Buying a home

Renters Have the Advantage Over Home Owners

Good Morning Friends!  It's Friday!

I have just been thinking a little bit about renters.  I am geeking out on real estate facts here.  So, I just wanted to share with you a little bit of what I have been thinking about and why renters have the advantage in buying a house over current home owners.

There are a couple reasons for this:

1. Renters are free to act. They see a home come on the market, they are pre qualified.  They can get that house, the can put an offer in.  Usually in a multiple offer situation, a seller is going to choose a buyer that doesn't have complications.  A renter that dosent' have to sell a home first is pretty appealing, especially if that home owner is wanting to buy a house as well.  They don't want to be contigent upon a contigency.  So renters look much more apeealing in that situation.

2. ...

First Time Buyers Face Obstacles On Path to Homeownership

First-Time Buyers Face Obstacles on Path to Homeownership

For people with good jobs and strong credit, today’s real estate market is an attractive one - with low mortgage interest rates and continued affordability. However, some buyers, especially first-time buyers, are struggling to enter the market and don’t always find the home buying process easy.

According to the National Association of Realtors...

10 Ways To Prepare for Homeownership

10 Ways to Prepare for Homeownership

  1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
  2. Develop your home wish list. Then, prioritize the features on your list.
  3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.
  4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.
  5. Get your credit in order. Obtain a copy of...