July 2015 RSS Feed

Good Afternoon Readers,

Today I will be discussing first time buyer mistakes to help you avoid making the same ones….

1) Stop thinking you won’t qualify for a mortgage: Why get less than your dream home?The right Real Estate Agent and Mortgage specialist can help you reach your goals in getting your dream home!

2) Not knowing all your down payment choices. 

3) Stop focusing too much on interest rate, rather than a solution! Do you know that with variable rate mortgage, your payments remain the same, regardless of fluctuating interest rates.

4) Stop being unrealistic about your dream home. Of course I said don’t settle for a home you are not happy with, but at the same time don’t buy a home you simply cannot afford!!

5) Don’t forget…

Good Morning Readers,

Excited to say that I will be finishing up the Real Estate Alphabet today! Here are letters R-T

 Revolving Debt:  A credit arrangement, such as a credit card, that allows a customer to borrow against a preapproved line of credit when purchasing goods and services. The borrower is billed for the amount that is actually borrowed plus any interest due.

Second Mortgage: A mortgage that has a lien position subordinate to the first mortgage. 

Second Loan: A loan that is backed by collateral.

 Subdivision: A housing development that is created by dividing a tract of land into individual lots for sale or lease.

 Title Insurance: Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against…

Wow property! Beautiful, elegant home with gorgeous view on the Lake. Total of 3 bedrooms,3 full bathrooms, it is loaded with lots of extras such as air conditioning, over sized heated garage, high end appliances, in-floor heating, custom built gas fireplace, vaulted ceilings. Master bedroom has walk-in closet, 5 piece ensuite complete with Jacuzzi tub and full steam shower. Downstairs offers bedroom, full bathroom, amazing entertainment/games room, an access to the covered stone patio. This executive property is beautifully landscaped with custom stone fountain and fire pit, exposed aggregate driveway, large balcony overlooking the lake. Beautiful home with a beautiful view of the lake, it will make you feel like you are on vacation. Please, call for…

Good Morning Readers!

Hope everyone had a wonderful weekend and got to spend some time with family and friends. Today I will be covering letters M-R of the real estate alphabet

Mortgage : Legal document that promises a property to the lender as security for payment of a debt. 

Mortgage broker: A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals. 

Original principal balance : Total amount of principal owed on a mortgage before any payments are made.

Owner financing: Property purchase transaction in which the property seller provides all or part of the financing.

Partial payment: Payment that is not sufficient to cover the scheduled monthly payment on a mortgage loan. In most cases, a lender will…

Good Afternoon Readers,

Hope everyone is enjoying the beautiful weather! As promised today I will be going through letters E-L

Equity: Homeowners financial interest in a property. It's the difference between the fair market value of the property and amount that is still owed on mortgage.

Estate: Ownership interest of an individual in real property. The sum total of all real property and personal property owed by the individual at time of death.

Exclusive listing : A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.

Fair Market Value: The highest price tat the buyer is willing but not yet convinced to buy and the lowest price the seller is willing to accept.

…

Hi Readers!

 Sorry that I’ve been MIA for a few months now but I am back and ready to share informal and insightful information about our beautiful city’s real estate market. With summer amongst us now is the perfect time to find your dream home, many times I find that clients get confused by Real Estate terms so I’m here to help you with the ABC’s of the Real Estate language… Today I will do A- D!

 Appraised value: An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property.

 Assessment: The placing of a value on property for the purpose of taxation.

 Adjustable rate mortgage: A mortgage in which the interest changes periodically, according to corresponding fluctuations in an…