Posted: August 24, 2011 Filed under: Real Estate, Uncategorized | Tags: Cash, Down payment, FHA insured loan, Home repair, Home warranty, Mortgage loan, Owner-occupier, Renting
In most parts of the country, the housing market is good (or great!) for buyers right
now – interest rates are bizarrely low, lots of inventory means lots to choose from, and the cost of renting has increased in a lot of markets. But just because the market’s good doesn’t mean it’s the right time for everyone to buy. The decision whether to buy a home is a very personal one; you need to carefully examine your own situation to determine whether it’s right for you.So, what are the questions you need to answer in deciding whether you’re ready to buy? Here are some of the big ones: Read the rest of this entry »
Posted: August 19, 2011 Filed under: Real Estate | Tags: Ask price, Average selling price, Distressed securities, Home (sports), Price, Property, Real estate, United States
Local Market Facts fly in the Face of Recent Doomsday Articles.
Good news is boring. Really?
I heard a report on the radio this morning that our prices have fallen 17% from this time last year. The radio voice seemed to enjoy spouting the news as if he were reporting the score of a blowout football game with the home team up by 48 points – and climbing- in the 3rd quarter. Bad news sells. This I understand. What I also understand is that this is not the news that matters. Behind that sad average are lots of unreported truths that indicate our real estate market is healing. Read the rest of this entry »
Posted: August 19, 2011 Filed under: Real Estate | Tags: Bridal registry, Down payment, Employment, FHA insured loan, Funding, Loan, Roth IRA, Traditional IRA
Image by epSos.de via Flickr
Most home buyers’ biggest hurdle is coming up with the cash for a sensible down payment. Gone are the days of zero-down loans, so if that was your plan, you’re going to need a new one! Coming up with a down payment for a home is a challenge because it’s not chump change we’re talking about, here. The down payment on a $200,000 house, for example, will run you anywhere from $7,000 (on an FHA loan) to $40,000!That might seem like an insurmountable amount of coin to come up with, but it’s actually more doable than you might think. Some buyers will simply save up their own cash, even if it takes many, many moons. The good news is that if you still need some help to boost your down-payment savings, there are resources you can harness to power your home-buying pursuit: Read the rest of this entry »