While businesses have fallen on hard times during the past few months, there are signs that the economy is going to start to recover quickly. This could mean that homebuyers are entering the market again as well. With summer being a historically hot time for homebuyers all over the country, there are a lot of experts saying that buyers need to get ready for a bidding war. There are not a lot of homes on the market right now, as sellers are still a bit reluctant to put their homes back on the market with the economy just starting its recovery process. The end result is that there is a … [Read more...]
Some Millennials Are Finding Home Buying Overwhelming
Many millennials are reaching the age where they are thinking about buying homes for the first time. It turns out that many members of this generation are finding this process challenging. Even though the housing market is great for those looking to buy, surveys indicate that this generation also finds the process overwhelming. Reports have been published showing that many millennials are planning to buy their first home in the next year, showing that owning property is still a strong part of the American dream. Furthermore, many millennials also know that this is a great time to buy. Why are … [Read more...]
5 Options To Consider When Your Appraisal Comes In Low
Yikes! You are set on buying the home that you picked out and the appraisal comes back at a lower amount than the amount needed for the home loan to be approved. What do you do? After you calm down your significant other and then take three deep breaths, here are some options to consider. Request A New Appraisal Appraisals are only one person's professional opinion. There are rules that must be followed when making an appraisal; however, there is still some flexibility in how to apply the rules. Check the comparables (also called "comps") that the appraiser used as the basis for setting the … [Read more...]
Auction 101: Bidding On Your First Property
With the right combination of strategy, knowledge, and luck, flipping houses can create big profits for short-term investors. However, your path to success starts at your first auction. For first-timers who are intimidated by their lack of experience at public auctions, follow these steps to ease the confusion of your first property purchase. Locate Auctions In Your Area Finding live auctions is as simple as an internet search. Websites run by government agencies list homes that have been seized due to tax liens or foreclosures. Try searching databases maintained by: Fannie Mae The FDIC The … [Read more...]
Buying A Home? Take Stock Of These Things
What are some of the most important factors that buyers take into consideration when looking for a new home? There are the obvious things like price, square footage, location and lot size. Those are the basics. Other things that are often weighed are garage size, how updated the kitchen and baths are and whether or not the basement is finished. All of these are very important to consider, but there are other more "hidden" aspects of a home that many prospective buyers may not take into account. And it's these aspects that could really come to bite them where it hurts if they're not also … [Read more...]
