Real Estate Blogs Of The Carolina's

Easier to Play the Game It’s much easier to play a game when you know the rules so you can avoid mistakes that may keep you from winning. Homeownership isn’t a game but there are some rules that will protect your investment and increase your enjoyment. Most people want a home of their own to raise their family, share with their friends and to feel safe and secure. In most cases, it is also their largest asset. These suggestions can help protect your investment and make homeownership more enjoyable. Don’t overpay for your home Maintain your home to protect its value Minimize your assessed value to lower property taxes Make extra contributions to save interest and build equity Validate the insured value of improvements and contents Be aware of current surrounding property values Make mortgage interest payments deductible Invest in capital improvements that increase market value Don’t over-improve the neighborhood comparables Keep records of capital improvement ...

Protecting Your Credit One of the “big”  three  credit bureaus recently announced that a massive hack has exposed the personal information of up to 143 million people. To add perspective to that statement, that is about two-thirds of American credit card holders or close to half the population of the United States.  Part of protecting your credit is being vigilant and making it difficult for thieves to steal your identity. If you suspect you are a victim of identity theft, an initial step is to place a fraud alert on your account. Contact one credit reporting company (Equifax, Experian or TransUnion), tell them you are an identity theft victim and ask the company to put a  fraud alert  on your credit file. Confirm that the company will contact the other two companies. The initial fraud alert will make it harder for an identity thief to open accounts in your name. The alert lasts for 90-days and it can be renewed. A more severe precaution called a ...

Distressed properties: In some areas, more than 40 percent of the homes on the market are short sales and foreclosures, and they involve a very different timeline and set of facts than traditional home sales. Read up and talk with the agent candidates you interview about what you should expect from these types of listings, to minimize surprise and manage your expectations way in advance. 3. Save even more. Sounds like you've worked hard for a number of years to save enough cash that you think you're in the clear when it comes to funding your down payment and closing costs. Studies show that after months of saving, people often let up and relax into a spending season. Even at your early stage in the process, it's easy to start noticing and buying the furnishings and touches you want to install in your new home. While I don't want you to feel deprived or forgo amazing and affordable deals on things you know you're going to need, I assure you that no matter what amount...

Fix credit problems. More deals than ever are dying on the vine, and credit problems are a top reason home-sale transactions fall out of escrow. Detect and correct errors on your credit report now by reviewing the federally mandated free reports you can get at AnnualCreditReport.com.

August 3, 2010 Conventional 30-Year Fixed 4.25% Conventional 15-Year Fixed 3.75% Conventional 5/1 ARM 3.00% JUMBO 30-Year Fixed ($417,001 - $750,000) 5.00% 5/1 ARM (JUMBO ~ $417,001 - $750,000) 3.875% FHA & VA 30 YEAR FIXED 4.25%

IRC regulations for §1031 Exchanges place strict limits on the number of properties that may be identified as replacement properties. There are three rules that may be applied, which are independent of each other so the Taxpayer may choose the rule that best applies to the circumstances.  The Three-Property Rule – Identify three replacement properties without regard to the fair market value of the properties. You may identify up to three properties, but are only required to purchase one.  The 200% Rule – Identify any number of properties (more than 3) so long as their aggregate fair market value does not exceed 200% of the fair market value of the relinquished property.  The 95% Rule – Identify any number of properties (more than 3) without regard to their aggregate fair market value so long as the taxpayer received identified replacement properties constituting at least 95% of the aggregate fair market value of all identified replacement properties by the 180th day. Written identif...

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac. Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment. Source: Washington Post, Dina ElBoghdady