By Mike Colpitts A surge in home buying activity is expected to develop as a result of the Federal Housing Administration’s announcement that it will increase charges to home buyers for upfront mortgage fees. The cost of mortgage insurance premiums will rise by 75 basis points April 1st. The increase translates to $750 for every… Continue reading FHA Hike Triggers Home Buyers Surge
Category: Buying
Drop in Mortgage Rates Felt
By Mike Colpitts Rates on fixed rate home loans dropped this week, falling to near record lows again for 30-year and 15-year mortgages, but budged higher on adjustable rate loans, according to Freddie Mac. The drop on fixed rate loans sends mortgage rates to near all-time record lows, hitting 3.90% just three basis points off… Continue reading Drop in Mortgage Rates Felt
Steps to Find the Best Real Estate Agent in Today’s Market
By Kim Olson Finding “just the right home for you” can be daunting, especially if you’re moving to an area that you’re not familiar with. Fortunately, a good real estate agent can really make the process much easier. Follow these steps to find the best real estate agent in today’s troubled market, and your search… Continue reading Steps to Find the Best Real Estate Agent in Today’s Market
Cash Buyers are King
By Mike Colpitts Pent up buyer demand and much lower housing prices are driving a frenzy of sorts in some home markets as cash buyers turn out in droves to buy up properties on the cheap. Cash is once again king in the real estate market. When markets take a downturn cash buyers snap up… Continue reading Cash Buyers are King
Home Buyers Avoid Foreclosure Properties
By Mike Colpitts A large number of home buyers are refusing to even look at considering distressed properties for sale, according to a monthly survey of real estate market conditions by Campbell Mortgage Finance as prices on foreclosures that are selling continue to fall. Four major national lenders have frozen foreclosure sales as a result… Continue reading Home Buyers Avoid Foreclosure Properties
Home Buyer Purchases Surge
Purchases of homes surged to the highest level since May last week, according to the Mortgage Bankers Association as home buying activity showed signs of rising, despite the expiration of the federal tax credit. The seasonally adjusted purchase index rose 9.3% from a week ago as buyers turned out in larger numbers to take advantage… Continue reading Home Buyer Purchases Surge
Renting Versus Buying a Home
The question of whether to rent or buy a home hasn’t been at the forefront like these days in more than 50 years. But the real estate collapse is adding pressures to a major economic decision that could either help or hinder the future of millions of Americans. Homeownership represents a great source of personal… Continue reading Renting Versus Buying a Home
Buying a Home after Foreclosure
By Lindsey Hadwin Of the millions of Americans who have lost their homes in the foreclosure crisis, many dream of buying a home again. As a result of more than 19.2-million vacant homes nationally, securing a mortgage in the future is possible in less time than ever before. Re-establishing creditworthiness can provide a key to… Continue reading Buying a Home after Foreclosure
Home Buyers Deadline Nears
Home buyers looking to take advantage of the federal government’s tax break need to get moving if they want to meet the deadline to get the credit. The tax credit, which offers up to $8,000 to buy a new home is only available on purchases that go under contract before May 1st. The federal tax… Continue reading Home Buyers Deadline Nears
Top Homeowner Spring Maintenance Steps
Spring has sprung, and before you let the kids run wild and invite neighbors over for a barbecue you might want to make sure your home is safe. Matt Lederer, a Chicago based builder offers eight steps that can save you money, time and keep your family safe. “Spring is the season of rebirth and… Continue reading Top Homeowner Spring Maintenance Steps