Thinking About Buying A House? Use This Advice

Buying real estate is something you don’t want to take lightly. When you make your purchase you feel comfortable about it, you want to make sure you have as much information about real estate so. This article is here so you can learn some tips that can help you with buying real estate.
If you are looking at buying a home and fixing it up to make some quick cash, you should first invest in some literature on the process and different books about how you can increase the value of your home. This will help you make the most out of your investment.
Do not hesitate to ask a real estate agent or another real estate investor if you are unsure whether or not a property value is fair or not. Never make a purchase without obtaining the fair market value that a property is worth. This will keep you from overspending on a home.
A great tip to use when buying real estate is to thoroughly vet your real estate agent. You can not just trust anyone to do a good job for you. Make sure that you check out this person’s references, previous properties he or she has sold, and even speaking with those in charge to see how this individual performs overall.
Take your time to search and evaluate, do not just jump on the first thing you see. Many new home buyers make the mistake of buying the first thing they see and end up in a world of regret. You need to do careful research, and make sure that it is the property for you.
To help you get buy real estate effectively, make sure you are aware of the closing costs before you purchase your property. Sometimes, closing costs can be extremely expensive and will add a considerable portion to the cost of your property. Receiving an estimate on closing costs from your real estate agent will help make you better informed on this issue.
This is what is meant by the phrase, buy low sell high. In just about any market conditions, you will be able to re-sell for closer to the full market value, and this approach is much less risky than buying at market value and waiting for the market to go up.
When buying a home try to buy one that has enough space if your thinking about making additions in the future. You may only need one bedroom now, but you might want to buy a home with more so that you will have room for guests and/or new additions to the family.
Make sure you digested all of the information you have just learned about buying real estate. The only way this information is going to be of use to you, is if you apply the information you just learned. If you need to, come back and visit this article from time to time, to make sure that you remember the key points it presents, about buying real estate.
You want to make sure you have as much information about real estate so when you make your purchase you feel comfortable about it. If you are unsure whether or not a property value is fair or not, do not hesitate to ask a real estate agent or another real estate investor. A great tip to use when buying real estate is to thoroughly vet your real estate agent. To help you get buy real estate effectively, make sure you are aware of the closing costs before you purchase your property. Make sure you digested all of the information you have just learned about buying real estate.

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Happy 4th of July From Homes and Equity Real Estate

Happy 4th of July From Homes and Equity Real Estate !!

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What are Bank Foreclosures and Why are they Important?

Real Estate Foreclosures
These days, one of the easiest ways to save money on real estate is to buy bank owned foreclosures. Bank home foreclosures are a unique form of repo homes for sale in cities across the country including New York, Los Angeles, Miami and more. They are available to the public through auctions as a result of the previous owner’s inability to keep up with payments on a mortgage loan. In order to collect the money owed, lending banks will repossess and sell the property and use the sale proceeds as a means of settling the debt.

The interesting aspect of bank foreclosures for sale to potential buyers is that repossessed properties like bank foreclosed homes often sell for much less in this scenario than they ever would on the open market. Since lenders only need to collect a portion of a loan to settle most debt, buying real estate bank foreclosures often means buying property for savings that can range up to 50 % off market value. So whether you’re searching for land in Seattle or an apartment in Chicago, you can find it for a great price!

Save Money Buying Repossessed Homes
No matter what you are looking for, you can find it through the property repossessions market for an incredible bargain. There are all sorts of different distressed properties out there; the bank foreclosure process is not unique to any particular type of home! Once you start exploring the market for bank owned properties, you’ll find that there are apartments, condos, houses and even commercial seized properties and foreclosed land available. And best of all, any of these kinds of property can be purchased for discounted prices at sales in San Diego, Dallas, Seattle, Indianapolis and beyond!

Just as the repo homes market is not limited to one type of property, neither is it limited only to bank repos! There are many different lenders and mortgage institutions out there that sell foreclosed properties, and it’s important to know about all of them in case you decide to take an alternate route to buying bank homes for sale.

Fannie Mae and Freddie Mac are also two incredible sources for finding cheap houses, as they are responsible for thousands of mortgages provided in every state. There really are a lot of options available when it comes to buying homes repossessed by lenders, and some of the best advice a buyer can receive is to explore them all before deciding on the best for your needs.

