It can be unsightly and upsetting when a home in a neighborhood isn’t being maintained like the others. It might be an overgrown yard, a fence in need of repair, paint peeling on the home or even a car parked in front of the home that hasn’t moved in weeks. I believe most people want… Read more »

Knowing the current value of your home is important when you’re considering a move, refinancing or getting a home equity loan. Prices are determined by recent sales and the supply and demand of current inventory. The process of selecting comparable properties involves matching similar features like bedrooms, baths, square footage and updates. In addition to… Read more »

The American Dream of owning a home is still alive. People still want a place of their own; where they can raise their family; share with their friends; feel safe and secure. Homeownership creates emotional and financial benefits. The government supports that dream by allowing deductions for mortgage and home equity interest as well as… Read more »

Most people agree that homeownership rules! When asked, people say they want a home they can call their own, to raise their family, share with their friends and to feel safe and secure. It also accounts for the majority of most people’s net worth. These rules can help protect your investment and make homeownership more… Read more »

The question concerning people who’ve had a foreclosure, short sale or bankruptcy is when they will be able to qualify for a mortgage loan. It takes different amounts of time to heal credit scores based on the event. The following chart is meant to be a general guide for how long a person might have… Read more »

Maybe you’re not ready to move into it but that doesn’t mean that you shouldn’t take advantage of the present opportunities to acquire the home you want to live in during retirement. The combination of the low interest rates, reduced prices and lower competition may never be this good again in our lifetimes. The rental… Read more »

The purpose of insurance is to shift the risk of loss to a company in exchange for a premium. Most policies have a deductible which is an amount the insured pays out of pocket before the insurance starts covering the cost of the loss. In the process of managing insurance premiums, policy holders often consider… Read more »

Single-family homes used for rental property have distinct advantages over other types of investments. An investor can borrow 75-80% at fixed interest rates on appreciating assets with definite tax advantages and reasonable control. The financing alone is attractive compared to some investments that require 50% cash and have floating rates at prime plus for one… Read more »

What your home is worth depends on why you ask the question. It could be one value based on a purchase or sale and an entirely different value for insurance purposes. Fair market value is the price a buyer and seller can agree upon assuming both are knowledgeable, willing and unpressured by extraordinary events. This… Read more »

Our American flag is obviously the symbol of our country but it has come to remind us of every man and woman who has fought for the freedom that we enjoy. The emotions that are stirred by images of our flag can run from happiness to sadness to even anger and everything in between. Most… Read more »

While a principal residence and a second home have some similar benefits, they have some major differences. A principal residence is the primary home where you live and a second home is used for personal enjoyment while limiting possible rental activity to a maximum of 14 days per year. The Mortgage Interest Deduction allows a… Read more »

We’ve probably all said or at least thought “if I knew then, what I know now, I would have done things differently.” We should have stayed in school longer. We should have listened to our parents. We should have bought Apple stock in 2002 for $8.50 or gold in 2000 for $300. Years from now,… Read more »

Transferring the title of a home from one person to another may seem simple but it could have a significant tax implication. When a person inherits property, the basis is “stepped-up” to fair market value at the time of the decedent’s death. On the other hand, a gift has a carry-over basis which means that… Read more »

The low interest rates secured by borrowers recently on FHA mortgages may become valuable in a different way in the future. FHA and VA mortgage are assumable at the existing interest rates subject to buyer qualification. Buyers wanting to assume an existing FHA mortgage must be owner-occupants and meet the current FHA guidelines. Applicants should… Read more »

Home is a place you should feel safe and secure. Sometimes, we take it for granted and unfortunately, we do need to remain vigilant about things we do that could compromise our well-being. Here are a few tips you might want to consider. Everyone loves an inviting home including burglars. Make sure it looks occupied… Read more »