Are you ready to make the leap into home ownership? Are you still living at home? Renting a home to own? While everyone moves at their own pace now is the time to take advantage of the historically low interest rates. In addition to, local and federal programs available to first time home owners. Here are some a few signs to observe to determine if it is time to own your own home. Let's take a look at some of the reasons you should consider to justify your home buying decision. Are You Sticking Around? If you plan on moving soon for a job transfer. Or, plan on moving in the future for other family reasons - it may be better to rent. However, if you are thinking about living in the same city, town or within the same county for years to come - it is time to put down roots! You will appreciate the stability that comes with home ownership. Home ownership can make you more prepared for a marriage and/or a family if that's the lifestyle you prefer. The stability of … [Read more...]
Home Inspections – How to Get the Most Value
Home Inspections - How to Get the Most Value: One of the most stressful parts of selling a home is the dreaded home inspection. Getting the most value from a home inspection is crucial, especially since any missed item can cause a significant amount of trouble a few years or decades down the road. With that in mind, let's take a look at a few tips on how one can get the most value from a home inspection. Home Inspections - How to Get the Most Value : Keep Calm And Allow the Inspector to Have Full Control For sellers - having a stranger paw through every corner of their house is frustrating. To a seller their home have emotional value and no one wants to hear about their homes' flaws. The key to a successful inspection lies in remaining calm. Blowing a fuse or arguing with an Home Inspector is a sure way to lose money! Stay calm, smile, and accommodate the inspectors instructions. The payoff is worth it! How to Get the Most Value - Understanding The Process Buyers … [Read more...]
Thinking About selling a home with Tenants still living inside
Thinking about selling a home with tenants still living inside – A condo or a house you have rented out for some additional revenue? If so, you're likely trying to discern how to best inform the current tenants and conduct the sales process in a way that works well for all of the parties involved. In today's blog post we'll explore how to sell your home while you're renting it out to tenants and share three tips that can make the process a bit easier. #1: Review Local Laws and Your Tenancy Agreement First, you'll want to break out your tenancy agreement and download any state, provincial or municipal laws that apply to landlord-tenant relations. Selling a home with renters living in it can result in a number of sticky situations. You'll want to ensure that you conduct yourself in accordance with the rule of law in your local area or you may end up in court if the process goes sour. #2: Communication is a Vital Part of the Process Next, you'll need to … [Read more...]
How Home Equity Works – Buying a Home can be Your Best Investment
How home equity works - buying a home can be your best investment... When delving into the world of real estate and investment property, there are many terms that will come up that require further explanation. Whether you've never heard the phrase 'home equity' before or you have a little familiarity, here are the ins and out of what it means and how this asset can help your financial outlook. All About Home Equity Essentially, home equity refers to your portion of the value of your home. The dollar amount of this figure is important because it is included among your assets when determining your net worth. If this sounds confusing, think of it this way: if you have completely paid off the cost of your home, the value of your home equity is this total amount. Of course, because most people seek a lender to borrow money from when they purchase a home, their home equity would consist of their down payment and whatever amount they've paid down on the mortgage since … [Read more...]
Buying a New Home Grows Wealth Faster Than Renting
Buying a new home grows your wealth faster than renting - There can be many downsides to both renting and buying. Depending on what side of the coin you are on...if you're leaning towards purchasing a home the purchase can have added benefits for your bank account that renting does not. Renting can certainly alleviate many of the costs that go along with property ownership. However, purchasing a home can have positive monetary affects in the long run. The Good Impacts of Inflation While inflation is often seen as a dirty word a real estate purchase can provide the positive side of inflation with how your home purchase investment will grow over the years. Putting money into rent will mean that money is gone and out the window once you've paid for the month. Investing into a property will come back to you in future gains as home equity in the real estate market. While buying a home will be more expensive in the short term, it can also provide you with greater financial flexibility … [Read more...]
