buying: Barbara's Blog - Using Reverse Mortgage to Purchase
- 07/27/15 04:02 AM
Reverse mortgages were developed to help seniors aged 62 and above as a way for them to stay in their homes and use the funds to supplement their income. But some seniors want to downsize or trade a two-story home for a single-level dwelling. The US Department of Housing and Urban Development (HUD) has a program seniors like these called FHA Reverse Mortgage to Purchase program also known as a Home Equity Conversion Mortgage (HECM) to purchase program. The Home Equity Conversion Mortgage (HECM) for Purchase was created by Congress four years ago to streamline home-buying transactions and cut costs, says Peter … (1 comments)
buying: Barbara's Blog - Good Credit Is Just As Important After You Buy A Home
- 03/24/15 03:20 AM
Ok, so you worked hard and kept a tight grip on your credit so you could close on your dream house. Now that you have, you feel you can loosen that hold some. You got your major purchase so you can let some things slide so you can use that money to redecorate right? Wrong! There are other ways letting your credit slip can impact you.
It may be too early to think about REFINANCING think about it, you’ve purchased your home at a decent rate but after you’ve been in your home for a few months, you see … (0 comments)
buying: Barbara's Blog - 8 Ways To Save Money On Your Move
- 10/19/14 10:55 PM
Moving isn’t easy by no means. It is time consuming, stressful and can be very expensive. There are a few ways to make moving less painful (not pain-free, just less painful). Here are 8 ways that can help. 1. Don't take it all with you Any furniture or appliances you will no longer want or need can be included in the sale of your home. Doing this can save you time and money. Your buyer may be moving from out of state or buying their first home and may appreciate the items left behind.
For most people, the American dream is not just owning a home, but owning a huge stylish house with all of the most current upgrades and renovations. We’ve all watched TV shows where the houses were outrageously large and beautiful and wished we had a house like that. But not all of can financially afford a house like that. According to the architecture and design magazine, Freshome, there is a trend toward buying and building smaller houses. "It's a fact, houses are getting smaller, said Freshome. “It seems there is a new world-view developing - people are shunning the … (2 comments)
The National Association of Realtors estimates that due to the tighter lending requirements, home sales have been held back about 15% recently. This has been frustrating for both home buyers and sellers. Even some lenders with higher credit scores are finding it difficult to qualify for loans. Some are finding it hard to meet the down payment requirements as well as paying the private mortgage insurance for some government backed loans. Owner financing has become more intriguing to more potential home buyers and sellers. If both parties adhere to state regulations, use reputable sources to work through the transaction … (0 comments)
buying: Barbara's Blog - 4 Things Most Buyers Forget During The Final Home Walk Through
- 09/15/14 01:17 AM
The final walk through is not an official inspection, it’s a change to go through the house to make sure everything is as it should be. It can be done a few days before the closing or just hours before. Many home owners are so excited about buying a home they don’t really go through the house. But even though it is a small step in the closing process, it is a vital part of the process, you have to stay focused and take note of everything especially things on your final checklist. Some things you shouldn’t forget in this crucial … (5 comments)
According to a recent survey by The National Association of Home Builders, size does matter. It appears that home buyers are looking for homes as close to 2,000 square feet as possible. The problem is that nearly half the homes on the United States are less than that. The NAHB says that only about one-third of the homes on the market in 2014 were approximately 2,000 square feet or more. NAHB states on its website, "Existing homes, on the other hand, are more likely to be under 1,600 - or even under 1,200 - square feet, a size relatively … (0 comments)
When talking about buying a house, have you ever said:
"I'll know when I see the right place." "I want to see what I can find on my own." "I'll only buy if I can get a fantastic deal." "I'm waiting for interest rates to go down."
If you have then you are not ready to buy a house.
There are all types of houses for sale in more areas than we can count so it should be easy to ‘find the right place’ especially with your real estate agent doing the preliminary search for you. … (0 comments)
Yes, it’s possible to sell your home without a real estate agent saving money on commission fees. But if you do, it’s a good idea to make sure you know what you’re getting into. Education yourself on the real estate process, learn the pros and cons of selling without an agent, is selling without an agent good for your situation? Do you know where to get help if you run into issues selling on your own? And most importantly, do you know the local market well enough to know whether your are selling your home for less than it’s … (2 comments)
buying: Barbara's Blog - Buying an REO Property
- 08/13/14 06:02 AM
An REO (Real Estate Owned) simply means that the foreclosure process on a particular house has gotten to the point where the bank has taken back ownership of a house from the owner. The bank can then put the house up for sale through an agent or put it up for auction. There are a couple of advantages to buying REOs. One is that you don’t have to pay cash or be cash ready like you would at a foreclosure auction. REOs that are listed with a real estate agent, you can purchase the home with a traditional mortgage just like … (1 comments)
buying: Barbara's Blog - How to Sell Your Home Without Dropping Your Price
- 08/08/14 01:03 AM
The first two weeks after you put your home on the market are critical, that’s typically when you catch the eye of real estate agents and some eager buyers. If you're really ready to sell your home, the best thing for you to do is to price it right at the time it goes on the market and then sell as close to the original asking price as possible. Price your home at current fair market value which means the price of your home is equal to or very close in price to homes in the area that are similar … (1 comments)
buying: Barbara's Blog - 10 Tips for Buying a Home
- 07/30/14 03:32 AM
10: Keep Your Money Where It Is It’s not a good idea to make big purchases or even open new credit accounts three to six months prior to buying a new house. Any action that can change your credit profile can affect your future mortgage rate. Lenders want to see that you make reliable and responsible financial choices. NOTE: there are exceptions to every rule, if you have low or no credit prior to buying a house, a lender may suggest you get some sort of credit and make payments on time for six or more months to build your credit history. … (0 comments)
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