Renting vs Home Ownership
Are you a Renter wondering about the benefit that can come from Home Ownership? Here’s some things to consider:
(1) Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.
(2) Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS found that a typical homeowner has approximately $50,000 of unrealized gain in a home....
Read more
Read more | 0 comments
|
Link directly to this article.
Sunday, February 15, 2009
10 Reasons to Forget being a FSBO
If you are considering selling your home you have many choices available to you. There are a multitude of options as there are real estate agents to present them. One alternative that some people find enticing is the “For Sale By Owner” or FSBO option. This avenue is chosen not because people want to play “real estate agent”, but because the thought of saving a 6% sales commission is worth the risk, compared to the perceived benefit they would receive working with an agent.
When I hear “We might just sell it ourselves”, I have a list of questions I ask the seller. If you can successfu...
Read more
Read more | 0 comments
|
Link directly to this article.
Sunday, February 22, 2009
Understanding Points
Often home buyers who are obtaining a mortgage for a newly purchased home, will ask their GreatWest GMAC Real Estate Professional, “What are points?”
The answer - Each point or discount point, as real estate professionals and mortgage lenders often refer to them, are equal to 1% of the loan amount. For example, on a $100,000 loan, one discount point equals $1,000. And ½ discount point for the same loan would be $500.
Points are paid to a lender at closing in order to lower the mortgage interest rate. Although “discount points” are a part of your closing costs, they are no...
Read more
Read more | 0 comments
|
Link directly to this article.
