Many people aspire to become high earners but lack that extra bit of guidance required to nudge them in the right direction. Without realising it, they could be literally just months away from a new career and doubling their incomes.
We all strive for success by studying for university degrees, attend courses and continuously look for a spark for direction in life and it's not until we see a professional person in front of us that we realise that it's the job that we would like to do. It seems easy watching that individual working at the height of their career without realising what price they have had to pay to achieve success.
If you are looking for a career change, you could consider the mortgage industry. For the right individual the position of mortgage adviser can be extremely satisfying if you enjoy helping people. Are you looking for an opportunity in the UK mortgage industry and finding it hard to get on to the mortgage adviser job ladder?
So what criteria should you use when deciding on your future career direction? Well, try asking yourself a few of the following questions:
· Do you think that you would enjoy helping people with their finances?
· Would you prefer to be an employee?
· Would you like to be self-employed?
· Are you determined to become a high earner?
· Are you intent on being successful?
· Would you like to be in charge of your own destiny?
A 'yes' answer to most of these could mean that you could consider investigating how to become a mortgage adviser but before you do, let's look a little further. The start to becoming a mortgage advisor means is passing a mortgage advice qualification and in my opinion the most recognised one in the UK is the Certificate in Mortgage Advice and Practice (CeMAP)
Being in the Financial Services Industry for over 20 years, many people have asked me what it takes to become a successful mortgage adviser. As the Marketing Director of Money Marketing Limited, a company that offers mortgage adviser training courses to hundreds of budding UK mortgage advisers per month, I feel that I am well qualified to answer that question.
It takes dedication, focus, hard work and the ability to strive for success and a little help from a mortgage adviser training course.
Many people ask, do you need to have a degree to pass the exams? The answer is that you will not need academic qualifications to be able to pass the Cemap exams but one thing you will need is a strong desire to succeed in a highly competitive industry. If you are considering a career in the UK Financial Services Industry as a mortgage adviser but are finding it hard to get your foot in the door, why not let a dedicated team of industry-experienced mortgage adviser training professionals lead the way.
Having said that, it can be easy for the gifted people who are just natural at passing academic exams. I recently spent a week with a group of 10 delegates on a CEMAP 2 & 3 training course and the range of abilities on the course was extremely diverse. The challenge here for the cemap trainer was to get them all to the same standard by the end of the week and prepare them for their exams, the week after. Nine out of the ten passed their relevant exams.
The challenges of the CeMAP exams are that you need to learn the qualification content and pass the exams at 70% but that is not all. Many people coming into the mortgage industry have not sat exams for years and in some cases not since they left school. Our CeMAP training courses were built for individuals who are new to the mortgage industry and as a consequence, we teach the course content and mock examine you on a daily basis.
The advantage to this system is obvious, not only are you learning the course content but the exam techniques as well. With strengths and weaknesses identified on a daily basis, it is easy to identify the areas that require extra tuition during the week. This proven system allows us to help hundreds of people get through their Certificate in Mortgage Advice & Practice (CeMAP) exams per month.
Do take care, as the route to becoming a mortgage adviser could be fraught with dangers for the unprepared and under researched person, as the journey could be a long and arduous one. Care should be taken when choosing the company for the initial CeMAP training as many organisations are strictly in the business of offering either a two-day revision course or a self-study CeMAP examination course that in our opinion is not enough.
Furthermore, there are unscrupulous organisations that may try to lure individuals into offering cheap mortgage adviser training courses and then taking £5,000, £6,000 or even £9,000 off them in an attempt to recruit them into their mortgage business as mortgage advisers or offering expensive and unnecessary mortgage franchises.
You could be a qualified mortgage adviser after just days of intensive, fast track mortgage adviser training and be on your way to becoming a high earner. Let your imagination run away with itself and picture the nice house, the quality car, the white sands on holiday and the clothes that you have always dreamed of.
Most mortgage advisors working for banks, building societies and estate agents work on a salary plus a bonus system and the employer keeps the bulk of the commission income generated from the sale of mortgages and insurances. The packages on offer to the employed trainee mortgage adviser can range from a minimum of £15,000 pa plus car and bonuses, to £35,000 pa plus car and bonuses, dependent upon what part of the country you work in.
The self-employed mortgage advisor however can determine his/her own income but this can depend on a number of factors but the sky's the limit.
