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28 Aug 2020
By noelkelman

Condo Damage Caused By Contractors Hired By The HOA: Who Pays?

Mortgage Tips, ,
For those who live in a condo, they know that there are numerous advantages that come with this living arrangement. Living in a condo means that other people are going to be responsible for landscaping and common areas while homeowners are still able to build equity in the home. At the same time, the HOA has quite a bit of power and one of the biggest concerns that people might have involves who pays for the damage in the event that something in the building has been damaged. There are a few important points to keep in mind. Roof Replacement…
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27 Aug 2020
By noelkelman

Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

Home Mortgage Tips, ,
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to…
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26 Aug 2020
By noelkelman

Case-Shiller: June Home Prices Rise as Affordability Crisis Grows

Financial Reports, ,
According to the National Case-Shiller Home Price Index for June, U.S. home prices rose 4.30 percent year-over-year, which was unchanged from May’s year-over-year home price growth rate. Home prices are expected to continue growing through 2020 as businesses reopen and COVID-19 restrictions ease. Case-Shiller’s 20-City Home Price Index for May showed Phoenix, Arizona held the top spot with 9.00 percent year-over-year growth; Seattle, Washington followed with 650 percent growth in home prices. Tampa, Florida maintained its third-place position with 5.90 percent year-over-year home price growth. Five of 19 cities reporting in the 20-City Index showed a higher rate of home…
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25 Aug 2020
By noelkelman

From Big to Small: How to Downsize from a Large House to a Smaller, More Efficient Home

Mortgage Tips, ,
If you're moving from a large home into a smaller house or condo, you're probably looking forward to enjoying a lower utility bill and not having to do as much cleaning. But before you move, you'll want to take certain precautions to ensure that you're not overwhelmed. A smaller home won't have as much room for your belongings, which means you may need to get creative. Here's how you can downsize without losing your mind. Decide What You're Going To Keep Before you do anything else, choose which of your belongings are coming with you. Unless you've habitually been getting…
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24 Aug 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 24, 2020

Financial Reports, , ,
Last week’s economic news included readings from Case-Shiller on home prices, the National Association of Home Builders Housing Market Indices, and sales of previously-owned homes. Readings on housing starts and building permits issued were released. Weekly reports on mortgage rates, new and continuing jobless claims were also published. NAHB: Home Builder Confidence Rises in August The National Association of Home Builders reported that builder confidence in housing market conditions rose six points to an index reading of 78.in August. The expected reading of 73 was based on July’s reading of 72. Homebuilder confidence was based on sharp demand for homes…
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21 Aug 2020
By noelkelman

Tips For Deciding The Value Of A Home

Mortgage Tips, Real Estate, ,
Homes are more than just a building. They are filled with memories of children taking their first steps, holidays that were celebrated with family members and friends, and Super Bowl parties filled with smiles and cheers. These memories are priceless; however, people cannot let emotions cloud their judgment when they are trying to sell a house. Instead, it is important to focus on the building. There are a few tips that everyone should follow as they try to figure out how much their home is worth. Be Reasonable The first tip is not to price a home too high out…
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20 Aug 2020
By noelkelman

The Pros and Cons of Buying a New Home Versus Buying Pre-owned

Home Buyer Tips, ,
Are you thinking about buying a new home? Congratulations! Buying a house, condo or townhouse is an exciting and rewarding time which tends to be a lot of fun. However, along the way you'll need to make a number of decisions – including whether you want to buy a pre-owned home or one that has been built recently and is brand new. Let's take a quick look at some of the pros and cons of buying a new home versus buying pre-owned. New Homes Tend To Have Fewer Problems One of the major upsides of buying new is that newly-built…
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19 Aug 2020
By noelkelman

Applying for a Mortgage? Three Questions Your Lender Will Ask You – and How to Prepare Your Answers

Home Mortgage Tips, ,
Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. That means your lender will be asking you several questions about whether or not you can afford a mortgage. Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval. How Stable Is Your Income? Your lender is going to want to know that your income is going to be stable over the life of the loan. This means that you should…
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