If you have been looking for a new home, and you find one offered under a short sale, this may be to your advantage. While some buyers are wary about buying a home that needs to be sold with the approval of the lender, it's a great way to get a bargain on a home that you love. A short sale may be a perfect way to buy a home, as long as you are able to wait until the offer is approved. The Basics Of A Short Sale A short sale occurs when the homeowner is facing a foreclosure and trying to avoid it. The true owner of the property, is the lender who provided the money to purchase the home. The … [Read More...]
Buying a new home is exciting. Buying a brand new home can be even more so with the realization of being the first owner and possibly being able to choose your own layout and finishes. The prospect of owning new construction is definitely exciting, but it doesn't come without its own set of questions. If you're in the market for a new home, and considering new construction, make note of the questions below when you begin your property search. What are the long term plans for the community? Unless you're looking at custom homes on acreage, it's likely new construction in your area will be … [Read More...]
The drama of home and garden TV shows may be fun to watch, but no matter what you think, reality shows are not at all like real life. If you think it's easy to buy a house that needs updating and turn it quickly for substantial profit, you might want to think again. That doesn't necessarily mean, though, that you should shy away from the idea of buying a "fixer-upper" -- just that you should approach such a home purchase with eyes wide open. Here are some valuable tips: Buying a house that needs cosmetic updates can make financial sense, particularly if you're handy with a paintbrush, … [Read More...]
Buying a property out of foreclosure can be a very smart move, financially. But it can also be complicated, expensive, and stressful. Here are 5 things to keep in mind before you take a first step in that direction: Cash Or Preapproval Required Buying a house that has been returned to the lender through foreclosure means dealing with bureaucracy rather than with a motivated seller. Large lenders are notorious for taking their time to approve a contract, even if the offer is for the exact amount specified. Then there's the paperwork, which can seem endless. Most lenders require that … [Read More...]
Last week’s economic reports included analyst assertions that U.S. housing markets are overvalued in over 50 percent of markets. Weekly reports on mortgage rates and first-time jobless claims were also released. CoreLogic: Over Half of Top 50 U.S. Housing Markets Overvalued Rapidly rising home prices are causing some U.S. markets to be overvalued, which means that home prices are higher than a community’s ability to sustain. What goes up must come down in such scenarios, but home prices continue to grow in many areas. While Boston, Massachusetts and San Francisco, California … [Read More...]
It pays to start with a solid strategy when you have to house hunt from afar. Hunting for a house is stressful enough even if you are moving to another part of town. However, when you are searching for a house from afar, it can make the task of finding the right home for your needs seem almost impossible. Fortunately, in today's high-tech world, you have an array of tools available right at your fingertips that can make it easy to find the perfect house for your needs. So, even if you are looking for a home thousands of miles away, you can do so quickly and with minimal fuss. Partner … [Read More...]
For many Americans, retirement age is fast approaching or already here: Baby Boomers account for nearly 75 million individuals in the United States. Retirement can present a lot of opportunities, especially when it comes to relaxation, activities, and the enjoyment of life with those of a similar age. More and more Americans are looking to 55+ communities to fulfill those wants and needs. Active Adult Communities 55+ communities, also known as an active adult or age-restricted communities, are becoming increasingly popular throughout the U.S. because of what they offer and can provide. … [Read More...]
On the surface, a short sale seems like the perfect deal. However, before you take the plunge, you need to understand how this type of home purchase works. What Is a Short Sale? A short sale is a home sale in which the homeowner is selling the home for less than he or she currently owes on the mortgage. In most cases, this means that the buyer is paying less for the home than it's worth, which leads to instant equity. Short sales allow homeowners to get out from under mortgages without damaging their credit as much as a foreclosure. Lenders often agree to short sales because the foreclosure … [Read More...]
