The Hawaii Team Real Estate Blog
Seduced by an ARM (Amazingly Risky Mortgage)?
A common myth among people with an ARM (Adjustable Rate Mortgage) is that they can switch to a fixed rate mortgage when they see interest rates headed up. This is like waiting to put on your seat belt before a traffic accident. By the time you react, it is too late. Remember that interest rates float down and jump up.
What is a zero or no cost loan?
This is a mortgage without any closing costs added on to the loan or paid by the borrower. Examples of closing costs would be origination fees, discount points, appraisal cost, processing, underwriting fees, title insurance and recording fees. A mortgage where these costs are added in is not a true no cost loan.
Which Home Should I Buy?
In this week’s market update Dan Polimino tells us why it’s not a good idea to buy the highest priced, most improved home on the block if you think you might sell it one day.
Is your condo FHA approved?
The market value of condos may be further depressed by new Homeowner Association (HOA) requirements set by FHA. FHA loans are the most popular mortgage product for condos because of the combination of low down payment and easier qualifying.
Home sellers need to go see their competition
Fuller Sothebys International Realty Agent Dan Polimino tells us this week why it’s important a seller of a home take a tour of the other properties for sale in their neighborhood.
Perfect, Smart Investment Home for Sale at Highlands Ranch
This wonderful five-bedroom, four bath, 3800 square foot home rests just steps away from a quiet greenway path, and Redstone Elementary School.
Why the ending of the Federal Home Buyer Tax Credit is a good thing………
As most of you know, the end of the tax credit is just a few short weeks away on April 30, 2010. Under the guidelines, you have to be “under contract” by April 30, and then close the transaction by June 30, 2010 in order to receive the either $8000 First Time Buyer credit or the $6500 Move Up Buyer credit.
Showings But No Offers
In this market, sellers now realize that every showing counts, and then counts some more. In fact, nothing is more frustrating for the seller and the realtor than getting a lot of showings, but no offers or nibbles. The question then becomes: “Why is this occurring, and how many showings are normal before getting an offer?”
Down Payment Assistance (DPA) (Part 3 of 3)
In my previous 2 Blogs on DPA, I discussed and tried to dispel some of the myths surrounding down payment assistance. In addition, I highlighted some of the key factors in determining what it takes to qualify for DPA. Today, I will address who are the agencies out there who offer DPA and how doing a little research can help in deciding which program you should consider and how to find out if your lender works with that agency.
What To Do If You Are Not Getting Offers On Your Home
Fuller Sotheby’s Agent Dan Polimino talks about what sellers should do if they are not getting an offer on their home that is for sale. In this weeks market update Dan gives people trying to sell a home some tips and how they can get more showings and how to get an offer to their home quickly.
Been told your credit score is not good enough?
So you are sitting on the sidelines right now missing out of the $8000 First Time Home Buyer Tax Credit because someone at the bank told you that your score was not good enough to buy right now. The banker probably did not provide much more information other than you “need to fix your credit and pay your bills on time” if you want to buy a house.
Attention all First Time Home Buyers…Do you know if you are maximizing your Federal Tax Savings?
Sure, as a new home buyer you are going to get your $8000 tax credit for buying a home (provided you close before the deadlines) and you will begin to “itemize” your tax deductions (real estate property taxes, mortgage interest, and points) going forward each year. All of these can potentially save you allot of money on your federal taxes which one of the many reasons people chose to buy rather than rent.