Joe Kocsis the author has been in the UK Financial Services Industry for over 20 years. Follow the link http://www.cemap-training.org.uk cemap training for further information.
http://www.wirral-estate-agent.info/Mortgage-Adviser-Training.php
Saturday, July 14, 2007
How To Make The Home Buying Decision Easier
Purchasing a home can be a very big decision. There are many things that you need to consider when purchasing a home. Nothing about this process is easy. First you have to decide where you want to be located, and what you want your house to have. A few questions you need to think about are: do we want a garage, how many bedrooms and bathrooms do you want, do you want a basement, and how big of a yard do we want? You will also need to decide which of these items you are willing to compromise on.
If you are serious about purchasing a new house you may also want to start shopping around for a bank where you can get a mortgage that you like. Once you find your house you want to purchase you will not want to waste any time getting moved in.
Many banks offer you the option of pre qualification. With this you will know how much you can spend on a house based on how much your loan can be. Banks take into consideration your income and your debt to determine how much they think you can afford for a house payment. This may be something you want to know before you start getting too excited about a house. You may have a limit to how much you can spend, and this could save you time when looking at houses.
The bank will also run a credit check to see how your credit is. Your credit score is based on how good you are at paying your bills on time. It also allows the bank to see who else you are in debt to and how much you are in debt. This may also affect your loan amount. If you have good credit the bank may be more willing to work with you on a loan amount.
You will also want to check around to see which bank can get you a better interest rate. Some banks can offer better interest rates than others. Your interest rate may also depend on your credit score. You want to find the bank that will give you the lowest interest rate, as this will also affect your payment. Your interest affects how much you actually end up paying for your house by the time it is paid off. You will also need to decide if you want a fixed interest rate or not. Some banks offer you a lower interest rate to begin with, and then increase the rate later on. You will want to check if this type of interest rate has a limit to how high it can go.
Not all banks can offer you the same types of loans. If you would like a first time homebuyer's loan you will need to talk to the banks that offer this type of loan. They are loans that are backed by government. Loans that are not backed are called conventional loans.
You can also get loans that require no or low down payments. Closing costs are another expense you need to consider. Some banks charge more than others and some offer no closing costs.
You have many things to consider when choosing a bank for your loan. Make sure you do not limit yourself, shop around before you make your decision. Find a bank that is willing to work with you. You need to keep in mind what kind of loan you want, what kind of interest rate and payment works for you, and how much you have for down payment and closing costs.
Gregg Hall is an author living in Navarre Florida. Find more about this as well as Shop 4 Mortgage Rates at http://www.shop4mortgagerates.com
http://www.wirral-estate-agent.info/How-To-Make-The-Home-Buying-Decision-Easier.php
If you are serious about purchasing a new house you may also want to start shopping around for a bank where you can get a mortgage that you like. Once you find your house you want to purchase you will not want to waste any time getting moved in.
Many banks offer you the option of pre qualification. With this you will know how much you can spend on a house based on how much your loan can be. Banks take into consideration your income and your debt to determine how much they think you can afford for a house payment. This may be something you want to know before you start getting too excited about a house. You may have a limit to how much you can spend, and this could save you time when looking at houses.
The bank will also run a credit check to see how your credit is. Your credit score is based on how good you are at paying your bills on time. It also allows the bank to see who else you are in debt to and how much you are in debt. This may also affect your loan amount. If you have good credit the bank may be more willing to work with you on a loan amount.
You will also want to check around to see which bank can get you a better interest rate. Some banks can offer better interest rates than others. Your interest rate may also depend on your credit score. You want to find the bank that will give you the lowest interest rate, as this will also affect your payment. Your interest affects how much you actually end up paying for your house by the time it is paid off. You will also need to decide if you want a fixed interest rate or not. Some banks offer you a lower interest rate to begin with, and then increase the rate later on. You will want to check if this type of interest rate has a limit to how high it can go.
Not all banks can offer you the same types of loans. If you would like a first time homebuyer's loan you will need to talk to the banks that offer this type of loan. They are loans that are backed by government. Loans that are not backed are called conventional loans.
You can also get loans that require no or low down payments. Closing costs are another expense you need to consider. Some banks charge more than others and some offer no closing costs.
You have many things to consider when choosing a bank for your loan. Make sure you do not limit yourself, shop around before you make your decision. Find a bank that is willing to work with you. You need to keep in mind what kind of loan you want, what kind of interest rate and payment works for you, and how much you have for down payment and closing costs.
