In the past homeowners had a natural progression in owning homes. They would begin homeownership with a starter home, move onto a dream home to raise a family, then downsize upon becoming empty nesters and finally moving into a retirement home to finish out their years. But recently, Marianne Cusato’s 2016 Aging-in-Place report indicated that […]
Real estate professionals all know that the longer a home is for sale, the higher the chance will be that the price will drop. Sellers tend to think their home is wonderful and will sell quick. If you have a good location, and your home is in good repair then the only other factor is […]
You want irony? You may think you can’t buy a home right now but if you are renting you are buying a home for your landlord. Here are several factors to support this argument. Regardless of whether a mortgage is held by an owner-occupant or an investor, they are amortized so each payment made reduces […]
“It’s impossible to get low down payment loans.” – MYTH! FHA down payments are as low as 3.5% for a credit score of 580 or higher. USDA may have 0% down options available in some areas. FNMA has 3% down payment options. Freddie Mac has the Home Possible Advantage program at 3% if your credit […]
As we begin the new year everyone seems to have the same things on their resolution list. Lose weight, save money, exercise more…well maybe this is your year to invest in a rental home. With a strengthening real estate market, rents are on their way up, home values are steady and mortgage rates for non-owner […]
Let’s do some quick comparisons of cost between 1966 and today. A gallon of gas was cheaper at $.32 where today it is $2.49. A dozen eggs were $.60 and they have doubled to $1.33 unless you buy specialty eggs then they are $3 to $4. Then another staple, a gallon of milk was $.99 […]
According to an article posted by Bankrate.com on December 12th, the 30-year fixed mortgage rate rose to 4.02 percent which is up 3 basis points since the same time last week. At that rate you will pay $478.57 a month in principal and interest for every $100,000 financed. That is $1.73 higher than last week. […]
During the housing market bust that happened around 2007, some existing homeowners opted to rent out their main residence instead of selling it for less money. Interestingly, the IRS tax code will allow the temporary rental of a principal residence without the homeowner losing the exclusion of their capital gain with some time limit restrictions. […]
The other day someone called a radio talk show and had a situation that troubled the caller and is also disturbing to listeners because of the potential tax liability and steps that can be taken to avoid it. The elderly father of the caller had switched his deed on his home to his daughter a […]
Most American believe that they will have a car payment and a house payment for the rest of their lives. But if you get a plan and a little discipline you don’t have to be in that majority. You plan should be to make additional principal contributions to your fixed-rate mortgage which will shorten the […]
