home buyer: Are We Being Set Up For The Next Mortgage Crisis?
- 08/17/22 09:20 AM
Over the last few years, home prices steadily climbed. Combining these price increases with the nearly doubling of mortgage rates has taken its toll on the mortgage business. Buying a home became much harder for the average American and mortgage applications were way down. Lenders did not take this sitting down, instead they went head on in to making loans less difficult to obtain. Mortgage Rates Went Off
Residential mortgage rates were about 3% at the beginning of the year. Over the next several months, rates had closed in on 6%. This cost increase was insurmountable to many who had only seen rates … (2 comments)
home buyer: When You Think Rates Can't Go Any Lower - They Can
- 07/15/20 07:06 AM
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this mean for buyers? This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac: “The summer is heating up as record low mortgage rates continue to spur homebuyer demand.” In … (0 comments)
home buyer: Home Price Forecasts Over the Next 12 Months
- 07/14/20 07:44 AM
Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which would be the first decrease in annual home prices in over 9 years.” The forecast was surprising as it was strikingly different than any other projection by major analysts. Six of the other eight forecasts call for appreciation, and the two who project depreciation indicate it will be one … (0 comments)
home buyer: What Buyers Want in 2020
- 05/16/20 02:19 PM
Some Highlights In a recent study by realtor.com, homeowners noted some of the main things they would change about their homes to make them more livable. Not surprisingly, more space, an updated kitchen, and a home gym rose to the top of the list. If you’re thinking of selling this year, having these items in your listing might make your house more desirable than ever to potential buyers. … (4 comments)
home buyer: The positive effects of pets
- 10/05/17 06:31 AM
Did you know that having a pet around can actually be beneficial to your physical and mental health? Here are a few ways in which your furry friend is improving your life. Companionship - The most obvious benefit to owning a pet is the consistent companionship they provide. Pets help reduce loneliness. In fact, the social support provided by therapy animals eases the symptoms of a variety of mental issues. Reducing stress - Studies have shown that interacting with a friendly animal can lower the amount of stress-related hormones in your blood stream, thus causing you to relax. Pets have also been credited with reducing … (5 comments)
home buyer: There Are Tax Benefits With Home Ownership
- 01/04/16 08:06 PM
Homeownership has always been the "great American dream".To foster and encourage this dream, Congress has consistently enacted tax legislation which favors homeowners. Indeed, much has been written that our tax laws discriminate against renters, by giving unfair and unequal tax benefits to those who own homes. Every four years, some candidate for high political office tries to focus our attention on equalizing the tax laws, and repealing the homeowner benefits, but these arguments have consistently fallen on deaf ears. And this coming election year is no different.
For those of us who own homes, here is … (1 comments)
home buyer: Timing Options for Buying and Selling
- 06/01/14 10:22 PM
You have options when it comes to timing the sale and purchase of a home. The most common source of confusion is what people should do first - sell their current home or buy a new one. If you do some homework first, you'll probably get a good idea of what you are most comfortable with. Contact me and we'll determine what price you are likely to get for your house. Meet with mortgage lenders and find out what size loan you will qualify for and decide how much you can afford. Look for homes that meet your needs and your … (0 comments)
Spring is whispering around the corner and who can help but turn their thoughts to spending more time outdoors? Whether you are a home seller or buyer, the outside of your home is the first impression anyone gets when arriving at the front door. From your walkways and landscaping to architectural elements on your home, curb appeal is essential. When selling your home, most homebuyers make up their minds about your home before they even see the inside. Ensure you make the right impression with curb appeal that is welcoming and shows that your house is just as impressive … (0 comments)
home buyer: New Medicare tax creates incentive for home sales
- 12/18/12 01:20 AM
The Patient Protection And Affordable Care Act ("Obamacare") will affect everyone in the United States one way or another. But some people will be affected more than others. Among these are high-income taxpayers. Starting in 2013, they will be subject to a brand new Medicare tax on their "unearned income."
Who is subject to the tax?
Starting in 2013, a 3.8 percent Medicare contributions tax will be imposed on the lesser of (1) the taxpayer's net investment income, or (2) any excess of modified adjusted gross income (MAGI) over $200,000 ($250,000 for married taxpayers filing jointly). Thus, all single … (0 comments)
home buyer: IRS's top 10 tax tips for home sellers
- 08/18/11 01:38 AM
From time to time the IRS releases tips designed to help people with their taxes. Some of these are quite useful. Last week the agency released "Ten Tax Tips for Individuals Selling Their Home," (IRS Summertime Tax Tip 2011-15). As a real estate agent or broker, it is not your job to give home sellers tax advice. Indeed, it is advisable not to, since you could end up getting sued if you give wrong advice. Instead, refer sellers to this list of IRS tips. It's a good starting place for them to begin to understand this often complex area of tax … (2 comments)
home buyer: Bad Credit Home Loans – First Time Homebuyers Guide
- 12/29/10 11:13 PM
Having bad credit can really hurt a first time homebuyer when it comes to getting a loan. Paying a mortgage is a huge step when compared to normal consumer debt. This is the reason borrowers record of paying back loans comes under intense scrutiny when they are attempting to get a first time homebuyers loan. Having bad credit can leave the borrower’s efforts dead in the water. Finding Bad Credit Home Loans for a first time homebuyer starts before someone begins to look for a home. If a first time homebuyer is thinking about a Bad Credit Home Loan then they … (1 comments)
home buyer: First Time Home Buyers Guide To Obtaining A Mortgage
- 12/20/10 08:59 AM
Home buyers hear it all the time: the mortgage industry isn’t what is used to be. For all intents and purposes, this is true. In fact, if you want to obtain a home loan, you must be financially prepared, which means putting your proverbial monetary ducks in order. First-time buyers may be shocked to hear that mortgage lenders are now turning down individuals for home loans who would have easily snagged a home loan – and a competitive interest rate – just a few years ago. However, as we are all too aware, the home loan industry, has gone through major … (0 comments)
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