The mortgage process is a potentially complicated one. During the underwriting process, a number of obstacles can get in the way of your approval. And considering the huge commitment, it’s crucial that you make sure the mortgage you get into is one you can live comfortably with.
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When you’ve got your home listed for sale, you want to draw as much attention to it as possible. Since these small descriptions are only a few characters long, you’ve got to make the most of the words you use.
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People always learn a thing or two after having been through the process of selling a home, and those who’ve been through this rodeo once or twice probably admit that they would have done something a little different the first time around. For those who are selling their homes for the first time, it can seem like a daunting task. From getting the place ready for showings, to finding the right buyer, to negotiating a good deal, the whole process is more involved than you might think. But with the help of an experienced real estate agent – and a few pointers – selling your home shouldn’t have to be a headache.
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This may come as no surprise in many markets, including California and New York. The median price of homes in the San Francisco Bay area hit $702,150, a 15.2% increase from the same time last year. Southern California saw a hefty boost in property values, with the median home price reaching $453,910, a 7.9% increase from last January.
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The modern home of today is more functional and stylish than ever before. Home builders and designers always have their fingers on the pulse of what homeowners want, which changes from time to time. While many trends in home plans and designs lose steam quickly after they’ve gone mainstream for a while, others stick around a lot longer and even become timeless.
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Condos and homes in planned communities are pretty popular these days. But buying a piece of property in a homeowners’ association (HOA) is slightly different than purchasing a conventional home. In addition to buying the actual unit that you occupy, you’re essentially buying into the community or building that your particular unit is located in.
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Homeowners across the country have been able to take advantage of super-low interest rates on their mortgages for the past few years, which has certainly helped to make home purchases more affordable.
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A home purchase is not like buying a dishwasher – you can’t just “return” it if things don’t pan out the way you planned a few weeks down the road. Once you’ve sealed the deal, you’re stuck. And while this is usually a good thing when you find the right home, it’s important to place a few contingencies in the contract before you agree to take over ownership and commit yourself to a mortgage.
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After the financial crisis hit the nation back in 2008, hundreds of thousands of families lost their homes to foreclosure. In fact, foreclosure filings skyrocketed over 81% that year compared to the year before. Getting approved for a mortgage is tough enough these days for any borrower, but it can be a lot more challenging with a foreclosure on the record.
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Not only is there a serious lack of inventory in many parts of the US, there’s also a housing affordability issue at play. And depending on where you live, both of these matters combined spell trouble for the average American who is looking to get into the real estate market but can’t find the right property at the right price.
How much do foreign investors have to do with this scenario?
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