Instead of a Vision, Show them the House
Sellers try to rationalize not making needed updating and repairs to their homes before marketing them by saying they are going to let the buyers make their own personal choices. It is a convenient story to justify not going to the effort for the Continue Reading
The Dynamics of Home Equity
Appreciation and amortization are key factors in building equity for homeowners with mortgages. As the home goes up in value due to appreciation and the unpaid balance goes down due to amortization, the equity increases. Appreciation is the increase in value of Continue Reading
Remodeling as it Relates to Value
While updating and remodeling certainly makes a home more enjoyable and livable, and increases the value, homeowners should not expect to recover 100% of the cost of the remodeling. Certainly, remodeling and updating makes a home sell faster, some of the Continue Reading
Assumptions Make Sense Again
Existing FHA and VA mortgages are assumable at the note rate to owner-occupied buyers who qualify. This can be an alternative to paying higher, current rates and benefit buyers with lower closing costs while saving money on the payment. For the last 20 years, Continue Reading
Some Should Consider and ARM loan
Adjustable-rate mortgages are not the right choice for many homeowners especially, if they plan to own the home for a long time. Less than 3% of buyers choose an adjustable-rate mortgage according to NAR's 2021 Profile of Home Buyers and Sellers. With fixed-rate Continue Reading