The benefits of buyer’s pre-approval are without question; it is good for the buyers, the sellers and the agents. It saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include: Amount the buyer can borrow decreases as interest rates rise Looking at “Right” homes – price, size,… Read more »

Whether you’re refinancing your current home or buying a new one, something worth considering is a 15 year loan rather than a 30 year term. The payments will be a little higher but you’ll get a lower interest rate and you’ll build equity much faster. Let’s look at an example of a $200,000 mortgage with… Read more »

“Anyone may arrange his affairs so that his taxes shall be as low as possible…for nobody owes any public duty to pay more than the law demands.” Judge Learned Hand This opinion refers to federal income tax but the logic and spirit can easily be applied to any tax including property tax. Most property tax… Read more »

Some residents of Augusta, Georgia have purchased tickets to the Master’s for years but have never attended the famous golf tournament. It’s because they include the tickets as a bonus to the people who rent their home during the event. Each year, owners rent their home for a big premium during the Masters and make… Read more »

Personal computers have been around long enough that everyone has experienced or knows someone who has lost their data due to a hard drive crash, accident or burglary. If they had a backup, the loss was inconvenient but not critical. Do you have a backup for your personal belongings? Not that you need duplicates of… Read more »

Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone. There are programmable thermostats available at home improvement… Read more »

If you’re looking for a full service residential or commercial junk removal company, ‘The David Olson Team’ (www.DavidOlsonRealEstate.com) recommends ‘Junk Command’  (www.JunkCommand.com). They’re local, reliable, affordable, and offer great service!  IF you have old appliances, random ‘stuff’ you want to recycle or or throw away…. Call Junk Command today!

A recent U.S. Tax Court ruling clarified the IRS position that the $1.1 million limit for mortgage interest deduction applies per residence and not per taxpayer as some high-priced homeowners were hoping. A married homeowner filing jointly can have fullly deductible interest on a mortgage of up to $1,000,000 of acquisition debt and up to… Read more »

Have you ever had a service company to your home to repair something and find out that it really wasn’t “broken”? It probably conjured up ambivalent feelings of joy that it wasn’t something serious and frustration that you had to pay a service call for something so simple. Before you call the repairman next time,… Read more »

Occasionally, you hear about an important recall on a product you have and you take care of it immediately. However, if you were to miss such a notice, it could put you or your family in jeopardy. You can subscribe to the U.S. government’s service to notify the public when recalls are made on vehicles,… Read more »

The Mortgage Forgiveness Relief Act of 2007 was passed by Congress to avoid additional financial hardship that some homeowners might experience due to a foreclosure or short sale. The law affects mortgage relief that occurs from January 1, 2007 to December 31, 2012. Normally, IRS considers partial or total debt forgiven by a lender to… Read more »

The Housing Affordability Index was developed over thirty years ago to help consumers determine when it is a good time to buy a home. It’s considered advantageous to the buyer when the index is over 100 because a median income family can qualify for a median price home. Recent figures released by the National Association… Read more »

http://www.youtube.com/watch?v=KEG5HN_f92w

What are the top 5 reasons that influence a financially qualified and realistic home buyer in today’s market? The National Association of Realtors has done numerous studies and the results are the same. 1. Location & Neighborhood, 2. Layout, 3. Curb Appeal, 4. Condition, 5. Price.

This information is very value to know because a home seller can only have control of two of the 5 variables. Condition and Price. If a home seller is unwilling to update the condition or fix the any issues, then the ONLY way they can increase value in the eyes of a buyer is with PRICE. In today’s market a home seller has to be priced competitive AND compelling.

FHA has raised the annual Mortgage Insurance Premium to 1.25% beginning April 1st. MIP is required on all FHA loans and used to fund losses by lenders for borrowers who default on their mortgages. As of June 1st, FHA loans in excess of the standard maximum of $625,500, in high-cost areas, will have a premium… Read more »

Regardless of what a lender quotes on mortgage rates, the actual rate paid by a borrower is based on a number of variables. Lenders determine whether to loan money and at what rate based on the risk involved with the transaction. Factors that increase the risk that the loan will be repaid will proportionately increase… Read more »