Can A Home Purchase Fit Into Your Budget?
Posted on February 14th, 2012
The housing market is still a buyers market. Theres homes available at rock bottom prices, and you may be thinking that its time for you to become a home owner! The first step is finding out how to budget money for your new home. Through a number of steps you can find out how much home you can afford to still live comfortably and not be crushed by your mortgage.
First, take a look at how much money you make. This should be the after tax amount so you can be sure you wont be short on funds. Ideally your housing costs should not exceed one third of your income to live at a comfortable rate. This includes the mortgage, taxes, and the insurance.
Tags: Home, Home Purchase
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Three Common Tax Misconceptions about Home Ownership Explained
Posted on January 24th, 2012
One of the benefits of owning a home is the deductions that homeowners can use when filling out their annual tax forms. While there are several tax benefits to owning your own home, some of these benefits are greatly exaggerated and some of them are simply misconceptions that are untrue. Here are some of the more common tax misconceptions and exaggerations that are out there so you can be aware of them.
Misconception #1: The interest that I pay on my mortgage provides me with a tax break.
For the majority of homeowners, the mortgage interest does provide a break on their taxes which you won’t get if you are renting. B
Tags: Home, Misconceptions Home
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Existing Home Sales Jump; Home Supplies Falling
Posted on September 27th, 2011
Are home resales rebounding?
According to the National Association of REALTORS®, Existing Home Sales rose 8 percent in August from the month prior, and 19 percent as compared to August of last year.
“Existing homes” are homes that are previously owned; ones that cannot be considered new construction.
A total of 5.0 million existing homes were sold last month on a seasonally-adjusted, annualized basis. This is slightly better than the 12-month home resale average, a statistic partially powered by “distressed sales”. Distress
Tags: Existing Home, Existing Home Sales, Home, Home Sales
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Four Ways to Get a Good Deal on Your Home Purchase
Posted on September 25th, 2011
Everybody is looking for a good deal. When it comes to buying a home, whether it is your first or your tenth home, you want to get it at a fair price. And if you get it at a bargain price, that’s even better! But how do you know if you are getting a fair deal on the home you are considering purchasing? Here are four ways you can ensure you are getting a good deal on your next home purchase.
1. Find Information about Recently Sold Homes that are Comparable
When comparing comparable homes, it is important to look at several factors. The location is definitely one of the main factors in determining a home price. Squar
Tags: Good Deal, Home
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Home Sales Plummet And Prices Slide In July
Posted on July 25th, 2011
Late August figures from the National Association of Realtors and and the Commerce Department show a retreating housing industry. With summer winding down, so is the traditional home buying season–and the fall forecast is not good. If you have been using a free mortgage calculator to determine your home purchasing power or mortgage refinance savings, there is a good chance your figures are a bit lower today than a few weeks or month ago as prices slipped, rates dropped, and sales plunged through July.
Existing Home Sales Record Drop
The National Association of Realtors (NAR) reported on August 24th that July sales of existing homes dropped 27.2% from June. T
Tags: Home, Home Sales
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