Gregg Hall is an author living in Navarre Florida. Find more about this as well as Shop 4 Mortgage Rates at http://www.shop4mortgagerates.com
http://www.wirral-estate-agent.info/How-To-Make-The-Home-Buying-Decision-Easier.php
Why use a Fast House Buyer when Selling your Home?
There are many reasons why people are now selling their properties to companies which buy homes for cash.
Firstly if they decide to sell by this method they are in control of the sale of their home and therefore are not reliant on Estate Agents to make that all important sale for them.
Secondly, by using this method of selling their property they are provided with some privacy as there will being no “for sale” boards outside the house and not having to deal with the endless viewings that the Estate Agent sets up. Plus these companies provide them with complete confidentiality when buying the property.
Another advantage to selling a property by this method is that people are able to decide upon a moving date which is agreeable to them rather than to the purchaser and sometimes you will find that these companies will purchase a property because the seller has to sell (say due to a divorce, need to relocate quickly etc) and allow them some concession on the time period for when they leave the property.
Also many of these companies are willing to purchase all sorts of properties and will even consider a property that is in need of some renovation.
The next point people should consider when thinking of selling their home by this method is that they may well be in a situation where they wish to break a property chain rather than waiting to find the right purchaser for their home as they have already found the property that they want to buy. It has been found that being in a property chain can be quite stressful especially if people are having to do everything within a certain timescale (i.e., needing to relocate because of work commitments etc., or because they are likely to lose the property that they wish to buy).
These companies offer you the chance to sell your property in a quick and efficient timescale and will provide you with a competitive price for your property. Also by selling your property by this method you will find that you will save on having to pay Estate Agent, Survey and Legal Fees.
Finally, such companies will normally be able to provide you with a offer for you property within 24 hours of viewing it.
If you should require any further information or have any questions please go to http://www.fasthousebuyers.co.uk.
Author: Allison Thompson with 15 years experience in the property market.
Allison Thompson, now lives in Spain and has 15 years experience in the property field.
http://www.wirral-estate-agent.info/Why-use-a-Fast-House-Buyer-when-Selling-your-Home.php
Friday, July 13, 2007
How to sell your home in a cold housing market
Describes a cold housing market and ways to make your house more marketable in a colder markets. Information on marketing accordingly, tips on selling.
Selling your home in a cold housing market can be a challenging and stressful task. For most people, the threat of having to make two house payments is alarming. However, if you can tolerate the short-term cash flow difficulties of making two house payments, then you can buy yourself time to find a buyer without having to price your house too low. A cold housing market is also called a “buyer’s market” because buyers are scarce and they can therefore expect to find bargains on homes. Sellers are challenged to attract these buyers and it can be very tempting to lower the price too quickly in order to broaden the pool of potential buyers.
If you have a real estate agent, they will prepare a list of comparable properties that have recently sold and will recommend a price for your home. The list of comparable properties will also show how long they were on the market before they sold. This will give you an idea of how long you should expect it to take you to sell your home. It’s always better to plan for the worst or at least the most typical case. In a cold market, you should expect that the buyers will not pay the asking price and will offer 10 – 15% less. Make sure that you have given yourself enough leeway so that you can reduce the sales price at least 5% - 10% in order to close the deal.
Obviously in order to sell your house, you have to find a buyer. And if you expect to sell your house at an optimum price in the shortest amount of time, you have to find the RIGHT buyer. The buyer that you are trying to find is one that really values the house and is willing to pay a premium for those things that they value. Value is in the eye of the buyer but you will need to identify what the valuable aspects of your house are and make sure that you emphasize them to the market. As an example, if your house has the nicest yard in the neighborhood, then you should make sure that the yard is immaculate and that pictures of the property show off the yard as a feature. If your house is the largest house in the neighborhood, then you should consider emphasizing the price per square foot as a value point. Think hard about what features your house has that differentiates it from the other houses on the market. The RIGHT buyer will be looking for those features and will value them accordingly.
In a cold market, you can’t afford to leave potential buyers unimpressed. You need to keep your property in tip-top condition so that it is ready to show. Make sure the house looks clean, smells clean and shows off its’ best features at all times. If your house or neighborhood show well at night, you or your agent should invite the potential buyers back early in the evening so they can see its’ special value during that time. If you have surveys, plats, and owners manuals that go with the house, consider packaging those up for the serious potential buyers to view. This shows the buyer that you really cared for the home and that you have most likely maintained it well.
