Real Estate
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Should You Buy Down Your Mortgage Interest Rate
Rising interest rates can be a major concern if you’re shopping for a new home. A higher rate reduces your buying power and increases the home cost thousands of dollars over the course of the loan. One option to avoid this is to “buy down” your loan rate. This allows you to purchase your home at a more attractive rate. A rate buydown is when you pay an upfront fee in exchange for a lower interest rate. This increases your closing costs and for every 1% of the purchase price you pay in points, your mortgage interest rate is reduced. Buying a lower interest rate may be a good strategy…
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Two Ways Homebuyers Can Win in Today’s Market
Navigating a Sellers Market This Spring It’s no secret that many prospective homebuyers are finding the current realestate market challenging. One of the more unexpected consequences of theCovid pandemic was the hyper-focus on one’s home. This has resulted in a robustmarket where sellers are seeing advancing home sales prices and multiple offers.While competition is fierce, clearly for sellers to sell, they need buyers. If your goalis to find a new home this year, there are a couple ways you can maximize yourability to have your offer accepted. Two Ways Homebuyers Can Win in Today’s Market Act Early – There are a couple reasons why home buyers should start earlythis year.…
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Return on Investment Explained
Let’s talk about one of the most critical real estate terms out there: return on investment aka ROI. If you have any investments or you’re looking at real estate, you’ve probably heard ROI thrown around a bunch. But what does it actually mean and why should you pay attention? ROI is the amount of money you get back on an investment you’ve made–like real estate. For example, if you buy a house for $350,000 and then, after a few years, sell it for $450,000, you’ll have made all of your money back plus $100,000. That’s a pretty good investment. But ROI isn’t just important when you’re buying or selling a…
