Consider, before paying cash for a home, if at some time in the future you would want to add a mortgage on the home and want to deduct that mortgage interest on your federal tax return. The current federal tax law allows homeowners to deduct the interest on up to $750,000 in acquisition debt that […]
There has been this stigma about new families or first-time home buyers getting their first “starter” home. For generations, people have looked for that home as a jump into homeownership. Logic suggests that starting with a smaller home, you can learn how to take care of it, learn what it costs to maintain a home, […]
Tax filing season is upon us again. A silver lining to completing that return is getting good news about a refund. This extra money could literally open the door to a new home. If you happen to be one of the fortunate, then your next decision is what to do with the refund. The average […]
The strategy we are talking about today is not about negotiating the best price but rather about beating your competition and buying the home. The reality is there is just not enough homes on the market and when competition gets tough different tactics are necessary. This may not dawn on you until you lose a […]
In an ideal situation, both buyers and sellers pay their own closing costs on the purchase and sale of a home. These costs can be negotiable depending on lender requirements and current market conditions. Closing costs and fees are itemized on the closing statement and are usually paid at the time of settlement. Before contracting […]
The first time you make a specific meal it is essential to have the recipe so hopefully it turns out just as you are expecting. By following the recipe, you know the ingredients and the preparation instructions can guide you through the process. When it comes to buying a home, it is basically like following […]
Cutting prices or offering sales prices will generally bring people buying anything out of the woodwork that may have not been serious buyers before. In today’s market, renters can easily lower their monthly housing costs by half or more by buying a home with all the financial benefits that it brings. A renter’s mortgage payment […]
Well you contacted a mortgage company, did your homework and now you believe you are pre-approved. Since you finished that part of the process, you can concentrate your efforts on finding a home and moving…or can you? Please be aware that pre-qualified and pre-approved mean two different things. Unfortunately, some people, including business people use […]
A team of professionals is involved in the process of buying a home. You have the lender, the appraiser, the inspector, the property insurance agent, the title officer plus others. But a real estate agent may hold the most critical role. Baking a loaf of bread seems simple. With only four ingredients: flour, salt, yeast, […]
These are unsettling times and buyers and sellers have a concern about keeping virus-free and staying healthy like the rest of us. To keep everyone safe, these new showing procedures should be considered before walking into a home. Agents are reporting that they are selling homes where the buyers have not physically been in the […]
