buyer tips: Difficulties That Prevent You from Finding a Home
- 10/05/12 05:30 AM
Looking for a home can be a frustrating process. You’ll look at many that have potential, but in the end you’ll find one that meets most of your original wants. Sounds a bit like dating, doesn’t it?
Regardless, some buyers are often discouraged with how long the process can take. They may not realize that their unrealistic expectations are keeping them from the home they’ll love. Below are some common misconceptions that people make when looking for a home.
Some buyers have a hard time seeing beyond the current condition of the home. It may not be a pretty sight, but … (0 comments)
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buyer tips: What is Your Credit Score?
- 09/12/12 05:37 AM
Your credit score is a number that has a lot of impact on your life. It’s used by multiple lenders to decide if they’ll qualify you for a car, home, or business loan, or allow you a lower interest payment. Even if you aren’t looking for a loan to purchase these things, your credit score can even be used to decide if you meet the qualifications to lease a car or a home. It’s a number that reflects your borrowing and payment history, and there are several factors that contribute to it. So what is your credit score?
Credit scores can … (0 comments)
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buyer tips: Need-To-Know for New Home Buyers
- 07/26/12 08:32 AM
Arizona has always had a strong market for new homes, and after the recession, new home sales are finally starting to rise. Many people desire homes customized just for them, and new homes provide a great opportunity for this. However, there may be some pitfalls during the building process.
While many homes are built correctly, there will be the occasional homes that are not. Unhappy buyers that are tempted to go straight to a lawsuit for the construction defects may be shocked to find their claim dismissed because they missed some important steps.
Firstly, any claim for a construction defect … (13 comments)
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buyer tips: Phoenix Metro Area Buyers Frustrated With Competitive Housing Market
- 03/16/12 01:43 AM
The potential home buyers who were waiting out the housing boom are ready to make their home ownership dreams come true – only to find that they cannot buy. Even home buyers who are pre-qualified with a preapproved home loan and enough money for a down payment are at a loss. These “traditional” home buyers are being successfully outbid on the Valley’s fewer of bank-owned homes and short sale homes by investors who are willing and able to pay cash for the home.
“Traditional” home buyers who need to finance the purchase of a home make their offers contingent on an appraisal by their lender as well as on their ability to secure their loan for … (0 comments)
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buyer tips: Things to Avoid When Buying a Foreclosure
- 04/27/11 08:25 AM
With the housing market still down, many buyers and investors are jumping on the chance to get some of the best deals in real estate. Foreclosures can be among the best deals, but there are some very important things to remember before buying a foreclosure.
Home Inspections Are A Necessity. Professional home inspections are one of the most important things to remember about home buying. Even though the home may look nice at a first glance, a home inspection can inform buyers about possible underlying issues, like toxic mold or structural issues. The information from the home inspection report will be … (1 comments)
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buyer tips: Home Inspections A Necessity For All Buyers
- 04/09/11 07:58 AM
A home inspection can be the breaking point in a sale. Both buyers and sellers recognize the necessity of having a home inspection, but both have fears over the outcome. In today’s market, a home inspection is one of the leading decision-makers about whether to try to further discount the sale or not.
Buyers tend to fear that the house will have pre-existing problems that are going to be expensive to fix. They want the seller to pay for all of the necessary repairs, or potentially discount the price to cover the cost of repairing the home themselves. Therefore, there is a dependency on the accuracy and the integrety of a home … (2 comments)
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buyer tips: You've Got 15 More Days To Use The First-Time Home Buyer Tax Credit
- 10/05/09 12:00 PM
The government's First-Time Home Buyer Tax Credit program expires November 30, 2009 - a scant 60 days from today.
Considering it can take up to 60 days to close on a home.....
