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By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Adjustable Rate Mortgages - The Basics An adjustable rate mortgage (ARM) has an interest rate that fluctuates periodically. This is in contrast to a fixed rate mortgage, which always has the same interest rate. Every ARM has basic components: An index A margin Adjustment Period An interest rate c...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Creative Financing Creative financing: You’ve heard of it, and, as a seller, the idea sounds pretty attractive. But, do you know everything you need to know about carrying back a second; essentially, about becoming a lender? You better know the same things that financial institutions know - you b...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Condominium and PUD Ownership Builders, in an effort to combat the dual problem of an increasing population and a declining availability of prime land, are increasingly turning to common interest developments (CIDs) as a means to maximize land use and offer homebuyers convenient, affordable housi...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Finding the Right Agent Not all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid r...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Build a Plan of Action and Get Ready Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the step...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Adjustable Rate Mortgages - The PROS & CONS Now that you know what an ARM is and how it works, you may be wondering what the advantages and disadvantages are. So let’s explore that issue. Offering adjustable rates allows lenders to transfer part of the interest rate risk from themselves to the bo...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Closing and Title Costs It’s the big day. The day you go to the title or escrow company, sign your name on the dotted line, hand over a check and prepare to take ownership of your new home. It’s also the day that you and the seller will pay “closing” or settlement costs, an accumulation of separa...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Common Ways of Holding Title How Should I Take Ownership of the Property I am Buying? Real property can be incredibly valuable and the question of how parties can take ownership of their property is important. The form of ownership taken -- the vesting of title -- will determine who may sign vari...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Considering Offers When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer. Some terms that may work in your favor: higher-than-market-interest in a se...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Avoiding Financial Stress By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money. It is still true that the better qualifications you have, ...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
What is a Short Sale Anyway? An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale? A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the l...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Why You Should Not Make Any Major Credit Purchases Don’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation. Every $100 you pay per month on a ...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Your Savings and Down Payment Your First Step Toward Buying a Home When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you sh...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Understanding Preliminary Reports After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that wi...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Understanding Foreclosures It is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements are also contributing factors. When prices are rapidly acceler...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Setting the Price The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home. Several factors w...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Use a Buyer’s Agent It’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed....
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
The Advantages of Different Types of Mortgage Lenders What kind of lender is best? If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he works for and he will give you a list of reasons why. If you meet the same loan officer years later, and he w...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Understanding Preliminary Reports After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that wi...
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Comments 0
Underground Heating Oil Tanks Underground heating oil tanks can pose many potential problems to both home buyers and sellers. They have been the source of many environmental problems such as contamination of surrounding soil and ground water. Leaks are generally caused by the rust inside undergro...

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