25 04, 2015

Reasons You Should Purchase a Home in The Spring

2022-11-30T18:56:28+00:00April 25th, 2015|Blog, Buying a home, Tips & Advice|


An upscale neighborhood in spring with flowering cherry trees

With the warmer weather quickly approaching, interest in home buying is increasing. Many folks are ready to get outside and start their house shopping. Here are some great reasons you, too, should start looking for your new home!

Reason #1: Ease of Obtaining a loan

Getting a mortgage is much easier than it was a year ago. Borrowers who may have only been approved for an FHA Loan are now becoming eligible for conventional loans. As the lenders lower their requirements for specific loans it gives the borrowers more options with more competitive rates and terms of the loan.

Reason #2: Rental Rates are on the Rise

Due to the high demand for apartments, rent is on the rise. There are not enough new apartment units to meet demand therefore renters are paying upwards to 30% of their income on their rent. On the contrary home owners are paying about 15% of their income on their mortgage. That is usually enough motivation for renters to save up for a down payment  and pursue home ownership.

Reason #3: Interest in Home Buying is Increasing

As the confidence in the housing market rises among renters as well as current home owners looking to buy again, the market is becoming full of buyers. The sooner you can get out and start looking the better as this will likely increase competition when buyers begin searching for their new home.

Reason #4: Low Mortgage Rates

If this isn’t motivation to purchase a home we don’t know what is! Currently rates are sitting around 4% for a 30-year fixed but they are expected to rise around 5% by the end of 2015. Granted that is not a huge increase in percentage, it can make a difference when it comes to the amount of your monthly payment.

The housing marketing is […]

18 04, 2015

A Guide to Choosing the Right Neighborhood

2022-11-30T18:55:50+00:00April 18th, 2015|Blog, Buying a home, Tips & Advice|


residential district

There is a lot that goes into searching for a new home. Any Realtor will tell you that the most important factor is location, location, location! You can find a dream home but if it isn’t in the best neighborhood then it might be hard to sell later on or it might lose significant value. Knowing what things to look for when you start your home search will ensure that you find the right home in the right neighborhood.


The first thing you want to do before you start to look at homes is to get a pre-approval from a lender. Knowing your budget and what you are able to afford will determine what neighborhoods you could afford to live in. Since the location of a home is a huge influence in the price of the property it might be smart to avoid areas which you can’t afford. It is very important to inform your Realtor of your budget so that he or she will only show you properties in areas which fit within your budget.

Neighborhood Preferences

Do you want to live nearby your favorite restaurant, gym, or coffee shop? Do you prefer the feel of an urban environment where you can simply walk to almost everything? Many people love to live in areas like this but keep in mind this also means more cars, traffic and people. Are you more for the simpler, quieter neighborhood where you have to drive in  your car more often to go to certain places? You might be one that prefers a suburban neighborhood. Do you want absolute peace and quiet with no neighbors right next door? If so, you will want to shop in rural areas for your home. Make sure that when you […]

11 04, 2015

Tax Benefits of Owning a Home

2021-09-28T16:57:23+00:00April 11th, 2015|Blog, Buying a home, General, Home Finances, Mortgage 101|


Tax Benefits of Owning a HomeWe all can agree that owning a home can be an investment. Gone are the days when you could call your landlord when the air conditioner went out or the water heater was on the fritz. As a home owner those responsibilities now fall on you and while they can be expensive repairs, the benefits of owning a home are far greater. One particular advantage that lures many people into home ownership is the tax benefits that they can receive. Here are few ways that owning a home can really pay off come tax time.

Mortgage Interest

If you are the in the majority of Americans who have financed their home with a mortgage loan then there are two parts to your mortgage payment; the principal and the interest. As an incentive for home ownership the federal government provides a tax benefit for the interest portion of the loan. For the sake of numbers lets say that your salary was $85,000 and your mortgage payment was $1,200 month. Lets say the interest on this loan was $800 month. At the end of the year the home owner will have a $9,600 tax write off. This simply means that their taxable income drops from $85,000 to $75,400.

Capital Gains

If you are a home owner and you sell your home you are able to receive a tax break. Lets say that you purchased your home for $300,000 and you sell it for $400,000, you now have a $100,000 profit, or gain-which is income. If you make income through a job, contract work, or the sale of stocks and mutual funds you have to pay tax on that but with home ownership it is different. If you are single and have lived in the […]