In our current market, there are at least 40 percent fewer homes on the market than a year ago. Buyers who are serious have probably already experienced the disappointment of losing a home due to increased competition. Today, buyers are looking for ways to improve their chances of having the best contract without using the […]
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 […]
The stay-at-home orders that were issued across the U.S. in 2020 resulted in a lot of homeowners thinking about how nice it would be to have a larger home to accommodate all the activities that are now taking place in their current home. This is especially evident with homeowners who have children at home taking […]
A tool that lenders use to qualify buyers for a mortgage is called the debt-to-income ratio and it is an important factor in determining loan approval. It gives the lender an indication of the amount of debt that a potential borrower is obligated to in relation to how much income they have. To determine total […]
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 […]
Based on sales during the July to September period, the National Association of REALTORS® (NAR) says vacation home sales are up 44 percent year-over-year. Not only are they selling faster than last year but the number of units is up. Across the nation, 72 percent of existing vacation homes that closed in October were on […]
Many times, a sales contract on a home will include a provision that allows the buyer to have inspections done to discover any issues with the home not readily apparent or disclosed by the seller. A home inspector is one of many key professionals involved in real estate transactions. You must have a qualified individual […]
