New Construction Purchase: Interest-Only Loan Or Adjustable Rate Mortgage?
Which is better when buying new construction: an interest only loan or an adjustable rate mortgage? Interest-only loans are a good option for very short-term circumstances, because the interest may be higher than an arm mortgage. An ARM mortgage to help the new construction home build equity.
Purchasing Vacation And Investment Properties
The National Association of Realtors recently released a new study that looks at the vacation and investment home markets. Last year, 40 percent of all homes bought were vacation homes or investment properties. There is a clear distinction between the people who buy vacation homes and those who buy…
Real Estate Investment: Property Value Of Buying Vacant Lots
Vacant lots can be a good real estate investment depending on the surrounding neighborhood and how it affects the property's value. One thing to be aware of when buying vacant lots as a real estate investment is to check out the zoning laws and what you're allowed to build on the property. Buying…
After Bankruptcy Discharged, Home Buyer Considered First Time Home Buyer For Mortgage Purposes
Once a bankruptcy has been discharged, a potential home owner is considered a "first time" home buyer again when applying for a mortgage. A bankruptcy free potential home buyer should check into first-time home buyer programs that might be available to help with mortgage loans. Even as a first time…
Buying A Home: Pitfalls Of Waiting For Housing Markets To Cool
Should you wait on buying a home until the housing market cools?. Just because the housing market cools, doesn't mean that property values drop, and buying a home may cost more. If you know where you want to live and can afford to buy a home, there's no reason to wait for the housing market to cool…
Handling Litigation With Builders
These home buyers bought a newly-built house from a builder and paid extra to construct large retaining walls around the backyard to keep it in shape. The city has now told them that the fence is too high and violates the law and will have to either be torn down moved several feet from the property…
Fighting Homeowners Association Lawsuit Requires Attorney
How can you find a trustworthy attorney to help with a homeowners association lawsuit? Ilyce suggests contacting a local bar association or asking friends and family for recommendations. You can also contact an attorney who specializes in a different area of law and ask who he or she suggests…
Home Buyer Finances Property Bought For Sale By Owner Through Seller
A home buyer bought property for sale by owner and wants to know how much to expect the seller to charge for interest, and for financing. Ilyce suggests hiring a real estate attorney to make sure the sale by owner proceeds smoothly and the home buyer gets charged a fair price. Ilyce also suggests…
How To Help Family Invest In Real Estate
A father is purchasing real estate with his son by loaning him money for his down payment and wants to know how to determine the return on investment for the father. The father and son should sit down and talk about the purchase to ensure they both know what roles they are playing. A real estate…
Real Estate Profit: Where To Invest The Money
If you don't plan on putting the profit from a real estate sale into another property, where should you invest the money? First, you have to separate the actual profit from the sale of the real estate, from the taxes you may have to pay. After determining how much profit you made from your real…
Build Good Credit To Buy A Home
To buy a home or refinance your mortgage you have to have good credit. To build good credit you need to have good personal finance habits such as paying your bills on time. What can you do in 2009 to build good credit so you can buy a home or refinance a mortgage? Read Ilyce's personal finance…
Buying A Home For Sale By Owner Safely
There are several things to be aware of when buying a home that is for sale by owner. One of the first things to do when considering whether to by a home for sale by owner is to make sure the house is fairly priced. But one of the most important things when considering whether to by a home for sale…
How can you divide a lot into smaller lots in order to sell? This can be a complicated process. First you need to determine the zoning classification for your property, along with any requirements or restrictions for your property. You may also have to pay attention to subdivision ordinances. To…
Flipping Real Estate Property: Options Include 1031 Exchange And Paying Capital Gains
There are several decisions to make when flipping real estate - should you pay capital gains tax or should you apply for a 1031 exchange, borrow against the property and keep the land. Having to pay capital gains tax may be a factor in a property owner's decision to keep the land and apply for a…
Home Improvement Projects Important Prior To Selling Home
How much work should you do on home improvement projects prior to putting your home onto the market? Making a few simple home improvement projects a priority before selling is a must. By doing basic things before selling, and making your home look as fresh and neutral as possible, you'll not only…
Even if your real estate agent knows how much the lender will allow you to spend, it's up to you to stick to your budget. If a real estate agent doesn't respect how much you'd like to spend, it might be time to find another agent. If you're looking for a home on state lines, you'll want to know…
Home Buyer Real Estate Advice: More Questions To Answer Before Buying A Home
Every home buyer should ask questions before buying a home. Make sure potential home buyers to check out the local economy and the neighborhood before buying a home. Potential home buyers should look at the negative aspects of a specific piece of real estate and think about what they are willing to…
Professional Home Inspectors Save Home Buyers Future Grief
Home buyers should spend the money and hire a professional home inspector before buying a home. A professional home inspector have a better chance of finding flaws that the seller may omit on a seller disclosure form, leaving the home buyer with additional expenses in the future. Home buyers who…
Selling Property Or Reverse Mortgage
When siblings inherit a home together they may want to sell the property and cash out. Can one brother live at the property with a reverse mortgage and the other siblings still cash out? One family considers getting a reverse mortgage or home equity loan to meet the needs of all involved. Ilyce…
Purchasing foreclosure homes can be a smart move but there are some drawbacks. People typically don't buy foreclosures because they're tough to find in the neighborhood in which you might live and because they typically need a lot of work. Buying a foreclosure home can also be a long process, and…
Home Buyer Incovenienced By Seller Living In Home Past Closing
Home buyers must make sure the seller has vacated the home by the closing and before money exchanges hands. Otherwise, the home buyer may be inconvenienced by a seller who does not act in good faith and may try to stay in the home past closing. Home buyers make themselves financially vulnerable if…
Location, Location, Location Still True For Home Buyers
When you're buying a home it's really important to pay attention to what's located near and around the property. Facilities such as homeless shelters may deter future home buyers from buying your property. In addition if a business next door to the property you're buying has a lot of traffic that…
Build Real Estate Business By Networking
A real estate agent wants to build his real estate business as a buyer's broker. Ilyce tells the agent that in order to get interested in your real estate business, you have to give back first. Ilyce suggests the agent volunteer with local organizations or sponsor a kids little league team to get…
Home Buyers Could Get Tax Credit
If you're a first time home buyer or other home buyer you may be able to take a tax credit of $7,500 to $15,000 on your home purchase, if you live there for at least two years. Congressional leaders believe this tax credit for buying a home will help stimulate home sales and grow jobs. But what…
HOA Charges Special Assessment For Water Damage
What can you do when you have to pay a special assessment to your homeowners association (HOA) for water damage? Are the condo sellers liable for telling you about the water damage prior to sale? How can you find out if you're at risk for special assessments prior to buying a home with an HOA?
