Boise Idaho Real Estate Tips
Interested in Buying or Selling in the Boise Area? Find Real Estate Tips Here.Archive for homebuying
Are You Financially Ready to Buy a Home
July 26, 2009 at 4:22 pm · Filed under Buying and tagged: financial goals, homebuying, real estate
Throughout United States there are thousands of people looking to buy a home, either now or in the near future. Interest rates for the past several years have been low and continue to remain reasonable, thus making it more affordable to buy a home. Taking into account the real estate market, competition among lenders, and low interest rates it can make more sense to buy than rent.
One of the most important criteria to look at when preparing to buy a home is your debt to income ratio. Simply put, your debt to income ratio states the percentage of your income which is going towards your debt. Mortgage lenders will use this information in conjunction with other criteria to qualify you for a home mortgage. Depending on the type of mortgage loan you get; conventional, FHA, or VA, just to name a few, the debt to income ratio may vary.
For the purpose of this article let us look at conventional mortgage loans. When applying for a mortgage loan you may see a 28/36 qualifying ratio. What this says is that a max of 28% of your total gross monthly income can go towards housing expenses. This includes your mortgage payment, property tax, association fees, insurances, etc.
Read full article http://www.oarticles.com/finance/real-estate/buying/are-you-financially-ready-to-buy-a-home.html
Where to Buy a Home
May 12, 2009 at 1:24 pm · Filed under Buying and tagged: home buying, homebuying, real estate
Price, price, and price seem to be the major factors in determining where and what home to buy. When it comes to buying Boise real estate it is important to take into all the considerations when setting out to buy a home. One of the major ones is destinations. Where are you going to be spending most of your time? Many people every day commute from Nampa to Boise, why? Because they were able to get more home for their money. However, it had a cost associated to it. When buying a home you really should consider how your time and money will be spent on that new home. Will you be driving to and from work each day, losing 1-2 hours in the car. Will your monthly fuel bill go from $100 to $300? Will your blood pressure go from normal to above normal? These are honest considerations and should be examined. They all have a cost and it is important to know the bottom line when making a home buying decision. So before you buy Boise real estate or any other real estate for that matter make sure you understand the bottom line along with the pros and cons.
Top States Affected Most by Mortgage Fraud
January 28, 2009 at 7:03 pm · Filed under Home Loan and tagged: declining housing market, home buying, home loan, homebuying, homebuying risk, housing market, mortgage fraud, mortgage scam, real estate
The real estate market has been in a slump over the past year and is expected to continue with even more foreclosures and declining property values. And with this comes trouble! Individuals who are paid by commission can be drastically affected in a declining housing market. During declining housing markets, mortgage fraud perpetrators may take advantage of industry personnel attempting to generate loans to maintain current standards of living.
It is important to be on the lookout when buying a home and shopping for a mortgage to not fall victim to mortgage fraud and scams. According to a report released by the FBI the top 10 states affected by mortgage fraud include: Michigan, Florida, Georgia, Illinois, California, Texas, Ohio, Colorado, New York, and Minnesota.
Help for Boise Homeowners
December 23, 2008 at 6:39 pm · Filed under General Real Estate, Home Loan, News and tagged: countrywide lawsuit, countrywide scam, home loan, home loan scam, homebuying, real estate, real estate advice, real estate help
It appears a the local Countrywide lender is giving homeowners a break in the Boise area to help them keep their Boise homes or find alternative living. This is all according to a the news story in the paper but it also mentioned, very briefly, that Countrywide was being sued by several other states in the US.
It appears that they were deceptive in their dealing with the public:
“Countrywide’s lending practices turned the American dream into a nightmare for tens of thousands of families by putting them into loans they couldn’t understand and ultimately couldn’t afford,” California Attorney General Jerry Brown Jr. said in a statement Sunday. Source: Associated Press
Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general’s office said Sunday. Source: Associated Press
Reading about Countrywide Home Loans and getting some public opinion would suggest that they have been taking advantage of homebuyers for quite some time.
Are they really trying to help out Boise residents or are they simply trying to save their own asses? I imagine it is the latter.
Making an Offer
December 17, 2008 at 2:37 pm · Filed under Buying, General Real Estate and tagged: buy home, home buying, home inspection, homebuying, making offer, real estate
There are things that a buyer should do when making an offer on a home and not do. One of the biggest mistakes is to make an unconditional offer. To be more specific this is when you accept the home “as is” without leaving yourself an out in case the home inspections comes back with some disturbing results.
Buying Tips
December 13, 2008 at 9:05 pm · Filed under Buying, General Real Estate and tagged: buying a home, buying real estate, home buying tips, homebuying, real estate, real estate tips
BoiseRealEstateInfo.net has released the latest real estate news story “How to Negotiate the Offering Price“. It discusses ways for buyers to save money in any market. If you are looking for additional information on buying a home and ways to save money or not lose out on the right home visit In My Opinion for real estate articles.
Are You Paying to Much for Your Home
December 11, 2008 at 3:08 pm · Filed under Buying and tagged: buy home, home buyers, homebuying, house, real estate, real estate agent
When looking for a home one of the first things to address is the price of the home. In general, the asking price and the selling price tend to be close. There will be concessions and negotiations that determine that actual selling price but for planning purposes consider the asking price to be within 3% of the selling price.
There are several factors that determine what the home you are buying is worth. It has nothing to do with what the home was worth last year or what the home may be worth next year. When determining how much to pay for a home you need to examine what the real estate market has been doing in that area in the recent past. By comparing size, amenities, condition, conveniences, etc. a good estimate can be determined on how much to pay for the home. It won’t be an exact figure but you will have range that will come in useful when you begin to negotiate the terms of sale.
The best way to get detailed information is through a professional real estate agent. Realtor that will represent you, also known as a buyer’s agent assist home buyers in finding and buying a home that meets their needs and budget. They will answer any questions you have along the way and make sure the contracts and paperwork are in order.
