Home warranties are available for both home buyers and sellers, offering coverage for systems and appliances. Buyers can get a warranty through agents or providers, providing peace of mind and potentially sweetening the deal.
Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too. Here’s some helpful information on what those costs are and how much you should budget for them. What Are Closing Costs? A recent article from Bankrate explains: “Closing costs are the fees…
Legal Agreement: It's a contract between borrower and lender. Terms and Conditions: Includes repayment details, interest rate, and foreclosure rights.
Americans now need an annual income of ~$106,500 to comfortably afford a typical home, a significant increase from $59,000 in 2020.Home ownership is considered affordable if housing costs, including mortgage payments, are no more than 30% of pre-tax income.
Benefits include: – Low down payments – Credit-score flexibility – Grants & home-purchase assistance Qualifications: – Never owning a single-family home – Not owning a home in the last 3-yr – Displaced homemaker/single parent
Fed keeps key interest rates at 5.25% – 5.5%, highest in 23 years.Fed plans 3 rate cuts this year, but waits for inflation to fall more.Inflation is still high, Fed predicts it won't reach 2% target until 2026.
In today's housing market, speed is crucial to avoid financial losses. 3 strategies for a quick sale include: – Using instant offer companies – Strategically lowering the price – Offering owner financing
Some Highlights Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help. Look into homebuyer programs, expand your search area, and consider a multi-generational home. Connect with a local real estate agent so you have an expert on your side to help you make your dream a reality.
If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here’s what the professionals are saying about what’s in store for this season. Odeta Kushi, Deputy Chief Economist, First American: “. . . it seems our general expectation for the spring is that we will see a…
Thinking about buying a home? If so, you’re probably wondering: should I buy now or wait? Nobody can make that decision for you, but here’s some information that can help you decide. What’s Next for Home Prices? Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will…