What is PMI? When you buy a house there are four key cost components that are included into your monthly mortgage payment. The four components are commonly referred to as “PITI”. PITI includes the (P) - principal amount of the mortgage, (I) Interest on your new mortgage, (T) county taxes and (i) insurance. Now, we will now explain how… and when PMI is added to your monthly mortgage. If you cannot afford to make a 20 percent down payment on a conventional loan - PMI, or private mortgage insurance protects your lender from loss in case of default. Having private mortgage insurance will allow you to make a significantly lower down payment than the required 20 per cent, and still obtain a traditional conventional financing. You could be eligible to cancel your PMI coverage if specific lender guidelines are met, e.g., having no late payments and the overriding factor - having built at least 20 percent equity. You build equity quickly when… and if your property value increases or, if … [Read more...]
Victoria Falls Market Watch – Villa Townhouses
Victoria Falls Market Watch – Villa Townhouses is provided as a guide to help distinguish between the various styles in the Victoria Falls community. VF includes Michael Harris single family homes, Drees and Craftstar villa style townhouses. New Listing – 7118 Piney Woods Place – Craftstar villa townhouse listed for $369,900. Features include four bedrooms and two full baths. Approximate tax living area - 3,005 sq. ft. Days on Market – 7. Active/Listed – 7307 Birdcherry Lane – Craftstar villa townhouse is listed for $349,900. Features include three bedrooms and three full baths. Approximate tax living area – 1,850 sq. ft. Days on market – 56. Under Contract -7224 Paperbark Terrace – REO Craftstar villa townhouse listed for $229,900. Pending closing on September 15, 2014. Features include two bedrooms and two full baths. Approximate tax living area – 1,472 sq. ft. This was an exceptional value based on original list price. Days on market – 100. Under Contract – 7311 … [Read more...]
Selling Home
Home Upgrades with the Lowest ROI File these six upgrades under wish fulfillment, not value investment. Read 7 Smart Strategies for Kitchen Remodeling Follow these seven strategies to get the most financial gain on your kitchen remodel. Read 10 Inside Tips From a Designer Who Specializes in Small Baths A New York City designer shares secrets to making a small bath both functional and beautiful. Read How to Pick Paint Colors Paint has remodeling power when you use it to emphasize a room’s best features or play down the flaws. Read Smart Options: Basement Flooring Keeping your basement dry and free of condensation is key to installing the basement flooring of your choice. Read Visit houselogic.com for more articles like this. Copyright 2014 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Victoria Falls Market Watch – Villa Styled Townhouses
This Victoria Falls Market Watch - Villa Styled Townhouses reports one townhouse villa listed for sale at $359,900 and currently under contract pending closing. This villa style homes include three bedrooms and three full baths. Victoria Falls Market Watch reviews and tracks the VF community market data on a daily basis....It appears that the Crafts Star villas are selling for a lot less than the Drees styled villa homes. Most of the Drees town homes are closing at $375,000 to $380,000. Although , the majority of buyers are looking for the end unit Drees style homes. Some of these Drees homes include four bedrooms and spacious living space. VF Market Watch - Villa Styled townhouses indicate that the average sales prices for villa style homes range from a low of $349,900 to a high of $380,000. Unfortunately, there have not been any sales of the Drees end units homes thus far in the community. Victoria Falls Market Watch - Villa Styled Townhouses residents should anticipate an … [Read more...]
Victoria Falls Market Watch – Condos
Victoria Falls Market Watch - Condos shows that there are currently no active condos listed on the market for sale at this time. The most recent sale of a condo closed this summer at $235,000 on July 16th. This was the highest sales price for any condo style in the VF community thus far. This increase should be considered great news for those condo resident facing foreclosure, short sale or foreclosure or thinking about relocating to another region. We'll be watching the VF market to see if this trend in increased market values continues going forward. Victoria Falls Market Watch - Condos suggest to condo residents to anticipate continued increases in sales prices moving forward in 2014 – 2015. The Victoria Falls community is fortunate to have a daily stream of interested and motivated buyers searching the internet and Google searches, visiting, walking and looking to relocate into the VF community. Google search engines are giving Central Park at Victoria Falls high ranking at the … [Read more...]
