Aim for a home you can really afford.
The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you'll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford. I have links on my web site at www.greencountyhomeguide.com
Friday, May 14, 2010
Wednesday, May 12, 2010
Don't buy if you can't stay put. First-time Homeowners advice.
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Don't buy if you can't stay put.
If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition. Make sure you discuss your plans with your Realtor so he or she can give you sound advice on this your biggest life-time purchase.
Don't buy if you can't stay put.
If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition. Make sure you discuss your plans with your Realtor so he or she can give you sound advice on this your biggest life-time purchase.
Monday, May 10, 2010
What if you get a very low offer on your home?
Negotiate! Keep the conversation alive with the buyer for as long as you can. Do not settle right away. Always maintain open communication about your limitations with your agent; he or she is there to help you get the best price possible for your home. Remember, if the offer is too low, always counter; don't walk away. Sometimes buyers simply want to test the waters.
Thursday, May 6, 2010
Did You know?
Did you know that I can show you any home, listed with any company, in any community in Wisconsin, any time? Put me to work for you or if you have a friend, I will do my very best to help them find their dream home
Changes in lending
The magic number for your credit score is 740. The lower the score, the higher the rate.
A score under 620 in not acceptable for conforming loans.
You can check your score at www.annualcreditreport.com
Call me if I can be of service
Thank you,
Scott Larson
608-214-9844
A score under 620 in not acceptable for conforming loans.
You can check your score at www.annualcreditreport.com
Call me if I can be of service
Thank you,
Scott Larson
608-214-9844
Tuesday, May 4, 2010
Should You Buy a Home in Today's Market?
First, if you are thinking about delaying a purchase because you want to "time the market" to get the very best deal, that is almost impossible to do with precision. Even if you are in an area with declining market prices, the most knowledgeable experts cannot reliably anticipate the "bottom" of a real estate market.
Second, if you aren't an owner, you're a renter. Renting is just throwing money away. You don't get to reduce your income taxes by itemizing deductions like property taxes and mortgage interest. However, for many, renting can provide a better home in a better area than they could afford to buy and is cheaper than owning. And, the money saved during the renting period could be saved. The period of time spent renting and saving could also be used to repair and improve credit, so that when the time does come to buy a house, it will be possible to get a mortgage with more favorable terms, conditions and interest rates. As a renter, you are limited on what changes you can make to your living quarters. As an owner, you can paint your living room chartreuse if you want or put in an avocado green carpet. You can change light fixtures, garden and landscape. You can do whatever you want that makes your home a comfortable place for you and your family. It's your home, not a temporary place to sleep and eat until you do buy a home.
Third, interest rates are very low right now. If you wait, interest rates could be higher. That means your monthly payment could be higher, too. No one can predict rates that far in the future, of course, but rates are very low right now.
Plus, the easiest way to accumulate wealth is through home ownership. Three out of four people have more equity in their home than assets in retirement plans, stocks, mutual funds, and savings. Though no one can guarantee your property will appreciate, over time it generally does.
How do you minimize the possibility of lower appreciation for your home? Determine your price range. Then choose a neighborhood where your target price is in the lower tier of prices in that neighborhood. That way, your home has less vulnerability on the down side and the higher-priced homes will help pull you up during hot markets.
Finally, talk to me Scott Larson a real estate agent with Re/Max Towne Square Realty and ask for advice. Ask me what the market is like in your area.
Ph. 608 214-9844 or E-mail scott@greencountyhomeguide.com
On the web at, www.greencountyhomeguide.com
Second, if you aren't an owner, you're a renter. Renting is just throwing money away. You don't get to reduce your income taxes by itemizing deductions like property taxes and mortgage interest. However, for many, renting can provide a better home in a better area than they could afford to buy and is cheaper than owning. And, the money saved during the renting period could be saved. The period of time spent renting and saving could also be used to repair and improve credit, so that when the time does come to buy a house, it will be possible to get a mortgage with more favorable terms, conditions and interest rates. As a renter, you are limited on what changes you can make to your living quarters. As an owner, you can paint your living room chartreuse if you want or put in an avocado green carpet. You can change light fixtures, garden and landscape. You can do whatever you want that makes your home a comfortable place for you and your family. It's your home, not a temporary place to sleep and eat until you do buy a home.
Third, interest rates are very low right now. If you wait, interest rates could be higher. That means your monthly payment could be higher, too. No one can predict rates that far in the future, of course, but rates are very low right now.
Plus, the easiest way to accumulate wealth is through home ownership. Three out of four people have more equity in their home than assets in retirement plans, stocks, mutual funds, and savings. Though no one can guarantee your property will appreciate, over time it generally does.
How do you minimize the possibility of lower appreciation for your home? Determine your price range. Then choose a neighborhood where your target price is in the lower tier of prices in that neighborhood. That way, your home has less vulnerability on the down side and the higher-priced homes will help pull you up during hot markets.
Finally, talk to me Scott Larson a real estate agent with Re/Max Towne Square Realty and ask for advice. Ask me what the market is like in your area.
Ph. 608 214-9844 or E-mail scott@greencountyhomeguide.com
On the web at, www.greencountyhomeguide.com
Tuesday, April 20, 2010
As the song goes " Time keeps on ticking, ticking in to the future"
As the song goes " Time keeps on ticking, ticking in to the future"
The first time home buyer tax credit allows a buyer to enter an agreement with a seller by April 30, 2010 and close on the house by June 30, 2010. First time home buyers are defined as anyone who has not owned a home for the past 3 years. First time home buyers will get up to $8,000 tax credit. Other home buyers, who have owned their current home for at least five years, are eligible for a $6,500 tax credit.
Income limitations $125,000 for single filers and $225,000 for joint filers. The purchase price of the home must be less than $800,000.
There it is, the clock is nearly striking midnight on this fantastic offer for first time home buyers. It is still possible but you must get an accepted offer on the home you want within 10 days.
From Scott Larson of Towne Square Realty in Monroe, Wisconsin
“Your Realtor of the Region”
E- Mail scott@greencountyhomeguide.com
On the web at www.greencountyhomeguide.com
I think you will be surprised how affordable the Dairyland is,
so come to my land of cows and plows and visit for a day, but stay for a lifetime
608-2124-9844 Direct
The first time home buyer tax credit allows a buyer to enter an agreement with a seller by April 30, 2010 and close on the house by June 30, 2010. First time home buyers are defined as anyone who has not owned a home for the past 3 years. First time home buyers will get up to $8,000 tax credit. Other home buyers, who have owned their current home for at least five years, are eligible for a $6,500 tax credit.
Income limitations $125,000 for single filers and $225,000 for joint filers. The purchase price of the home must be less than $800,000.
There it is, the clock is nearly striking midnight on this fantastic offer for first time home buyers. It is still possible but you must get an accepted offer on the home you want within 10 days.
From Scott Larson of Towne Square Realty in Monroe, Wisconsin
“Your Realtor of the Region”
E- Mail scott@greencountyhomeguide.com
On the web at www.greencountyhomeguide.com
I think you will be surprised how affordable the Dairyland is,
so come to my land of cows and plows and visit for a day, but stay for a lifetime
608-2124-9844 Direct
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