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How Much Will a Home Cost You?

comments Published Saturday, April 29, 2006 by Real Estate Pro.  


Just some rough, ballpark numbers (using a fixed, 30 year mortgage rate) -
A home loan of $100,000, with a 6.5% interest rate will cost you $632 a month in principal and interest ONLY (not counting taxes, insurance, escrow, closing costs, etc. here).
A home loan of $200,000 at 6.5% interest will cost you $1264 per month (again, principal and interest only).

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How Much Will a Home Cost You?


Hedge Around Your Home

comments Published Friday, April 28, 2006 by Real Estate Pro.  


Miami is also the strongest market since the index began in 1987 and its appreciation has been double that of Denver in the period since. Marc Chandler, an economist at Brown Brothers Harriman and a one-time trader on the floor of the CME, complains it does not provide a like for like guide to prices over time, notably because it excludes the impact of home improvement, which he says contributes to the disequilibrium housing has in the economy.

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Hedge Around Your Home


Buying and Selling: How To Trust Your Realtor

comments Published by Real Estate Pro.  


Do they have any reports on them from the Better Business Bureau? (Yeah, yeah, I know these may just be rubber stamps, but it's better than trusting Joe's Chicken Shack Realtor!) Check the news, public records, anything and everything you can find to get proof your realtor is legitimate and honest. Know your realtor like you know yourself, and don't be afraid to ask questions, find out data, and play the skeptic.

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Buying and Selling: How To Trust Your Realtor


Buying a Home?

comments Published Saturday, April 22, 2006 by Real Estate Pro.  


What’s important to you in the house you want to turn into a home? You want a home that will appreciate in value, so purchase a home that is not the best home on the block, but one you can work on and improve, especially if you are young. Persuasion is a different animal altogether, and if they choose to process your thinking and feeling don’t feel too challenged, they might want the best for you in the long run.

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Buying a Home?


Bridge Loan Financing

comments Published by Real Estate Pro.  


No, we’re not selling you a bridge.
Bridge Financing By: Marc Kahn Sutterwest 575-7600 Bridge financing, as the term implies, provides a bridge from a current residence to a new one, in cases where your client needs the money from the old house to close on the new one…but has not yet sold or closed on the old house. The lender assumes you will sell the old house within 6 months from the purchase of the new one.

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Bridge Loan Financing


Buyer (And Seller) Beware

comments Published Thursday, April 20, 2006 by Real Estate Pro.  


You hear stories about sellers slashing listing prices to attract buyers, but home prices nationally have risen more than 10% over the past year. That leads people to take more risks than they should. The idea here is that if people's monthly payments to own a house are much higher than what they would spend to rent the same place, tax considerations included, then they must be banking on prices going up so they can sell for a profit someday.

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Buyer (And Seller) Beware


Condo Conversions Revert to Rentals

comments Published by Real Estate Pro.  


ET April 16, 2006 Six communities with 1,571 units - three in Broward and three in Palm Beach County - have made the switch from condo conversion sales back to rentals. "A bank that is asked to change a short-term loan for a conversion project to a longer-term loan for a rental project would also probably want to recoup those lost partial release fees at the time of the new loan," Dockerty said.

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Condo Conversions Revert to Rentals


Your Mortgage Application Is For Sale

comments Published by Real Estate Pro.  


Your loan officer may be unaware, but behind his or her back key financial details about you and your mortgage needs are being hawked to competing lenders within 24 hours of your credit bureau inquiry.
Firms such as Mortgage Inquiry Data of Coral Springs, Fla., offer interested lenders nationwide ``access to everyone in your city who applied for a mortgage loan within the past 24 hours.

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Your Mortgage Application Is For Sale


Buying a home with 5% Down? A lot of first time...

comments Published by Real Estate Pro.  


Costs such as the CMHC/GE Mortgage Insurance Premium, Land Transfer Tax (if applicable), Provincial Sales Tax (P.S.T.) and closing costs. Having CMHC Mortgage Loan Insurance means that if you, the borrower, default on your mortgage, the lender is paid back by CMHC. The Mortgage Insurance Premium can either be paid on closing or added to the your mortgage amount resulting in a Total Loan Amount which will be the amount registered on closing.

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Buying a home with 5% Down?
A lot of first time...


Is it possible to get 100% Financing? The foll...

comments Published by Real Estate Pro.  


Equity borrowed from any source that is arm's length or not tied to the property purchase or sale transaction. Downpayments may not be paid out of or included in the insured mortgage.This includes recovery of any lender cash back incentives.
Sources that are not arm's length or tied to the purchase or sale of the property, either directly or indirectly, are not permitted.

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Is it possible to get 100% Financing?
The foll...


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