highlands ranch co: Would you move if it was to your advantage?
- 01/04/21 04:57 PM
A much-repeated investment strategy is to buy low and sell high. Some people who purchased around the financial crisis of 2010-2012 are poised to make considerable profits. The median home price in America is now $295,300 up from $155,600 in February 2012 which calculates close to an 8% annual increase. The median equity that homeowners have earned during the same period is $140,000. Inventory is in short supply while demand is high which has caused prices to increase. Factors that continue to contribute to the lower number of homes on the market are record low mortgage rates and housing starts have not met … (2 comments)
highlands ranch co: Home Inspections
- 12/01/20 01:42 PM
A home inspector is another key professional involved in a real estate transaction. Many times, the sales contract will have a provision that allows the purchaser to have inspections made to discover issues that are not readily apparent or have not been disclosed by the seller. It is important to have a qualified individual perform the inspection. Regardless of whether a license is required, buyers should ask about the inspector's experience, training, years in business and if they are familiar with the area and type of property involved. Membership in professional associations can indicate an inspector's commitment to education and training. References from … (0 comments)
highlands ranch co: VA Funding Fee Going Up
- 10/13/19 03:33 PM
The cost of a VA home loan is going up beginning January 1, 2020 when the funding fee is being increased from 2.15% to 2.3% for first time use. The amount increases to 3.6% for subsequent zero-down payment loans. Reservists and national guard veterans are subject to a slightly higher fee. Veterans pay a funding fee when purchasing a home with a VA insured loan. This one-time charge, collected by the Department of Veteran Affairs, is based on the loan amount to value with the fee decreasing as the down payment goes from 0% to 5% or 10% or more. It can be paid … (4 comments)
highlands ranch co: What Every Homeowner Should Know About their Property Insurance
- 09/23/19 01:52 PM
Insurance is required on a home by the mortgage company, but homeowners rely on it for peace of mind also. Unfortunately, people may not take the time to investigate their policy and what it covers until they need to file a claim, which could be too late. While it may not seem like the best use of your time, an in-depth visit with your property insurance agent once a year could be valuable to you if you have losses and could increase your peace of mind. The following are some questions you can ask your insurance agent: What is the insured … (0 comments)
highlands ranch co: Ready to Downsize?
- 09/04/19 01:26 PM
9/4/2019 It is estimated that over 15% of the population in the U.S. are over 65 years of age. With one of the most common fears of seniors being their money will run out early, it is understandable that downsizing may be strategy to meet their goals. Once the kids are grown, have careers, relationships and get a place of their own, parents find they may not need their "big" home like they did before. In other situations, their lifestyle might have changed, and the house just doesn't "fit" anymore. The benefits of a smaller home can include the following: Easier to maintain … (2 comments)
highlands ranch co: Taxes and the Homeowner
- 07/13/19 04:43 PM
Whether you're an owner now or expect to be one in the future, it is important to be familiar with the federal tax laws that affect homeownership. Since personal income tax was enacted in 1913 with the 16thamendment, homes have had preferential treatment. The mortgage interest deduction is based on up to $750,000 of acquisition debt used to buy, build or improve a principal residence. In addition to the interest, the property taxes are deductible, limited to the new $10,000 limit on the aggregate of state and local taxes (SALT). The taxpayer may also deduct interest and property taxes subject to limits on … (2 comments)
highlands ranch co: Check for Water Leaks
- 07/13/19 04:30 PM
7/10/2019 Aside from standing water in your yard or water running out from under a sink, the first indication that you might have a water leak comes from a larger than normal water bill. Before calling a leak specialist or a plumber, there is a simple diagnostic you can perform. Go through your home and make certain that all the faucets are turned off and that the toilets have indeed stopped filling the reserve. Then, go to the water meter and make a mark on the lens where the dial is currently. If there is water in the meter box, the meter itself could … (3 comments)
highlands ranch co: Act Decisively
- 09/11/18 04:31 PM
Whether it is hesitation or procrastination due to uncertainty, it can cost buyers by having to pay more for both the house and the financing. This is one of those markets where most of the experts expect interest rates and prices will continue to rise through 2019. The National Association of REALTORS® reports there is currently a 4.2-month supply of homes for sale which is close to the same as last year's inventory. Normal inventory is considered to be a 6-month supply. If during the period you're waiting to buy, the price of the home goes up by 5% and the mortgage … (0 comments)
What your home is worth depends on why you ask the question. It could be one value based on a purchase or sale and an entirely different value for insurance purposes. Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This value is generally indicated by a comparable market analysis done by real estate professionals. Insured value is determined for insurance coverage. Homeowner policies typically have replacement clauses in them and the cost of demolition, new construction and the added complexities of matching existing construction … (0 comments)
highlands ranch co: Family & Friends Mortgage
- 07/13/17 08:05 PM
Anytime a lender and borrower can agree on rates and terms, it can be a good match but IRS has specific rules that govern the transaction especially when the parties are family or friends. The loan must be done in a business-like manner with a written note specifying the loan amount, interest rate, term and collateral. IRS requires that the mortgage be a recorded lien to allow the interest deduction. Sometimes, a friends and family situation might have a less than normal interest rate on the mortgage. However, the rate charged in the note is regulated by the minimum applicable federal rate which … (0 comments)
highlands ranch co: Don't Have a CLUE?
- 07/03/17 06:47 PM
If you haven’t heard of a CLUE report, it has nothing to do with the table game searching for a murderer. It is a report showing the insurance claims on your home and car for the past five to seven years. This database is used by insurance companies to evaluate risks and determine rates. C.L.U.E. stands for Comprehensive Loss Underwriting Exchange. Rates can be increased not only due to legitimate claims but data entry errors also. Sometimes, simply asking a question without filing a claim can be logged as a claim. For that reason, similar to verifying the accuracy of your credit report, … (0 comments)
A much-repeated investment strategy is to buy low and sell high. Some people who purchased around the financial crisis of 2010-2012 are poised to make considerable profits.
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