Home Modifications that can Lessen Your Home’s Value
Home modifications that can lessen your home’s value - Renovations to Avoid: Whether or not you've been thinking about selling your house for a while, there's a good chance you've heard the buzzword 'renovation' and considered how it can positively impact the value of your home. From upgrading your kitchen to painting, there are plenty of renovations that will do wonders in terms of your property's price on the market. There are a few modifications that can actually have the opposite effect so you'll want to be leery of the following fix-ups Cool Colored Tile If, at some point, you installed a bunch of brightly colored tile into your living room or kitchen to add a bit more life to your home, it's possible this is the type of renovation you may come to regret upon resale. Often times, when it comes to purchasing a home, buyers will be looking for something they won't have to renovate right off the bat, so a flashy feature can have a marked effect on the selling potential of your … [Read more...]
Home Sales Tips – How to Market Your Community to Prospective Buyers!
Home Sales Tips – How to market your community to prospective buyers! Selling a home is more than a real estate listing - make the home appealing to potential buyers. One factor buyers take into account when buying a home is its location, meaning the community that surrounds the home. For sellers as well as buyers, it's important to highlight the benefits of living in a particular community. After all, neighborhoods will have an enormous impact on the future buyer’s living experience. It’s All About Walkable Neighborhoods According to a Portland - Oregon-based company, City Observatory, there’s a growing demand for homes located in walk-able neighborhood. Decades - long love affair with commuting from suburban areas to work in the city has greatly lost its appeal. Also, the growing demand for walk-able neighborhoods is fueled by people desiring convenient access good schools as well as entertainment options like movie theaters, restaurants, and shopping. There’s also an … [Read more...]
Have you Outgrown Your Current Home? Here are Five Easy Ways to Tell if it’s Time to Upgrade
Have you outgrown your current home? Here are five ways to tell if it’s time to upgrade. Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing larger homes. Is it time to pull up stakes and move on from your starter home? Growing Family If you've added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, but with two kids, you're starting to have turf wars over the play area. Overflowing With Stuff From an overflowing toy chest to closets packed so tightly with shoes and coats you risk an avalanche every time you open the door, your home just doesn't have the space to keep all your things. You may have even had to move some things off-site, spending money to rent storage space to keep that antique dresser your grandmother left you or the set of state spoons … [Read more...]
First Time Home Buyers Credit
First time home buyers credit - The State of Maryland has a great program to help home buyers obtain home ownership and now first time home buyers can qualify for the the Maryland Mortgage Program! If you have not owned a home in the past three years in the State of Maryland, there is an EXCELLENT chance you will will be eligible for assistance of $5,000 at a MINIMUM. And, even if you have owned a home in the past three years, there are targeted areas where you can buy again without the 3 year wait. For example, the entire City of Baltimore is classified as targeted so anyone can get $5,000 in assistance as long as they don't own any other property when they go to settlement. The Maryland Mortgage Program offers $5,000 in assistance or potentially more depending on the your employer for down payment or closing cost assistance. So, if are purchasing a $200,000 home and you need 3.5% of the purchase price ($7,000) as a down payment, this program will … [Read more...]
Victoria Falls Market Watch – Single Family and Villa Home Sales as of May, 2016
Victoria Falls Resort Club Victoria Falls Market Watch – Single Family and Villa Home sales as of May, 2016 provide a quick snapshot of the real estate market activity within the Victoria Falls Community from January, 2016 until today. A low inventory of available homes and increasing sales prices continue to define the residential real estate market across the country and in Victoria Falls. There were two Single Family Homes (SFH) closed during this period. One SFH settled at a low closed price of $455,000; another closed at a high of $475,000. In addition, one villa closed at $369,900. According to MRIS property data there was no seller’s subsidy to the buyer in any of the sales. Victoria Falls Market Watch – Single Family and Villa Home sales as of May, 2016 activity summary follows: Sold -7202 Paperbark Terrace - List Price: $369,900 - Closed Price - $369,900 - Closed Date: April 29, 2016. No seller’s subsidy to buyer. Days on Market – 2. Approximate tax living … [Read more...]
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