“It’s not far, if you know the way.” This often used expression implies that not knowing the way could end up taking you around the block a couple more times that you wanted. You wouldn’t take off for somewhere you’ve never been without consulting a map or GPS so why buy a home without taking […]
“If” interest rates go up is not the correct question. “When” interest rates go up is what you need to worry about. Because “when” those rates increase it will be a big difference for buyers and move-up buyers. Freddie Mac is predicting that mortgage rates will be at 4.5 percent a year from now. Higher […]
Some buyers are under the impression that they need to wait until they have saved a 20% down payment so when they buy their dream home they can avoid mortgage insurance (PMI) which lenders required when the loan-to-value ratio of larger than 80 percent. The only exception to this rule is VA loans. Here is […]
For some home sales there can be two periods of negotiation. Your primary negotiation happens when the contract is agreed to including price, closing date and possession. Both parties feel relief once this primary negotiation period is finished. But if there are any contingencies for financing, inspections or anything else, more negotiations will ensue. Getting […]
In today’s world we are all caught up in the instant gratification era. We all walk around with our lives in our hands, literally in your phone. So expect people to react with “don’t waste my time.” Buyers, sellers or Real Estate agents can all feel this way. It has been ingrained in us that […]
As we live our lives it seems that change is the only constant in them. There was a lot of speculation last January that interest rates would increase right beside home prices. And while it is true that home prices have increased in most U.S. markets over the last five years, mortgage rates today are […]
All real estate contracts have their required elements, considerations, mutual assent, capacity and legality but there are some things that you can do to increase your offer being accepted. The homeseller would like to get the highest possible price in the shortest time period with the least inconveniences. Conversely, a buyer wants to get the […]
If you have a good job and good steady income and a qualifying retirement program, you may be able to buy a home. The rules differ between a Roth IRA, a 401(k) or a traditional IRA With a 401(k) account, you can borrow up to half of the balance or $50K, whichever is less, for […]
Redfin recently conducted a survey of almost a 1000 home buyers where they stated that with inventory low, affordability is their number one concern. Competition from other buyers is getting stronger. But if you’re not in the game, then your chance of buying is even lower. Redfin’s survey showed that 26 percent choose affordability, 19 […]
“If I tell you it’s going to rain, you can put the buckets on the porch.” Sayings such as these are often used in the south as a testimony of a person’s veracity of their word. If you personally know someone or know their reputation, you can make a decision on whether to trust them […]
