Making an offer on a home can be disappointing, discouraging and sometimes frustrating when the seller doesn’t accept it or accepts another offer over yours. Just because you made an offer doesn’t mean it will be accepted nor does it mean you will get a counter offer. With low inventory levels still across much of […]
TD Bank released a recent study that says 65 percent of home buyers with a mortgage that required PMI (private mortgage insurance) stated having a higher monthly payment that was over what they had originally planned. PMI is a requirement when your home loan exceeds 80 percent of what the home is valued. The premiums […]
When demand for housing is high and the supporting inventory is low, we often use the term “Seller’s Market.” This means selling conditions are favorable for sellers and there are no adverse economic conditions that are affecting the market. A higher amount of willing, able and ready buyers determines demand. A timing of lower interest […]
When you plan your summer vacation trip, you are focused on when, where and how long. You can add even more enjoyment to your trip by ensuring your home is safe and secure while you are away. Here are some suggestions for all homeowners and those with Fairfax Homes for Sale to help put your […]
Most of us know that if you withdraw funds early from your IRA you pay a 10 percent penalty. Current withdrawal age is 59.5 years old. But first-time homebuyers have an exception available to them. They are allowed to withdraw up to $10,000 per person, penalty free, if they did not own a home in […]
The money you spend on your home is treated different when it comes to income tax. When you make necessary repairs to your home to maintain its condition, these repairs are not tax deductible. But any capital improvements you make to your home will increase the base price of the home and add equity. You […]
Bargain shopping. We are all guilty of doing bargain shopping and looking for the best deal. Sometimes even waiting for that 50 percent off sale in our favorite store. Renters should consider being bargain shoppers also. With today’s low mortgage rates, you can buy a $200,000 home with 3.5 percent down on a 4.5 percent […]
Buyers are often interested in working directly with home sellers in an effort to save the commission. Interestingly enough, this is the same reason sellers don’t hire Realtors®. However, both the buyer and the seller cannot save the commission. A home buyer often thinks they have earned the commission by finding a home, checking its […]
Remember your mom saying, “Due unto others as you would have them do unto you?” This rule applies in your search for a home. Being a courteous and sympathetic buyer might be the difference in getting the home you want. People who are familiar with business, like the owner of a store, have expectations when […]
Before deciding if you should purchase a home with cash, think about whether you may have to put a mortgage on the home in the future. Mortgage interest on homes can only be deducted if it is an acquisition debt or an equity debt. If you decide after buying a home to add a mortgage […]
