Month: March 2016

For Most Americans A Home Mortgage is Their Largest IOU

Manage Your Home Mortgage as Part of Your Debt Service Qualifying for a home mortgage has several factors. Chief among them is income. Sufficient income that often comes from having a job for more than two years. You’ll need your payroll check stubs to validate your income. You may even need a copy of your income taxes over the last two years. If self-employed, you’ll absolutely need two years tax returns plus other financials such as a P&L. Your credit score is a significant component to securing a mortgage and a favorable interest rate. You more than likely will...

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Home Inspection & Appraisal Can Make or Break the Sale

For Most Americans Their Home is Their Only Real Estate Asset Buying a home for the right price is an art form and not a do-it-yourself activity. You want to engage a top real estate professional who knows the market, the true value of the home, the potential of the neighborhood and, in the end, is a proven negotiator. To start the process, you must first choose a wise lender and get pre-approved, rather than pre-qualified. The difference is your lender has gone beyond opinion, based on your oral interview, and has fleshed out your financial situation in order...

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Selling Your Home for the Most Money

Sometimes You Have to Spend Money to Make Money Before you spend one dollar on home improvements, engage a reputable real estate agent who knows what cosmetic changes, maintenance or renovations give you the best return for your money. While you’re going through the vetting process of hiring a real estate agent, do what you can do; de-clutter. Give unneeded furniture, appliances and clothing to family, friends and charities. If they don’t want your stuff, try holding a garage sale or selling it on Craigslist, as rooms stuffed to capacity look small and unappealing. By creating room in your...

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Your Home:: A Roof Over Your Head & An Asset in Your Portfolio

How to Prepare for a Home Inspection & Appraisal An expert realtor knows the market. They know what it will cost them to market your home and how long it will take to sell. You should interview several agents and vet them online to determine how they will represent you in the market. Often times there’s an unrealistic sale price the homeowner has in mind that is too high for the neighborhood and will generate little interest for homebuyers; a good agent can help escort the homebuyer to a reasonable opening sales price that will generate activity and sell...

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To Rent or To Buy? – That is the Question

Is Owning a Home the American Dream of the Past? If the economic value is the only determinate, then the math should win the day. Assuming that most Americans can’t afford to purchase their home with cash, a mortgage is a necessity. Whatever type of mortgage you have, you’re paying interest, and because you own real estate, you’re paying property taxes. Both mortgage interest and property taxes are deductible. The higher your effective tax bracket, the more these deductions matter. There are also tax deductions on certain closing costs that can mitigate the front-end cost of buying a home....

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