In a cold housing market, the RIGHT buyer may be very difficult to find. You may only be able to attract bargain-hunters who are unwilling (or unable) to pay what your home would be worth in a hot housing market. If you hope to get top dollar, you will have to wait until the right buyer comes along or until the housing market gets better. This could take months or even years. If you must sell your house quickly, you must consider the bargain-hunting buyers as legitimate prospects and you must recognize their primary interests.
Since bargain-hunters are usually motivated most strongly by the price of a home, you should consider things that don’t necessarily have to be sold with the house as potential bargaining points. Things like portable storage sheds, portable hot tubs, above ground pools, swing sets, playscapes, and many other things can be reasonably removed from the home before you sell it. You can deduct the value of these things from the asking price of the home in order to lower the price and attract more buyers. Once the buyer is ready to make an offer, they may ask that those things stay with the house and you can then utilize them as bargaining points in the negotiation. The key is that you have created a way to legitimately lower the asking the price of your home with the potential to up-sell additional features if the buyer wants them. This can encourage bargain-hunting buyers to stretch their spending limit enough to give you a better deal.
Another negotiating point in a cold market is owner financing. This is most practical if your home is paid for or if you have a large amount of equity in the home that you do not need immediately. Owner financing means that you, rather than a bank, would carry the note on the house. The buyer would make payments and interest directly to you. Owner financing is attractive to young buyers with little or no credit history because it is often difficult for them to come up with a large down payment that a bank or mortgage company would require. Owner financing doesn’t come without it’s risk and headaches but it is one way to attract a particular segment of the potential buyers in a cold market.
Lastly, if you aren’t attracting any serious prospects then you should consider lowering the price of your home. Having the lowest priced house in cold housing market is a sure-fire way to attract potential buyers. Buyers typically have a maximum price they are willing to pay for a home. So lowering the price expands the pool of interested buyers immediately. How much you lower it depends on several things:
1. Your ability to make the payment on your home.
2. How much you still owe on your home.
3. How much time, energy or money you have to continue maintaining and showing your home.
If your house is paid for and you aren’t paying for two mortgages, then you can likely afford to lower the price slowly. On the other hand, if your monthly cash flow doesn’t allow you to easily make 2 house payments, then you will need to lower the price more rapidly. A lot of people make the mistake of considering any mortgage payments that they continue to make on their home as lost money. In reality, every payment that you make is adding to your equity in the house which you will get back when you eventually sell it. The only lost money is the interest, insurance, taxes and maintenance that you are paying every month. So keep this in mind when deciding how much you should lower the price of your home.
Selling your home in a cold market can require patience and persistence. It’s hard not to get frustrated. But with a good plan based on realistic expectations, you can successfully market and sell your home without giving up your equity. And with the right marketing and pricing, you can greatly improve your chances of finding the RIGHT buyer.
http://www.essortment.com/home/sellhomehouse_sfez.htm
Selling your home in a cold housing market can be a challenging and stressful task. For most people, the threat of having to make two house payments is alarming. However, if you can tolerate the short-term cash flow difficulties of making two house payments, then you can buy yourself time to find a buyer without having to price your house too low. A cold housing market is also called a “buyer’s market” because buyers are scarce and they can therefore expect to find bargains on homes. Sellers are challenged to attract these buyers and it can be very tempting to lower the price too quickly in order to broaden the pool of potential buyers.
If you have a real estate agent, they will prepare a list of comparable properties that have recently sold and will recommend a price for your home. The list of comparable properties will also show how long they were on the market before they sold. This will give you an idea of how long you should expect it to take you to sell your home. It’s always better to plan for the worst or at least the most typical case. In a cold market, you should expect that the buyers will not pay the asking price and will offer 10 – 15% less. Make sure that you have given yourself enough leeway so that you can reduce the sales price at least 5% - 10% in order to close the deal.
Obviously in order to sell your house, you have to find a buyer. And if you expect to sell your house at an optimum price in the shortest amount of time, you have to find the RIGHT buyer. The buyer that you are trying to find is one that really values the house and is willing to pay a premium for those things that they value. Value is in the eye of the buyer but you will need to identify what the valuable aspects of your house are and make sure that you emphasize them to the market. As an example, if your house has the nicest yard in the neighborhood, then you should make sure that the yard is immaculate and that pictures of the property show off the yard as a feature. If your house is the largest house in the neighborhood, then you should consider emphasizing the price per square foot as a value point. Think hard about what features your house has that differentiates it from the other houses on the market. The RIGHT buyer will be looking for those features and will value them accordingly.
