January 4, 2019 rummy

Paying off mortgages takes time, but it’s helpful to know that there are ways to shorten your mortgage payments by months or even years. Here are some ways to help you beat the loan clock legitimately and save thousands of dollars in the process. Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well. When you make ‘extra’ payments toward your loan, the key…

January 2, 2019 rummy

In our previous posts, we have shown why we believe we are far from another housing crash in 2019. Here’s a few more reasons to put your mind at ease. 1. There are fewer foreclosures now than there were in 2006 A major challenge in 2006 was the number of foreclosures. There will always be foreclosures, but they spiked by over 100% prior to the crash. Foreclosures sold at a discount and, in many cases, lowered the values of adjacent homes. We are ending 2018 with foreclosures at historic pre-crash numbers -much fewer foreclosures than we ended 2006 with. 2….

December 27, 2018 rummy

If you’re a seller who has experienced an expired listing contract. If you’re wondering why others sellers are able to sell their houses successfully and you’re being left out. Or thinking of selling your home and don’t want to end up like the ones mentioned above, then you definitely have to read this. Below are the 5 most common reasons why a listing contract will expire: 1. The Price Sometimes when the market is hot, homeowners attempt to set their listing price higher. Their hope is that a motivated buyer will be willing to pay any price for a house…

December 26, 2018 rummy

Some may see it as counter-intuitive to list their homes up for sale in the market this winter. The season actually holds some advantages, these are 5 great reasons to sell. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the…

December 21, 2018 rummy

Buying your own home can be intimidating and requires a lot of preparation, on top of this; we all have our own personal reasons why we chose renting over owning a home. According to our trusted source, there’s about 74% of renters planning to own a home in the future. We totally agree, and for one good reason, rising rental cost is upon us. According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying in the next 5 years, with 38% planning to buy in the next 2 years! When those same renters were…

December 20, 2018 rummy

Unbeknownst to many, homeowners increase their family’s overall net worth simply by paying off their monthly mortgage. Unlike like with renting where you merely put your money out for time used, homeowners get a positive kickback from their monthly payments through home equity. Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES). The latest data from their Q4 2018 Survey revealed that home prices are expected to…

December 18, 2018 rummy

Although we have seen the reports, analyzed the forecasts and enjoyed the projections of a stabilizing market of the real estate industry across all states. One thing that buyers should be concern about is the projected mortgage interest rate increase by the Q4 of next year. The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Insights Report, home prices will appreciate by 4.8% over the next 12 months. What Does This Mean as a Buyer? If home prices appreciate…

December 17, 2018 rummy

Back then, before the historic real estate bust in 2008, homeowners used their house as like ATMs through a method now known as “Cash-out Refinances”. This basically turned their equity into cash leaving most owners with little to no equity in their homes. When the prices started to fall, many found their houses in a negative equity situation so they stopped paying their mortgages altogether. This time around, homeowners are being careful and more responsible. Today, the equity situation is totally different. According to a new report from ATTOM Data Solutions more than 1-in–4 homes with a mortgage have at…

December 13, 2018 rummy

As we pointed out in countless of our previous posts, there is a lot to gain from owning a home than renting. Today let us take a closer look on one of them; we have collected reports and surveys from the best sources proving the net worth of a homeowner is over forty times greater than that of a renter. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013). These…

December 12, 2018 rummy

If you are planning to buy a house, knowing the interest rate at the time of your purchase will give you an idea on how much your monthly payment will look like. Keep in mind that even the slightest of change in the interest rate could significantly increase or decrease your mortgage depending on your loan amount. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019. How Will This Impact Your Mortgage Payment? Depending on the amount of the loan that you…