The Better Home Value... Low prices or Low rates?
If you are preparing to buy a home, you might be trying to perfectly time the market and wait for prices to inch just a little lower. We all want a good deal. Agreed. But could waiting for home prices to fall actually cost you more? Yes, it is possible and if you wait much longer, it’s highly likely.
Most prospective buyers watch what home prices are doing but don’t keep an eye on mortgage interest rates. In the blink of an eye, you could pay anywhere from $30,000 to $100,000 or more in higher monthly payments if mortgage rates sneak up just one or two percent.
I live in Florida and the real estate market here is very different today than this time last year. The inventory of homes available is dramatically lower, prices are showing steady months of increases and the “days on market” as reported in the multiple listing service (MLS) has reduced.
THE 12 MORTGAGE DO’S AND DONT’S
So you found your dream home and have secured a mortgage pre-approval. Congratulations! You are nearing the finish line of becoming a homeowner. It’s so exciting right? Proceed with caution, that approved status can slip away with just a few wrong moves. Don’t get caught in mortgage pre-approval bliss and start spending, iIt’s those good habits that ensured you got the mortgage in the first place.
Here are some do and do not’s to make sure you stay on track from now until closing.
Written by: Elizabeth Porter
Buying a home is a life changing experience. Not only are you achieving "The American Dream" but you are increasing your net worth and financial independence. What comes first, finding a home or finding a loan?
There are benefits to getting approved first. One is that you are shopping in the correct range of prices. No one wants to drive and fall in love with the Mercedes but find out a Hyundai is more in their budget.
This tax season can change your life 
by Andy Jansky & Maribel Maldonado
Homeownership is a dream that many will be able to make a reality this tax season.
Did you know?
There are lots of low and no down payment finance programs available that can help homebuyers like you purchase a home with as little as about $500 out of pocket? From 100% financing with USDA (in approved areas) and VA to down-payment assistance programs and low down-payment financing with FHA.
Written by: Elizabeth Porter
Tax time is here! If you bought a home before December 31, 2011 there are several opportunities to maximize deductions and get money back when you file your taxes.
The difference for homeowners doing their taxes for the first time compared to when they were renters is usually claiming an "itemized deduction" versus the "standard" deduction.
A tax professional can always give you the best advice but here are a few pointers to get you started.
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Elizabeth PorterGeneral Manager-Florida |
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