In a cold market, you can’t afford to leave potential buyers unimpressed. You need to keep your property in tip-top condition so that it is ready to show. Make sure the house looks clean, smells clean and shows off its’ best features at all times. If your house or neighborhood show well at night, you or your agent should invite the potential buyers back early in the evening so they can see its’ special value during that time. If you have surveys, plats, and owners manuals that go with the house, consider packaging those up for the serious potential buyers to view. This shows the buyer that you really cared for the home and that you have most likely maintained it well.
In a cold housing market, the RIGHT buyer may be very difficult to find. You may only be able to attract bargain-hunters who are unwilling (or unable) to pay what your home would be worth in a hot housing market. If you hope to get top dollar, you will have to wait until the right buyer comes along or until the housing market gets better. This could take months or even years. If you must sell your house quickly, you must consider the bargain-hunting buyers as legitimate prospects and you must recognize their primary interests.
Since bargain-hunters are usually motivated most strongly by the price of a home, you should consider things that don’t necessarily have to be sold with the house as potential bargaining points. Things like portable storage sheds, portable hot tubs, above ground pools, swing sets, playscapes, and many other things can be reasonably removed from the home before you sell it. You can deduct the value of these things from the asking price of the home in order to lower the price and attract more buyers. Once the buyer is ready to make an offer, they may ask that those things stay with the house and you can then utilize them as bargaining points in the negotiation. The key is that you have created a way to legitimately lower the asking the price of your home with the potential to up-sell additional features if the buyer wants them. This can encourage bargain-hunting buyers to stretch their spending limit enough to give you a better deal.
Another negotiating point in a cold market is owner financing. This is most practical if your home is paid for or if you have a large amount of equity in the home that you do not need immediately. Owner financing means that you, rather than a bank, would carry the note on the house. The buyer would make payments and interest directly to you. Owner financing is attractive to young buyers with little or no credit history because it is often difficult for them to come up with a large down payment that a bank or mortgage company would require. Owner financing doesn’t come without it’s risk and headaches but it is one way to attract a particular segment of the potential buyers in a cold market.
Lastly, if you aren’t attracting any serious prospects then you should consider lowering the price of your home. Having the lowest priced house in cold housing market is a sure-fire way to attract potential buyers. Buyers typically have a maximum price they are willing to pay for a home. So lowering the price expands the pool of interested buyers immediately. How much you lower it depends on several things:
1. Your ability to make the payment on your home.
2. How much you still owe on your home.
3. How much time, energy or money you have to continue maintaining and showing your home.
If your house is paid for and you aren’t paying for two mortgages, then you can likely afford to lower the price slowly. On the other hand, if your monthly cash flow doesn’t allow you to easily make 2 house payments, then you will need to lower the price more rapidly. A lot of people make the mistake of considering any mortgage payments that they continue to make on their home as lost money. In reality, every payment that you make is adding to your equity in the house which you will get back when you eventually sell it. The only lost money is the interest, insurance, taxes and maintenance that you are paying every month. So keep this in mind when deciding how much you should lower the price of your home.
Selling your home in a cold market can require patience and persistence. It’s hard not to get frustrated. But with a good plan based on realistic expectations, you can successfully market and sell your home without giving up your equity. And with the right marketing and pricing, you can greatly improve your chances of finding the RIGHT buyer.
http://www.essortment.com/home/sellhomehouse_sfez.htm
How to lower your mortgage payment
Take steps like these to lower your monthly mortgage payment to make your both your house payment and your budget more manageable.
For most people, the monthly mortgage payment is the largest in their budget. Ideally it should comprise no more than thirty-three percent of the breadwinners' take-home pay; twenty-five percent is better.
If your budget is tight, filled with extra, unexpected medical bills, or if your income has dropped off, you may want to ponder some ways of reducing your monthly mortgage. Here are a few ideas that may prove worthwhile:
1. If your payment is so high that you are having trouble meeting the monthly budget, it may be time to downsize. Find a cheaper home that will require a smaller bite of your income and sell your present, more expensive home. Whatever your family size, you should be able to find a more affordable home that need not be smaller, but may require a little fixing up or perhaps is located in the suburbs or countryside.
