When it comes to figuring our whether you have enough money to buy a home, the down payment is normally the biggest stumbling block. Some buyers mistakenly think they have to have 20% down and this is true, if you want to avoid the Private Mortgage Insurance or PMI fee on your monthly payment, since most conventional loan lenders require it. You can still purchase a home for less than 20% down and many homes are purchased with as little as 3% to 5% down under FHA and VA loan programs. Even conventional loans can be found for as little as 5% down, based on your credit, but this isn’t as commonplace as in the past, since lenders are getting tougher on equity requirements. Part of the reason for the first time home-buyer tax credit is to help with these requirements because it is available for 10% of the down payment, up to $8,000, if you write a contract before April, 2010 and close by June, 2010, which makes now the best time to purchase. The larger your down payment, the better

Investing in the real estate market is an incredibly popular and at the moment potentially risky endeavor in the United States. It is often a very positive and profitable investment however and many people who are in the right market areas are quite frequently able to make a good deal of money. It is important to absolutely account for all expenses and make sure that you can manage the entire project from purchase to resale in a timeframe that will also maximize your profits. To that end, recognizing from the beginning of the process exactly what work must be done, how much time it should realistically take, as well as what they will cost will allow you to make a much better starting budget. Beginning with a realistic budget will allow you to determine a more realistic profit projection, which will obviously help you decide if this is the right investment for you to make. First, it is easy and sometimes a lot of fun to look through many on line services on the Internet that list pr

Do you know your home's worth? Well, you should. This important bit of information is essential, especially if you are planning to sell your home anytime in the near future. You will be the first one to put a tag price on your home. That would be quite difficult if you have no idea whatsoever on your property's value. Why Know Your Home's Value? A good selling price has so much to do with how soon you will be able to get your home off the real estate market . When we say 'good', we mean just right. An appropriate tag price that will give homebuyers an impression that you are not asking too much or too little is required. Certainly, you will not be able to do that if you yourself do not know the right value of your home. Understanding your Home's Worth There are so many wrong impressions regarding a home's value. First, your home's value is what it is worth when you acquired it. That's unless you just bought the property two weeks ago and you are s

Not every troubled mortgage makes for a good Short Sale opportunity. There are things Investors must look for with regards to the homeowner, the house and the Lender to determine if a Short Sale is appropriate. Here are a few key factors. The Home Owner: Is the homeowner cooperative? It is much easier to get a homeowner who is eager to sell and willing to do anything to get out of a bad situation to actually fill out the Short Sale paperwork. Watch out for homeowners who are full of pent up rage or are depressed. They might damage the property on their way out the door. They must have a legitimate hardship. Most people don't stop paying the mortgage unless there is a genuine emergency. Job loss, divorce, health issues, market changes, and diminished retirement income are common hardships that Lenders accept. The homeowner must have exhausted every other option before deciding on a Short Sale in order for the Lender to seriously consider their case. The House: There is a balan

The Sarasota real estate market remained hot in November 2009 with overall sales nearly 86 percent higher than November 2008. Total sales stood at 578 in November, mirroring last month’s total of 574 and much higher than the 311 sales reported in November 2008. The breakdown was 417 single family homes and 161 condos sold last month. The fall has proven to be a busy one for many local Realtors®, and the trend doesn’t seem to be slowing down. Pending sales stood at 793 in November, just below last month’s total of 839, and far higher than last November, when only 504 pendings were reported. The statistic is a strong indicator for the next two or three months of sales, as pending sales are an indicator of current buyer activity. Some experts had predicted pending sales might slow because of the uncertainty over the extension of the first-time homebuyer’s tax credit. But that fear has proven unfounded in the Sarasota market. The tax credit was extended and expanded to include many othe

There's an old adage that says, "If you keep doing the same thing, you'll keep getting the same results.If you would like to make some small changes that can produce big results in your life, try any (or all) of the six strategies below. 1. Since the people around us are a "mirror" of who we are, surround yourself with people who are happy, well adjusted, and whose lives you admire. Make your decision not upon their physical possessions, but on what they have "on the inside" that is of value. Surrounding yourself with miserable, unhappy, complaining people only makes your life miserable as well. 2. Create more space in your life by eliminating at least one small thing each day that drains your energy. For example, sew on that missing button, throw out the old magazines you've been meaning to read, clean your closet, etc. Remember, before something better can come into your life, you have to create the space for it. Or putting it a little differently

