Archive for the 'Investment Property' Category
March 18th, 2010 -- Posted in Investment Property |
In the post-housing bubble burst, you probably think you cannot buy a home without a down payment. REALTOR® Ki Gray blogs about how it’s not only possible but easier now.
“Buying a home with no down payment sounds like an impossibility in today’s real estate market. Lenders have been tightening their belts and so has the federal government.
On the other hand, however, the feds have also been creating new programs to meet the downturn in the real estate market. If you thought it was hopeless to buy a home with nothing down, well, you’ll be glad to know that you’re wrong!
The Housing and Economic Recovery Act (HERA) of 2008 and the American Reinvestment Recovery Act (ARRA) of 2009 have opened doors for today’s homebuyers who have no down payment, and provided an opportunity for certain public servants to purchase affordable housing.
In addition, state, county and local governments and non-profit organizations provide mortgage assistance to qualified home buyers.”
Click here to read more from Ki Gray’s blog.
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March 17th, 2010 -- Posted in Investment Property |
What do you do if your listing expires with no your residence selling?
You will discover generally numerous causes why a residence does not offer, even in today’s buyers market place. REALTOR® Ann Kritsonis blogs concerning the a lot of motives why and what you’ll be able to do to repair it.
“You have to have to offer your property, you call a Realtor, you list the household, the listing expires. What happened?
Every single property will advertise if its priced perfect. No ifs ands or buts. That could be the very first important. Back in 2006 it seemed that it truly didn’t matter exactly where a residence was priced, it sold quick and with multiple provides. Properly that was 2006; it truly is now 2010.
Yes, place matters, if it really is a smaller amount than ideal, the value have to reflect the area. If you are close to any noise, smell or visible nuisance the value should reflect these negatives.
Yes, situation matters, if this really is much less than best, the price tag ought to reflect the ailment. Wonderful problem signifies no deferred maintenance, repair something that’s broken. Get the clutter out.
To advertise a household it should charm towards the largest marketplace feasible. To charm to much more individuals, the residence wants to become de-personalized (the kids had been cute when they have been 5-years-old, but the pictures have to be put away) and neutralize!
Your agent matters as well. Trust your gut. Do your homework. Tell your agent what your priorities are, then listen for your agent about price tag. Keep in mind, an agent only interprets the market and suggests a price in which the home must sell.”
January 6th, 2009 -- Posted in Investment Property |
New Head of Mortgage Bankers Trade Group Takes Over
January 1st, 2009 -- Posted in Investment Property |
January 1st, 2009 -- Posted in Investment Property |
January 1st, 2009 -- Posted in Investment Property |
January 1st, 2009 -- Posted in Investment Property |
January 1st, 2009 -- Posted in Investment Property |
December 21st, 2008 -- Posted in Investment Property |
Home Not Selling? Sweeten the Deal.
With the housing market in a downward spiral, sellers need to get creative. Sweeten the deal and buyers will take a second look at your home. By this, I mean adding something to the deal or adding something to your home that will push it over the top. This real estate market is, without any doubt, a buyer’s market. That means that if you want to sell your home, you are going to need to do something to make it a better buy than the competition’s home.
What makes one house sell faster than the dozen others for sale in the same neighborhood? A little work and ingenuity can go a long way in any real estate transaction. These four tips will help you sell your house without taking a huge hit to your profit. These are things that you can do for yourself without having to go out and hire a big crew to do the work for you. If you are willing to put in a little bit of work and get your hands a little bit dirty, then you will find that success is in the offing.
Sweeten the Deal. A simple incentive can sway the buyer to choose your home instead of the property for sale up the street. Consider offering to pay weekly lawn-mowing or housecleaning services for their first six months. Agree to cover 25 percent of the buyer’s closing costs or their attorney’s fees. A potential buyer comments on your patio furniture? Offer to throw it in as part of the sale.
Paint and Plant. Visual appeal is key to locking in a sale. First, paint all the interior rooms appealing neutral colors. You might be fond of the purple bedroom but it could instantly turn off a potential purchaser. Outside, only paint the exterior if it is in poor condition. Otherwise, touch up trim, shutters and flower boxes. Add a cute birdhouse or two to the yard, and in season, plant some bright flowers, particularly near the main entrance.
De-Clutter. Clutter, knickknacks and rooms crowded with furniture are a turnoff for many buyers. Box up everything you don’t need and leave every room with plenty of open space. Buyers want to envision their own furniture and belongings in the rooms. If the house is completely empty, hire a staging company to set up temporary furniture and tasteful decorations that will give the house a “homey” feel. This is key to today’s home buyers, who are more and more inclined to go after a home that they feel comfortable in.
Remember the Senses. Smell is an important detail; open some windows before you show the home, bake if you have the time. Never light a floral scented candle; many people have allergies or are irritated by candle smells and they will rush through the showing to get back outside. Play mellow music at a low volume, especially if there is highway noise or construction going on nearby. Classical music is relaxing and a good choice.
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Technorati Tags: housecleaning services, housing market, property for sale, real estate transaction, visual appeal
December 21st, 2008 -- Posted in Investment Property |
Shopping for a home mortgage loan can be very confusing. There are many different types of loans available from many different types of home mortgage lenders. The type of loan you ultimately choose should fit your individual needs and the type of property you are purchasing. How do you know which type of home mortgage loan is best for you? The answer to that question requires a bit of research.
The conventional home mortgage loan is the best known type of loan. The rates on these loans are usually attractive and may have the lowest monthly payment of other kinds of loans. The reason for this is that a fairly high down payment of ten to twenty percent is usually required. The down payment provides security for the lender because the amount loaned will be less than the value of the property.
Potential home buyers who cannot qualify for a conventional mortgage because of the down payment requirement may want to check into some other options. Home loans are made available from the Federal Government through the Federal Housing Administration (FHA). FHA loans are not issued by the Federal Government. Instead, FHA approved lenders make the loans to individuals. The loans are then guaranteed by the FHA. Both the borrower and the home being considered must adhere to certain standards laid down by the FHA. Interest rates on these types of loans are usually very competitive and the down payment requirements are much lower than for a conventional home mortgage loan.
Veterans of the United States Military have another option. The Department of Veteran Affairs offers a program to veterans of the Armed Forces which is very similar to the FHA loan program. Veterans, and the unmarried spouses of service members who died as a result of their military service, are eligible for these loans. The standards for these loans are a bit less restrictive than FHA loans and there is no limit to the amount of money the VA approved lending institution may loan.
Another type of home mortgage loan which has become popular in recent years is called an Adjustable Rate Mortgage (ARM). These loans have an interest rate which may change over the lifetime of the loan. The changing interest rate will cause the monthly payment to change, also. These loans usually have some protections built in. A periodic cap will limit the amount that an interest rate may change at one time. A defined adjustment period governs how often the interest rate may change. An aggregate cap limits the total amount the interest rate may change over the life of the loan. Some ARMS may also include a payment cap, which places a restriction on the total payment amount. Because payments may not move over a specified amount, this cap may result in a situation called negative amortization. A negative amortization occurs when the payment does not cover the entire increased interest due, so a portion of the interest is added to the loan balance.
A construction loan may be used to purchase vacant land and commence construction of a new home on the land. These loans are considered temporary loans and are usually advanced for several months. The loan amount is set at the beginning of the loan. It functions similar to a line of credit. The borrower takes funds as needed for the construction of the home. This is a great option for those who have the homesite, but need the starting cash.
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Technorati Tags: conventional home mortgage, conventional mortgage, federal housing administration, fha approved lenders, home mortgage lenders, home mortgage loan
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