buy a home: Renting VS Buying - A Cost Analysis - 11/17/19 06:38 AM
  
Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear. Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year.  by Keeping Current Matters

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buy a home: SNOOZE AND LOSE? - 06/27/15 10:45 PM
The longer you wait to buy a home, the more it can cost you. Here’s what potential buyers should know about acting now to get in the market
 
 
Many a fisherman has a story about the big one that got away. But years from now many a would-be homeowner could have a tale about the dream home that got away because they didn’t reel in the big catch in time, say the experts.
A recent report published by Realtor.com indicates that the financial consequences of postponing or passing on a home purchase in the current market could prove to be quite costly. The report suggests … (4 comments)

buy a home: Real Estate: Best Long-Term Investment - 03/01/15 10:03 PM
  Real estate continues to top the list of best long-term investments, according to a Gallup Economy and Personal Finances Poll. Americans prefer investing in real estate (30 percent) when compared to gold (24 percent), stocks/mutual funds (24 percent), savings accounts/CDs (14), and bonds (6 percent).
Only in 2011 (when the housing market was down and when gold was at its highest market price) did Americans choose gold over real estate. With the housing market continuing to improve and home prices rising, real estate is back on top.
The polling data also reveals the top two responses by age group:
18-29
Real … (1 comments)

buy a home: Risks When Buying a Short-Sale Home - 08/02/14 03:52 AM
If you are looking to buy a home at a significant reduction in price, you might have heard about pursuing a short sale. A short sale can occur when a homeowner can no longer pay the mortgage and wants to sell the property for less than the amount currently owed on the loan. This tactic has the potential to save you money, but it also has its risks. Here are few you should look out for:
 
Time - The short-sale process generally takes longer than the regular closing process. The seller's mortgage lender needs to approve the sale, which typically … (0 comments)

buy a home: How to buy a home at half the market price - 12/15/13 07:56 PM
If rising prices have you thinking twice about buying a home, here are some ways to purchase a home for half the price. Think deals on real estate are gone due to rising home prices? Think again.

"A savvy buyer with the proper funds, patience, and the right guidance can certainly find opportunities to buy a home for half price," says Warren Johnson, a real estate agent with RE/MAX Property Center in Paramus, New Jersey.
Qualifying for government programs, shopping for rock-bottom foreclosures, and renovating extreme fixer-uppers are some of the ways you can get a great deal on a … (0 comments)

buy a home: Buy a home before 2014 - 12/15/13 07:19 PM
The year 2014 will be a type of test market for the mortgage industry, with the Federal Reserve expected to eventually taper its mortgage securities purchases. 
New rules, rising rates could mean fewer options
Not to mention the fact that 2014 is forecasted to bring a rise in rates and new lending rules that are likely to reshape the process of acquiring a mortgage.
With all of that in mind, HomeFinder.com is advising consumers to consider buying homes before the end of this year.
The site goes as far as naming the top five reasons for buying real estate before the dawn of 2014.
Among them … (0 comments)

buy a home: Ways to buy a home without cash - 10/28/13 08:19 PM
Rachel Wolfinbarger knows it's just a myth that you need a 20% down payment to buy a home today. How does she know? Because the California blogger bought a $255,000 Rancho Cucamonga home last year, and she put down just 3.5% to get a mortgage backed by the Federal Housing Administration.
Even sweeter, her house has substantially appreciated in the hot Southern California housing market. Said Wolfinbarger: "I couldn't think of a better scenario--having over 20% worth of equity within about a year when we only put down about 3%."
She's not alone. Buyers in the tens of thousands are discovering … (3 comments)

buy a home: 5 Things Homebuyers Should Know, but Don't - 10/14/13 07:52 PM
  A house is the biggest asset that the majority of Americans will ever own. But while most of us delude ourselves into thinking that we actually know something about real estate, the truth is that few of us have any idea what we're talking about.
  
It's for this reason that I solicited the advice of several highly respected real estate professionals to help our readers navigate the process of both buying and selling their homes. What follows, in turn, are five things that most homebuyers should know, but don't.
 
1. When you buy a home, you're making two … (0 comments)

buy a home: How Fast Can You Buy a Home? - 08/02/13 09:59 PM
 
In hot markets across the country, homes are selling fast. And that means if you hope to buy a home, you have to be prepared to move quickly.
"I've seen all cash offers close in three days," says Realtor.com's Consumer Housing Specialist Leslie Piper. "And I've seen loans get approved and close within 21-25 days."
Forty-seven percent of all homes sold in June 2013 were on the market for less than a month, according to the National Association of Realtors. It also reports that the median time on market for all homes was 37 days in June. Short sales were … (0 comments)

buy a home: Time to Reality Check the Real Estate Market - 03/04/13 05:42 AM
Rarely does a day go by that I don’t get asked if this is a good time to buy and/or sell a home. Some people might think that my response is always an emphatic “YES!” because I work in real estate. But in truth, there is no right or wrong answer. Every person’s circumstances are unique, so in some cases the answer might be yes, but for others it might make more sense to wait. Allow me to explain.
The good news is that we’re finally coming out of the housing slump of the past five-plus years. Housing is a major … (0 comments)

buy a home: 3 things to avoid when buying or selling - 12/23/12 09:59 PM
 
Advice on what to do and how to do it is everywhere these days. Whether you want to know what to eat, how much money to save or how to learn a new language, it seems that the answers are a mere Google away.
 
And that has created its own set of problems, chief among them the issue of information overload. Sorting through the overwhelming inundation of information about how to proceed with any major life endeavor -- including real estate matters like buying, selling or refinancing a home -- has become a sort of pre-action step.
 
Often, … (1 comments)

buy a home: Rental Costs Are About to Takeoff Reasons NOW Is a Great Time to Buy - 05/06/11 12:20 AM
We are often asked whether it is better to rent or buy in the current housing market. The answer to that question is: "It all depends." There are certain situations where renting short term probably makes sense. It may make sense if you are retiring to a different region of the country and are not yet sure where you want to set down roots for the next 25 years. It may make sense if you have a one-year employment contract that will probably require a move to another place upon termination. However, in most other cases, renting right now makes little … (4 comments)

 
Christopher Pataki, Hockessin Delaware Real Estate (RE/MAX Associates) Rainmaker large

Christopher Pataki

Hockessin Delaware Real Estate

Hockessin, DE

More about me…

RE/MAX Associates

Address: 56 West Main Street, Suite 101, Christiana, DE, 19702

Mobile: 302-562-0628

Office: 302-738-2300

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