Evaluating the value of a piece of property is necessary for several reasons. It’s always nice to know where you stand with a piece of property. If you are considering purchasing a piece of property, you want to know that it is worth what you’re paying for it. If you own a piece of property, you might want to know how much you should sell it for. There are many reasons that could warrant you evaluating the value of a piece of property. When you need to value a property, there are three main methods for doing so: the cost approach, comparable approach, and income approach. All three methods can get you to the same value in some cases. Some properties are evaluated better with one method over the other. Here is a look at the three different methods and how they work. The cost approach is the most detailed of the three. With this method, you actually start from scratch and figure out how much it would cost to build the property again. You will go through the property and come up with a c

With so many different and various types of mortgages exist, knowing how to choose the right one can be oftentimes challenging. To be able to understand the various options, we have provided a brief breakdown. Keep in mind that the country has been in a mess regarding mortgage lenders giving out money to people that could not afford to buy so be sure you are in a financial position to succeed as a homeowner. The first type of mortgage is a Fixed Rate Mortgage , which also referred to as an FRM, designed so the interest rate would never change throughout the life of the loan. The benefit is that every month, the amount of the mortgage payment would be consistent, making it much easier to create a monthly budget. Next is the Adjustable Rate Mortgage , or ARM, which differs from an FRM in that the approved interest rate would fluctuate depending on movement of the current market. Typically, mortgage lenders prefer to offer ARMs in that some of the risk would be eliminated. For instance

It’s about to get more expensive to take out—and a bit harder to qualify for—a loan insured by the Federal Housing Administration . Faced with rising losses and falling reserves, the FHA is preparing a series of tweaks to its underwriting guidelines and increase in fees in order to stave off a taxpayer bailout of the traditionally self-funded agency, Shaun Donovan, the secretary of Housing and Urban Development, told Congress in testimony Wednesday afternoon. Among the changes under consideration: Raising the annual insurance premiums that borrowers must pay. This is the easiest place to start, but it would raise borrowing costs for home buyers. The FHA charges an upfront insurance premium of 1.75% of the total cost of the mortgage which most borrowers can roll into their loan, and then they pay additional annual premiums of either 0.5% or 0.55%, depending on their down payment. Setting a credit score floor for borrowers. The agency hasn’t decided what that minimum might be, b

Most likely, buying a piece of real estate is going to be one of your biggest investment in your life. You will certainly want to have a team of professionals working with you throughout the buying process. After all, you wouldn’t want to cut your own hair or hire the cheapest doctor when you really need the best… Let’s see who needs to be on the bus. The Real Estate Agent Your Realtor will play the most important role in helping you to find the right home. His job is to be the quarterback in the game. Some of the main parts of his responsibilities are: •Discover what’s important to you. I.e.: price, location, size, upgrades, etc. •Help you to find the right home. •Draft up an offer that is favorable to you. •Negotiate on your behalf to get the best price and terms for you. •Provided you with important information about the community that may be imperative to your decision making. •Supervise the home inspection and to save you time where ever he can. Be sure to ask plenty of questions

What Your Remodeling Contract Should Say Review your remodeling contract carefully and adjust it to make sure it protects you in terms of payments, work schedules, and project specifications. Read 5 Essential Questions to Ask Before Hiring a Contractor You’re ready to remodel but you want to make sure you get the best contractor for the job. Here’s what to ask the candidates before you decide. Read When It Pays to Do It Yourself Doing home-improvement jobs yourself can be a smart way to save money, but choose the right DIY projects or you’ll end up paying dearly. Read Budgeting for a Remodel To calculate how much remodel you can afford, follow these four steps: Ballpark the cost, establish a spending limit, make a wish list, and set your priorities. Read Should You Move or Improve? Whether to move or improve is a harder question to answer than it was a few years ago, but a few cost-benefit calculations can help you make the right deci

If you’re in the market for a home, the world is your oyster. Interest rates are at record lows. Housing prices in many parts of the country are still depressed. And you may be eligible for a generous tax break, even if the home you buy isn’t your first. On Nov. 6, President Obama signed legislation that provides a $6,500 tax credit for some current homeowners who buy another home. The law also extends the $8,000 tax credit for first-time homebuyers, scheduled to expire Nov. 30, until next spring. A lot of people are interested in taking advantage of this tax break, but the expanded credit also has whipped up a lot of confusion. Here are some answers to frequently asked questions: Q: How do I qualify for the $6,500 credit? A: This credit is available for homebuyers who sign a binding contract on a new or existing home by April 30, 2010, and settle by July 1 (deadlines that also apply to the first-time homebuyer credit). You must have lived in your existing home for five consecutive yea