2. Buy and live in a multi-unit rental property. Depending on market conditions, you may be able to live in one side of the duplex and rent out the other half at a rental fee that will cover part of your monthly payment as well. Eventually you can pay off the building or sell it to move into a single-family home if you prefer. Living on the premises of your rental property means that you can monitor tenants' treatment of the unit and be available for emergency repairs or calling a technician.
3. Refinance your home loan for a cheaper rate. Wait for favorable market conditions and then shop for a loan provider that will beat your current interest rate. Make sure you plan to live in the home for some time to come so that any payment of a loan processing fee, points, or other costs will be redeemed in the long run. You will not only have a smaller monthly payment, but perhaps be able to pay off the home sooner, too.
4. Add occasional chunks of cash to your principal balance to pay it down and eliminate mortgage insurance. While this sounds contradictory to the idea of having a smaller mortgage payment, by reducing the amount owed on the principal, you may be able to have the mortgage insurance payment removed from the overall payment, reducing the amount you will be required to pay each month.
5. When refinancing, look for the best deal. Not only will a lower interest rate help to reduce your monthly payment, but the overall loan application package can affect your new monthly mortgage payment. Some banks or financial institutions waive the application fee (typically between $100 and $300) while others limit or eliminate the number the points paid on the loan (often $1,000 or more each). Wrapping these fees, and others, into your overall loan will impact the amount of the monthly payment. Shop for the lowest rates and smallest fees.
Since most people get a thirty-year home loan, it pays to find ways to make the monthly payment as small as possible. Consider strategies like these to reduce yours to a more affordable rate.
http://www.essortment.com/career/lowermortgagep_sgsw.htm
For most people, the monthly mortgage payment is the largest in their budget. Ideally it should comprise no more than thirty-three percent of the breadwinners' take-home pay; twenty-five percent is better.
If your budget is tight, filled with extra, unexpected medical bills, or if your income has dropped off, you may want to ponder some ways of reducing your monthly mortgage. Here are a few ideas that may prove worthwhile:
1. If your payment is so high that you are having trouble meeting the monthly budget, it may be time to downsize. Find a cheaper home that will require a smaller bite of your income and sell your present, more expensive home. Whatever your family size, you should be able to find a more affordable home that need not be smaller, but may require a little fixing up or perhaps is located in the suburbs or countryside.
2. Buy and live in a multi-unit rental property. Depending on market conditions, you may be able to live in one side of the duplex and rent out the other half at a rental fee that will cover part of your monthly payment as well. Eventually you can pay off the building or sell it to move into a single-family home if you prefer. Living on the premises of your rental property means that you can monitor tenants' treatment of the unit and be available for emergency repairs or calling a technician.
3. Refinance your home loan for a cheaper rate. Wait for favorable market conditions and then shop for a loan provider that will beat your current interest rate. Make sure you plan to live in the home for some time to come so that any payment of a loan processing fee, points, or other costs will be redeemed in the long run. You will not only have a smaller monthly payment, but perhaps be able to pay off the home sooner, too.
4. Add occasional chunks of cash to your principal balance to pay it down and eliminate mortgage insurance. While this sounds contradictory to the idea of having a smaller mortgage payment, by reducing the amount owed on the principal, you may be able to have the mortgage insurance payment removed from the overall payment, reducing the amount you will be required to pay each month.
5. When refinancing, look for the best deal. Not only will a lower interest rate help to reduce your monthly payment, but the overall loan application package can affect your new monthly mortgage payment. Some banks or financial institutions waive the application fee (typically between $100 and $300) while others limit or eliminate the number the points paid on the loan (often $1,000 or more each). Wrapping these fees, and others, into your overall loan will impact the amount of the monthly payment. Shop for the lowest rates and smallest fees.
Since most people get a thirty-year home loan, it pays to find ways to make the monthly payment as small as possible. Consider strategies like these to reduce yours to a more affordable rate.
http://www.essortment.com/career/lowermortgagep_sgsw.htm
Real estate buying tips: ready to buy a home?
Tired of apartment dwelling? Maybe it's time to check out current real estate values and make an offer on the home of your dreams.
Paying rent can offset the hassles of caring for a home and property. But a monthly rental payment does not provide equity over the long haul. When you leave the apartment, you take nothing with you.
If you're considering buying a home, there are some things to consider before making an offer. While the idea of owning a house on a piece of land can seem exciting and worthwhile, like anything else, there may be some bugs to work out.
