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Showing Procedures During COVID-19

Showing Procedures During COVID-19


During these unsettling times, sellers and buyers are concerned about staying healthy and virus-free as we all are. To keep all parties safe, new procedures should be considered regarding the procedure for showing houses. ...CONTINUE READING
Gift the Down Payment

Gift the Down Payment


A legitimate source of a down payment can be from a gift as long as it meets certain requirements of the lender. ...CONTINUE READING
Shopping for a Mortgage

Shopping for a Mortgage


A lower rate will not only result in a lower payment, it will amortize the loan quicker. A $250,000 mortgage at 4.5% for 30 years will have a $1,266.71 principal and interest payment. At 4%, the same loan will have $1,193.54 payment saving $73.18 a month and the unpaid balance would be $1,776 lower at the end of five years. ...CONTINUE READING
Personal Finance Review

Personal Finance Review


You'll need to earn $2.00 for every $1.00 you want to spend assuming you pay 50% of your earnings on income tax, social security and Medicare.   On the other hand, you get to keep 100% of every dollar you save on your personal expenses because the taxes have already been paid. ...CONTINUE READING
The 30-Year Option

The 30-Year Option


The advantages of a 15-year loan over a 30-year include the obvious shorter term, usually a slightly lower interest rate and that equity builds faster.  The disadvantages are higher payments that are required regardless of temporary personal economic conditions. ...CONTINUE READING
Instant Buyers Save Time But Cost Money

Instant Buyers Save Time But Cost Money


There are a multitude of companies across the Internet, referred to as iBuyers, who are suggesting that sellers can save the hassle of putting their home on the market, showings, repairs, open houses and other things by accepting their instant offer to purchase. ...CONTINUE READING
Financing Home Improvements

Financing Home Improvements


Home improvement loans provide a source of funds for owners to finance the improvements they want to make.  These are usually, personal installment loans that are not collateralized by the home itself.  Since there is more risk for the lender with this type of loan, the interest rate is higher than a normal mortgage loan. ...CONTINUE READING
What Goes With the House?

What Goes With the House?


Sometimes, there can be confusion on what goes with the house and what goes with the seller when they move.  Generally speaking, the house is the land and buildings and any fixed or attached property. ...CONTINUE READING
Who Earns the Commission?

Who Earns the Commission?


What do you think the motivating reason would be for the 5% of all homebuyers who chose not to work with an agent but instead conducted their own home search, contacted the seller, negotiated the contract, located their financing, arranged their inspections and all of the other services provided by REALTORS®?  Most people would probably guess the buyers were wanting to do the work themselves and earn the commission in the form a lower purchase price. ...CONTINUE READING
Take the Standard Deduction and the Home

Take the Standard Deduction and the Home


Now that the standard deduction is increased to $12,200 for single taxpayers and $24,400 for married ones, many homeowners are better off with the standard deduction than itemizing their deductions to write off their mortgage interest and property taxes.  There was some speculation that without the tax advantages, homeownership is not the investment it once was. ...CONTINUE READING

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