home buying: Breaking/Good News for Housing Industry
- 10/22/14 06:08 AM
Two monumental decisions in U.S. housing regulations this week are major victories for homebuyers – and the housing industry at large.
For starters, the final qualified residential mortgage, or QRM, rule eliminates the highly controversial requirement of a specific down payment amount, bringing the rule in line with the Consumer Financial Protection Bureau’s qualified mortgage, or QM, rule. The latter was created to protect borrowers from predatory lending practices.
Another victory for housing: Fannie Mae and Freddie Mac are releasing new guidelines that will allow borrowers with lackluster credit profiles to obtain loans with a down payment as low as 3 percent by considering “compensating factors.” Federal … (1 comments)
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home buying: Thinking of Buying in Today's Market - Pros and Cons
- 07/26/14 11:25 PM
Home ownership is part of the American Dream, and the pride of owning your own home is surely one of the intangible benefits you’ll receive when you make this big commitment. In addition, home ownership provides several other advantages, including:
Tax breaks
When you own a home, you can take several deductions on your income tax. These deductions vary depending on your situation, but often you can write off all or part of the mortgage interest, real estate taxes paid, costs associated when you buy the home (such as interest points paid), and possibly other costs. If … (1 comments)
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home buying: Reason 11 - Why You Should Own a Home
- 07/12/14 11:19 PM
Have you been told by your landlord "No Pets Allowed!"? Owning a home gives you much more freedom of having pets. Whether it be cats, dogs, fish or any other type of pet studies show the following benefits from pet companionship:
§ Pet owners are less likely to suffer from depression than those without pets.
§ People with pets have lower blood pressure in stressful situations than those without pets.
§ Playing with a pet can elevate levels of serotonin and dopamine, which calm and relax.
§ Pet owners have lower triglyceride and cholesterol levels (indicators of heart disease) than … (0 comments)
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home buying: New Castle Renovation - Coming Soon
- 04/22/14 06:21 AM
Beautiful New Castle Renovation
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home buying: Happy New Year - 2014 Homebuyer's Checklist
- 12/22/13 07:52 PM
The home buying process can be bewildering and stressful. We get it. And we’re here for you every step of the way. This homebuyer’s checklist breaks down the process and points you the tips and tools you need to find your next place:
1. Figure out your finances.
o Check your credit report. You don’t want your credit score to hold you back once you’ve found your dream home, so make sure it’s in good standing ahead of time.
o Figure out how much you would like to spend. Think through your family’s priorities, your investment strategy, and your monthly … (0 comments)
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home buying: Don't Miss This Beautiful Brick Ranch in Wilmington
- 11/19/13 12:52 AM
Beautiful Wilmington Ranch
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home buying: Luxury Home Trends
- 10/31/13 08:56 PM
The philosophy of "bigger is better" seems to be phasing out. Today's discriminating homeowner is looking for amenities that are tailored to his or her lifestyle and hobbies. What does this new buyer want? They still want a lot, just less of it:
Automation. Buyers want to control more of their homes automatically, from lights to heating/cooling systems to security. Casual décor. Formal dining rooms and living rooms are being replaced by more comfortable spaces. Distinctive styling. Today's buyers spend more money on and more time with their architects to create a home that reflects their personal style. Easy maintenance. Buyers are looking for easy-care … (0 comments)
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home buying: Buyers Should Forget About Mortgage Rates, Focus on Rising Prices
- 03/16/13 11:11 PM
Yesterday, Freddie Mac reported that the average interest rate for a 30-year fixed-rate mortgage (FRM) rose again to 3.63%. That’s an increase of +0.11% over last week and +0.29% since the start of this year.
So far, the predictions of Frank Nothaft, Freddie Mac’s chief economist, appear to be coming true. He previously predicted a gradual but steady rise in mortgage rates during 2013, perhaps reaching or exceeding 3.75% by year’s end.
Real estate agents and mortgage companies use these trends to motivate home buyers. They point to rising mortgage rates and say that now is the time to buy a … (1 comments)
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home buying: Navigating the Home Buying Process in a Competitive Market
- 03/12/13 09:37 AM
Whether you are buying a home for the first time or the tenth time, you probably have a long list of “must haves” and “wants” for your dream home. With recent real estate forecasts announcing a housing market recovery in 2013, many pockets and niches throughout the nation are already experiencing a competitive market with low inventory of homes and bidding wars. Finding a home that has everything on your checklist can be a challenge, particularly if you are searching in a competitive market. There are, however, some tips that can help you navigate the home buying … (0 comments)
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home buying: Home Buying | The Top 5 Things Today’s Buyers Want
- 03/12/13 01:57 AM
If you have ever watched a show about selling or flipping homes, then you know that there are many improvements you can make that can add nearly-limitless value to your home. However, ALL upgrades aren’t good upgrades. Some improvements can add thousands of dollars to the value of your home when you go to sell, while, unfortunately, some additions can actually turn buyers off. Since the recession, people’s buying habits have really changed. Studies have shown that buyers are much more price-conscious. As a result, they don’t want to feel like sellers are nickeling and diming them to death … (0 comments)
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home buying: The 7 Top Home-Buying Mistakes You Should Avoid
- 03/07/13 11:56 PM
Insanely low mortgage interest rates—and the knowledge that they’ll eventually go up again—make a lot of people feel like it’s time to buy a house right now. And maybe it is … if you go about it the right way.
