay non-human residents in a home for sale, some pets are more difficult to camoflage … [Read More...]
Selling Your Home FHA? Learn These Tips To Ensure A Smooth Closing
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA's standards. FHA won't insure loans on just any property. While their standards aren't as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing. Location and Lot To qualify for FHA financing, the property has to be located on a road or easement that lets the owner freely enter and exit. The access also has to be paved with a surface that will work all year -- a long dirt driveway that washes out in spring won't qualify. The FHA also wants the lot to be safe and free of pollution, radiation and other hazards. For … [Read More...]
Tips For Home Buying In The Digital Age
The digital age has changed the way buyers browse for and purchase goods and services, including real estate. While home buyers still can check out property listings via a print newspaper or by driving through desired neighborhoods in hopes of finding a "for sale" sign, digital sources offer more options and can make the home buying process easier. The National Association of REALTORS® (NAR) states in their 2017 Report: Real Estate in a Digital Age, that 44-percent of home buyers look online when beginning their search. Social Media As Sources For Home Buyers According to the Pew Research Center, 68-percent or two-thirds of U.S. adults use Facebook. In addition to that popular … [Read More...]
5 Important Questions to Ask When Buying New Construction
Buying a new home is exciting. Buying a brand new home can be even more so with the realization of being the first owner and possibly being able to choose your own layout and finishes. The prospect of owning new construction is definitely exciting, but it doesn't come without its own set of questions. If you're in the market for a new home, and considering new construction, make note of the questions below when you begin your property search. What Are The Long Term Plans For The Community? Unless you're looking at custom homes on acreage, it's likely new construction in your area will be located in a new development or in a master planned community. With this in mind, feel free to ask about … [Read More...]
