Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
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Making, Saving Money Key Points In Home Ownership For the first time home buyer, the question will come up at some point -- should I wait to purchase at another time? Will the home prices drop? Will they escalate more? Will interest rates drop/increase? These are all very valid concerns, so I'm not going to waive them off, point to historic appreciation of real estate overall, and tell such a buyer to just dive in. For those in an escalating market, buyers are always afraid of buying now and then having the market turn, leaving them caught with a mortgage worth more than
Mortgage Rates U.S. averages as of April 28, 2005:30 yr. fixed: 5.78%15 yr. fixed: 5.33%1 yr. adj: 4.21%30 yr. jumbo: 6.98%-->
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the house. It's happened in the past to some buyers and it will happen in the future -- it's just a natural ebb and flow of the real estate cycle.
Wondering What Your Home Is Worth?Let me show you.
Consider Real Estate Taxes When Buying Your Home You want to buy as much home as possible for your money, but your new asset can become a liability if you don't consider variables such as property taxes and utilities. The information you have may not be accurate, and you may not know how to forecast how expensive those monthly expenses, whether escrowed or not, can be. Let's say your Realtor sends you a listing from the MLS. You like it, and decide to buy after seeing the home. If you've been preapproved for a loan and the price falls within your lender's parameters, you think you're home free, pardon the pun. But the lender is following a formula, and that formula doesn't include the rising costs of property taxes or utilities. Most MLSs supply tax roll data in property listing information, but often that data can be outdated, particularly if the seller bought their home long ago. Property tax rate caps can keep
Should You PrepayYour Mortgage? Does it make sense to prepay your mortgage, or buy real estate with a big downpayment? These are the core questions raised by Antonio Gidi, an assistant professor at the University of Detroit Mercy Law School, questions which everyone should consider. "Some people," explains Gidi, "say 'put no money down', 'do not prepay your mortgage', 'do not give money to the bank', 'refinance and reinvest your equity outside the house'. Other people say 'put money down', 'pay more and apply towards the principal', 'have your house debt free'. Who is correct?" "Does it or doesn't it make sense financially, to put money down and/or prepay your mortgage?" Gidi points out that you can buy today with no money down and use your cash elsewhere. Also, the money used to prepay a loan can just as easily be devoted to other investments, including some with higher effective yields. We certainly see that many people are buying with no money down. Figures from the National Association of Realtors show that 42 percent of all first-time buyers and 13 percent of repeat purchasers buy with no-money-down, 100-percent financing.
Baby Boomers Not Retiring From Home Ownership Retirement-age baby boomers don't stop buying homes. They find new ways to bring home the bacon to buy more homes and boomer women are playing much greater roles in this new "active retirement" trend. "The New Retirement Survey," conducted for Merrill Lynch by Harris Interactive in collaboration with Age Wave, builds upon existing studies that say baby boomers typically won't pursue traditional retirement of leisure. While 76 percent of boomers intend to keep working and earning in retirement, on average they expect to "retire" from their current job/career at around 64 but only to launch into an
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Bonnie Fagoh E-mail: email@example.comWeb: http://www.tampabayhomes.com Cell: 813-390-7606
Century 21 Beggins Enterprises 813-390-7606 6542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
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