Buying a home is a major purchase (to put it mildly), and there are plenty of ways to trip up. But don’t worry—we’ve got your primer right here.
1. Don’t … buy a house if you’re planning to move again soon.
If you’re a renter, it can be frustrating to write that rent check every month and have … (0 comments)
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home buying: Mortgage Tips for First-Time Home Buyers
- 03/06/13 08:15 PM
First-time home buyers are entering into an exciting contract.
Your first home is a significant financial commitment, with your mortgage playing a huge part. For example, you can get a traditional mortgage or you may qualify for a loan backed by the Veterans Administration or the Federal Housing Administration. Since you'll be paying on your mortgage for around 20 to 30 years to come, you'll want to know as much as possible about your options.
Budgeting You must prepare an accurate budget so you know how much you can afford to spend on your monthly mortgage payment. … (1 comments)
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home buying: Ten Tips (in 5 days) for First Time Home Buyers - Day 3
- 11/07/10 12:47 AM
5. Be patient – resist the urge to get angry and break things around you The home buying process can be time consuming and complicated. If something can go wrong, it will. But, if you are mentally prepared for it, then you will not be surprised when delays happen. Budget at least 3 to 6 months for the process, especially keeping in mind the timing of when you absolutely need to move into the new home.Do not get frustrated if you do not feel fully in control of the process. Remember, that you are going to be at the mercy of … (1 comments)
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home buying: Habitat Turns Crisis to Advantage by Rehabbing Foreclosures
- 08/22/10 01:43 AM
Faced with the realities of the foreclosure crisis, nonprofit homebuilder Habitat for Humanity is adding a piece of equipment in its tool chest: a sledgehammer. After decades of rallying volunteers to build new houses for low-income families, the international nonprofit’s Orlando chapter has started using federal funds to purchase and rehab older houses vacated by owners who could not pay their mortgages.
“Unfortunately, this is part of the foreclosure crisis,” said Dee Danmeyer, executive director of Orlando Habitat for Humanity. “We’re trying to do something good with what’s happened here. … This is definitely new for Central Florida.”
Bruce Stephens … (2 comments)
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home buying: If These Walls Could Talk – How Do Home Inspections Provide Buyers Protection through Home-Buying Process?
- 06/28/10 01:46 PM
As we continue to see record numbers of foreclosures across the country, Dan Steward, president, Pillar To Post, is making it his priority to educate the public about the proliferation of homes used as drug labs (specifically, meth) entering the residential real estate market. “As foreclosure numbers continue to mount, we at Pillar To Post feel it is our responsibility to help consumers be aware of what they could be getting themselves into when buying a home,” says Steward.
Home inspections have become more important with the rising number of foreclosures. “Not only do inspectors need to carefully examine the systems … (0 comments)
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home buying: 5 Reasons Vacant Homes are Tough to Sell in Today’s Market
- 04/12/10 01:08 AM
A vacant house is like a vacant stare. Something is just not right.
Trying to sell a vacant house adds obstacles and depresses the sales price, says Showhomes, a nationally franchised home staging company. Showhomes uses live-in home stagers to lower the cost of staging and produce faster home sales. Take a look at their top five reasons why selling a vacant house is often a mistake in today’s market:
1. People don’t simply buy houses; they buy the next chapter of their lives. This is an emotional experience and emotion influences what people buy and how much they will pay. … (2 comments)
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home buying: Nab a real estate deal - while you still can
- 03/17/10 01:04 AM
If you've been holding off on a real estate purchase, glimmers of a turnaround in the housing market may have you wondering if it's finally time to make your move.
While home prices remain low, they're no longer free-falling in most markets. Mortgages are historically cheap. And the sweet tax credit that was offered to new buyers last year has been extended to April 30 and expanded to include current homeowners too.
But for all the motivation to act quickly, buying right now is not a no-brainer. In some areas home prices may fall further. If you own a house now, … (2 comments)
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home buying: Obama's Plan to Stem Foreclosures Will Do More Harm Than Good
- 02/28/10 03:08 AM
The Obama administration is mulling a plan that would require lenders to make efforts to enroll homeowners in the government's Home Affordable Modification Program (HAMP) before they pursue foreclosure. According to a memo reviewed by Bloomberg, the proposal "prohibits referral to foreclosure until borrower is evaluated and found ineligible for HAMP or reasonable contact efforts have failed."
If the program is implemented, banks would be unable to initiate foreclosure proceedings until they have tried to contact borrowers about HAMP at least four times by phone and at least twice by certified mail. "Conceptually it is a good idea. Procedurally, it might … (1 comments)
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home buying: Delaware Isn't Really Flat
- 02/20/10 12:51 AM
An article from JIM SUBACH
http://www.DelawareOnline.com/apps/pbcs.dll/article?AID=/201002180345/LIFE04/2180328
FREE List of Foreclosures
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home buying: Delaware Isn't Really Flat
- 02/20/10 12:51 AM
An article from JIM SUBACH
http://www.DelawareOnline.com/apps/pbcs.dll/article?AID=/201002180345/LIFE04/2180328
… (0 comments)
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