What do buyers want in a property when they are purchasing their home?

Thinking about improving your home?  Why not do it now and enjoy the improvements until it comes time to sell your home?  I have noticed that a lot of  homeowners improve or do updates to their home when they are planning to sell. Yes, it will make the home more valuable but they didn’t get to enjoy the updates.  If you’re planning to sell in the near future, there are a few things that could make your home more valuable and try to enjoy it before you sell.

 

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How is Europe?

If you think we’re the only country facing problems, then you haven’t been paying attention to our other neighbors in Europe.  They are experiencing economical problems as well!!  In fact, their problems do help our country but it could be a sign of what can happen to the U.S.. 

If we can’t stop our spending and fix our current problems, we will be creating an economical monster for our children.  This beast will not be easily defeated.  As our problem debtors become larger (the beast), the REO housing inventory becomes larger, and will take more time to be sold off.    

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Is the market recovering?

Home sales rose slightly last month.  This is the sixth month in a row that home sales have increased.  Lawrence Yun, NAR chief economist, says “We’re clearly on a recovery path”.  This is a good sign and sales should continue to increase. 

There are all types of buyers out taking advantage of the market.  First time buyers purchased 33% of homes sold in March and all cash buyers purchased 35% of the homes sold, for example.  With the market current market conditions, it makes more sense to purchase a property then renting.       

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Improve your credit scores

Thinking of taking the pludge and make one of the biggest purchase in your life?  Unless you have lots of cash, you’re probably going to finance the purchase.  A big part of procuring a loan at the lowest interest rate posible is to have a good credit score.  There are some things that you can do to improve your scores.

1/3 of americans can not qualify for a mortgage because of their credit scores.

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HR 5028, homeowners remain as renters

Where do you go after your home is foreclosed upon by the bank?  Your credit is a mess and you may not make as much money as before, so where do you go?   

The Center for Economic and Policy Research has a report, “The Gains from Right to Rent in 2010”, and has suggested to allow homeowners the right to rent their home, after foreclosure.  By doing so, it may address the nation’s foreclosure problem. 

HR 5028, under Right  to Rent legislation, would allow the foreclosed homeowner to stay in the home as a renter for a substantial period of time.  This would help the homeowners from being homeless and it will help the communities that are experiencing high numbers of foreclosures.

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10 tips for your home remodel project

Are you thinking about updating or remodeling your home?  Well, it can be an overwhelming task especially when you’re thinking about doing it your self.  When the job becomes a major project, then you may want to hire a contractor to help you with your project.  Like every industry, there are good ones and bad.  You need to know what to ask when you interview them for the job; things like asking for referrals, or copy of their insurance coverage, or even if they clean up after themselves when they are done for the day.  Here are 10 tips to refer to when you are planning to make changes to your home. 

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6 reasons to shop around for the best interest rate available!

Everybody has gone shopping for one thing or another so this should apply to mortgage loans too.  By taking the time to shop around for the best rates available, you could be saving thousands of dollars during the life time of the loan.  So it pays to be aware of the cost associated in obtaining a loan.  Not to mention, you will be more confident about affording and purchasing that home that says “buy me”. 

After all, purchasing a property could be the most expensive thing you buy in your life time.  Why not take the plunge now?  With the lowest interest rates ever available and lots of homes to choose from, plus slow economic recovery of the market, this is the best time to do so.

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$3 Billion more to help homeowners

Our government has said they would spend another $3 billion to help homeowners keep their home if they lost their job or have a medical condition that reduces their ability to work. Eligible homeowners could receive a no-interest loan up to $50,000 for as long as 24 months and stay in the home.  This program is to prevent further home foreclosures, but will it help and make a difference? According to RealtyTrac, foreclosures have increased 8% to $1.65 million in the first 6 months of this year with the current programs, so will this help or are we digging a bigger hole in the money pit for the next generation to cover? I hope it does help and get us out of this mess. However, it’s going to take some time to see if the extra money spent will make a difference, but at least, the government is trying to help people keep their homes.

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Does it sound like it is too good to be true?

Beware!! There are predators out there and they will take advantage of people in time of need. It is unfortunate, but be aware. When looking for help, just be careful when you make a commitment.  There are scams out there.

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Did you know FHA loans are assumable?

FHA loans have been around for a long time, however, it is more popular these days then ever before. Borrowers can qualify for a loan with as little as 3.5% of the sales price.  Here are some things to know about these types of  loans. With the way the economy is today, these programs can help you.

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