Your REALTOR:
Bonnie Fagoh
August 1999
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 1999 Realty TimesAll Rights Reserved.
Do You Have Buyer's Paralysis? You've looked at dozens of homes. Your REALTOR® is about to tear his/her hair out with frustration. You are paralyzed, letting one great home after another pass you by. Why can't you make a decision? Buying a home can be an over - whelming process. There are so many decisions to make and any of them can mean serious financial consequences. A home, after all, is hardly a liquid asset. Nor is it a growth investment, according to Wall Street definitions. In fact, it's your greatest financial debt, requiring constant maintenance. With all that weighing on you, no wonder you've got commitment - phobia. Yet, you really want to buy a home. You know that few purchases will provide
Mortgage RatesNational averages as of July 30, 1999:
30 yr. fixed: 7.65%15 yr. fixed: 7.26%1 yr. adj: 5.97%
Get today's rates
you the quality of life that a home of your own does. And, there are plenty of advantages, as well - tax breaks, rising real estate values, a stable environment for the family, to name only a few. So you stifle your worries and keep looking for homes. But still, you just can't find the one that's just right for you.
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Wondering What Your Home Is Worth?Let me show you.
Job-hunting Strategies for Trailing Spouses You're moving. Again. And once again, your spouse's career takes precedence and yours is back at square one. Even if you are in total agreement with the move, you will still experience two of the highest stress factors in existence simultaneously - moving and unemployment. Along with death of a family member, loss of a spouse, and disaster, moving and being unemployed rank among the top five stress producers. To be faced with two of the top stressers simul - taneously requires the marshalling of all your survival and recovery instincts. You're moving to make life better, but that is only true if moving is best for both of you and the rest of the members of your family. Your job as the transferred spouse is to make the best of the transition. Finding the right employment situation will get you well on the road to accomplishing that goal. Over 75% of company transferees are married, according to the Employee Relocation Council, which means three out of four transferees has a "trailing spouse."
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Myths About Bi-weekly Mortgage Payments It's amazing how many people think bi-weekly mortgage payments save you money through some hocus-pocus. That's because in many borrowers' minds, "bi-weekly" translates as "half a regular mortgage payment, twice a month." If such a technique could cut years off the term of your fixed mortgage, (or reduce the total interest paid on an adjustable rate loan) it would be magic. But that's not what's happening. Yes, you might make a half-payment on the 1st and the 15th of a month. But bi-weekly means "every two weeks", and you'd owe another half-payment on the 29th. The next month you would indeed pay only twice, but sooner or later, another three-payment month will show up. If you pay every two weeks, that means 26 half-payments a year, the equivalent of 13 full payments. And it's that extra payment, applied entirely to principal once a year, that works the magic. Your bank's computers are not set up to handle half-payments, and if you tried sending them in, you'd soon be embroiled in a confusing late-payment hassle. If you do want to achieve the same results, cutting approximately nine years off a 30-year loan, you can try one of three systems:
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The Basics: Home Buying 101 You need three things to buy a house -- good income, good credit, and some cash. And if you lack any one of those, sometimes even if you lack two, there is often a way around it. After all, if you have enough cash, income and credit won't matter. You can simply pay cash for your home. If that's your situation, in fact, you're in a strong negotiating position and can sometimes buy at a bargain figure, because you represent a sure thing, a simple transaction, for the seller. So what if you have good income and credit, but lack money for down payment and closing costs? Several options are open to you. For starters, veterans can obtain a VA-guaranteed loan with no down payment at all. And if you can find sellers who agree, the VA will allow them to furnish the cash outlay you need, covering everything from bank points to your prepaid property taxes. Any buyer can apply for an FHA-insured mortgage, with down payment of less than three percent. New regulations allow the down payment to be furnished by a relative. Some of your closing costs (prepaid mortgage insurance premium for example) may be financed along with the rest of the loan. And a cooperative seller may agree to cover some of your other costs.
CONTINUED >>>Local Market Conditions
Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: http://bonniefagoh.mfr.mlxchange.com813-390-7606
Century 21 Beggins Enterprises813-390-76066542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
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