The U.S. housing market is back on its feet, aided by rising home prices, steady job growth and fewer troubled loans.
More U.S. homeowners are also keeping up with their mortgage payments. March was the 42nd straight month where U.S. foreclosure activity dropped from year-ago levels.
Ever heard the phrase, “walk a mile in someone else’s shoes?” When it comes to selling your home and boosting curb appeal to the widest range of buyers, the distance you need to think about is far less than a mile: it simply runs from your front curb to your back fence. The moment you even begin to think of putting your home up for sale is the time to start thinking like a buyer.
Why?
Because thinking like a buyer will help you make your home move-in ready for just the right buyer (or maybe even a bevy of bidding buyers). The less they think they have to change, the shorter the distance will be between the viewing, their offer, and the day you say, “Sold.”
The idea of selling a home without ever listing it can be appealing to many. Similarly, ringing the doorbell on the “perfect home” and finding an owner willing to sell can put a broad smile on a buyer’s face.
The risks, however, routinely make buying and selling “pocket listings” dangerous to a person’s financial well-being — particularly for sellers.
Good news for Realtors, lenders and condominium unit owners who’ve been frustrated by FHA’s prohibition of “spot loans” in developments that haven’t obtained certification: The agency is now seriously exploring how to relax its ban and bring them back.
Officials are mum on the details and timing, but they confirmed recently that reviving this key financing option is now under active study. The main reason: FHA is under growing political and trade group pressure — NAR and the Community Associations Institute especially — to do so.
If you’ve been paying attention to the news, you’ve undoubtedly seen headlines stating that real estate prices are on the rise. According toTrulia, most markets, housing has begun to bounce back and in a selected few metros, like Los Angeles,San Francisco, and New York City, the housing market isn’t just bouncing back – it’s booming! So, if you’ve been on the fence, waffling about whether or not to sell, consider these 5 things…
A lot of sellers don’t listen to their real estate agents, so here’s what your agent wants to say, but can’t say to you and this is it – your agent can’t get you the price you want unless your home is in pristine move-in condition.
That means no sticking drawers in the kitchen. No leaning fences. No rust-stained plumbing fixtures. We could go on, but maybe we need to make it clear. If you have even one of following “turn-offs,” your home won’t sell.
Buyers can get instantly turned off. Here are their five biggest turn-offs…
Can you be charged interest on your mortgage even after you’ve fully paid it off? Can the meter keep running when you owe the bank nothing — your principal balance is zero?
Surprise! Much to the chagrin of large numbers of home sellers and refinancers, the answer for years has been yes. If your loan was insured by the Federal Housing Administration and you paid it off before maturity, at closing you’d be expected to cough up a full month’s interest, no matter what day of the month you actually settled.
If you’re entering into the real estate market for the first time, you’ll hear the old adage: location, location, location. That’s three of the key factors… I’m kidding but, location is, indeed, a very important concern.
However, many buyers think location is most important because of the surrounding area. So, if the neighborhood is nice, with parks, good schools, retail stores nearby, and somewhat close to freeways, it’s a good location. But what also makes it a good location is how close it is to your work.
Faced with rising medical expenses and longer life expectancies, many seniors are turning to their single largest asset as a source of supplemental income: their home.
Indeed, reverse mortgages enable seniors who are 62 and older to convert a portion of the equity in their home into cash without having to sell.
As the name implies, such loans are structured as the mirror image of a regular mortgage. The lender makes payments to you in either a lump-sum amount or in monthly installments based on a percentage of your home’s appraised value. Eligible homeowners can also set up a reverse mortgage as a line of credit, providing access to emergency funds on an as-needed basis.
The money received can be used to pay off your existing mortgage loan and halt your monthly payment, supplement your retirement income, finance a home-improvement project or pay for health-care costs.
Bamboo, marble & pergo floors; Wainscoting, wide molding & wood-wrapped windows; Granite & marble counters. This beautiful home is bright with many windows & skylights; Master suite has 2 walk-in closets, a deck & 5-pc bath with wide tub. The den/office has a closet & can be used as a 4th bdrm. Relax on your private deck or enjoy urban living with many restaurants, shops & entertainment nearby in the desirable 6th Ave Bus District!
2,221 square feet; 3 bedrooms + den/office with closet (possible 4th bdrm); 3.25 bathrooms
$369,900
Managing The Real Estate Details 