http://www.affinityproperties.com Just another WordPress weblog Wed, 28 Jul 2010 05:25:41 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 http://www.affinityproperties.com/wordpress/2010/05/29/do-it-yourself-classes-for-bathroom-tile/ http://www.affinityproperties.com/wordpress/2010/05/29/do-it-yourself-classes-for-bathroom-tile/#comments Sat, 29 May 2010 09:23:33 +0000 katkat http://www.affinityproperties.com/wordpress/2010/05/29/do-it-yourself-classes-for-bathroom-tile/ http://www.affinityproperties.com/wordpress/2010/05/29/do-it-yourself-classes-for-bathroom-tile/feed/ 0 http://www.affinityproperties.com/wordpress/2010/04/07/tips-for-buying-foreclosed-homes/ http://www.affinityproperties.com/wordpress/2010/04/07/tips-for-buying-foreclosed-homes/#comments Thu, 08 Apr 2010 02:41:10 +0000 Austin Realtor http://www.affinityproperties.com/wordpress/?p=907 Buying a foreclosed home offers significant benefits in many cases, but can present serious challenges for unprepared buyers who may not understand fully what they are getting into. Here are some tips for home buyers looking for bargains in today’s housing market. Work through an agent In many cases, lenders are not willing to negotiate directly with potential buyers; a qualified buyer’s representative can offer expertise in the foreclosure market and will represent your interests with the property owner. Additionally, your real estate agent can determine if you need legal representation and guide you through the complexities of purchasing a foreclosure, allowing you to proceed with confidence in this challenging field of real estate investment. Inspect the property While many foreclosures are in move-in shape, other homes may have serious structural or cosmetic damage that can cost hundreds or thousands of dollars to repair. It’s usually wise to have a qualified inspector go over the home carefully to determine its condition and to make the offer contingent on the home passing inspection. Ensuring that the home is in good condition can save you time, trouble, and cash over the long run. Research the market Knowing the current values of comparable homes on the market can help you avoid overpaying for a foreclosed property. While many foreclosures are sold at significant savings over their probable value, others may be overpriced in comparison to similar homes for sale on the general real estate market. Your agent will be of great help in determining if the foreclosed property you are considering is a steal or a swindle; when in doubt, trust your agent and go with your instincts. Arrange financing beforehand Because foreclosed properties often sell fast, it’s in your best interest to have your financing in place before you make any offers. Banks and lenders that sell foreclosed properties look more favorably on prospective buyers who have already arranged their financing before bidding on a foreclosed home; this can make the difference between success and failure in this volatile real estate market. By working with a skilled and knowledgeable real estate agent, doing the necessary research, and presenting yourself as a well-qualified buyer, you may be able to purchase the home of your dreams on the foreclosure market. The housing market is showing definite signs of recovery, so there has never been a better time than now to get a great deal on an exceptional property.]]> http://www.affinityproperties.com/wordpress/2010/04/07/tips-for-buying-foreclosed-homes/feed/ 0 http://www.affinityproperties.com/wordpress/2008/04/08/are-you-ready-to-be-a-home-owner/ http://www.affinityproperties.com/wordpress/2008/04/08/are-you-ready-to-be-a-home-owner/#comments Tue, 08 Apr 2008 06:51:31 +0000 J Cline http://www.affinityproperties.com/wordpress/2008/04/08/are-you-ready-to-be-a-home-owner/ Freddie Mac has guidelines to help you in determining your ability to purchase and maintain your own home. First and foremost is the purchase price. Chances are, unless you’re independently wealthy, you will need a mortgage. Most responsible lenders want to be sure you have a steady income enough to pay the mortgage, plus interest, and – in most cases – the escrow required for property taxes. Then, you have closing costs that will include the down payment, financing fees, title search, and any other costs you agreed to pay as part of the purchase negotiations. And this is just the beginning. You’ll need to furnish the house, heat and/or cool it, run appliances, use water, and have enough left over to repair or maintain the various systems and parts of your home. Owning a house may entail a lifestyle change: less dining out, fewer expensive vacations, buying your groceries at the discount supermarket instead of the gourmet take-out place. Though the costs may seem intimidating, home ownership has many long-run advantages. At the top of the list is it’s yours. You have an asset that will probably increase in value, as long as you keep up with the maintenance. Next is the savings. You often pay less on a mortgage than you would for rent and it’s entirely possible your federal income taxes will be reduced. Interest on a home mortgage and property taxes can be deducted from your yearly tax return. And, in the end, provided you’ve planned well, you own a piece of the American Dream.]]> http://www.affinityproperties.com/wordpress/2008/04/08/are-you-ready-to-be-a-home-owner/feed/ 0