Posts in category 'Buying A Home'
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17
Consider Cost Not Just Price
In today's real estate market, buyers have a tendency to focus on price when searching for a new home. But, they really should focus on the long term cost of a home.
In November 2013, the Mortgage Bankers Association (MBA), the National Association of Realtors, Freddie Mac and Fannie Mae estimated a 1% increase in mortgage interest rates in the next 12 months. They also projected that home prices will continue to rise. What does this all matter to buyers that are considering buying homes now or waiting for up to 12 months? Let us show you! Check out the chart below. A home purchased today versus next year for the same price could cost you as much as $150 more per month due to the projected interest rate. Who wants to pay more for the same thing?...
13
Should You Buy that Fixer-Upper?
Investing in real estate can be a challenge, but from a monetary standpoint, it could be a great payoff. When searching for real estate – don't leave out the fixer-uppers. Fixer-upper properties will give you more purchasing power when looking for a new home. Just think: you can get a property below market price, invest time and money with renovations, and end up with a house that is like new. Reductions can be found on homes that have been foreclosed, apprehended by the government, or just neglected by the previous owner. While it is true that you will save money initially, it is important to remember that these homes will need a lot of work. Ther...
13
House Sales in the U.S.
Keep checking RuhlHomes.com for the most up to date information on the housing market.
Graphic provided by: KCM Blog 22
Is It Time for Young Families to Buy a Home?
We have reported that almost six million adults between the ages of 25 to 34 are currently living with their parents. That number reflects an almost 50% increase since 2003. These young adults are now being advised to jump into homeownership. Who are the people selling them on the American Dream? Their parents! It seems that parents of some adult children are strongly suggesting that their children take advantage of the low cost of homeownership available today. Some moms and dads are helping financially and are even co-signing for the mortgage. Middle age parents who have owned a home understand its true value. A home has always been a good long term financial investment. However, homeownership also has many other benefits. In...
18
Funds Available for Military Homebuyers in Illinois
A new financing package is being offered to help all qualified Illinois veterans, active military personnel, reservists and Illinois National Guard Members with the purchase of a home. The financing package, Welcome Home Heroes, through the Illinois Housing Development Authority provides qualified veterans or active reservists a $10,000 forgivable loan over two years for down payment and closing cost assistance, 30-year fixed rate mortgage that has an affordable interest rate and an optional mortgage credit certificate to reduce federal income tax liability. "This is a great program that all service personnel should take advantage of," said Jane Schneider, President of 1862 Mortgage, an IHDA approved lender offering the package. "Time is of the essence, as only $10 Million total is available." The Welcome Home Heroes financing package is designed to assist qualified Illinois veteran...