1. Are you financially prepared to buy real estate? Becoming a homeowner requires more of an investment than the monthly mortgage payment. You'll need money for a down payment, moving costs, new furniture, property taxes, and house insurance. Figure out a realistic budget before deciding to bid on an available home. Ideally, your monthly house payment should encompass no more than a third, and preferably a fourth, of your take-home pay.
2. Do you have time for maintenance and upkeep? When you live in an apartment or condo, chances are someone else handles the yard work, appliance repairs, and even routine maintenance like painting or plastering holes in the wall. But when you buy a house, the property and its problems become yours alone. Sure, you can call the plumber on a Saturday afternoon to fix a bathtub leak, but you will pay a premium. Generally it's better to do the work yourself if you know how to do it. Make sure your schedule will allow for these tasks without placing undue pressure on you.
3. Is this a buyer's or a seller's market? Depending on the economic climate, it may not be wise to go house hunting if market conditions favor the seller. You want to have plenty of houses to choose from in a price range you can afford. Don't settle for the first one you see, especially if it falls seriously short of your needs or expectations.
4. Are your circumstances stable? If you've had your current job for less than a year, you may want to wait and be sure the situation will continue. At the annual evaluation mention your interest in buying a home and see how your supervisor responds. If he or she seems to hesitate in supporting your plan, that may be an indication you should wait a while longer. If your spouse and you are planning to have a child, thereby reducing monthly income, can you afford a house on one paycheck?
5. Do you have moving plans? If one of you is still in college or is planning a career change in a couple of years, you may not want to put down roots in this area by purchasing a home. Unless you plan to stay in the house for five years or longer, chances are you will lose rather than make money in buying a home. Talk to a loan counselor or bank official to find out whether a real estate purchase is a good idea at present.
Buying a house is like having a baby. You see a cute one and want one of your own. But sometimes the desire passes, so give yourself some time to think through the ramifications before setting out on your quest for the perfect home.
http://www.essortment.com/career/readybuyhomer_seoj.htm
Paying rent can offset the hassles of caring for a home and property. But a monthly rental payment does not provide equity over the long haul. When you leave the apartment, you take nothing with you.
If you're considering buying a home, there are some things to consider before making an offer. While the idea of owning a house on a piece of land can seem exciting and worthwhile, like anything else, there may be some bugs to work out.
1. Are you financially prepared to buy real estate? Becoming a homeowner requires more of an investment than the monthly mortgage payment. You'll need money for a down payment, moving costs, new furniture, property taxes, and house insurance. Figure out a realistic budget before deciding to bid on an available home. Ideally, your monthly house payment should encompass no more than a third, and preferably a fourth, of your take-home pay.
2. Do you have time for maintenance and upkeep? When you live in an apartment or condo, chances are someone else handles the yard work, appliance repairs, and even routine maintenance like painting or plastering holes in the wall. But when you buy a house, the property and its problems become yours alone. Sure, you can call the plumber on a Saturday afternoon to fix a bathtub leak, but you will pay a premium. Generally it's better to do the work yourself if you know how to do it. Make sure your schedule will allow for these tasks without placing undue pressure on you.
3. Is this a buyer's or a seller's market? Depending on the economic climate, it may not be wise to go house hunting if market conditions favor the seller. You want to have plenty of houses to choose from in a price range you can afford. Don't settle for the first one you see, especially if it falls seriously short of your needs or expectations.
4. Are your circumstances stable? If you've had your current job for less than a year, you may want to wait and be sure the situation will continue. At the annual evaluation mention your interest in buying a home and see how your supervisor responds. If he or she seems to hesitate in supporting your plan, that may be an indication you should wait a while longer. If your spouse and you are planning to have a child, thereby reducing monthly income, can you afford a house on one paycheck?
5. Do you have moving plans? If one of you is still in college or is planning a career change in a couple of years, you may not want to put down roots in this area by purchasing a home. Unless you plan to stay in the house for five years or longer, chances are you will lose rather than make money in buying a home. Talk to a loan counselor or bank official to find out whether a real estate purchase is a good idea at present.
Buying a house is like having a baby. You see a cute one and want one of your own. But sometimes the desire passes, so give yourself some time to think through the ramifications before setting out on your quest for the perfect home.
http://www.essortment.com/career/readybuyhomer_seoj.htm
The best time to sell your home: benefits vs timing
Check several factors before deciding if this is a good time to put your house on the market for possible sale.
