Buying a first home is often fraught with uncertainty and stress. The home buying process may be made easier and less stressful with a few tips from the first time buyer.
1. Don’t Stretch Your Budget: Figure out how much you are able to comfortably afford before looking for a home. A $1000 a month rent payment does not mean that you are able to afford the same mortgage payment. Owning a home has increased costs over a home. Taxes, insurance and unforeseen maintenance costs … (2 comments)
Mortgage Rates Fall to Record Lows By Les Christie @CNNMoney December 15, 2011
NEW YORK (CNNMoney) -- Mortgage rates sunk to record lows again this week. The average rate on the 30-year fixed mortgage fell to 3.94%, matching the all-time low hit in early October, according to Freddie Mac's weekly mortgage rate survey. Meanwhile, 15-year fixed-rate loans hit a new record low of 3.21%, surpassing the record set on October 6. Five-year adjustable rate mortgages also plumbed new depths, hitting 2.86% for the … (1 comments)
home sellers: Residential Housing Ready to Awaken?
- 12/14/11 07:00 AM
CNBC – Fri, Dec 9, 2011 After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound. In some metropolitan areas, the market has bottomed, with both sales and prices on the rise and foreclosures on the decline. This contrarian - and largely overlooked - thesis flies in the face of the persistent gloom that has nagged the industry since 2007, when the subprime crisis flared. Industry analysts and players cite a number of reasons - some traditional (employment), others unique to the post-credit bubble era (foreclosures) Â - … (0 comments)
home sellers: October Existing-Home Sales Rise
- 11/21/11 07:28 AM
Source: NAR Existing-home sales improved in October while the number of homes on the market continued to decline, according to the National Association of REALTORS®. Total existing-home sales — completed transactions that include single-family, townhomes, condominiums and co-ops — rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010. Room for Improvement Lawrence Yun, NAR chief economist, said the market has been fairly steady but at a lower than desired level. “Home sales have been stuck in … (0 comments)
home sellers: Mortgage Rates Below 4% for Second Time
- 11/10/11 09:27 AM
WSJ- Amy Hock For the second time in history—and the second time in as many months—average rates on 30-year fixed-rate mortgages fell below 4%. WSJ- Amy Hock After falling to an average 3.94% on a 30-year fixed mortgage in the week ending Oct. 6, rates had ticked back up over the past month. Now, amid mixed signals about the health of the U.S. economy, rates on the 30-year mortgage fell to average 3.99% for the week ending Nov. 10, down from 4% last week and 4.17% a year ago, according to Freddie Mac's latest survey of conforming mortgage rates. "The economy … (2 comments)
Late last year, banks were warned that they needed to guarantee that the paperwork necessary to start a foreclosure process on a family was both accurate and complete. Since then, the banks have slowed down the foreclosure process while they re-examined their procedures. They are now confident that all the required documentation is in order. We are currently waiting on a settlement between the banks and the state attorneys general which will establish what penalties will be assessed. Once this settlement is reached, the banks will again move forward on many homes … (0 comments)
Pending Home Sales Decline in August but Remain Above a Year Ago Pending home sales slipped in August with a mixed regional performance but are higher than a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but … (0 comments)
home sellers: August Existing-Home Sales Leap Despite Headwinds
- 09/21/11 07:01 AM
What's happening in the real estate market? What do numbers indicate? Existing-home sales increased in August, even with ongoing tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, according to the NATIONAL ASSOCIATION OF REALTORS®. Monthly gains were seen in all regions. Total existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 7.7 percent to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67 million in July, and are 18.6 percent higher than the 4.24 million unit level in August 2010. Lawrence Yun, NAR chief economist, … (0 comments)
home sellers: Windows of Opportunity Beginning to Close for Sellers
- 09/19/11 06:51 AM
Thinking of selling your home? There's a window of opportunity to sell your home at a higher price... We have suggested that sellers who need to sell within the next 18 months had a ‘window of opportunity’ to sell at higher prices. They needed to put their houses up for sale immediately before a flood of distressed properties were introduced to the market. This window is beginning to close. The paperwork challenges faced by banks that caused a delay in the foreclosure process over the last ten months are starting to clear. It seems that these houses are now coming to … (1 comments)
Pending home sales declined in July but remain well above year-ago levels, according to the National Association of Realtors®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, slipped 1.3 percent to 89.7 in July from 90.9 in June but is 14.4 percent above the 78.4 index in July 2010. The data reflects contracts but not closings.
Lawrence … (0 comments)
home sellers: 5 Predictions For 2011
- 12/14/10 06:27 AM
Daily Real Estate News | December 10, 2010 | 5 Predictions for 2011 Freddie Mac analysts point to five features that they believe will likely characterize the 2011 housing and mortgage markets:1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or all) of 2011, relatively low mortgage rates will be a feature of the 2011 mortgage market. Thirty-year fixed-rate loans are likely to remain below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages will likely remain below 4 … (1 comments)
home sellers: OPEN HOUSE
- 10/07/10 06:42 AM
JOIN ME AT MY OPEN HOUSE THIS SATURDAY OCTOBER 9TH FROM 1:00 - 4:00PM. 312 NUTWOOD STREET, BREA CLICK THE LINK BELOW FOR PHOTOS... http://www.realestateshows.com/show.php?mls=basic&id=527724
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home sellers: CAPITAL GAIN TAX TO INCREASE?
- 08/04/10 09:58 AM
Click the link below to view this article... Capital Gain Taxes Increasing 58%; Latest Audit and Tax Info Contact me for questions regarding this information. … (1 comments)
home sellers: Brand New Custom Home!
- 08/03/10 07:25 AM
Brand new custom home in Fullerton completed in 2010! This gorgeous home features 4 bedrooms and 3 bathrooms with full of upgrades. You will first notice the beautiful travertine flooring in the entry way as it opens up to warm formal living area w/ beautiful espresso hard wood flooring & cozy fireplace. First level has one bedroom with the kitchen with stainless steel appliances, Marinace granite, and dark cabinets. Step oustide to the deck from your family area. Enjoy the serene forest like surroundings in the backyard. Upstairs, the master suite has hard wood flooring with huge master bath, Jacuzzi tub, … (0 comments)
Six Tips For First Time Home Buyer;)
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