Some homeowners who could not afford to make their mortgage payments this past year have been relieved to find out that their mortgage servicer or lender allowed them to pause or possibly, reduce their payments for a limited period. While it does relieve the financial pressure, it is a temporary remedy. About 2/3 of the … Continued
Even in the current, low inventory housing market, sellers are resisting the urge to sell it themselves and still seeking the help of a real estate professional. It may be more important than ever and there is too much at stake to risk going it alone. The number of people attempting to sell on their … Continued
Ask any real estate agent and they will tell you a similar sad story. The seller, whose home just hit the market, received an offer which was less than the list price, but felt secure their home would sell quickly and countered for more. For whatever reason, the buyer did not continue to negotiate and … Continued
For many people, their home is their largest asset and their best performing investment. The equity in a home is the difference in what it is worth and what is owed. Two dynamics, appreciation and unpaid balance, work in concert to make homeowner’s equity grow. It can be said that you appreciate the fact that … Continued
It has been said that more money has been lost due to indecisions than ever was due to making the wrong decisions. Many times, the larger the decision, the more likely procrastination comes into play and doing nothing will cost something. Buying a home is certainly one of the biggest decisions people make. Careful consideration … Continued
Stepped-up basis is an incredible benefit to people who inherit property. Not only do they receive the property itself, the basis or cost value of the property becomes the fair market value at the time of the decedent’s death. This avoids recognizing the gain between the decedent’s cost and what it is worth when it … Continued
The question is “financially speaking, are you better off owning than renting in the long term?” Renting a home has advantages. It is usually a short-term commitment from year to year and the landlord is responsible for the repairs. Owning a home with today’s low mortgage rates, the total house payment could easily be less … Continued
A home warranty is a service contract that protects your home’s appliances and some systems from repairs or possible replacements. A convenient benefit of a home warranty is that when you report an item, they will assign a service provider to evaluate whether it should be repaired or replaced without the owner having to act … Continued
Credit plays a huge role in getting a mortgage because it is a variable that helps the lender determine the likelihood that the loan will be repaid on a timely basis. Credit bureaus evaluate people’s credit worthiness using a FICO score. The higher the score the better the borrower’s credit. The mortgage rate charged to … Continued
There is a story of a real estate agent’s prayer: “Dear Lord, if I can’t be someone’s first love, or second wife, at least, please let me be their third REALTOR®.” In a normal market with a balanced supply of sellers and buyers, this describes the preference that it might be better to be the … Continued