Will Selling Your Home Increase Your Tax Bill?

With home prices rising 20% nationwide in the past year and in some markets, even dramatically more, many homeowners are excited about the equity in their homes. In the past, most homeowners were not concerned about profit from the sale being taxed but some may be surprised. The profit homeowners make on the sale of … Continued

Buying a Home…Ask for a CLUE Report

People purchasing a used car have most likely heard of CARFAX vehicle history reports to help them avoid buying a car with costly hidden problems. Less likely are buyers to know that there is a way to discover some of the repair history of homes they are interested in. Lexis Nexis C.L.U.E. (Claims Loss Underwriting … Continued

Coordinating the Sale and Purchase of Your Home

Usually, it is easier to buy a home than to sell a home but that isn’t necessarily the case currently. In today’s market, it can be scary to sell your home before buying another because you could find yourself without a home. Most sellers will not accept a contingency on the sale of a buyer’s … Continued

A New Opportunity for Homebuyers

You may not have heard of anyone assuming an existing mortgage for over thirty years and didn’t know they were even possible any longer. The reason is simple, it didn’t make financial sense but now that interest rates are increasing, it may be an opportunity for some homebuyers. Conventional loans added clauses to mortgages back … Continued

Cost of Waiting to Buy in Both Price and Interest Rates

Have you ever been shopping on a website where you were looking at something that was on sale? You were interested in it but there wasn’t a sense of urgency and maybe, you had a lot going on and didn’t get back to it for a few days. When you did go back to the … Continued

Why a Home Should Be Your First Investment

Real estate has been described as the basis of all wealth. Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth. A home is an asset measured by the size of the equity. Equity is simply the difference between the value … Continued

Paying Points to Lower the Rate

Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. Another way to lower your payment would be to buy down the interest rate for the life of the mortgage with discount … Continued

I wish I knew then…

We have all heard this expression that implies that had a person known earlier in life what they know now, they would have done things differently. The subject possibilities are endless While no one has a crystal ball to see into the future, it may be possible to learn from people who have experienced similar … Continued

Your Home is a Hedge Against Inflation

The concern about inflation is the sustained upward movement in the overall price of goods and services while the purchasing value of money decreases. Tangible assets like your home consistently become more valuable over time. In inflationary periods, your home is a good investment and a hedge against inflation. Money in the bank loses purchasing … Continued

Why is the APR higher than the interest rate?

Annual percentage rate is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. Annual percentage rate, APR, calculates the interest rate and loan fees over the life of the loan expressed as a rate. A mortgage has … Continued

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