Real Estate Insider Blog
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If you are thinking about buying your first home, there's probably a lot on your mind. You may be thinking about the home's size and layout. You are likely thinking about and planning for all of the things you'll do. However, as a young family, you also have to consider the neighborhood and community closely. You'll likely need to remain in that home for some time to break even, so you'll want to ensure the home is the right place for you and your family.
Tips on finding a great home in the Clearwater Area:
As a first-time home buyer, you have a lot on your mind when it comes to finding your dream home, paying for it, and taking care of it. What are the biggest mistakes and misconceptions you have about the process? These are key areas of concern for many people today.
The mortgage payment: Be sure you can afford your mortgage payment and invest the time in creating a budget. Get with your lender to see how much you will need to put down and ask your Clearwater area REALTOR® to see how much your estimated closing costs are. Doing the above will ease your mind so you’ll know how much loan you can manage and the total cash needed to close.
The renovations: Perhaps one of the biggest mistakes new home buyers make is not fully understanding what revisions are necessary. First-time home buyers rarely should consider significant renovations unless they have the budget to tackle it. A home inspection can help clear up some of your concern. An experienced REALTOR® like Christopher Milson should be able to give you a “ball park” estimate of the amount of work needed and successfully negotiate to get adequate compensation for any possible repairs.
The neighborhood: Have you taken the time to explore the neighborhood? Do a bit of experimenting so you can avoid having to struggle later. Drive to and from work from the new home during the normal times and walk the neighborhood with the kids. If you can’t physically get to a particular area, take...
A "pretty amazing balancing act" between low interest rates and rising home prices is reportedly keeping affordability stable at the national level, according to the latest Black Knight Mortgage Monitor.
Buying a home that's within a homeowner's association can seem like a turnoff for some people. For others, it is exactly the type of neighborhood they are looking for. What's right for you and your family?
When you live in an area with a homeowners' association, you can expect to be required to make an additional payment towards the community's upkeep and management each month or annually. This fee gives you a few key things. In most cases, you'll have access to more onsite amenities such as recreational facilities and pools. You may have a playground that's maintained. These areas may offer more security. You can also expect more sponsored events in many of these locations. Be sure to read and understand all of the amenities and benefits offered to you when buying into this type of neighborhood.
For some, there are challenges in these organizations. You'll have to follow rules and, in some cases, making changes to your property, such as the paint color or to the features on your lot, may require approval of the association. You may be limited to the types of things you can do to the exterior of your home.
Is it better to live within a homeowners' association or not? This really depends on whether the amenities and additional features of the location are worth it to you. Each location is different, though. That's why it is so important for you to ensure you choose an area that fits your unique needs and lifestyle. Take the...
The bond market started going haywire after the election -- here's the result
Immediately after the election, the bond market was splattered all over the windshield, taking mortgage rates up with it.
The most immediate concern right now is that the 10-year T-note has soared to 2.07 percent, the first time so high since last January and wiping out six months of chart support near 1.80 percent — and the next support is near 2.50 percent, mortgages 4.25 percent-4.50 percent.
“Mortgage rates have spiked more than 20 basis points following the results of the presidential election on Tuesday, as we assess the degree of political and economic uncertainty that Trump’s win introduced to the market and as investors move away from U.S government assets, including U.S. mortgage-backed securities, in favor of relatively safer investments,” said Erin Lantz, Zillow Group vice president of mortgages, in a statement.
“As we continue to learn more about shape of the new administration, their policies, and the global reaction, we expect more volatility as markets try to put a price on the political...
As life goes on you may find yourself struggle with your home. Your kids have moved out and they are now raising families of their own. Your home may be too big or too much to manage right now. It is quite common for individuals to experience this especially as they begin to have more time on their hands. Yet, when it comes to downsizing and the need to do something new, it may present an opportunity to start a new chapter in your life.
Are you an empty nester or a retiree looking to make changes? Here are a few things to keep in mind:
According to the National Association of Home Builders (NAHB), "Builder confidence in the market for newly constructed single-family homes remained on firm ground in October, down two points to a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Even with this month's drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. However, builders in many markets continue to express concerns about shortages of lots and labor.
The October reading represents a mild pullback from a jump in September, and indicates that the housing market continues to make slow and steady gains," said NAHB Chief Economist Robert Dietz. "Moreover, mortgage rates remain low and the HMI index measuring future sales expectations has been over 70 for the past two months. These factors will sustain continued growth in the single-family market in the months ahead."
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