| The Benefits Of Paradise Home Ownership The decision to purchase a Paradise home is exciting and a major investment for your future. One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn't their own. In some cases, renting a home is necessary. For all others, the money that would be spent on rent could instead be used to pay a mortgage. In fact, monthly rent payments often exceed that of a typical mortgage payment. One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home's equity. When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner. In addition, you may even be able to use your home's equity to finance some needed improvements and/or repairs. In some cases, these changes may even increase the value of your home. An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value. Another advantage of home ownership is the tax benefits that are available. The interest paid on a home mortgage as well as most property taxes paid are tax deductible. For additional information on deducting mortgage interest and property tax, consult the IRS or a tax professional. In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history. |
Monday, October 3, 2011
The Benefits Of Paradise Home Ownership
Tuesday, June 1, 2010
Plenty of Reasons to Buy a Home Even After the Tax Credit
Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers
Plenty of Reasons to Buy a Home Even After the Tax Credit
Even though the home buyer tax credit expired on April 30 and won't be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around forever.
"The home buyer tax credit was just one of many factors motivating Americans to buy homes," said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. "But buyers can still take advantage of today's low interest rates and competitive prices to get a home they may not have been able to purchase just a few years ago."
Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated from the highs of the housing boom that occurred in most of the country, especially in major markets where they had increased significantly.
Today's new homes are also built to be much more energy efficient than homes constructed a generation ago, making them more affordable to operate. New homes are designed to support modern lifestyles with open floor plans, flexible spaces, improved safety features, and low-maintenance materials.
Consumers who are thinking about buying a home should not count on interest rates or prices staying at current levels, however. Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family's budget. As the country recovers from the recession and people stabilize their financial situations, NAHB economists expect that home prices will begin to increase by 2011.
NAHB's home buyer brochure "Opportunity Knocks for Home Buyers" describes many of the opportunities in today's market, as well as the long-term financial benefits of homeownership. It provides examples of how interest rates affect monthly mortgage payments and the typical federal tax savings over the first five years of homeownership. The brochure can be downloaded from NAHB's web site at: www.nahb.org/homebuyerbrochure.
The home buyer tax credit is still available for eligible home buyers who had a signed sales contract by the April 30 deadline and who close by June 30, 2010, as well as for qualified members of the military, foreign service and intelligence communities, who have until April 30, 2011, to sign a contract.
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For more information, you can visit my Web site or feel free to give me a call.
Tammy Vertrees, Paradise California Realtor
530-413-8383 Direct
530-872-5428 Office
Follow me on TWITTER
I specialize in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas. I provide my clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.
Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.
© Tammy Vertrees 2010. All Rights Reserved.
Wednesday, April 28, 2010
Paradise Home Buying Negotiating Tips
Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers
Paradise Home Buying Negotiating Tips
When it comes to buying a Paradise home, the ability and willingness to negotiate is a must for both the buyer and seller. In general, sellers ask for more than they are actually willing to accept and buyers offer less than they are willing to pay. The trick is to find the perfect balance so that you, as a buyer, feel good about the purchase price without leaving the seller feeling insulted.
Know Your Paradise Market
Real estate is a business that either favors the buyer or seller, hence the terms buyer's market and seller's market. When negotiating a purchase price, it's important to know which of the two you are in. As the buyer, you will have the best chance at a successful negotiation if you research the price of other comparable homes in the Paradise area before making an offer.
Make It Personal
When you make an offer, the seller will see nothing more than a piece of paper with some numbers on it that represent the price you are willing to pay. If you really want the seller to take your offer to heart, let them know why you want to buy the home. You can do this by preparing a handwritten letter expressing your interest and the reasons you fell in love with their house. If you have a family, tell them about everyone who will be living in the home. Let them get to know you and allow them to picture the happiness that you can bring to their house. Believe it or not, some sellers actually look at the process like finding a good home for a lost puppy. They want quality people to buy their home, so do your best to show them that you are sincere.
Nobody Likes Rejection
Not every offer is accepted, so don't be disheartened if your first offer isn't a winner. In some cases, the seller will make a counteroffer for your consideration. Have you ever heard the old saying, “never take the first offer?” The same is true in real estate and almost every seller thinks it. Your first offer is likely to be less than you are actually willing to pay, which leaves you some bargaining room.
Why Your Offer May Not Be Accepted
There are a number of reasons why a seller may choose to reject an offer, including a feeling that the offer was just too low, the house is newly listed on the market or another offer may be higher than the one you created. In some cases, sellers may also reject an offer that includes owner financing or other requests that are impossible to meet. One example may be an offer that requires the house be available within a certain amount of time. Most contracts require that the seller move out within 30 days, but anything less would require negotiation.
For more information, you can visit my Web site or feel free to give me a call.
Tammy Vertrees, Paradise California Realtor
530-413-8383 Direct
530-872-5428 Office
Follow me on TWITTER
© Tammy Vertrees 2010. All Rights Reserved.
About the Author: Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California. Ms. Vertrees specializes in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas. Ms. Vertrees provides clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.
Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.
Monday, April 12, 2010
Common Misconceptions Among Home Buyers
Common Misconceptions Among Home Buyers
Misconception: If you pay list price, you're paying too much.
If you don't know what the current market value is for homes in the area and whether the market is appreciating or depreciating, you don't know what a fair price is and you're likely to miss out on a great deal by trying to low ball a house that's already priced well.
If the house meets your goals, is within your budget, and is priced competitively, it's a bargain and you should make a strong offer. Get assistance from a professional to help you recognize a good deal and grab it before it's gone.
Misconception: Foreclosures and short sales are the best buys.
Many buyers find out the hard way that foreclosures and short sales are full of headaches, may need extensive repairs, require great patience over an extended period, often don't have the criteria that's most important to you, and may never close.
Short sales abound in Butte County and many people are starting to avoid them because the pain isn't worth the gain. Foreclosures can be less troublesome, but often in poor condition with challenges that may take longer than normal to resolve. Market prices have corrected in many places, including Butte County, and it's possible to find great deals in homes that are priced like short sales, but don't have the headaches.
Misconception: You get a better price if you buy directly from the owner.
Bargain hunters sometimes avoid Realtors, thinking that they will get a better price if they buy directly from a FSBO. Meanwhile, the sellers are also trying to save on the commission, so they're not getting expert advice either and often price their homes above market value.
The end result is often that a buyer pays too much or the FSBO is unable to get the house sold. A savvy Realtor working on the buyer's behalf, armed with market data and great negotiation skills, is much more likely to get a great deal than buyers can by negotiating for themselves.
If you're buying a house, it's a great idea to find a good Realtor and listen to their advice.
Monday, April 5, 2010
Top 10 Home Buying Mistakes for Paradise & Magalia CA
Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers
Top 10 Home Buying Mistakes
Buying a home is perhaps the most arduous, expensive and, ultimately, valuable acquisition you'll ever complete
Just one mistake could mean disaster -- perhaps the worst mistake you'll ever make.
In order to avoid titanic trip ups during such a trying transaction, Paradise and Magalia buyers should get to know the most common home buying blunders.
To know them is to avoid them.
1. Mortgage financing: You may be preapproved but is the house? A formal appraisal confirms -- or not -- that there is sufficient value in the home to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.
2. Inspection: Never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.
3. Insurance: Confirm you can get adequate insurance coverage. In some areas, or following certain disasters, it can be difficult to get types of hazard insurance.
Wondering What Your Home Is Worth? -- Let me show you.