Archive for January, 2017

Proof of Purchase

Monday, January 30th, 2017

People who experience a property loss are usually asked by their insurance company for proof of purchase which can come in the form of a receipt or current inventory of their personal belongings. The inventory can serve as a guide to make sure a homeowner gets compensated for all the loss.Even the most organized people […]

Rent or Buy – You Pay for the House You Occupy

Wednesday, January 25th, 2017

The ironic thing about people who think they can’t afford to buy a home for themselves, end up buying the home for their landlord. There are several facts that support this notion. In most cases, the mortgage payment including taxes and insurance will be lower than the rent tenants are paying. Some experts are saying that we […]

Boomers Are Staying In-Place

Monday, January 23rd, 2017

There seems to have been an accepted progression for homeowners going from starter home, to gradually moving into one’s dream home, then, downsizing after becoming an empty nester and finally, into a retirement home. However, Marianne Cusato’s 2016 Aging-in-Place Report indicates that many older Americans don’t plan on following that pattern. Some of the reasons […]

Waiting to Buy…WHY?

Monday, January 16th, 2017

Some people wait to buy a home until they have 20% down payment to avoid paying the mortgage insurance which is required by lenders when the loan-to-value ratio is greater than 80%, with the exception of VA loans. If it took three years to save the additional down payment, the $200,000 home at 3% appreciation […]

When the rate goes up

Wednesday, January 4th, 2017

It’s not “if” the rate goes up but “when” the rate goes up; it could make a big difference for some buyers. Freddie Mac predicts that mortgage rates will be at 4.5% a year from now. When the rate moves 0.50% on a $250,000, the payment goes up by $70.66 a month. If it moves […]

What a Difference 50 years Makes

Wednesday, January 4th, 2017

In 1966, a gallon of gas was $0.32 and today, it is $2.49. A dozen eggs were $0.60 but they’ve only doubled to $1.33. A gallon of milk was $0.99 and today, it costs $3.98. You could send a letter for five cents and now, it costs forty-seven cents. Interestingly, mortgage rates are actually lower […]