down payment: Is a friend your best choice for your agent?
- 08/11/24 04:34 PM
In the realm of real estate transactions, the decision to engage a friend who also happens to be an agent may seem like a tenuous situation and may cause some hesitation. Concerns about how professional relationships may impact their personal connection occasionally weighs on a person's mind, leading them to consider alternative options. It may stem from the fear that any hiccups or disagreements during the transaction may strain or even jeopardize the friendship. It may actually be the opposite. There are many advantages to working with a professional to find your home who also happens to be your friend. Trust: Having a … (3 comments)
down payment: Agent Representation - A Buyer's Perspective
- 08/01/24 02:16 PM
Real estate professionals offer expertise in the local market, guiding buyers toward suitable properties and negotiating favorable terms. They provide comprehensive support throughout the home buying process, managing logistics and serving as trusted advisors. Additionally, agents have access to a network of allied professionals, streamlining the transaction and ensuring smooth coordination. They also advocate for buyers' interests, negotiating on their behalf and addressing challenges that may arise, providing peace of mind and confidence in decision-making. The following is a list of services typically provided to a home buyer by a real estate agent but can vary depending on negotiations between … (3 comments)
down payment: The dilemma is clear: wait for conditions to improve, or act now?
- 07/22/24 05:06 PM
Are you one of the many would-be homebuyers holding off on purchasing a home, hoping for a favorable shift in the market? With insurance, property taxes, and maintenance costs on the rise, it's understandable why some are hesitant to take the plunge. However, the reality is that these factors affecting affordability are compounded by the continuing increase in home values. The dilemma is clear: should you wait for conditions to improve, or should you act now? The Affordability Challenge - Escalating insurance premiums, property taxes, and maintenance expenses are making homeownership less attainable for many prospective buyers. As these costs continue to … (6 comments)
down payment: House-Hacking Rental Property
- 02/04/20 04:34 PM
House-hacking refers to buying a multifamily property on an owner-occupied mortgage, living in one unit and renting the others. If you're thinking about becoming a rental mogul, starting early is an advantage. Not only will you have longer to accumulate a larger portfolio, you can increase the leverage on the first acquisitions if they are owner-occupied. Leverage is the use of other people's money to finance an investment. The higher the loan-to-value, the greater the leverage which can increase the yield. A $200,000 rental property with an 80% LTV at 4.5% for 30 years producing a 16.88% before-tax rate of … (0 comments)
down payment: When It's Important...Find the Facts
- 02/13/19 07:27 AM
When It's Important...Find the Facts2/13/2019 Most parents don't put a lot of credence in the statements "Everyone is doing it" and "No one does that anymore." They'll dig a little deeper and get the facts of the situation. Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home. One of the most common myths is that it takes 20% down payment to get into a home. Certainly, an 80% mortgage might have the most favorable interest rate. It won't require mortgage insurance and qualifying requirements might be a little less but there are … (3 comments)
down payment: Indecision Costs By Making the Wrong Decision
- 08/01/14 11:42 AM
Indecision Costs - 7/21/2014 More money has been lost to indecision than was ever lost to making the wrong decision. The economy and the housing market have caused some people to take a “wait and see” position that could cost them in lost opportunities as well as almost certain higher costs in the future. To illustrate what the opportunity cost might be, let’s compare what the value of the down payment two years from now would be if it was invested in a certificate of deposit, the stock market or used to purchase a home today. A 3.5% down payment on a … (1 comments)
down payment: First Time Home Buyer? Down Payment Source
- 06/09/14 04:04 AM
Another Source for a Down Payment Most taxpayers know that they will pay a 10% penalty if they withdraw funds from their IRA before they turn 59.5 years old. There is an exception for first-time home buyers that allows a penalty-free withdrawal of up to $10,000 per person if they haven’t owned a home in the previous two years. This would allow a married couple who each have an IRA to withdraw a lifetime maximum of $10,000 each, penalty-free for a home purchase. In many cases, the money would be used for a down payment or closing costs. However, … (0 comments)
down payment: One Size Doesn't Fit All
- 01/05/12 10:01 AM
One Size Doesn't Fit AllRarely, does one size fit everyone and the same goes for advice. The following suggestion is not right for everyone. However, for people with job security and who don't own a home; for people with good credit and enough savings for a down payment, there may never be a better time to buy a home.Homes have had a significant price correction but in many markets, they have started to rise again. The lower prices combined with historically low interest rates make this an opportune time to buy a home if you can afford it.One of … (1 comments)
In the realm of real estate transactions, the decision to engage a friend who also happens to be an agent may seem like a tenuous situation and may cause some hesitation.
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