Investing in Foreclosed Properties
When you choose to invest in bank foreclosures homes or any other kind of REO property, it always helps to have some guidance and assistance, and that’s exactly what BankForeclosuresSale.com aims to provide. We’ll teach you the ins and outs of buying bank repossessed homes and more for the best deals possible, so you can maximize the value of your investment.

Finding Foreclosure Listings

BankForeclosuresSale.com is one of the most effective services for finding the best bank repo homes in cities like Seattle, San Francisco, Baltimore, and anywhere else where property is in demand. Whether you’re looking for places designed for single families or multi families, our database of over 500,000 listings nationwide is the place to find what you need. You can also specially target your search to view property lists for the kinds of sales you want, like those for bank foreclosures for sale or anything else under the sun. We can help make your search for a discount on a property investment painless and truly effective. 

Once you find properties you are interested in it is the perfect time to contact a real estate agent at Homes and Equity Real Estate to help you research more information about the property and eventually inspect and handle the paperwork in the purchase of the property or properties you would like to purchase.



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Northwest Multiple Statistics For May

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Come August, there will be a new roadblock to closing a deal on a house

New integrated disclosure forms will throw a wrench in the homebuying works

 

There’s a shift coming that’s about to wreak havoc at the closing table for agents and clients alike.

On Aug. 1, 2015, the new TRID (TILA-RESPA Integrated Disclosure) forms replace the HUD-1 Settlement and Good Faith Estimate. The Consumer Financial Protection Bureau’s mission is to rebuild the mortgage banking landscape so that the industry will avoid the type of conditions that led to the Great Recession. The CFPB replaces the Department of Housing and Urban Development for oversight because HUD did not provide specific consumer protection.

Everyone agrees that increasing consumer protection is a desirable goal. Nevertheless, the unforeseen ripple effects from these changes could seriously disrupt how the closing process is conducted.

A recent Inman article outlined one of the most serious issues that will result from the new changes handed down by the CFPB: The new rules will require a new three-day waiting period when there are any changes in the TRID forms. The recommendation is to allow an extra 15 days to close your transactions. In other words, 30-day contracts will now require 45 days, and 60-day contracts will require 75 days.

 

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Why is housing inventory so low?

Parsing the reasons why fewer houses are on the market

 

There has been a great deal of discussion regarding the consistently low housing inventory levels throughout the nation. Very little, however, has been written about the reasons why inventory levels are so low, especially following the economic disruption of 2008-2011.

Understanding the why can be helpful in predicting how these factors might influence longer-term supply levels and future appreciation potential. This knowledge might also shed light on why inventory might remain constrained over the long run.

In the second half of 2011 we began to see an acceleration in the decline of inventory levels nationally, and since that time the available housing inventory has continued to remain historically low. The graph (figure 1) below highlights the continuous low-inventory environment.

Why is this so? There are numerous conditions that have contributed to this phenomenon and bundled together have created an inventory control dynamic that, as prices rise, only serves to limit the number of homes available for sale.

 

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America’s Most Romantic Homes

America’s Most Romantic Homes

Can you feel the love in these homes? TopTenRealEstateDeals.com recently highlighted the most romantic homes for-sale in the world, from the mansions of celebrities to the homes where kings and presidents once lived. Here’s a rundown of the homes that made its list:

1. King Edward’s Love Nest

Location: Just north of Chicago

Price: $12 Million

Chicago’s Schweppe Estate once hosted a former King of England, Edward VIII, who left the British throne in 1936 to be spend time with American Wallis Simpson here. It sits on 5.3 acres and features a 24,500-square-foot English Renaissance mansion with 10 bedrooms, 16 bathrooms, and 11 fireplaces, as well as a library, family-game room, elevator, sauna, leaded glass windows, hand-carved limestone stairs, and fountains.

2. The Romance of Remembrance

Location: Suisun Valley, Calif. (near Napa)

Price: $22 million

At the Villa de Madre estate, the owner reconstructed one of the buildings to resemble a 1950s soda shop, where he and his wife had their first date. Also along the estate, he replicated several downtown storefronts – from the grocery store, Rexall Drugs, Harley Davidson, and tackle shop – of where the couple would stroll past when they first started dating. The 80-acre estate also includes 63 acres of vineyards, which produces 150,000 bottles of Cabernet wine annually. The main house includes 22,882 square feet.

