Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report: There are more price cuts now than a year ago in over two-thirds of the nation’s largest metros About 14% of all listings had a price cut in June Since the beginning of the year, the share of listings with a price cut increased 1.2% This is...
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Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house? Here are two ways to ensure that you get the highest price possible. 1. Price it a Little Low This may seem counterintuitive, but let’s take a look at this concept for a moment. Many homeowners think that pricing their...
Mortgage Interest Rates Are Still Great! Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment...
20 Tips For Preparing Your House For Sale Highlights: When listing your house for sale our top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! We will have a list of specific suggestions for getting your house ready for market! Contact The Lake Norman Homes Team for a free market analysis and get our...
Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner. CoreLogic recently conducted an...
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to...
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...
Mortgage 101 - What is a mortgage? A mortgage loan to finance the purchase of your home consists of five parts. Collateral Principal Interest payments Taxes Insurance When you agree to a mortgage you enter into a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan, if you fail to repay the debt the lender has the right to...
What You Need to Know About The Mortgage Process What you need to qualify in today's market: Down Payment - Generally between 5-20% of the purchase price. However, many home buyers are putting down 10% or less - with some putting down as little as 3% Income Verification, Credit History & Asset Documentation - the paperwork needed to apply for a mortgage on the balance of the purchase price of...
Their are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage
Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves your community. Let’s expand on...
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of...
Bridgeport on Lake Norman Bridgeport is located in Iredell County, on the south side of Langtree Peninsula and in Mooresville North Carolina. The zip code is 28117. You can find demographic information on 28117 on the City-Data website. You can also find demographic information on the city of Mooresville on the City-Data website. Bridgeport is a waterfront community of 167 homes located on the main...
Home Buying in Six Steps 1) Get Ready for Home Ownership Build a good credit history Get mortgage pre-approval Find out what type of mortgages you quality for Consider hiring an attorney to review all contracts and agreements associated with the home buying process Save up for a down payment (typically 10-20% of property’s value; if FHA-qualified, then possibly less) Consider closing...
Relocating to a new home is a fairly tricky thing to do. You've got a great deal you must focus on, it's in no way easy to get every little thing completed without neglecting something. It could be a hectic occasion for both you and your household. The best way to preserve your peace of mind, along with that of your household, is to be prepared and all set to go. Creating a schedule for your forthcoming...