INTEREST RATES ARE AMAZINGLY LOW!!!

Have you seen the most recent MORTGAGE RATES? 

 

At these rates, you should definitely investigate buying a home, investing in a secondary property, or becoming a landlord.  

In fact, if you are currently renting and don't think you can afford to buy a home, you should seriously consider buying a duplex or another multi-family property. You could own your own space and rent the remainder for MORE than your MORTGAGE PAYMENTS! Imagine being PAID to LIVE IN YOUR OWN HOME! Better yet, money spent on improving the property counts against any income you may make! 

Here is a look at some of today's rates:

 

30 Year Fixed Rate: 

Interest Rate
4.375

Points
0.125

APR
4.468 

 

5/1 ARM

Interest Rate
2.875

Points
0

APR
3.065

This rate may increase after consummation.

 

 

 

Jumbo 30 Year Fixed Interest Rate
5.000

Points 0.125

APR

5.049

Now that you are ready to learn more about New Hampshire homes, click here.

When is the Right Time to Prepare my House FOR SALE?

One question I have been asked recently is When is the right time to prepare my house For Sale?

The answer to this question is similar to the answer to "When is the right time to save money?" Begin as soon as possible.

What I mean by this is you should always have a sense of how much your home is worth, not just the appraised value determined by a  certified appraiser and used by your lender to determine what percent of your home you own versus owe; nor just the assessed value determined by your local tax authority (usually your town) to determine your home's tax rate; but also the Comparative Market Value,determined by a Real Estate Professional who compares the features of your home with those of similar houses that have sold recently (usually within the last 6 months) and prepares a Comparative Market Analysis or CMA for you.

To get a CMA, Contact your favorite Real Estate Agent and ask him or her to help you determine the price you should be able to get if you were to list your house today. Then take a look at your house and ask your self the following questions:
* What is the general condition of your home?
* What major repairs do you anticipate within the next few years? Are you on year 18 of a 20 year roof? Is your siding in good condition? Are there major cracks in your foundation?
* Does your Kitchen have matching appliances that are in reasonably good condition? Are your counter tops and cabinets in good shape? How do your bathrooms look? What repairs might they need?
* How is your curb appeal and what is your yard like? Would it benefit from some minor landscaping changes such as some established flower beds or some mature trees? Do you have trees scraping your house that really should be cut back or removed?

By determining which of these features are in great condition, good condition, and poor condition, you can set a priority list of items to work on over however much time you plan to live in your home, whether it is another twenty years or twenty months. This will also allow you to budget your time and funds appropriately for your lifestyle.

If you live in New Hampshire, click here to begin the process of getting a Market Analysis of your home.

How do I Know if I am Ready to Buy My First Place?

Recently someone asked me how she would know if she was ready to Buy her First Home, and what Steps to Buying a Home she should take. Here is what I suggested:


First and foremost, it is important to know your numbers. What I mean by this is that you should know how much money you have in savings and other equity, how much debt you have (credit card bills, student loans, car loan, etc), and what type of support you may have from other people to help you buy a home (a gift from your grandparents, an interest-free loan from your aunt, etc).

Second, it is important to have a great REALTOR®, one who can help you identify the most important aspects of your home, narrow down the search to relevant properties, assist you in tracking a particular real estate market, and coach you through the process.

Third, your REALTOR® should help you connect with a LOCAL MORTGAGE LENDER, such as Tiffany Leibsch of Sovereign Bank  or a LOCAL MORTGAGE BROKER such as  David Duplesis of Equity America  who can help you sort through all of your financial information and come up with a savings plan or identify a mortgage program such USDA, FHA, VA, or Conventional Loan that you already qualify for.

Why a Local Lender? Your REALTOR® and your lender need to work hand in hand through the process. With on-line lenders or lenders who may be across the country, they often do not know local real estate  laws, tax rules, and contract terms.This lack of information can lead to major headaches later on in the process. Additionally, the better the relationship between your REALTOR® and your Lender, the smoother the process will go.

Click here for more information about New Hampshire Real Estate and feel free to sign up for regular email updates about properties you might be interested in.

coincidences

I think it is amazing how you can put a thought out into the universe and then something related to it just happens. I was thinking about my desire to work with some new clients, and said so to one of my colleagues. Shortly thereafter, I received an email from a friend asking me if I could show her a particular house as soon as possible. Amazing! :-)

Need Help with your Mortgage?