Thanks to all our clients & followers for making 2013 so great! Bring on 2014!
Thanks to all our clients & followers fo
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Monthly Archives: December 2013
5 Things to Know About Title Insurance
Top 10 real estate trends for 2014
4 Reasons the Housing Bubble May Pop in 2014
by Rick Aristotle Munarrizby Dec 30th 2013 11:00AM
The housing rebound is on a roll. Home prices continue to inch higher, and the number of indicators showing economic improvement suggest we’ll enjoy an even rosier 2014, when the Fed won’t have to do quite as much to keep the good times going.
However, there are also more than a few hints that in the year ahead, the housing market’s rebound may take a breather — or we may experience something far worse. Let’s take a look at some of the warning signs.
1. Mortgage Rates Are Moving Higher
The economy’s gradually getting on track, and that has resulted in interest rates inching higher. Naturally, the higher the rate, the less bang potential homebuyers get for their bucks.
There’s little reason to expect this trend to reverse. The Fed recently announced that it’s ready to begin tapering its rate-suppression plan by…
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Home Design Resolutions for 2014
The Purchase Agreement
Elements in the Purchase Agreement
Sales Price:
Self-explanatory, but still the most important term.
Earnest money:
Along with your Purchase Agreement, you will submit earnest money to demonstrate your seriousness about the home. “Earnest Money” is generally between 1% and 5% of the purchase price. If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal against the terms of the contract, you may have to forfeit the entire amount.
Title:
“Title” refers to the legal ownership. The seller should provide title, free and clear of claims by others not acceptable to you, the buyer. Title insurance will assure that the home is free of “unacceptable liens” or “encumbrances.” It’s negotiable who will pay for the title insurance policy.
Mortgage Clause:
A clause which specifies that…
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What’s Ahead For Mortgage Rates This Week – December 30, 2013
The University of Michigan’s Consumer Sentiment Index was improved for December at 82.5, after the November reading was adjusted from 82.5 to 75. Analysts noted that consumers were relieved when legislative gridlock ended. Durable goods orders reached their highest level since May with November’s reading of + 3.5 percent. Without the volatile transportation sector, the reading for November was +1.2 percent. This could be a sign of economic recovery for manufacturing, as more orders are being placed. Economists expected an overall increase of 2.0 percent for overall durable goods orders. The U.S. Commerce Department provided housing markets with good news with its New Home Sales report for November. 464,000 new homes were sold in November against expectations of 440,000 new homes sold. This expectation was based on the original reading of 444,000 new homes sold in October, which has been revised to 474,000 new homes sold. The latest reading for…
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2 Tax Changes Affecting Homeowners Next
2 Tax Changes Affecting Homeowners Next Year http://ow.ly/rPEWI
Closing Costs
Everyone knows that in most cases you need at least a small down payment to purchase a home, but unfortunately that’s not all. You’ll also need to have money for closing costs, which can be quite costly.
Your lender is required by the Real Estate Settlement Procedures Act (RESPA) to provide a good faith estimate of your closing costs. This estimate is an itemized list of fees you’ll pay to get a loan.
Mortgage closing costs cover things like appraisals, attorney fees, title insurance, taxes, and any other expenses associated with getting a loan.
A property appraisal is generally required before a loan can be approved to ensure that the mortgage loan amount is not more than the value of the property. An appraiser is needed to make this determination.
A survey of the property is usually required to verify that boundary lines for your property, easements, and fences are…
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US Title Park City 