How “Liquidated Damages” Benefits Home Sellers

August 24, 2009
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Listen up, home sellers! You can still earn from prospective buyers who weasel out of a deal through purchase contract contingencies.  Such contingencies allow cancellation of a contract without penalty for the buyer, and the buyers would even get back an earnest money deposit.  All along, you thought that your buyer was serious in buying your home through a contract, but he has actually been playing on the safe side through purchase contract contingencies.  So, what can you do to counteract such a mischievous plan?

Get a “Liquidated Damages” contract! But make sure that you and your homebuyer will both be signing this contract.  Otherwise, it is going to be useless.…

Posted by: Admin |
Filed Under: Buying Tips, Real Estate, Selling Tips

Your Own Version of a Mortgage Burning Service

August 23, 2009
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Church mortgage burning services are becoming more and more popular these days.  And why not, saying goodbye to mortgage debt calls for a celebration.  Something that’s supposed to be stressful (mortgage payment) is made fun through such celebrations.  It’s like a big, bright and shining goal that have just been met through the church-goers’ team effort.

Now if you are considering having a similar celebration in your own home, we would just like to share with you these tips before you fire up the merriment:

* Check with your lender before you consider your loan paid in full. Simply sending the final check does not necessarily guarantee that your loan is paid…

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Filed Under: Loans, Mortgage, Real Estate

Lowe’s & Home Depot Struggle Due to Consumers Scaling Back on Home Repairs

August 23, 2009
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Due to the economic meltdown, less and less families are buying homes.  The real estate community knows this very well and maybe even expected it to happen.  But what they were not really expecting was that families would stop investing in their current home altogether.  Despite the fact that a home is most likely any person’s biggest investment, more people nowadays just want to leave it at that.  They opt not to build more around it.

As homes age, they also can’t help but wear out; so, the need for repairs is almost inevitable.  However, it seems that many homeowners are ignoring this need and are perhaps just allocating their repair…

Posted by: Admin |
Filed Under: Real Estate, Real Estate Investment

Shopping for Mortgage Made Easy Online

August 21, 2009
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Almost everyone has a computer nowadays—the one with internet access, to be exact.  Mortgage companies know this for a fact and so they have swarmed the World Wide Web where there are a lot of prospective customers.

Just a brief review: a mortgage is the act of using property as security for debt repayment. In most cases, land and real estate is all that can be mortgaged, as opposed to property, such as ships, cars, etc.

It is very rare that a person has the entire sum of money on hand when he’s buying a home, so he chooses to purchase a mortgage loan.  Do you know that average person purchases at…

Posted by: Admin |
Filed Under: Mortgage, Real Estate

How to Get a Low Mortgage Interest Rate

August 21, 2009
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If you are planning to make a loan, it is best that you know the ins and outs of mortgage interest for you to get the best rate possible.  But first things first; let us define what mortgage interest is.

Mortgage interest is simply the price you pay for borrowing money from a lender to purchase or refinance a home.  Your key to home ownership is a low mortgage interest rate.

When you get a loan from a bank, expect that there will always be an additional payment that you have to make aside from the amount you are borrowing.  The act of borrowing itself comes with a fee, and that is…

Posted by: Admin |
Filed Under: Buying Tips, Loans, Mortgage, Real Estate

What Men and Women Prefer When it Comes to Real Estate; Survey Says…

August 21, 2009
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It’s not exactly a battle of the sexes after all when it comes to real estate, says a new survey by Coldwell Banker.  Actually, it is more like an “agreement of the sexes.” Although there were differences in their answers, what matters is that these men and women find their common ground where they could build on a good home.

The survey was about men and women’s approach to buying a house.  There were 1,000 respondents gathered for the said survey.  One of the commonalities reflected by the results was that men and women both prefer a home office.  That is one of the leading drivers in new house purchases.  Another…

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Filed Under: Real Estate

Commercial Real Estate Lending is Back in the Game

August 20, 2009
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The commercial real estate lending had been on the rocks for quite a while.  But with a credit crunch that severe, it must have already hit rock bottom.  Therefore, there really is no other way to go but up.  That is very mush apparent on the West Coast as it looks like there is more money available there at the moment.  Finally, for anyone who owns commercial property and is unable to roll over their loans, they must now be thinking that there is light at the end of the tunnel after all.

From Reuters:

The lack of financing has been a chief cause of falling values on office, retail and apartment…

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Filed Under: Commercial Real Estate

Energy Efficient Mortgages and their Long Term Benefits

August 20, 2009
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Do you want to save up on your mortgage loan? Then Energy Efficient Mortgage is right for you.  It gets even better if you are an environment advocate as Energy Efficient Mortgages save a lot of energy, which in turn lessens the need for consumption of fossil fuels that are harmful to the environment.

Energy Efficient Mortgages are available on most homes. Factors such as location, home price, or which utility company services the area do not limit opportunities to obtain one of these cost-saving loans.

You can potentially save money by using an Energy Efficient Mortgage, also known as an EEM, whether you are buying, selling, refinancing, or even remodeling your…

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Filed Under: Green Real Estate, Mortgage
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