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Are You A Real Estate Investor Or A Circus Performer?
Does the stress of monthly rent collection and after hour plumbing problems make you feel like a performing seal at the circus? You're trying to keep a spinning beach ball balanced on your nose, at the same time that you're wildly clapping your...
Home Pest Control: Battling Against Mosquitoes on the Home Front
In addition to the fact that mosquitoes are both annoying and cause some level of discomfort when you’re unfortunate enough to be the entree on their daily menu, they also carry disease which can affect the animal, bird and human populations. In...
Pending Real Estate Bubble? How To Profit In Any Market
With all the talk of a pending real estate bubble or falling sales prices, real estate investors need to guard their money and find new ways to make money. No matter what the market does, you can make money investing in real estate when you know...
Real Estate Terms – From Condominiums To Deeds Of Trust
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with "condominium."
1) Condominium - A type of ownership in real...
San Francisco Real Estate: Buyer's Market? Seller's Market? Both?
San Francisco real estate, one of the USA's supposedly "frothiest" real estate markets, is no longer an instant jackpot for sellers–now it's just a jackpot. Buyers, though still facing high prices, now have enough time to actually think an offer...
Selecting Replacement Windows
Windows are the eyes of a home. From inside, you see the outside world through them. It has been said that the eyes are the windows to the soul. For a home, you can gain a sense of its character by examining its windows. Windows are the primary...
So You Want To Be A House Sitter? Here's How To Find A House Sitting Assignment (And You Won'T Be Paid A Cent For Your Efforts)
The kinds of house sitting opportunities I'm about to tell you about are available to anyone, anywhere with an email address who can get online to check for offers of house sitting jobs (and then transport themselves to the owner's property of...
Ten Questions To Ask Your Villa Rental Agent
How do you select an effective Villa Rental Agent? As you would selecting any skilled, specialized consultant and using your own instincts for identifying a talented, committed and professional firm. Another important yardstick is the depth and...
The Market Value Of Your Home
Professional appraisers sum it up in three words -- buyers make value. Ultimately, the value of your home is what a reasonable buyer is willing to pay within a reasonable time. Setting an asking price for your home requires that you anticipate what...
To Picket Fences
The "fence height" controversy has traveled to the California communities of Burbank, Los Angeles, Santa Monica, Richmond and Glendale where angry homeowners have flocked to city council meetings—often breaking attendance records--to...
Wealthy Americans Confident Real Estate Boom Will Last
Linknet Real Estate News Digest - December 22, 2005 - In spite of worrying signs that the real estate market is slowing down, a survey of wealthy Americans indicates most remain confident property values will continue to appreciate.
In a survey...
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Buying A House Or A Home?
A house is just that, a house, until someone lives in it. That's when it becomes a Home. There's a big difference. At our house, we always say our home is "well lived in." And, with a family of six, four of them being between the ages of 9 and 15, this house has no choice! Our house, being in the family for over 65 years, is a well seasoned "home."
Who wouldn't love to live in a luxurious home with all the newest gadgets and high tech inventions? Well, I would venture to guess that most of us have thought of it. But, what's really important when you consider buying a home?
If you're a seasoned home shopper you may already have learned from experience what type, location, and price of home is good for your family. Setting some guidelines and priorities is a good way to start the hunt. First, make a wish list. This is a great starting point for anyone and will help get your priorities in order! Knowing what you want or need is half the battle.
This will include some essential questions you need to ask yourself also like, what you can afford?, are you willing to do renovations and how much?, and lists specific needs for your family.
Location, Location, Location...
Location can be flexible for some families, but must be specific for other families. Work, disabilities, and children are just a few factors that can influence location necessities or desires. For instance, if you don't want to commute long distance to work you will need to consider travel time to work. If you or a family member have disabilities that require special treatments or services, you will need to consider travel time to current providers, or consider availability of services in the new location. Local schools, and their reputations, will play an important role in location for those families with children, as well as neighborhood safety.
Affordability
There's no satisfaction in qualifying for a loan that you can't afford! Consider your other obligations and how the new payment will affect your budget.
Sometimes, scrupulous mortgage brokers and lenders don't really consider if you can actually "afford" the loan for your home. They boast that they can get "anybody" a loan. That's easy when you don't really care about the final results.
Besides, it's a secured loan, which means, your commitment is secured by your property. They'll simply take your home if you don't meet your commitment. So, be careful. Always use a reputable company for your mortgage needs. They may not tell you what you want to hear, but they'll look out for your best interests.
GinnieMae.gov has a calculator to help give you some idea how much you can afford. Always live within your means to prevent self-created financial disasters.
When you know what you can afford, shop and compare. Hud offers a great home buying booklet at http://www.hud.gov/buying/booklet.pdf, Looking for the Best Mortgage, that answers questions and prepares homeowners for the mortgage shopping experience. There is even a form for you to keep track of home loan comparisons.
Don't be a Victim of Loan Fraud
The Federal Citizen Information Center warns consumers to protect themselves from predatory lenders! Before you make a final decision, take the time to review the 11 Tips on Being a Smart Consumer at http://www.pueblo.gsa.gov/cic_text/housing/loanfraud/loanfraud.htm
When looking for a mortgage, don't forget to ask about specialty loans. You may qualify for specialty loans if:
~You're a Teacher
~You are purchasing a home that needs remodeling.
~You are a first time buyer
HUD answers 'Common Questions from First Time Home Buyers" at http://www.hud.gov/buying/index.cfm
Whether you're buying your first home or growing into a new home, you'll be successful if you take your time, know your priorities, and research all your options!
Happy Hunting. May the "House" you choose become a happy "Home!"
About the Author: Cheryl Johnson is a mother of four helping herself and others become, and remain, debt free. Publisher of the personal finance site Simple Debt Free Living at http://www.simpledebtfreeliving.com where you can find a free household budget plan and a variety of money saving tips to maximize savings
Source: www.isnare.com
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