Home Buying and Home Selling Tips » Home Buying Advices

Owning a Home and the American Dream Go Hand in Hand

varac — Wed, 08 Feb 2012 09:50:59 +0000

Due to the housing market downturn that began in 2007, current and future homeowners are facing many obstacles. The thought of homeownership seems to have left many wondering if the American Dream still exists. Proposed new rules may require eligible borrowers to put down 20% before a mortgage lender qualifies their home loan, and limit them to mortgage payments that are no more than 28% of their gross income. Current homeowners may also face a new hurdle, as some lawmakers are proposing to remove the mortgage interest tax deduction. These and other proposals could jeopardize not only a consumer’s ability to purchase a home, but also a homeowner’s ability to stay in their home, both of which would negatively impact a housing recovery.

Full story is available on Market Watch

Home Buyers Workshop Feb. 11

varac — Wed, 08 Feb 2012 09:47:14 +0000

11:00 a.m. to 2:00 p.m.

Exit Right Realty

8730-16 Cherry Lane, Laurel, MD 20707

(In Cherry Lane Business Park, 1/2 block from Laurel Mall right next to CubeSmart storage)

Full story is available on washingtoninformer.com

Online tool helps renters see if buying is affordable

varac — Wed, 08 Feb 2012 09:44:30 +0000

Many renters dream of taking the money they spend on rent and using it for mortgage payments.

But there’s a lot more to buying and owning a home than just paying the mortgage.

Many renters dream of taking the money they spend on rent and using it for mortgage payments. But there’s a lot more to buying and owning a home than just paying the mortgage.

Full story is available on altonaecho.com

Brokers Can Offer Valuable Insights When Buyers Search For Homes

varac — Tue, 07 Feb 2012 03:49:32 +0000

The NY1 Real Estate report recently offered tips on what sellers need to know when hiring a broker. But buyers looking for a broker need a whole other set of things to keep in mind.

First, many people do not realize that when they hire a buyer’s broker, that person works for the buyer but the buyer does not pay the commission.

Full story is available on NY1 Real Estate

Biggest homebuying slumps? Middle of O.C.

varac — Tue, 07 Feb 2012 03:38:18 +0000

Orange County housing hot spots are near the beach.

For the 22 business days ending Jan. 19 – freshest numbers from DataQuick — our region-by-region analysis of local real estate trends finds Orange County homebuying slicing up by geography this way …

Full story is available on OCRegister

Many homeowners decide remodeling is wiser than moving

varac — Tue, 07 Feb 2012 03:21:56 +0000

Do you fit any of these descriptions?

You came through the housing bust and recession far more debt-averse than you were before.
You’ve been reluctant to consider selling your house because you don’t believe you’ll get what it’s really worth.
Buying a new home is out of the question, even with today’s low interest rates, because it’s so difficult to qualify for a mortgage.

Full story is available on Los Angeles Times

Homebuyers should review preliminary title report

varac — Mon, 06 Feb 2012 04:51:39 +0000

Q: My uncle recently bought a foreclosed home and now we read about the illegal robo-signing. Is there a chance that my uncle might have his house taken back?

– Pam M., Las Vegas

A: This is a good and increasingly common question. With all the discussion and news coverage surrounding these so-called robo-signing scandals, there’s no doubt that this is a serious issue for us here in Nevada.

Full story is available on Las Vegas Review Journal

4 steps to buying a house in 2012

varac — Sat, 04 Feb 2012 06:59:10 +0000

Let me count the ways — I mean, the things — you can and should be doing now if you want to buy this year. The recession has done lots of favors for buyers-to-be, including dropping prices and interest rates to bargain levels. But it has also created a lending and housing market climate in which loans are tough to get, tensions about buying into a down market run high, and transactions are harder and longer to close than they have ever been.

If I were talking to a friend who wanted to throw a New Year’s 2013 party in her new home, here are the things I’d tell her to do, stat:

1. Fix credit problems. More deals than ever are dying on the vine, and credit problems are a top reason home-sale transactions fall out of escrow.

Full story is available on inman.com

What to consider when buying a new home

varac — Fri, 03 Feb 2012 04:00:46 +0000

The flip side of the depressed state of the housing market is that new buyers or those upgrading may find great bargains.

Given that buying a home is one of the largest financial decision most families will make in their lifetime, it is important that you give plenty of thought before making a change.

Full story is available on kare11.com

4 tax breaks for homeowners

varac — Fri, 03 Feb 2012 03:53:58 +0000

There are two things you can count on when you become a homeowner: You get more tax breaks, and your taxes get more complicated. Whether you’ve purchased a single-family home, townhouse or condominium, tax breaks are available to you.

It’s time to get familiar with Form 1040 and Schedule A, because that’s where you will have to provide all the details about your new tax-deductible expenses.

Full story is available on MSN Money