Throughout the home buying process, you are going to hear many terms that you may not be familiar with. A Realtor may talk to you about a home’s value or about what they found doing a CMA, comparative market analysis. Your lender might talk to you about your debt-to-income ratio or the latest mortgage interest rates. Fortunately, you don’t need to know all of these terms…
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Buying your first home can be nerve-wracking, not to mention downright expensive. While it may seem tempting to cut your purchase expenses, resist the urge to skip the home inspection. Why? A home inspection helps you identify health, safety, and repair issues that you may need to ask the seller to remedy prior to closing. It can…
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A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that…
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A short while ago, I noted that an analysis by Redfin found list prices had already dipped by 6.4% from March to April. This was, as many thought, the first sign of a general decline in housing prices. It turns out that that’s not what has happened (thus far, at least). The Wall Street Journal reported: “The economy is shrinking,…
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What Is a Contingency? A contingency is a clause in the contract that defines a condition or action that must be met for the sales contract to become binding. Both parties, the buyer and the seller, must agree to the terms and sign the sales contract, contingencies included, to become binding. These added clauses enable you…
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So you’re ready to buy a house, but you aren’t sure how long this whole process is going to take. While each deal is different and can vary in a multitude of ways, for the most part, buying a house is pretty straightforward. Assuming that you are going to be taking out a loan for the purchase of…
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There’s nothing worse than sitting around waiting—especially when you’re waiting for a seller to respond to your offer on the biggest financial decision of your life. Yes, it’s excruciating. Unfortunately, waiting comes with the territory when you’re buying a house. But how long you have to wait is the bigger question. While there’s no official rule…
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If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this…
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Things to Consider When Buying a Home The process of buying a home can be overwhelming at times, but you don’t need to go through it alone. You may be wondering if now is a good time to buy a home … or if interest rates are projected to rise or fall. I put together a free…
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