The poor housing market has lead to record lows in many markets regarding home prices. As a result, many people are trying to decide if it is the right time for buying a home. Low prices should not be the only factor in the decision-making process when taking on a huge investment like buying a [...]
Finding a dream home is no easy task. A home at the right price, with the right features, and in the right neighborhood can take weeks or months to locate. Once the buyer does find the right place there is one more step that should be taken to ensure it is the “right” home. The [...]
When searching for a home, it is important that home buyers start by searching on the internet to get a feel for what they are looking for and what areas they are interested in looking. They should make a list of these homes and then do a drive by viewing of the homes. A drive [...]
Once a buyer has found the house of his or her dreams, it is time to make an offer and get down to buying a home instead of looking for one. If the buyer’s offer is accepted, then a contract will be signed by the buyer and seller of the home. This contract needs to [...]
Whether buying a home or selling one, the housing market has definitely changed over the last several years. The meteoric rise in prices followed immediately by a titanic plunge has resulted in a turbulent market. Many home owners now find themselves at the verge of foreclosure, and even more find themselves under water on their [...]
In tight times like we are currently going through, there is a definite urge for many to save money at every opportunity. In most cases, this is a good thing; we eat out a little less or walk instead of drive when we can. But, there are instances when we should spend a few extra [...]
The key to finding that house of your dreams or that perfect investment property is “do your homework!” Good solid research is essential in making informed decisions regarding real estate. This is especially true in today’s housing market. It seems like things are improving, but fear of the unknown can paralyze us from making a [...]
The past few years have been very tough on many families and many communities. Nearly every city and state was affected one way or another. For most places, the housing market took the biggest hit, and prices seem to continue to go down on a monthly basis. There are only a few places across the [...]
Bob Hope once said, “A bank is a place that will lend you money if you can prove that you don’t need it.” Maybe that explains why more and more home buyers are turning to their loved ones, for help with financing. If done right, tapping the “Bank of Family and Friends” can be financially [...]
Previous generations had a goal to own their own home completely, with no mortgage by the time they hit retirement age. That is still a valuable goal today, at least with the older generation. Younger generations, especially the Generation Y group, do not look at owning their own home in the same way. Gen Y [...]
Before starting your home search and committing to any realtor, it is wise for you to research all the ones in your local area to find the best option for you. Buyers in the Washington, DC area have several options with realtors. Although it is routine for sellers to sign a listing agreement with a [...]
There is a difference between getting Pre-Qualified & Pre-Approved. A Pre-Approval is a document from the lender that confirms to the borrower a loan up to a certain amount based on a completed loan application, credit check, and possibly tax returns and employment verification. This Pre-Approval goes much further with a seller when submitted with [...]
Buying at auctions can be extremely rewarding to home buyers. You can often get a great deal, buying real estate for pennies on the dollars. But there are some drawbacks and pitfalls. For starters, to buy at a real estate auction, you often have to come with cash in hand. At a minimum, you need [...]
Idaho is a beautiful state. According to Wikipedia, it is the seventh least densely populated state. That should make it fairly attractive to someone who wants a rural lifestyle and perhaps wants to buy a lot of land. Even living in the city in Idaho has some advantages. You never see the largest cities in [...]
With so many homes on the market today to choose from, it is very easy to find a home that fits your needs exactly. But, what if something has gone wrong during the buying stage and you are unsure about buying the home after all. Where do you stand and what are your options? It [...]
The past few years have been an absolute nightmare on many people’s finances and investments. Literally thousands of people lost their homes through foreclosure. And, as everyone knows, a foreclosure is a huge black mark on your credit scores. But, it is not as bad as it seems in today’s market. Some lenders are realizing [...]
Open houses are excellent ways to be able to visit several houses as well as locations to see if anything piques your interest. It is much easier to visit open houses than it is sometimes to make appointments with home owners for a certain time on a certain day. But, what is it that you [...]
So you think you’re ready to jump into home ownership. That’s good. I’ll always encourage people to take a look in that direction. But before you do, ask yourself these 16 questions. Is my income steady? You’ll need at least a year of proof of income, but I recommend that you have had the same [...]
The housing crisis have caused many homes to be available on the market in the Washington, DC, Maryland and Virginia areas. There are homes available in just about any price range. It is just a matter of taking the time to look for what you like and visiting a lender to get funding in place [...]
Good credit scores play a bigger and bigger role in buying a home in today’s market. Most lenders will want credit scores of at least 680 and higher before approving someone for a loan. The score 680 is still considered a high risk to lenders even though most people would love to have a credit [...]
When you decide to purchase a home, a lot of people think alright, I have the money for a down payment, my credit score is good, so let’s buy a house. It can be that simple but…… There are other things involved in buying a home that most people do not consider. This is points, [...]
You will hear many people say you don’t have to worry about a home inspection when buying a home. They are wrong. You do have to worry. A home inspection should be one of the top priorities on your agenda when purchasing a home. It’s also important to not let a home inspection expire. There [...]
First time home buyers can often become a little confused by the terminology used. One term that actually causes real concern is when an agent tells them their home is being sent to escrow. Of course, the home is not actually going anywhere – in fact, I am sure there are some real estate agents [...]
Police checks – we often request these when it comes to employment, but what about buying a home? When I say police check, I am not referring to the current owners, I am referring to the home itself. Now I know a home won’t have a criminal record, but that doesn’t mean it doesn’t have [...]
If you watch data that is regularly published on the topic of real estate, there are several trends that keep reoccurring. These trends include theories that real estate prices have still not hit rock bottom, that interest rates will soon start to creep up, and that some areas are doing far better than others. That [...]
Ground rent is a philosophy that dates back to early settlement days. It is still a major part of people’s lives in Maryland, particularly in the Baltimore area. The principle is very simple – many years ago, land owners rented out tracts of land for people to build houses on. People owned their homes, but [...]
How much do you know about the home buying process? According to Zillow, home buyers are not very knowledgeable about the home buying processes. Many respondents were totally wrong in their assumptions, so how would you have done in the quiz? Here are some of the areas that home buyers erred. Around 42% of respondents [...]
Home prices are low, interest rates are low, mortgages are getting harder, but you’ve got a great credit history – sound familiar at all? There are many people who are looking at this scenario and deciding that now is the right time for them to buy. My questions is simple – is it really the [...]
You’ve found the home you really like. The price is right, the location is right, and the neighborhood seems to be okay. What would you say if told you they were planning an affordable housing project in the neighborhood? Would it put you off buying? That is the fear that some home owners and Councillors [...]
Baltimore MD is about to go through a huge crackdown on Homestead Tax misuse, and part of that process includes a change to the way the program is implemented. In the past, all a home owner needed to do was indicate in the land records that they were going to reside in the home. From [...]
