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Many home buyers ‘pay in cash’

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Many home buyers ‘pay in cash’



Estate agents have revealed that nearly three quarters of buyers in special property auctions across Ireland paid up front for their purchases.

Allsop Space said that property worth 52 million euro was sold at the auctions, and it has announced plans to hold a further five in 2012 in a slice of good news for people looking to invest in overseas property.

A spokesperson revealed that 72% of buyers paid for their properties in cash, suggesting that sales are coming from savvy buyers who sold properties at the peak of the market and played the waiting game.

Robert Hoban, Allsop Space director of auctions, said: “It’s perfectly reflective of the reality we are in. There are lots of people who want to buy but they can’t because there is no finance from the banks.

“It’s a distorted market.

“There’s an assumption out there that anyone who buys at auction is a hard core vulture, that it’s blood on the streets

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December 29, 2011   No Comments

FHA Home Loans.com – FHA loans – FHA Mortgage Lender

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Q. Can only a first time home buyer use the FHA loan
program?
A. No. You can use  FHA home loans as many times as you desire when
buying a home or doing a mortgage refinance. The only FHA loan
requirements is that you cannot have
more than one outstanding FHA mortgage loan with a loan to value of
higher than 75%. You can own rental property and purchase your primary residence using FHA
mortgage financing.

Q. Can FHASecure
refinance FHA loans help me save my house from foreclosure?
A. Yes. The newly released FHA Secure loan program is designed to help people
with subprime loans that have adjusted after June 2005 who currently
have mortgage late payments or facing foreclosure can refinance using
the FHA home loan program, FHASecure.

Q. Does FHA use a FICO credit score for loan
qualifying?A. No. FHA is one of the only types of real estate mortgage loans

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December 28, 2011   No Comments

Home Insurance makes long-term financial planning possible

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For any given person who is lucky enough to still be a home owner in this age of ‘austerity’ the majority of their wealth is likely locked up in the value of their homes. Relatively speaking, home ownership is a low-risk investment compared with stocks, etc. However for home ownership to be profitable, not only do you have to take care of your property but you have to safe guard from other systemically inherent risk. In other words, property damage is expensive and if you aren’t covered by home insurance there isn’t much you can do if you do not possess the financial flexibility to fix it.

Fixing Damage

Homes can be damaged in a number of ways: fire, flood, wood munching creatures (though not beavers—as far as I’m aware) will all cause costly and time consuming repairs to become necessary.  Often just the cost of repairing damage will justify monthly home insurance premiums.

One of the most common insurance claims I hear up north is from ‘escape of water’ damage caused by burst pipes over winter. This problem often… Continue To Read This Post..

December 14, 2011   No Comments

Selling your home: 5 top tips

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If you are looking to sell your home and are not having much success, there are a number of strategies that can be followed in order to get that quick sale, without losing money in the process. Some people consider remortgages before selling and this can create problems and can become costly, especially as there are often fees involved.

Here are a number of tips you can try to help sell your home quickly and painlessly.

1.  Make sure that the asking price is the correct one

If the price is too high then people will be put off buying any house. Similarly, if the asking price is too low, they may be put off, or they may try to knock the price down further, leaving you with a far smaller amount of money than you had originally planned to receive for the property.

The price of a home needs to be set just right and this can be achieved by checking out a number of valuations from different estate agents. The correct price is normally somewhere in the middle… Continue To Read This Post..

December 9, 2011   No Comments

Government announces home build scheme

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Government announces home build scheme



Housing Minister Grant Shapps has announced more than 430 million of funding to help councils as part of a scheme which encourages the building of new homes or bringing empty properties back in use.

The funding is for the second year of the New Homes Bonus scheme, which saw almost 159,000 homes built or brought into use last year.

Council tax raised from new homes is matched by the Government for the first six years under the scheme.

Mr Shapps said: “There is a culture shift taking place across the country – communities that are going for growth are reaping rewards for their local area, and councillors can now lead a mature debate about the benefits of development.

“The bonus payments for new homes last for six years – so this year’s bonus is more than double the payment from year one, and it’s why communities that continue to welcome new homes can expect to see bigger cash bonuses and improved

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December 3, 2011   No Comments

Age of buying first home to rise

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Millions of young people will never own their own homes and many won’t be able to get on the property ladder until their 40s.

The warning came from the Bank of England who said house ownership is set to fall sharply.

It is devastating news for those trying to secure their own home and will put even more pressure on the mortgage and remortgage markets.

With lenders still cautious about taking small deposits and wages not rising the situati9on doesn’t look like it will improve.

David Miles, from the Bank, said he understood that most people put “great value on having a home that they can reliably call home for many years”, but said many will have to bury their dream.

Before the economy went belly-up about half of all first-time buyers put down deposits of ten per cent or less for their mortgages.

But now the deposit it twice that and unless they can borrow the money from family they are unlikely to ever own their own home.

Mr Miles said a in 2007 28-year-old,

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November 29, 2011   No Comments

Buying A New Home, Long island Mortgage Broker AMB Mortgage

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Long Island Mortgage Broker

When you’re considering buying a new home, there is a lot to take into account. Unless you’re staying in the same city, a big move can change your life. When making the decision and taking new locations into account there are a ton of deciding factors. Everyone has their own checklist when it comes to moving, but here are a few universal factors that should help you along your decision.
buying a home

Grade the Schools

This is the big one. If kids are a deciding factor, odds are they’ll trump most other. Whether children are in the present or the future, you’ll need to check out the schools. Go online and research the school rankings, graduation rate, which colleges those students tend to go to, parent forums, etc. You may also want to visit the school, talk to a teacher or a principal, tour the building, sit in on a PTA meeting,  talk to parents while they’re picking up their children. Visit the local parks or playgrounds. Are they well kept? Are there any

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November 22, 2011   No Comments

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