In the past twenty-five years, not many buyers have been assuming mortgages. In the late 1980’s, the Federal Housing Administration and the Veterans Administration began to require that buyers qualify for the mortgage assumptions.
Even if you have a property lost due to foreclosure or short sale and you might feel relief from being out from under your mortgage obligation, the cancelled amount must be included in your income tax reporting depending on circumstances.
With dramatically shrinking inventory, many real estate markets are now experiencing multiple offers on a home. It is a benefit for sellers with homes for sale in Northern Virginia, who prefer to be able to pick the best offer for them, but it’s frustrating for buyers. As a buyer, you may consider the following tips to get your offer accepted.
In a recently released study, Fannie Mae states the consumer attitudes continue to be favorable about homeownership, especially with younger generations, ages 18 to 34. When comparing the financial and lifestyle benefits, slightly over half of them (71 percent) think that owning makes more sense than renting. Protection against rent increases was mentioned.
Much to the elation of anyone with a Fairfax VA home for sale or sellers anywhere, home prices are on the rise in nearly all states, according to a recent report from the real estate researcher CoreLogic. Evidently, 48 states showed year-over-year gains in April. Meanwhile, home prices also showed month-over-month gains between March and April. […]
What is the value of a one carat diamond? If you have shopped for one, you know that values have a significantly wide range. You have been told to consider, clarity, cut, color and carat size when comparing stones. Bottom line is you still want to know “how much is it worth?”
Although it seems obvious to homeowners that there are benefits to regularly changing the heating and air-conditioning filters; creating a system to make sure it gets done is the real challenge.
A common reason why buyers want to deal directly with sellers is that they feel they can save the commission. Although a valid consideration, it seems to be the same reason the seller isn’t employing an agent.
Homeowners with homes for sale in Northern Virginia have found that the housing climate has changed very quickly. Buyers, who still think it’s a buyer’s market have been surprised to find listing prices rising and they are missing their opportunity to buy the home they really want.
Homeowners, excited about lowering their mortgage rate by refinancing, have a tendency to ignore the costs because they are rolled into their new mortgage. If there’s no money out of pocket and the payment is lower than what they’re paying, it often seems like a good deal.
