Category: Investing Page 5 of 8

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What to Know About Buying a Foreclosed Home

On October 12, 2021

In Finance, Investing, Real Estate, Welcome

As a prospective home buyer, you may wish to purchase a foreclosed home due to various reasons. You may want to shop on a budget or extend your real estate business portfolio. Regardless, you have to prepare for the things that lie ahead when buying such a home.

Fortunately, this guide looks the things to know about buying a foreclosed home:

Learn About the Foreclosure Categories

Foreclosures fall into two main categories, which are the judicial and non-judicial types. The judicial type occurs when a lending service files a court case against the borrower. The court will then rule in favor of the lending service and release the property for auction.

The non-judicial type occurs based on a specific property sale clause for failing to make up for payments. It does not require a court order.

Use Legitimate Platforms to Source Foreclosures

While you may have many options for finding suitable foreclosure deals, some are not legitimate. The list of options you can use include:

Use public records that are available in your state or county’s property database. However, this process requires lots of time and research as the records are immense.
Consult with a real estate agency or service. A reputable service often has insight into the best foreclosure properties you can buy.
A local bank website is also an excellent platform. Some banks facilitate foreclosures and then list the properties on their sites for auction.
You can use online platforms such as Auction.com, which lists countless properties across the country.

Your Finances and Preparedness

Before buying a foreclosed home, ensure you have the financial capability and preparedness to handle such a process. Details such as your Social Security Number (SSN), tax returns, and credit scores should be excellent.

Additionally, you also have to determine whether you have adequate funds to buy and develop the property. Ensuring that all these details are intact will smoothen the process of owning a foreclosed home.

Buying a foreclosed home seems like a tough call, but it’s also a lucrative venture when you have the correct information. Additionally, you also have to prepare well for buying such property, including details such as your credit score.

Closing Costs When Buying a Home

By W Darrow Fiedler

On September 15, 2021

In Finance, Investing, Real Estate, Welcome

Many individuals save for a down payment for their future home, but they might not be aware of the fact that this isn’t the only money that they need to have when they close on it. Most homeowners have to pay closing costs as well. Here’s a little bit more information about closing costs and some ways to lessen them.

What’s Included

Closing costs tend to be about 4% of the purchase price of a home. This amount can vary slightly. Closing costs tend to include things like origination fees associated with the loan, title insurance, attorney fees, and closing fees. For many sellers, the amount they have to pay in closing costs can equate to thousands of dollars. Buyers will receive an itemized list of their closing costs before their actual closing date. This will allow them to see how much each item is that they have to pay for. Fortunately, they may be able to get some help paying for their closing costs.

Getting Assistance

There are a few different ways that buyers can lessen the amount of money that they have to bring to the table during their closing. In some instances, sellers may actually pay the closing costs themselves. This is common for sellers whose house has been for sale for a long time. There also are a variety of grants available that may be used to pay for closing costs if certain requirements are met. Buyers might also be able to roll their closing costs into the loan of the home. While they still will have to pay all of the closing costs, they may end up being more affordable for those that are limited on cash as they can pay them over the life of the loan.

Buying a home can come with a lot of expenses before the buyer even gets the keys to the house. Fortunately, there are some ways that buyers can get assistance paying for closing costs. It’s best for buyers to be upfront with their realtor and mortgage broker about how much they can afford to pay upfront. They can use this information to help the buyer find a few different ways to make closing costs a little more affordable for them.

3 Home Renovations for a Faster Sale

By W Darrow Fiedler

On August 18, 2021

In Investing, Real Estate

When you know you’ll be selling your home a few months or years down the road, it’s a great idea to use this knowledge and make renovations now before the chaos of selling takes over your life. Certain renovations increase the value of your home more than others. If you want your home to sell shortly after being listed, consider prioritizing these upgrades over others.

New High-Quality Flooring

Old, outdated flooring will quickly turn off potential buyers. Carpet that’s peeling away or trodden down by foot traffic over the years makes your home look low value. Installing new floors is an instant way to completely transform the look of a home. Wood floors are a great choice: they look polished and have an estimated ROI of 70 to 80 percent. Another great option, particularly if you live where humidity levels are high, is ceramic tile. It’s pricier than wood but still offers an estimated ROI of 70 percent.

A State of the Art Kitchen

It’s common knowledge that the two most sought-after remodels involve the kitchen and master bathroom. The kitchen is what really sells a home however, and an overhaul can really shorten the length of time a home sits on the market. When remodeling the kitchen, try to keep things neutral. Granite countertops are still popular, as are tasteful backsplashes and white cabinets. Upgraded appliances bring the entire package together.

