While the U.S. is still in the midst of a strong home sellers’ market - where purchase prices can often be significantly higher than the asking price - there are still some homes that are languishing with their owners hoping for even just one interested buyer.
With all of the action going on in the real estate market, it could be a good time to purchase a new home – especially given the low mortgage rates. But before you make a decision about what is oftentimes the largest purchase of a lifetime, there are some other factors to consider, particularly with rising home prices and a shortage of properties for sale.
If you’ve caught the new home bug, now could be a good time to make a purchase – especially as mortgage rates continue to linger at an all-time low. But as you consider the wish list of ideal features in your next abode, you may be weighing out whether building a home or purchasing an existing one would be best.
Overall, closing costs can typically range from 3% to 6% of the purchase price. So, if you’re buying a home that costs $300,000, you can anticipate that the closing costs will be between $9,000 and $18,000.
Overall, closing costs can typically range from 3% to 6% of the purchase price. So, if you’re buying a home that costs $300,000, you can anticipate that the closing costs will be between $9,000 and $18,000.
With mortgage rates still at historical lows, financing – or even refinancing – a home can be enticing. When it comes to borrowing money for a home, many people automatically default to a 30-year mortgage – primarily because the payments are stretched out for a longer period of time, which can equate to a lower dollar amount that is due each month.
With the year 2020 now in the rearview mirror, its almost time to start thinking about filing your income taxes. If you have recently moved – or if you plan to do so in the future – you may find that there are some tax-related benefits on both the buying and selling end of the deal.
As the seller of a home, one of the sweetest sounds you can hear from your real estate agent is, “You’ve got an offer.” This is particularly the case if the buyer is well-qualified, and a final price is agreed on by both the selling and purchasing parties.
It is a fact of life that appliances and other home systems – like air conditioners, water heaters, and sinks – will eventually have to be repaired or replaced. And, depending on what is needed, the cost could set a homeowner back by three-, four-, or possibly even 5-figures.
With the 2020 presidential election quickly approaching, it is sure to be one that is remembered for many years to come. Oftentimes, election results can have an impact on the stock market. But what about real property values?