Welcome to Borgo Syrah Nowhere else in Italy could you discover one location possessing all the allure, splendor and distinction of the high-end custom residences found at Borgo Syrah. This exclusive estate is situated on property of historical significance – land of medieval Italian notability – in Tuscany , a region celebrated for its striking beauty and remarkable art and architecture. Each well-appointed residence bridges traditional Tuscan styling with contemporary elements to produce a setting that is dually magnificent and timeless. Boasting picturesque views of cascading hills, fertile vineyards, lush olive groves, and pristine Italian gardens, this vacation retreat is one supremely alluring destination. Most significant is the fact that the acquisition of a Tuscan villa or private apartment secures all property owners shared ownership of one of the most renowned vineyards in all of Italy – Tenimenti d’Alessandro, a winery producing the renowned Il Bosco and Magliara Syr

Strong property sales in the Sarasota market in October 2009 continued to provide ample evidence of a market in recovery, with overall sales nearly 36 percent higher than October 2008. Total sales stood at 574 in October, compared to 364 total sales in October 2008. The breakdown was 419 single family homes and 155 condos sold last month. The upward trend during the traditionally slower season could be a prelude to a busy fall and winter for local Realtors®. The overall economic recovery from a two-year recession appears to be the primary reason behind the sales spurt, along with the national $8,000 tax credit for first-time homebuyers. That tax credit was extended, and expanded to include many other homebuyers on Nov. 6, so the home buying sales rush could easily continue through the season and into the first quarter of 2010. The median sale price for condominiums also surged during October to $220,000, up 35 percent from last month, but down 36 percent from a year ago. The median

House hunting usually slows down this time of year, as people put their searches on hold during the holidays. This winter could be different, however, thanks to the extension -- and expansion -- of the first-time home-buyer tax credit. "We're going to see far more interest in the fourth quarter than we generally do because of the tax credit," says Heather Fernandez, vice president of Trulia.com, a real-estate search engine. Traffic surged on the site on Nov. 5, the day Congress approved the credit extension, she says. The new law extends the tax credit for first-time home buyers and opens it up to some existing homeowners as well: The credit is now up to $8,000 for first-time buyers and up to $6,500 for repeat buyers. All buyers must have a binding contract on a house in place on or before April 30. The purchase must be for a principal residence and must close on or before June 30. To be considered a first-time home buyer, an individual must not have owned a home in t

To the great relief of many people, both inside and outside the real estate industry, it seems like the worst part of the sagging real estate market could be behind us. It’s dangerous business attempting to foretell market movements (see below) but at least in some areas of the country it does look as if buyers are beginning to come out of their lengthy hibernation. If you are thinking about buying property, here are the top ten problems that you should steer clear of before taking the plunge. 1. Failing to Obtain Home Loan Pre-approval Documentation Getting pre-approval for a home loan is an important first step for potential buyers. Getting a mortgage pre-approval will give you a much better idea of the total loan amount you can readily borrow. Being pre-approved also indicates that you are serious about buying. Most sellers with worthwhile homes won’t even bother considering a purchase offer unless it is accompanied by confirmation of loan pre-approval. Additionally, should any pr

This stylish house is located on a private street a few meters away from Passeig de Gracia, in the heart of Barcelona . 325 built sq.m.on 3 levels and the possibility to enlarge with 100 more sq.m. It has a garden on the front, a big terrace on the top and a big patio on the back. 4 bedrooms + 1 suite and 3 bathrooms. Price: 3.000.000 euro View Larger Map Image by adam79 via Flickr For this or any other properties , please check Premium Properties Sarasota for further information

Holiday Harbor Overview Maps Photos Features Description $225,000 Single Family Home For Sale Main Features 3 Bedrooms 2 Bathrooms Interior: 1714 sqft Lot: 27,225 sqft Location 1750 QUESTAR LN Sarasota, FL 34231 Chaim Gleitmann Xena Vallone Realty (941) 312-1214 chaimgleitmann@aol.com http://www.premiumpropertiessarasota.com/ Listed by: Xena Vallone Our recent listings Holiday Harbor Short Sale Short Sale Woodlands Park Charming two bedroom, one bath turnkey furnished condo Subscribe to our listing feed See more Sarasota, FL real estate for sale

Charming two bedroom, one bath turnkey furnished condo Overview Maps Photos Description $114,000 Condominium For Sale Main Features 2 Bedrooms 1 Bathroom Interior: 723 sqft Location 111 Airport Ave W Venice, FL 34285 Chaim Gleitmann Xena Vallone Realty (941) 312-1214 chaimgleitmann@aol.com http://www.premiumpropertiessarasota.com/ Listed by: Xena Valllone Realty Our recent listings Holiday Harbor Short Sale Short Sale Woodlands Park Charming two bedroom, one bath turnkey furnished condo Subscribe to our listing feed See more Venice, FL real estate for sale