Posts with tag 'buying a home'
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9
Overcoming Holiday Hurdles: Mortgage Tips for Homebuyers
Buying a home during the holidays might seem tough, but our real estate agents are ready to help you through each stage. With the right mortgage advice, you can turn holiday challenges into opportunities.
Understanding the Challenges of Holiday Homebuying
Purchasing a house during the holidays comes with its own set of hurdles. While most folks are busy celebrating, the housing market tends to slow down. But this quiet time can benefit smart buyers who know how to handle the season's quirks. The main issue is the limited number of homes for sale. Homeowners often don't want to list their properties during this period, which means fewer choices for buyers. Also, setting up appointments can be tricky. Banks, inspectors, and other key services often work shorter hours or close for the holidays. Cold...
16
Buy Now or Wait?
Reasons to Buy Now
Mortgage rates now are around 6%, fluctuating between 5.875% and 6.25%. This is about 1% lower than 12 months ago.
Local Mortgage Rates
As of October 15, mortgage rates with no points were:
- 15-Year Conventional Fixed 5.625%
- 30-Year Conventional Fixed 6.00%
- FHA 30-Year Fixed 5.875%
- VA 30-Year Fixed 6.00%
- 30-Year Jumbo 6.00%
1. Mortgage Rates May Be As Low Now As Next Spring
It is possible that today's rate of 5.875%-6.25% is still comparable to rates projected for next spring. (See mortgage rate projection chart below.)
Many would-be buyers mistakenly believed that residential mortgage rates would move lower after the...
1
Insurance Basics For First Time Buyers
Congratulations on becoming a first-time homebuyer! Buying a home is a significant milestone, and having the right insurance in place is essential to protect your investment. Homeowners Insurance protects your home's structure, personal belongings, and provides liability coverage. It's a good idea to start the process of obtaining insurance quotes as soon as possible. There are a lot of factors going into a rate and allowing adequate time for your lender and insurance agent is important. The insurance premium may be a factor in qualifying for the purchase and will affect your monthly mortgage payment. Here's a Breakdown of the
26
Home Offers 101: Tips to Get Ready
You've found a home you love and are ready to submit an offer. Well, "ready" is a loose term. You're not sure what's involved in the process or what needs to be done before the offer is submitted. Fortunately, our real estate agents can guide you through it. Here's a crash course in Home Offers 101, with everything you need to get you ready.
- Pre-Approval
Ideally, you should do this before you even start looking at homes for sale, but if you haven't yet, now is the time. Getting mortgage pre-approval from a local lender, such as Ruhl...
26
Update on Changes in Real Estate Process
Background
A recent federal court ruling challenged some of the National Association of Realtors' (NAR) practices. NAR reached a settlement that included significant changes to real estate transactions.
Traditionally, listing agents offer a portion of the total commission charged to a seller as compensation to buyer agents as part of the marketing strategy to sell a property. Offering buyer's agent compensation is one of the most effective uses of marketing funds because it ensures targeted and efficient use of funds, as payment occurs only when the property is sold. Unlike other advertising methods that require upfront investment without guaranteed results, buyer's agent compensation is performance-based-payment occurring only when the property is sold. This approach increases market exposure and aligns the seller's investment with the desired outcome of a successful sale. This commission customarily would cover the cost of the buyer's agent fee,...