Looking around your home, you wonder whether this is a good time to put it up for sale. Perhaps you've lived there a long time and are ready for a change. Or perhaps you need to downsize for health or budget reasons. Before you pick up the telephone to call the realtor, give some thought to issues like the following:
1. How much equity is in your home? If you made a sizable down payment, have lived there several years, or neighborhood property values have skyrocketed, you may be able to get a comfortable profit from the sale of your home. But if you've been there just a few years and the market is fairly flat, your home sale may result in your breaking even or perhaps losing a little bit of money. Get an appraisal or talk to a financial expert before deciding whether to place your house on the market.
2. Is your home in saleable condition? Will you market it as a fixer-upper or an "as is" type of deal? Perhaps you have taken good care of the place for years so that it now should realize a profit. Or you may be in a position to add a few cosmetic touches to enhance the curb appeal and attract potential buyers. But you don't want to go to the trouble of listing the property only to find that no one takes the bait. Go over the home and grounds with a fine-tooth comb to see if there are areas you can improve on or that may affect the list price.
3. Where will you move to? If you plan to downsize or move into an apartment, chances are you need not worry about making a huge profit. But if you would like to buy another home, do you have enough money for the required down payment? Will there be room in your monthly budget for the new house payment, taxes, and interest? Can you afford moving costs and repair fees if something is broken or needs replaced? Check your budget before exchanging one set of expenses for another.
4. Is the selling market stable or strong? Pay attention to the economic news to determine if this is the best time to sell your property or whether you should wait a few months for a market turnaround. Are other listed properties in your neighborhood selling or are they just sitting there without buyers? Traditionally, spring and fall are optimum real estate periods, so factor this into your decision to list or not list.
5. Are your circumstances stable? If a family member is in precarious health, it may be wise to wait until the crisis passes before attempting to sell your home. Stress tests report that selling or buying a home can wreak havoc in a placid lifestyle. Or if you or another family member are planning a job change, do you want the hassle of dealing with a property transaction at the same time? You may want to wait until things settle down before taking on the project of preparing your home for the market.
Selling a house should be more than a whimsical decision. It takes forethought, planning, and preparation to enhance your odds of coming out a winner in the real estate market.
http://www.essortment.com/career/readysellhome_seoi.htm
Looking around your home, you wonder whether this is a good time to put it up for sale. Perhaps you've lived there a long time and are ready for a change. Or perhaps you need to downsize for health or budget reasons. Before you pick up the telephone to call the realtor, give some thought to issues like the following:
1. How much equity is in your home? If you made a sizable down payment, have lived there several years, or neighborhood property values have skyrocketed, you may be able to get a comfortable profit from the sale of your home. But if you've been there just a few years and the market is fairly flat, your home sale may result in your breaking even or perhaps losing a little bit of money. Get an appraisal or talk to a financial expert before deciding whether to place your house on the market.
2. Is your home in saleable condition? Will you market it as a fixer-upper or an "as is" type of deal? Perhaps you have taken good care of the place for years so that it now should realize a profit. Or you may be in a position to add a few cosmetic touches to enhance the curb appeal and attract potential buyers. But you don't want to go to the trouble of listing the property only to find that no one takes the bait. Go over the home and grounds with a fine-tooth comb to see if there are areas you can improve on or that may affect the list price.
3. Where will you move to? If you plan to downsize or move into an apartment, chances are you need not worry about making a huge profit. But if you would like to buy another home, do you have enough money for the required down payment? Will there be room in your monthly budget for the new house payment, taxes, and interest? Can you afford moving costs and repair fees if something is broken or needs replaced? Check your budget before exchanging one set of expenses for another.
4. Is the selling market stable or strong? Pay attention to the economic news to determine if this is the best time to sell your property or whether you should wait a few months for a market turnaround. Are other listed properties in your neighborhood selling or are they just sitting there without buyers? Traditionally, spring and fall are optimum real estate periods, so factor this into your decision to list or not list.
5. Are your circumstances stable? If a family member is in precarious health, it may be wise to wait until the crisis passes before attempting to sell your home. Stress tests report that selling or buying a home can wreak havoc in a placid lifestyle. Or if you or another family member are planning a job change, do you want the hassle of dealing with a property transaction at the same time? You may want to wait until things settle down before taking on the project of preparing your home for the market.
Selling a house should be more than a whimsical decision. It takes forethought, planning, and preparation to enhance your odds of coming out a winner in the real estate market.
http://www.essortment.com/career/readysellhome_seoi.htm
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