Every Renter Should Know

Posted Posted in real estate, Rent versus Buy

The first home purchase can be the culmination of years of planning and consideration. Buyers typically look for 12 weeks and use a variety of information sources for research before purchasing. However, many renters are not near as thorough in their study. Like any other commitment a person makes, careful consideration and understanding is required. […]

15 Will Get You 3

Posted Posted in mortgages, real estate

Freddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term. However, for those who can afford a higher payment, there are three additional reasons to choose a 15 year term: save interest, build equity and retire the debt sooner. First-time buyers have […]

Make Good Offers Better

Posted Posted in real estate

It’s disappointing, frustrating and sometimes, discouraging when you lose a home you want to buy. One of the hardest lessons for today’s buyers is that writing an offer doesn’t mean that you’ll get the home or even a counter-offer. The low inventory affecting many of the housing markets requires a different strategy to give you […]

An Unexpected Expense

Posted Posted in real estate

In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected. Private mortgage insurance is required on loans that exceed 80% of the home’s value. For conventional loans, the premiums range from 0.5% to 1% annually. The PMI could […]

What IS a Seller’s Market?

Posted Posted in real estate

It is generally considered a seller’s market when the conditions favor the seller. This condition exists when demand is high and supply is low without any significant adverse economic conditions taking place. Demand is determined by ready, willing and able buyers. Low interest rates with indications that they will begin to rise fuels part of […]