 Category :: Real Estate Articles |
Author :: David McGuire  |
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| Article Title :: First Time Home Buyer Sells the Starter Home |
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| It’s possible. Your first home could be your dream home. But, for most folks, the first home is a starter home. Starter home implies that you are not going to spend the rest of your life in that home. It implies that you plan on selling that home, probably sooner than later, and buying another home. Perhaps, bigger, more expensive, and with a larger back yard. And guess what? You are going to want to sell that starter home for a much as you can. So, where am I leading you, where is this road going?Let me start with a few overused, but true, expressions. Beauty is in the eye of the beholder. One man’s trash is another man’s treasure. Not everyone has the same taste in (read full article) |
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| Category :: Real Estate Articles |
Author :: Helena Hill |
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| Article Title :: Mortgage Loan Lingo |
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| Understanding real estate and mortgage terminology is of utmost importance when buying a home. The vocabulary will become second nature the more you are involved in real estate transactions. For the pros and loan officers, it’s daily language.This is a quick reference of mortgage dictionary words. Sit down and read each description and become familiar with the words. Then, in a few weeks, you can “talk the talk” and be familiar with the meaning of each word.Escrow Account: A financial account, separate from an operating account, maintained by a title company for the benefit of the parties to a real estate transaction.Federal National Mor (read full article) |
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| Category :: Real Estate Articles |
Author :: Carrie Reeder |
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| Article Title :: Foreclosure Listings - Places to Find Foreclosure Listings Online |
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| Finding a reputable list of foreclosed homes online has never been
easier. If you are hoping to purchase an inexpensive home, a foreclosed
property may be the answer. Each year, millions of homeowners fall on hard
times, which make them unable to maintain regular monthly mortgage
payments.Once a homeowner defaults on their mortgage, the bank will foreclose
the property and resell it at wholesale cost. If purchasing a foreclosed
home, you can save tens of thousands of dollars. Here are three places
to find foreclose listings online.Check Inbox for Foreclosed ListingIf you have an email address, you are likely bombarded with junk mail
on a daily b (read full article) |
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| Category :: Real Estate Articles |
Author :: Carrie Reeder |
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| Article Title :: Free Foreclosure Listings - Can You Find Good Foreclosed Homes on Free Lists? |
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| Locating a reputable free list of foreclose homes is challenging. Real
estate investors earn the bulk of their income by purchasing homes
cheap and selling them for a profit. Thus, foreclosed properties are in high
demand. If buying a bank-owned or foreclosed home, you can expect to
save 20 to 50%. The problem lies in accessing a list of foreclosed
properties. Several websites offer listings, however, a subscription fee is
required. While some websites will advertise free listings, there are
advantages and disadvantages to these types of listing services.Free Foreclosed Listings Come with a PriceIf searching for a free online listing of foreclosed homes, (read full article) |
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| Category :: Real Estate Articles |
Author :: Ron Victor |
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| Article Title :: How to Sell Your Home Fast |
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| A home is a personal and financial benefit. Buying or selling a house goes with it a lot of pre determined thoughts, plans and emotional factors. People sell houses because of various factors. They might need immediate cash because of certain unavoidable circumstances, family problems, foreclosure, relocation, bad tenants, repairs or damages etc. However pre planning is done on the issue of selling a house, it usually ends up in a situation of urgency for cash. So, the factor that rules high is definitely cash and fast cash.The same happens with regard to buying a house. May be because of the sudden closure of selling one’s own house, or various other factors, you may be in a hur (read full article) |
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| Category :: Real Estate Articles |
Author :: Luigi Frascati |
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| Article Title :: Referential Offers |
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| It is not inconceivable, when marketing a property in an environment of multiple offers, that a Seller might come across what it is generally referred to as a ‘referential purchase price offer’. A multiple offer situation arises when a subject property is simultaneously appealing to multiple Buyers, which then proceed to submit their respective bids. As Buyers are unaware of the price and terms of competing offers, a referential purchase price clause may seem like the optimal solution – but,in fact, it is not.The thrust of the referential purchase price offer is to piggyback on the next highest bona fide offer that is acceptable to the Seller. The offer contains a clau (read full article) |
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| Category :: Real Estate Articles |
Author :: Martin Lukac |
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| Article Title :: What is a Second Trust? |
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| There are cases when a home does not appraise for the contract price, especially when a bidding war results in high offers. Your real estate agent may have mentioned that the potential buyer is asking for a second trust. What does this mean?Many lenders will not loan on more than 80% of the appraised price of a property. If the property appraises for less than the contract price, the borrower must often find a way to make up the gap.For example, the contract sales price on a property is $300,000. The purchaser is originally looking at a loan in the amount of $240,000, 80% of the purchase price. The appraisal only came in at $275,000. The lender will only lend 80% of the appr (read full article) |
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| Category :: Real Estate Articles |
Author :: Martin Lukac |
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| Article Title :: Challenging a Low Appraisal |
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| Whether you are buying or selling a home, the appraisal is a very important aspect of the transaction. You can't wait to hear if the home appraised for the contract price.What happens when an appraisal comes in lower than the purchase price? If your buyer gets an appraisal lower than the sales contract, the buyer has a number of options.Let's say that the sales price is $300,000, and the buyer is obtaining an 80% loan of $240,000. The cash difference between the loan amount and the sales price is $60,000. The house must appraise for $300,000 of more so that the lender will loan the 80%.If the house only appraises for $280,000, the lender will only lend on 80% of the h (read full article) |
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| Category :: Real Estate Articles |
Author :: Martin Lukac |
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| Article Title :: Is a Condo Right for You? |
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| Condos offer an affordable alternative to buying a house, at often half the price of a single family home. Before you buy one, you should be extra cautious.In some areas, construction-defect litigation is rampant, sale disclosures are troublesome and new and confusing laws are often enacted, and frankly, you have to be a little tough to live in such close proximity with your neighbors... and their newborn baby.Condominiums are typically high-density housing constructed as what's known as common interest developments. You own everything on your side of the walls of your unit. You become a shareholder in the remainder of the buildings, grounds and other facilities. As a shareh (read full article) |
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| Category :: Real Estate Articles |
Author :: Martin Lukac |
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| Article Title :: What is Fair Housing? |
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| You may have heard the term "fair housing", but what does it mean? What are your rights as a renter or homeowner, and can you defend yourself if your rights have been violated?The Fair Housing Act is enforced by the U.S. Department of Housing and Urban Development. It bars discriminatory practices in housing related to race, color, national origin, religion, sex, handicap or familial status. It includes pregnant women and those with children under the age of 18.The Fair Housing Act doesn't just apply to apartment buildings. It applies to the majority of housing in the United States. There are some exceptions, such as single family homes sold or rented without a broker, priva (read full article) |
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