Victoria Falls Market Watch – Single Family Homes
Victoria Falls Market Watch - single family homes provides a peak at the market activity within Central Park at Victoria Falls community. Several properties that were previously listed for sale during the summer have now closed. Coupled with an insufficient inventory of homes for sale and record low interest rates sellers are witnessing a sizzling sales market to say the least! The current supply of home listed have not kept pace with the increased number of home buyers flooding the market looking for homes to purchase. Victoria Falls Market Watch - single family homes focus on the sale of two single family homes this summer. The sale of a Michael Harris (MH) single family home (without a basement) listed and closed escrow at $399,900. This was a Hemingway Model that closed on June 30, 2014 without any sellers’ contributions to the buyer. The other pending sale of a MH single family home (without basement), which was a former model home was rescheduled for closing on the 31st. of … [Read more...]
Selling a Home
Selling a home seems to be a major undertaking….. Question: We are ready to list our house for sale. We would like a quick sale, want to make a reasonable profit on our investment, and save as much as possible on the commissions. Do you have any advice on how to set a fair asking price to attract buyers? Ask the Experts: Selling a home - Deciding on the right asking price is one of the most important factors when selling your home. A price that’s too high can dissuade potential buyers, while a below-market price will reduce the return on your investment. And, may cause buyers to think something’s wrong with the house. Selling a home can be tricky endeavor – To start the process consult with a real estate professional who will prepare a Comparative Market Analysis (CMA) based on your home’s fine features, recent upgrades and location. The CMA will compare your home features with similar homes with similar features that have recently sold in your neighborhood. Usually, within 180 … [Read more...]
Is a Condo Right for You?
Is a condo right for you? Condominium sales have increased in many parts of the country. The three largest groups of condo buyers are people buying real estate for the first time, couples whose children have left home, and retired people buying in a retirement community or buying a vacation home. There are several things to consider when investing in a condo, no matter where it is located or why you are making the investment. In some condo communities, you will share the facilities of the common areas, e.g. hallways, parking spaces, storage areas, clubhouses, swimming pool, and tennis courts with other residents. Therefore, you want to buy a unit in a community where these facilities are properly maintained and secure. Is a condo right for you? Another consideration is the added cost that comes with owning a condo. Most condos charge a monthly Homeowners Association (HOA) fee and condo fee that covers upkeep and repairs. Fees of this nature usually cover such things as water, trash … [Read more...]
First Time Home Buyers with bad credit
First Time Home Buyers with bad credit should know their FICO score early on in the home buying process. This is one of the most important steps when investing in a home. Understanding your FICO score and obtaining a pre-approval letter from a reputable lender will greatly enhance your chances of obtaining loan approval or commitment....Your lender will determine your buying power and maximum loan amount! A mortgage lender will first start with a preliminary credit check. This process could be added to an automated underwriting system to determine any loan conditions prior to determining your buying power. Your estimated loan amount will then be computed based on your credit worthiness. First Time Home Buyers with bad credit - As a first time home buyer should talk to a mortgage lender or search online for your FICO credit score early in the process. A free credit score can be obtained from www.annualcreditreort.com. This site will provide your credit score and a report for a fee. … [Read more...]
Victoria Falls Market Watch – June 17, 2014
This edition of the Victoria Falls market watch shares the latest market data for the VF community. We share this market information with our neighbors, residents, potential buyers and others who are interested in the real estate market in the Victoria Falls community. Since our last edition on May 23rd - one single family home is now under contract with a kick-out clause. There are two villa styled homes currently under contract with no kick-out clause... This Victoria Falls market watch data is provided by our local Multiple Listing Service and include the following residential stats as of today, June 17, 2014. The analysis report shows that the average list price of single family and villa homes is $343,675. One single family property previously listed at $399,900 is now under contract with a kick-out clause. The actual closed price will not be available until after the closing date scheduled for June 30th. There are two villa style properties under contract with no kick-out … [Read more...]
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