A Yard Built For Entertaining

A lifestyle that involves a lot of time spent outdoors is currently very sought after. Some people want to grow their own food. Others want more of an outdoor living room, a cozy spot where they can sit in comfort and entertain guests. Make sure your landscaping is on point and has a polished look to it if you want your home to stand out as a luxury home. Firepits, shady areas in which to sit, pools, and hot tubs are all great additions with high return rates.

These are some of the most lucrative home improvement ideas that will help you sell your home fast. It’s important to keep in mind that even with all the renovations in the world, your home still might not sell. Everything depends on your local real estate market. Still, these changes should make a home more likely to sell, anywhere in the country.

Home Buying Tips for Millennials

By W Darrow Fiedler

On June 17, 2021

In Investing, News, Real Estate, Uncategorized, Welcome

Buying a home is hardly a priority for younger generations. Most millennials have other fun things to do in life, and buying a house is far-fetched. But, some are taking the first step in purchasing a home, which is recommended to do. For the millennials willing to take this bold investment more seriously, it is essential to have everything in order. It’s important to have guidance in making these huge decisions. Below are crucial home buying tips for millennials.

Pay off the student loans plus other loans

Student loans are challenging to this generation. A person’s accumulated loans will affect their chance to own a home. Millennials must first consider paying off these loans to realize other dreams. They need to know that most home selling companies and banks will need to review all the loans before offering any financial assistance.

Save money for the down payment

Saving is paramount when it comes to owning a house. Since most millennials do not have enough funds to own a home, they must start saving early. It is vital to have a savings plan that will work for them. Millennials should set realistic savings goals if they’re serious about buying a home, and if they’re uncertain about the right saving plans to take, it’s okay to seek assistance from financial experts.

Be competitive in the market

Once they settle the debts and have a good saving plan, the next thing is to be competitive in the market. It indicates that they ought to get into the house buying process. Seeking approvals from the bank for the homes you’re interested in is integral, and you shouldn’t waste time in making critical decisions about the intended house.

Start shopping for the house

At this point, millennials have to be honest with the kind of home they intend to own. While doing so, it is important to consider homes within their financial abilities.. It is good to see different mortgage plans from companies involved before taking any plan.

While buying a home can seem scary, it’s totally doable and worth your time and money. Be sure to seek out help from the appropriate sources, and you won’t regret it.

3d Printed Neighborhood Coming To California

3D Printed Neighborhood Is Coming to California

By W Darrow Fiedler

On April 16, 2021

In Finance, Investing, New, News, Real Estate, Uncategorized, Welcome

There is no doubt that technology and industry will continue to evolve in many forms. Many futuristic sectors are currently being developed. Initiatives such as the robotic and the internet of things are becoming more and more of a factor.

Another industry that is emerging very quickly is the 3D Printing industry. 3D printing is emerging in various aspects of society. It has become abundantly clear that 3D printing has become a part of the housing industry as well.

As hard as it is to believe, there is a desert in California set to become a neighborhood constructed entirely via 3D printing.

In this piece, we are going to examine this fantastic occurrence in greater depth.

The location of this potentially historic neighbor good will be the Coachella Valley. Thanks to a partnership between an organization specializing in sustainable real estate development and a construction technology firm, 5 acres of land will become a community of 15 3d-printed houses.

The construction technology firm is named Mighty Buildings. Mighty Buildings considers this project as a realized fulfillment of its vision for the housing industry’s future.

Mighty Buildings is based in Oakland and specializes in creating homes with the use of 3d printers that are pretty sizable.

The material used by the construction company is designed to harden instantaneously. Thus, roofing and insulation can be done in one seamless process.

Mighty Buildings can automate 4/5th of the home construction process while achieving cost savings in manpower. Their approach allows environmental waste to be significantly reduced.

According to the company’s chief sustainability officer, Mighty Buildings can build a 350 square foot home in a day.

The 3D-printed homes will have a modern look. All homes will be 1450 square feet and will consist of three bedrooms and two bathrooms. Also, each home can have another 2 BR/1 BA residence on the premises.

Each home will have a pool in the backyard. Individuals can opt for amenities such as hot tubs and fire pits.

Prices for the primary 3 BR/2 BA 3d-printed home start at $595,000. If one opts for a two-home setup with enhancements, the price is $950,000.