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Why OTC Will Likely Not See a Flood of Foreclosures

With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s. One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market.

How VA Loans Help Veterans Buying a Home

For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits. Here are some things you should know about VA loans before you start the homebuying process.

Should You Buy a Home During Growing Inflation?

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession.
You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind for you, here’s what you need to know

Revealed! What Mortgage Lenders Review on Bank Statements

Knowing which financial weaknesses raise red flags for lenders, and avoiding them, can strengthen your chances of loan approval. Lenders are trained to spot financial mismanagement so they are careful to review your finances before they take you on as a mortgage client. A bad risk isn’t good for their business.

Reviewing All the Costs of Home Ownership

When looking for a new home, be sure to tally all the costs of buying and the ongoing costs associated with home ownership. This will help you make a realistic budget for the purchase and related costs to make the place your own. And, it’s best to have an idea of the costs before you even start looking for a new home.

Win Bidding Wars by Understanding the Terminology

Record prices in the housing market are easing up, but bidding wars continue in competitive areas. Silly misunderstandings or misinterpretations of real estate language can cost you the house of your dreams and you could find yourself back at square one in your search. Take time to learn key terminology and you may be well on your way to moving into your new home.

There is a distinction between the terms “highest and best” and “best and final,” used to describe the kinds of offers a buyer should know when purchasing a home. Knowing the differences and some tips to help you get the best deal will help you navigate the home buying process. Read on for the definitions — and for insight on the subtleties of each so you won’t lose out on your new home.

10 Tips to Save Money When Moving into a New Home

Your house has sold, and you have a new home to move into. Check that off your list. But that’s only part of the moving process. You can save money on the move and have extra cash for new accessories to make this home your own. Plan ahead and take advantages of freebies offered when moving to a new home.

Strategies for Buying a Home in a Competitive Market

Homebuyers looking for a bargain will have better luck finding deals on home décor at the dollar store than in housing this year. In some cases, even if a home needs major repairs, seller’s have the upper hand and can ask what they want. That’s because available houses are lagging far behind the demand. If you are looking to buy, make sure and leverage all of the advantages available to you.

Owning a Home Offers Several Tax Benefits

Members of the real estate industry are vigorous advocates for creating and maintaining the tax benefits of homeownership.When the Tax Cuts and Jobs Act doubled the standard deduction for taxpayers a few years ago, far fewer people itemized their expenses, missing out on deductions. However, even if you don’t itemize, there are tax benefits you’re entitled to as a homeowner.

Resolutions to Help You Buy a Home This Year

Would you like to buy a new home, or first home, this year? Getting your finances into shape and a couple other key strategies will help you improve your home-buying odds. It’s a competitive market, so do everything you can to come out on top.