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To
Stretch or Not To Stretch, That Is the
Question
When
looking for real estate, buyers often
discover that no matter what price range
they explore, the house they Really want
to buy, the house containing Everything
on their current "wish list",
is always just out of their reach.
With
interest rates low, and housing prices
on the rise, justifying that
"stretch" to get your dream
house may be easier than you think. Here
are some reasons to contemplate
increasing the price range of your home
search.
Other
People's Money: The leverage you gain
using Other People's Money is one of the
nicest parts of buying a home.
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With
interest rates attractively low,
you may find you have the
ability to qualify for a higher
mortgage amount than you
originally thought. A small down
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Should
I Take My Home Off the Market During the
Holidays?
When
you look at your November and December calendars
you may find the months already overloaded with
seasonal obligations -- shopping, entertaining,
children's pageants, charity work, decorating
the house, and so much more. If you are also
trying to sell your home, you are under extra
pressure to keep your home in "showtime"
condition. And that could be the last thing you
need before the holiday spirit is broken.
It is
understandable why you would be tempted to take
your home off the market during the holidays.
And the list of justifications is long. If you
are too busy, buyers may be also, and you may
find your efforts unrewarded by enough showings.
And what if you do get an offer? You may be
faced with the possibility of packing and moving
during the busiest time of the year. Besides,
you can give your house a rest, and it will have
better momentum after the holidays. Better to
just pack it in and start fresh in January,
right?
But wait! Most
top Realtors agree that taking your home off the
market during the Christmas season is a mistake.
The house sure isn't going to
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Is
Your Neighborhood
Kid-Friendly?
Every
kid's dream is to live in a neighborhood
occupied by other children their age. It's a
parent's dream, as well. After all, what parent
doesn't dread hearing the words "I'm
bored" come summertime? Young families who
reside in neighborhoods primarily occupied by
older people face a dilemma. Their kids are
going to need frequent transportation back and
forth to the houses of friends who live in other
neighborhoods. This inconvenience is minor,
however, when compared to other, more serious
issues related to the relative
"kid-friendliness" of a neighborhood.
What if you live
around the corner from a popular watering hole
that attracts unsavory types on a nightly basis?
Or perhaps you move into a neighborhood based on
the belief that the area is good for children -
only to discover later your town's plans for an
adult-themed business within walking distance.
You don't have to
be taken off guard. Actually, if you keep your
eyes and ears open during your home-search
process, you'll probably find some clear
indicators as to whether or not the neighborhood
you're considering will be a good choice for
your growing family.
The importance of
driving around a neighborhood in the morning,
afternoon and late- night hours cannot be
understated. Don't rely on just one daytime
drive-through because many
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Pre-Approval
Versus
Pre-Qualification: Is There A Difference?
What's
the difference between someone who is
"pre-approved" for a loan and someone who is
"pre-qualified?" Is one better than the other?
And if so, how?
These questions arose
from a letter I received and seemed worth pursuing --
after all, if one approach is better than the other,
wouldn't that be helpful to borrowers?
In general terms, the
idea behind pre-qualifying is this: You're a home buyer.
You do not have enough money to buy for cash (do not be
distressed, this makes you absolutely normal). The
result: Your ability to buy depends on your ability to
borrow, so it makes sense to speak with lenders before
looking at houses to check your mortgage power and
consider which loan program might be best for you.
So, lender Jones offers
to "pre-qualify" you while Lender Smith has a
"pre-approval" program. Which is better?
Daily
News and Advice
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Real Estate market today, find current interest
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