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Bonnie Fagoh
September 2005
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Moving Up? What You Need to Consider to Accommodate Your Growing Family One of the most common reasons to buy a home is to accommodate your growing family. Perhaps you want to live in a neighborhood with better schools and more services, or maybe you need a bigger house as the two of you turns into three and then four. In fact, in a recent study by the National Association of Home Builders, some 64 percent of respondents agreed with the statement: "I wish my home were larger." The other two top concerns are price and finding the right
Mortgage Rates U.S. averages as of August 25, 2005:30 yr. fixed: 5.77%15 yr. fixed: 5.35%1 yr. adj: 4.56%30 yr. jumbo: 6.98%-->
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neighborhood. If you have a young family and are ready to make the jump from your entry level home, or if you've been renting and are embarking on the purchase of your
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Wondering What Your Home Is Worth?Let me show you.
Top 10 Reasons Loan Applications Are Rejected As interest rates rise and rising housing costs swells lenders' portfolios with riskier loans, lenders will tighten underwriting rules making it tougher to buy a home. Still -- in hot markets and in cool ones -- the fundamentals apply. Getting a loan application approved is often knowing how to keep lenders from saying "no." To that end, here are the Top 10 reasons loan applications wind up the circular file. There are more, but these top the list.
Being in denial about what you can really afford. Apply for too much and you could be out the door faster than you went in. Let the lender decide what you can afford to borrow. From that, you decide what your budget will realistically let you afford to pay each month Get preapproved with a bona fide, carved-in-stone preapproval that guarantees in writing a loan amount, interest rate and as much of the other loan terms as possible.
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Tips For Real Estate Investors Got the real estate investment bug? You aren't alone. By the end of 2004, the National Real Estate Investors Association's 20,000 affiliated members were double the previous year's numbers, but even at 20,000 represented only about one fourth of all U.S. real estate investors in investment clubs, the association said. Investors accounted for what's likely a record 23 percent of all home sales last year, according to the National Association of Realtors' "2005 National Association of Realtors Profile of Second-Home Buyers." While the investor purchase portion is 23 percent, other second home buyers who become aware of the potential for a return on their property may very well take a more speculative approach. The second home market now accounts for 38 percent of the existing housing stock and 36 percent of all homes purchased last year, NAR said. "These aren't second homes. You know where that down payment is coming from. People are leveraging one price asset against another on a pure momentum play," said Robert M. Campbell, a San Diego-based realty broker, investor and author of "Timing The Real Estate Market."
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Bad Wiring ThwartsSmart Homes Many new homes are built with communications wiring that may be inadequate for computer, telecommunications, entertainment, security and other electronic systems. The Federal Communications Commission, in 2000, last issued communication wiring rules for homes that require all telecommunications wiring in new residences be of the so called "Category 3" or better grade. Cat 3 is a cable that includes 2 to 4 twisted pairs of copper wire enclosed in a plastic sheath and replaces the old 4-wire telephone cable. "A few (builders) still build homes that don't even measure up to the basic FCC requirement," said John Cowie with the New York City-based Copper Development Association.
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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://www.tampacoastalhomes.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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