To read the full article, please visit: http://www.brokeragentsocial.com/BobPhillips/blog/3172/
… (0 comments)
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buyer tips: 7 Valuable Tips For First-Time Home Buyers
- 09/21/09 07:58 AM
The housing market has taken a drastic turn since the foreclosure crisis in 2008. Here are seven pieces of wisdom from economists and financial planners for anyone considering a home purchase today:
The smartest way to purchase a home is to put 20 percent down on a fixed-rate, 30-year (or less) mortgage. Do not depend on income growth. Even though buyers in their 20s and 30s will likely see their incomes increase more quickly than previous generations, it is important to always act sensibly when borrowing. Any family that is considering adding children to their family should calculate whether they could live on one … (0 comments)
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buyer tips: Tax Credit Changes
- 09/21/09 07:48 AM
The first major change to the $8,000 home buyers tax credit began moving through Congress last week, giving hope to first time buyers of an extension of the program before it expires Nov. 30.
House Ways and Means Committee chairman, Congressman Charles Rangel, a New York Democrat, combined several smaller bills into the "Service Members Home Ownership Act of 2009" late last week, with a floor vote expected this week.
The bill is intended to correct a flaw in the original tax credit legislation: By requiring buyers to occupy and own their first home for 36 months to fully qualify … (0 comments)
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buyer tips: Parkwood Ranch Home In Mesa, AZ For Sale
- 06/15/09 11:10 AM
Wonderful Starter Home! Features Split Floor Plan, Large Rooms, Decor Paint, Upgraded Lighting, Beautiful Eat-In Kitchen Features Granite Counters, Mahogany Stained Cabinets, Tile Floors, Huge Master Tub & Master Bay Window. Excellent Corner Lot Features Large Private Lot With North/South Exposure & Within Walking Distance To Parks. Sellers Loss Is Your Gain!
Call Gina McKinley, ABR, CRS, CDPE, Associate Broker at 480-355-8645 in order to schedule an appointment to view this home.
For more pictures and a property brochure, please visit our web page at http://www.LocateArizonaHomes.com/10358Dolphin.
… (0 comments)
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buyer tips: Housing Rebound Is On The Rise
- 06/09/09 10:58 AM
Sales are the uproar for the economic housing situation this week.
Residential sales and pending sales are adequately increasing and a rebounding real estate market could soon start stimulating the economy.
Even Federal Reserve Chairman Ben Bernanke told Congress last week that essentially the worst is over, the housing market is stabilizing, and we're heading out of recession in the second half of the year.
Pending home sales heightened by 6.7 percent in April. April made the third consecutive month of significant increases. April was the highest pending sale total for any month in the last seven years.
In the Northeast region, pending sales rocketed upwards during April by an astounding … (0 comments)
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buyer tips: March 2009 Market Conditions Report
- 04/22/09 05:39 PM
The Phoenix metro area's strong seller market from 2005 has gone to a complete reversal, going from boom to bust. However, 2009 is promising to be a year of recovery with many positive signs in market. The large amount of supply has created a buyer's market with record inventory levels. That is now changing with March 2009 showing a 6.8 month supply of homes.
Prices have declined approximately 31% year over year, so little to no appreciation is expected this year. I anticipate 2009 to continue as a year of recovery as the market showing very positive signs and sure enough, … (0 comments)
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buyer tips: The $8,000 Tax Credit
- 04/10/09 11:27 AM
I'm sure you have heard about the $8,000 tax credit for those first time homebuyers. Are you eligible? How do you claim it? Here are a few tips to see if this tax credit is for you.
According to the National Association of Home Builders, you must have purchased a home from January 1 to December 1 of 2009. In order to be considered a first time homebuyer, you only need to have not owned a home in the last three years. The buyer must also "have a modified adjusted gross income (MAGI) less than $95,000 for single tax payers or $170,000 for married filers."
… (0 comments)
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buyer tips: Fed Plans Spark Drop In 30 Year Rates
- 04/03/09 11:40 AM
Freddie Mac has reported that the average interest on a 30-year mortgage fell from 4.98 percent to 4.85 percent in less than a week. This drop in interest rates resulted in a 38-year low. This decrease has made housing incredibly affordable. The average price of a home is $172,000, making the mortgage payment only $878.38 for a principal and interest loan.
