Buying a home? You don’t need to do it alone.

Last week, Discover Home Loans released an interesting survey which revealed how prepared home buyers are for the actual mortgage process. The survey reported that 94 percent of prospective buyers believe they are making a good investment decision if they buy a home. The survey also explained that … [Read more...]

Mortgage Rates Move Lower Again

Fixed-rate mortgages inched lower again this week, lowering borrowing costs for home shoppers and refinancers. Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 30: 30-year fixed-rate mortgages averaged 4.32 percent, with an average 0.7 point, … [Read more...]

Sales Prices – Get it right the first time

Are there undesirable effects from changing the listing price of a home? Findings seem to indicate that, on average, properties that undergo a listing price change take longer to sell and experience pricing discounts greater than comparable homes. Likewise, homes with price changes are found to go … [Read more...]

Things you need to know from your Listing Agent

Are you thinking of selling your home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the … [Read more...]

Do-Nots Before Buying a Home

Lenders will review loan packages prior to approval and the main factors they are concerned with are the source of funds for down-payment and closing costs. Almost certainly, they will ask for the last two or three month statements of assets. These include checking accounts, savings accounts, … [Read more...]

Determining how much home you can afford, with Debt to Income Ratios

Lenders determine maximum mortgage amounts using guidelines titled debt-to-income ratios. They calculate it by using a percentage of your monthly gross income, before taxes, that is used to pay monthly debts. There are two calculations, a "front" and "back" ratio, written for example in the … [Read more...]

Getting your House, not your Home Ready to Sell – Disconnect Your Emotions

When real estate agents work with buyers frequently you will hear them talk about purchasing a "home." But on the other hand when working with sellers, agents frequently refer to it as a "house." The reason for this is because real estate decisions are usually emotional, so when selling, it is best … [Read more...]

Foreclosed Home Owners Return to Market

According to a poll of 140,000 LoanSafe.org members, boomerang buyers – who were ousted from the housing market due to foreclosures or short sales, spent years renting to rebuild their credit, and have saved enough to buy again – are now expected to help turn the real estate market … [Read more...]

Existing-Home Sales Decline in November, but Strong Price Gains Continue

Existing-home sales fell in November, although median prices continue to show strong year-over-year growth, according to the National Association of Realtors®. NAR's chief economist, said the market is being squeezed. “Home sales are hurt by higher mortgage interest rates, constrained … [Read more...]

Harvard: 5 Financial Reasons to Buy a Home

Eric Belsky is Managing Director of the Joint Center of Housing Studies at Harvard University. He also currently serves on the editorial board of the Journal of Housing Research and Housing Policy Debate. This year he released a new paper on homeownership - The Dream Lives On: the Future of … [Read more...]