No down payment. No mortgage insurance. Lower credit score requirements than most loan programs. Does this sound too good to be true? Actually, this is a true reality for our military veterans. These are all characteristics of Veterans Affairs mortgages, also known as VA loans. These home loans are made through private lenders and as long as guidelines are met, they are partially guaranteed by the Department of Veterans Affairs. The VA home loan program’s lower cost to buyers can significantly … [Read more...] about Buying A Home with Military Veterans’ Benefits
Colleen McElmell
Don’t Fear a Hot Homebuyer’s Market
If you’ve found yourself paralyzed by this active market, you’re not alone. According to a recent survey of 3,500 buyers, a whopping 58 percent of potential homebuyers are sitting on the sidelines because they’re afraid the market is too hot. Here’s a breakdown of their top concerns: Affordability: Prices are rising or too high (27 percent). There's too much competition from other buyers (17 percent). There aren't enough homes from which to choose (14 percent). While it’s true … [Read more...] about Don’t Fear a Hot Homebuyer’s Market
Buyers Beware: The Hidden Costs of Historic Homes
Did you know that Prescott has 65 properties that are listed on the National Register of Historic Places? Historic structures are abundant and beautiful! There’s much to admire about owning a historic home. However, before you fall in love with the gleam of summer light cascading through a century-old stained glass window, pause and consider what you’re really in for when you buy a historic home. Historic Districts May Have Restrictions A truly historic home may be ineligible for … [Read more...] about Buyers Beware: The Hidden Costs of Historic Homes
Becoming a Real Estate Agent
Have you ever wondered if you could be a real estate agent? If you are looking for a new career, a real estate agent may be a viable option for you. Although there are no guarantees that you will succeed as a realtor and passing the test can be difficult and require dedication to learn the material, the overall process itself can be relatively quick. You could start a new career in just a matter of weeks. When armed with a positive attitude, dedicated work ethic and a solid business plan, … [Read more...] about Becoming a Real Estate Agent
Tips for A Successful House Flip
Thanks to HGTV, house flipping is an increasingly popular method of real estate investing. As easy as it may look, however, flipping is far from easy. A seasoned house flipper admits, “We make it look easy. But, it’s risky, back-breaking work. It can be fun, but if you don’t know what you’re doing, you’re sunk.” You need plenty of cash and nerves of steel to get into house flipping. To begin with, you need excellent credit score, cash for down payment, and you need to know the … [Read more...] about Tips for A Successful House Flip
What Should You Remodel To Get The Most For Your Money?
Kitchen? Paint? New shower? What should be remodeled first to give you the most return on your investment? Below, we will analyze where to best spend your valuable remodel dollars to stretch them further, boost the value of your home and sell your home faster and for more money. It's important to remember that there is not always a direct correlation between exactly how much you put into a specific renovation project and exactly how much you get out of it. When you view remodels as a whole, … [Read more...] about What Should You Remodel To Get The Most For Your Money?
1031 Exchanges
A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors to defer taxes when selling investment/commercial property. This effective strategy is also known as a “Starker Exchange,” named for the first tax case that allowed the exchange, or a “Like Kind Exchange,” referring to the type of change that occurs. This tax-efficient way of preserving capital that is invested in real estate is appropriately named a 1031 Exchange, after Section 1031 of … [Read more...] about 1031 Exchanges