This diminishing rate came shortly after the Feredal Reserve announced their plan to make another purchase of $750 billion in mortgage-backed securities. They plan to purchase $300 million in Treasuries as well. President Obama claims that refinancing is now possible for 40 percent of mortgages and encourages home … (0 comments)
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buyer tips: Survey Says "Now Is A Good Time To Buy"
- 03/30/09 10:15 AM
Despite the current concern of the economy, 78% of potential first-time home buyers say that now is a great time to buy a home.In early March, Century 21 hosted a survey for potential first-time home buyers. Of the 1,000 prospective U.S. first-time home buyers surveyed, 68% think now is a better time to buy rather than 6 months ago.Record breaking low prices are the driving motivation for first-time home buyers with more than 80% first-time home buyers (85 percent) saying they consider current home prices affordable and 73% citing that taking advantage of current prices is an extensive factor in their decision to purchase. Interestingly enough, potential … (1 comments)
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buyer tips: Decreased 30-year rate at 4.89% Increases Mortgage Application Submissions
- 03/20/09 06:29 AM
The submission of mortgage applications increased last week when interest rates decreased, fueling refinancing activity.
The average rate for traditional, 30-year fixed-rate mortgages dropped from 4.96% to 4.89% in only a week, according to the MBA report.
The average rate for 15-year fixed-rate mortgages dipped from 4.54% to 4.52% in a week. One-year adjustable-rate mortgages fell to 6.20% from 6.21%.
In an effort to save the housing market, the Federal Reserve said in November that it would buy up to $500 billion in mortgage-backed securities. Since then, interest rates have plummeted.
The Mortgage Bankers Association said Wednesday its weekly application index climbed 21.2% for … (1 comments)
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buyer tips: Why To Buy A Home Now
- 02/19/09 06:13 AM
If you are currently renting and debating if you should buy a home, you should consider what best selling author, David Bach, says, "The average homeowner is worth 35 times more than the average renter."
David Bach suggests that renters start saving part of their paycheck every month to help accumulate a down payment. He also believes that renters should borrow 10-20 percent less than what the bank is willing to lend; that way they're only buying as much home as they can afford.
The longer you rent, the longer it can take you to eventually own your own home. Most renters might be nervous to purchase a home … (0 comments)
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buyer tips: January's Residential Highlights
- 02/04/09 11:56 AM
The number of homes that sold in Maricopa County in January 2009 was nearly 58% higher than in January of 2008 AND was nearly identical to the number of sales in January 2007!! January saw a 13% increase in the number of properties going under contract over December and compared to January of 2008, there was an increase of 61.8%! This was the best January we have seen in the 3 years of reporting period AND the best month since July 2008!
Pricing is still declining and January showed a 3.4% decrease over December 2008. The average sales price in January was once … (0 comments)
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buyer tips: Shop Carefully for Home Warranties
- 01/27/09 09:48 AM
Home warranties are supposed to calm buyers nerves and usually do. However, what if ultimately the buyer feels cheated by the insurer? The policy could be more trouble than it is worth.The most important point to consumer satisfaction, in regards to a home warranty, is picking a reputable insurer and reading the fine print. Although there will always be complaints, it is important for all parties involved to understand these home warranty contracts are limited. Home owners who are thinking of purchasing a home warranty contract should consider the following issues.
Get an opinion from the state insurance commission. They are usually aware of companies that … (0 comments)
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buyer tips: First-Time Home Buyer Tax Credit
- 01/08/09 09:38 AM
All homebuyers that purchased their first home in 2008 can take an income-tax credit on their purchase. The first-time home buyer tax credit was passed earlier this year in Congress.To be considered a first time home buyer, the term is used very loosely. In order to obtain this tax credit, the home must be a primary residence and the homebuyer cannot have owned a home in the last three years. Also, the home must be purchased between April 9, 2008 and July 1, 2009.The credit being given is equivalent to 10 percent of the purchase price, up to $7,500. Single taxpayers with modified … (0 comments)
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Looking for a home can be a frustrating process. You’ll look at many that have potential, but in the end you’ll find one that meets most of your original wants. Sounds a bit like dating, doesn’t it?
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