It’s a commonly asked question - how much does it cost to build a house vs buying a pre-existing house? You’d think there would be an easy answer to that simple question, but there isn’t. The answer you seek will arise from many different factors that you need to...
Most people finance a home with a mortgage which will require them to go through the underwriting process. The mortgage underwriting process can be a nerve racking time because it’s so revealing of one's personal and financial history. Because of this, it’s important...
The death of a spouse is a terrible event to go through and dealing with the deceased spouse’s affairs can be an equal nightmare. Survivorship or inheritance of the home is a concern for most people and it should not be taken lightly. Generally, a spouse inherits...
Redlining in real estate has been going on at least formally since 1934, when the National Housing Act was created, which also established the Federal Housing Administration. According to the Fair Housing Act of 1968, which made redlining officially illegal,...
Many homeowners these days are considering renting out their spare rooms or entire homes on Airbnb (or other short term rental sites) to make some extra cash. It’s a tempting endeavor to pursue because many homeowners have empty rooms they can share or may be out of...
Over the years in the United States, mortgage lenders have unfortunately been as guilty as other parts of American society in denying equal rights to minorities. This practice in mortgage lending was known as “redlining.” And while redlining has been labeled as...
With the passage and signing of the CARES Act into law on March 27, 2020, the federal government set into motion a massive $2.2 trillion covid-19 relief bill and the largest single economic rescue plan in the history of the US. And in this act are plans to help...
During a transaction that requires a substantial amount of money, like a real estate purchase, trusting the person on the other side of the deal is essential to the success of a deal being made. The concept of escrow can help minimize risk during these large...
How much do real estate agents make? Many real estate agents make their money through a commission structure where they are paid directly for services rendered in the sale of a property or the purchase of property. How much commission a real estate agent makes is...
Buying a house isn’t just buying a house, and buying a house isn’t cheap. While the downpayment is commonly the most substantial amount of what you’re paying when you buy a house, there are a number of other fees you will need to pay as well - either one time or...
Buying a house is often considered one of the most stressful times in a person's life for a number of reasons. But a significant part of this is the amount of money changing hands. Undoubtedly, what adds to that stress are the mysteriously dubbed "closing costs" that...
When you decide to buy a house, it is important that you have money saved. Not only will you need money for closing costs, you are going to need to be able to put as much money down as possible. In fact, the higher your down payment is, the more money that you can...
If your house is in foreclosure or on the verge of foreclosure, you are probably feeling incredibly overwhelmed and stressed. Maybe all you want to do is pretend it’s not happening. But, you’ll help yourself out (short-term and long-term) if you spring into action....
If you're a potential home buyer, you've probably estimated a mortgage payment. One of the items that will make up your monthly mortgage payment is property tax. In this article we will cover what it is and how to find property tax. But, what is property tax? Quite...
Property tax has an impact on your monthly mortgage payment. Therefore, it is extremely important to have an estimate when deciding to buy a home. Several aspects of a property are assessed for its valuation, including the value of similar properties and the overall...
We all reach that decision at some point in our lives; do I keep renting, or bite the bullet and buy a house? There are pros and cons to each side of the renting vs buying a home debate, and a lot of it will depend on your particular situation. However, there are some...
To say that buying a house is a big financial commitment would be an incredible understatement. Deciding to buy a house or a second home in the mountains is the easy part. Actually reaching a point where a lender will help you finance this decision, now that's hard...
So, sure, you know that everyone has a credit score. But what is yours? And what impacts your credit score? Your score can range from 350 to 850 and is entirely dependent on your past financial decisions. If you are considering buying a home, your credit score is...
We get asked frequently, "How much are real estate commissions?" or, "What is the commission you pay to a real estate agent to help you buy or sell a home?" Most people think the answer is around 6%, split between the buyer’s and seller’s agent which is usually...
So you’ve decided to buy a house. Congratulations: You are now on your way toward purchasing a home. The first step is understanding how you get pre-approved to buy a house. Being pre-approved for a mortgage is not the same thing as being prequalified. Pre-qualified...
By now, you hopefully know that a home appraisal is an important part of the home buying and selling process and what happens on a home appraisal. But what is included in the home appraisal? The final report will generally cover the following items: Size and condition...
Now that you know what a home appraisal is, you're probably wondering how is a home appraisal done? An appraiser is required to take several steps to determine a property’s value. He or she will visit the property in-person and review recent sales of comparable homes....
Have you ever wondered how much is paid in Real Estate commissions every year? Stop wondering! TRELORA launched its inaugural Real Estate Commission Report earlier today and the findings are astounding. The report takes a look at the top 10 real estate markets across...
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