first time home buyers: The Hard Numbers- The Harsh Reality of Renting
- 04/05/12 01:47 AM
The Hard Numbers- The Harsh Reality of Renting Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment and in many cases today this still remains true. (Remember always buy low and sell high) It is an achievement that offers a sense of pride, financial stability and potential tax advantages.Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. … (4 comments)
first time home buyers: Back to School Around the Corner
- 08/11/11 10:22 AM
It is nearly back to school already! Rates are still the lowest they have ever been and there are many deals to be had on the market. I just wanted to make sure you knew we are here to help when you are ready to purchase a new home, vacation home or even refinance your current home.
Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Many loan programs are still available and it is important to find the one that best fits your personal long-term goals.First and foremost, you must have a mortgage consultant in your corner that is willing to take the time to know what your long-term goals are. Communication and education are the key factors here. Curious prospective home buyers sometimes turn to Internet-based services just to see … (0 comments)
first time home buyers: Grand Rapids, MI It is a Buyers Market
- 05/11/11 09:09 AM
Grand Rapids, MI Buyers Market Economics 101 I was reading an article today on ten ways to survive the housing market and I got to thinking, what is the best thing a home owner could do to survive this slow moving market. Suddenly it hit me as I was reading number three on the article, BUY! The United States housing market is like a gigantic Wal-Mart right now with 20-30% savings on everything from Mansions to Apartments. One of the most common sayings when at the grocery store is "No it's not on sale." Homes are on sale! With prices predicted … (0 comments)
Buying a home can be a complex process, but it doesn't have to be. With a little preparation, you can save a lot of time and hassle by having all of your documents ready when your mortgage professional needs them.To start with, the lender will need personal information to verify employment for you as well your co-borrower (if there is one). Information regarding all of your debts and assets will also be needed.In order to expedite the paperwork process, start gathering the following items: Two Most recent pay stubs. … (0 comments)
Prior to 2003, underwriters were required to dot the “i”s and cross their “t”s. Then all heck broke loose and about anyone who could fog a mirror, was able to get a mortgage.Well, the pendulum has swung back the other way. Fannie, Freddie, FHA and even VA have issued more stringent rules and regulation updates in the last 24 months. The last big shake up like this was back in the early 80s, with the savings &; loan crisis! So, what are the 6 top reasons why more loans are being … (2 comments)
first time home buyers: Short Sales: Ask Your Agent
- 05/05/10 04:49 AM
Short Sales: 8 Top Questions to Ask a Listing Agent If you’ve sold a short sale within the last year or two, you know how difficult and time consuming it can be—especially if you are working with the buyer. And then, you have the lender, who has to keep re-verifying info and updating credit reports and appraisals! Whew! If you are working with a listing agent who does not have experience in working with short sales—you’re either in for a wild ride—or a frustrated (or lost) buyer. Here are some questions to ask the listing agent—before you submit a contract! At … (2 comments)
We have had many Agents and Consumers asking us exactly what they have to have done by April 30th for the tax credit and what they need to do to get the credit. At a mortgage level there is no additional guidelines except to close by June 30th. Here are the quick details you need to know:
To qualify for this credit you must have a contract in place by April 30, 2010 with a closing taking place by … (2 comments)
We all know that purchasing a home is a complicated process that is much easier with the assistance of experts such as a Real Estate Agent, Mortgage Professional, Financial Planner, Attorney and Insurance Agent. I wanted to through out some great online resources that can also assist in making this a smooth process weather you are a first time home buyer or a seasoned home owner.
REMEMBER: The tax credits are expanded to members of the military, foreign service and those in the … (0 comments)
BUYER VS. SELLER: A HARSH REALITYI have read a few posts on Rain lately that ring to the harsh realities of the market we currently face. Buyers are looking for the best deal in the market and many are pressed for time trying to grab up the home buyer credit. The sellers are looking to get as much out of their home as possible and many times with understanding the market itself. As agents you try to put everything into perspective for both parties but in … (3 comments)
first time home buyers: Home Buyer's Tax Credit
- 03/26/10 10:11 AM
THE HOME BUYER'S TAX CREDIT IS COMING TO AN END TAKE ACTION NOW! KNOW YOUR CREDIT SCORE BE INFORMED Here is what you need to know: Qualified 2009-2010 first time home buyers may receive up to 10% of the home's purchase price or a maximum of $8,000. This credit has also been extended to include current homeowners who purchase a new primary residence (this is also up to 10% of the purchase price or a maximum of $6,500). Current homeowners must prove they have lived in their home for the last five-consecutive years. This credit does not have to be paid … (4 comments)
47% of all home purchases where made by 1st timers leaving 53% for repeat buyers (a 7% increase for last year) Internet and yard signs are the best method used for buyers and sellers to find a home and choose their agent (don’t spend your $$$ on magazines and newspaper ads, they are only read by 27% of buyers) 66% of buyers and sellers where happy with their agent, BUT only 17% used the same agent (does this make you want to get your database set up and stay on top of these … (2 comments)
first time home buyers: 2008 NAR Survey- Demographics
- 02/25/10 08:40 AM
This is GREAT information from the 2008 NAR SurveyI have been reviewing this information and will be posting the fact for you to consider when working with first time home buyers.Prices continue to fall and there are great Conventional, FHA and VA loan rates available making the perfect storm for first time home buyers. The National Association of Realtors Survey of Home Buyers and Sellers in 2008 has provided this great information: 41% of home purchases were made up of first time home buyers 75% of first time home buyers lived in an apartment or rented a home/condo before purchasing 19% … (3 comments)
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The Hard Numbers- The Harsh Reality of Renting
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