3. Romantic Island Retreat

Location: Costa Rica

Price: $29.75 million

This 50-acre oceanfront jungle retreat in Costa Rica belongs to actor Mel Gibson. The Happy Planet Index ranks Costa Rica as the happiest country in the world for its safe streets, gorgeous weather, good medical care, and thriving economy. This estate includes three homes, with the main hacienda-style home overlooking a beach and featuring seven bedrooms, eight bathrooms, a courtyard, and pool.

4. The Romantic Elkhorn Ranch

Location: Big Sky, Mont.

Price: $26.5 million

This 160-acre, Montana estate featuring mountain views belongs to Entertainment Tonight host Mary Hart and husband TV and film producer, Burg Sugarman. It’s located inside the exclusive Yellowstone Club in Big Sky, Mont., a resort that provides a private skiing and lift system as well as an 18-hole golf course. This ranch consists of three building, including a 7,000-square-foot, six bedroom, seven bath main residence, as well as guest quarters and a four-stall horse barn.

5. A Plantation Deep Rooted in History

Location: Off the banks of the James River in Prince George County, Va.

Price: $20 million

This plantation has been designated a National Historical Landmark and has been in agricultural operation since 1607. With a rich history, the plantation once belonged to Nathaniel Harrison, a family that produced multiple governors and two U.S. Presidents, and the plantation also has family ties to William Shakespeare. Thomas Jefferson is credited with designing the central section of the main house as a gift to his friends, the Harrisons. This plantation has more than 4,500 acres – 1,600 of which grow soybeans, wheat, barley, and corn. The farm has 14 structures, including a horse stable, and two-story brick mule barns, a dairy barn, and more. The Palladian styled main house – reminiscent of a Roman country house — is 7,700-square feet with seven bedrooms and seven baths.

6. Sensual Sensation

Location: Palm Springs

Price: $14.5 million

Actress Suzanne Somers home and husband TV host Alan Hamel have been married for 36 years, and have called this romantic Palm Springs home for years. The home is modeled after L’oustau De Baumaniere in Provence, France. It’s located on 73 acres on a mountainside above the valley in Mesa Canyon. The estate features an outdoor amphitheater carved into the mountain that can seat 50, a dance floor, and a pool, spa, hiking trails, and natural waterfall that inches down the hillside.

7. West Indies Hideaway

Location: St. Barth Island

Price: $11.59 million

Actor Steve Martin’s Villa Au Soleil is located high in the hills of Lurin, St. Barthelemy, and includes a 28,191-square-foot, tropical colonial-style home that sits above the Atlantic Ocan. The home features views of the ocean, multi-level terraces, and a two-tiered infinity pool.

8. The Kennedy’s Honeymoon Haven

Location: Beverly Hills

Price: $115 million for-sale, or leased at $600,000 per month

After they were married in 1953, John and Jackie Kennedy honeymooned in this 1920s era Beverly House, which features more than 50,000 square feet in a blend of Spanish and Italian style. The home features gardens, which were used as the backdrop for scenes in “The Godfather,” “The Bodyguard,” “Topaz,” “Into the Night,” among other movies. The estate boasts 29 bedrooms, 40 bathrooms, two guesthouses, and a separate apartment. It is located three blocks from Sunset Boulevard.

9. Water Views Everywhere

Location: Houston

Price: $14.5 million

Actors Ryan O’Neal and Jacqueline Bisset, stars of the 1973 movie “The Thief Who Came to Dinner,” filmed most of the movie at this Houston mansion. The home belongs to the Van Dyke family, and is located on 2.8 private acres, which inclues an 11,737-square-foot home. It features plenty of water throughout its grounds – from pools, waterfalls, pool island with trees to pools in shade; pools in the sun; and a small lake. It also has one of the largest private pools in the U.S. The grounds also feature an orchestra stage with an outdoor kitchen, spa, and guest house.

10. A Private Gulfstream Island

Location: Near the Florida Keys

Price: $5.995 million

Located on the Atlantic side of the Overseas Highway, Melody Key is situated a half mile off Summerland Key. The island can be reached by boat only. The home is powered by solar and features a desalination system for fresh water. The main house has 2,800-square-feet with three bedrooms and two bathrooms and an observation deck to watch sun rises over the Atlantic or sun sets over the Gulf of Mexico. The grounds include a swimming pool and spa surrounded by tropical trees. This estate also comes with a waterfront lot with dock on Summerland Key.

Read more about these romantic retreats for-sale at TopTenRealEstateDeals.com.

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