Interest - Only mortgages received a lot of bad press during the aftermath of the housing bust, but they have stuck around as a viable mortgage alternative to home buyers who meet rigorous lending guidelines enacted by the federal government in recent years. Interest - Only mortgages can lower monthly mortgage payments by allowing borrowers to delay paying principle on their loan for several years. The down side of this mortgage program is the increase in mortgage payments when interest-only period comes to the end. At that time, borrowers begin to pay a combination of principal and interest until the loan is paid off. The shock of the increase in monthly mortgage payments as a result of higher interest rates on adjustable-rate interest only loan loans have caused many borrowers to default on their loans in the past. This shock in monthly payments is often accompanied with a higher interest rate which results in many borrowers falling behind in their monthly … [Read more...]
Victoria Falls Third Quarter Market Watch – Sold Condos
Victoria Falls Third Quarter Market Watch – Sold Condos sales this summer have been extremely strong! The market continues to look lucrative when realistically pricing your condo based on documented upgrades and square footage. During the summer there were six condos that closed from a low sales price of $212,000 to a high of $276,400. Victoria Falls Third Quarter Market Watch - Sold Condos reveals that the list prices vary significantly among all model condos. We conclude that the square footage and high list prices are the result of upgrades, e.g., kitchen, baths, and hardwood floors, etc. Now, here’s the condo update you have been waiting for…. Sold – 13801 Belle Chasse Blvd. #411 – List Price: $217,000. Sold Price: $212,000. Closed: July 29,2015. Seller Subsidy: $-0-. Days on market: 52. Approximate tax living area: 1,673 square footage. Sold – 13801 Belle Chasse #312 – List Price: $229,900. Sold Price: $227,500. Closed: July 29, 2015. … [Read more...]
Victoria Falls Third Quarter Market Watch – Condos
Victoria Falls Third Quarter Market Watch – Condos Listings this summer continue to be extremely robust with a growing inventory! The market continues to look lucrative for sellers when realistically pricing their condo conservatively based on relevant upgrades and square footage. During the summer there were five condos that closed from a low sales price of $212,000 to a high of $276,400. We have noticed the list prices vary significantly among all model condos and buildings. We conclude that the high list prices are the result of demand and upgrades, e.g., kitchens with stainless steel appliances, cabinets, ceramic tile baths, and the addition of hardwood floors. Victoria Falls Third Quarter Market Watch - Condos is provided as a courtesy from your neighborhood Realtors here at VF, we routinely monitor the VF housing market to update potential sellers/neighbors, potential buyers, sellers and other interested parties apprised on the market activity within the VF … [Read more...]
Victoria Falls Quarterly Market Watch – SFH
Victoria Falls Quarterly Market Watch – SFH summarizes the market activity for Single Family Home within Victoria Falls through the second quarter. Overall, there have been little inventory in SFH market since it's inception in 2005-2006. The last sale of a SFH closed at the highest sales price thus far of $448,000. Now, to the latest market data regarding Single Family Homes…… Active – 7416 Near Thicket Way, - Listed at $465,000. This SFH features four bedrooms, three full baths, gourmet kitchen and two car garage. Days on Market: 37 Active - 7401 Forest Edge Ct. – Listed at $510,000. This is a Thoreau model is the largest of the three Michael Harris Homes models available in the VF community. This SFH features four bedrooms, three full baths, two car garage with Florida/Sun Room that extend the living space to a covered patio and gazebo. Days on Market: 1 Sold – 7402 Heartleaf Circle – This Michael Harris SFH is a Hemingway model that originally listed for … [Read more...]
Victoria Falls Quarterly Market Watch – Condos
Victoria Falls Quarterly Market Watch – Condos as of June 2015, provides an update on the Condo market activity in the Victoria Falls (VF) community. As residential Realtors at VF, we routinely monitor the VF market to apprise the VF residents/neighbors, potential buyers, sellers, lookers and other interested parties on the latest market information regarding the real estate market activity within the VF community. We were fortunate to work with a buyer and seller to close on a Windsor model in building 13801 on July 1, 2015. Although, the seller listed the condo for $269,900 the appraisal came in at the contract price of $259,000. The appraised value of future condos may have to be contested to receive a higher market value. Factors such as added improvements, taxable living area and upgrades will add into future market values…Now, to the condo update you have been waiting for…. Status Building- Unit # Model List Price Closed Price/Date Seller’s … [Read more...]
Victoria Falls Quarterly Condo Market Update
Victoria Falls Quarterly Condo Market Update as of May 2015, provides an update on the Condo market activity in the Victoria Falls (VF) community. As residential Realtors here at VF, we routinely monitor the VF market to apprise the VF residents/neighbors, potential buyers, sellers and other interested parties on the latest information regarding the market activity within the VF community. As you review the property information you will start to realize a correlation in the asking prices to the specific condo model, added improvements, tax living area, i.e., interior size of living space. There were three models available to homeowners when the condo buildings were constructed. The models are the Kingston, Dartmouth, and the Windsor model. Each model vary in the tax living area. We are overly excited to report that $259,900 was the highest price for a condo thus far in the community. With no seller’s subsidy to the buyer. This is great news for potential condo sellers who are … [Read more...]
Victoria Falls Market Watch – Villa Townhouses
Victoria Falls Market Watch – Villa Townhouses as of October 16, 2014 is an update on the real estate market activity at Victoria Falls (VF) since our last edition. We monitor the VF market activity to apprise the VF residents/neighbors, potential buyers and other interested parties on the real estate market in the VF community. The asking prices vary from villa to villa, i.e. the tax living area - interior size of living space, number of bedrooms and baths, location and other added features play a role in setting the final asking price New Listing – 7101 Piney Woods Pl. – Drees end unit villa townhouse listed for $415,000. Features include three bedrooms, two full baths and half bath. Approximate tax living area 3,304. Days on market – 18. New Listing – 7218 Winterfield Ter. – Craftstar end unit villa townhouse listed for $350,000. Features include three bedrooms and two baths. Approximate living area – 1,462 sq. ft. Days on Market – 6. Listing – 7118 Piney Woods Pl. – Drees villa … [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 – 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...]