Your home is a tangible asset, which consistently becomes more valuable over time. During times where inflation is significantly high, a home is a good investment and is a hedge against inflation. Why? The interest earned in savings is almost always less than inflation. Borrowing money, in other words, a loan, can be a great […]
You’ve probably heard the term “credit score” before – especially if you’ve purchased a car, applied for a mortgage, etc. But, what exactly is a credit score? They’re used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit. The score is […]
A concession is a discount or incentive which is offered during a real estate transaction. Some sellers offer concessions to provide an incentive to encourage buyers to purchase their home. Concessions are paid for by the seller, as they benefit the buyer in ways that may be more appealing than possibly, being able to purchase […]
There are some very difficult decisions which can tend to arise when you’re a homeowner. Sometimes, those decisions are what can make or break the idea of renting vs buying. If you think about it, the idea of an asset which is worth hundreds of thousands of dollars can be slightly terrifying to some! Not […]
“It’s a fact that many households are impacted by higher mortgage rates as they no longer earn the qualifying income for the median-priced home.” Nadia Evangelou, NAR Economist. What this means is that the rapid rise in mortgage rates during 2022 is coupled with continued appreciation of home prices. This has limited the number of […]
I’m sure you’ve heard, but mortgage rates are still rising. It’s causing some would-be buyers to pause their decisions until they determine whether rates are going to come back down. It may be possible, but the probability is that prices are going to continue to increase. According to Freddie Mac, the 30-year fixed-rate on December 23, […]
Normally, married couples own a home as joint tenant with rights of survivorship. When a spouse dies, the surviving spouse inherits the home and it does not trigger a taxable event. Unfortunately however, the capital gain exclusion is reduced to a single person’s share unless the survivor disposes of the property in the granted time. […]
There are so many things going on – every single day – all around each and every one of us. Just think, a global pandemic, supply chain issues, highest inflation in 40 years, the economic effects of a war in Ukraine, it can be overwhelming to think about when the right time is to buy […]
Been thinking of downsizing? This actually could be a good time to put those thoughts into gear. Especially right now, selling and buying a lower priced home in an “Up” market can be to your advantage. See, the advantage is to maximize the sales price on your existing home and replace it with a less expensive […]
So when exactly does the primary negotiation when purchasing a home take place? Quite simple actually, it takes place when the contract is signed and agreed upon – including the price, closing date and when possession will take place. One issue especially over the past year is inventory was down 19%, which made multiple offers […]
