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Amp Up Resale with Small Maintenance & Repairs

In For FSBO, For Sellers by jesslynmoir

Whether you’re putting your home on the market this year or in the next five years, it is a smart decision to start building your home’s resale value now. Here are just one way to create a comfortable home while making it easier to put more money into your bank account on closing day. Small Maintenance and Repairs If you think that home maintenance on the weekends waste your time and energy, think again. The small chores you do around your home prevents it from losing value. Neglecting small maintenance and repairs causes 10% of your home’s value to walk out …

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One More Time… You Do Not Need 20% Down To Buy NOW

In For Buyers, For Renters by jesslynmoir

A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.  Are you looking to purchase one of the homes for sale in Fredericksburg, VA? Here’s How: 1. Down Payment The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of …

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You Can Save for a Down Payment Faster Than You Think

In For Buyers, For Renters by jesslynmoir

In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Did You Know, There are a Large Number of Homes for Sale in the 22405 Area? Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to …

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Warren Buffett: There is No Housing Bubble

In For Sellers, Market Updates by jesslynmoir

With home prices expected to appreciate by over 5% this year, some are beginning to worry about a new housing bubble forming. Warren Buffet addressed this issue last week in an article by Fortune Magazine. He simply explained: “I don’t see a nationwide bubble in real estate right now at all.” Later, when questioned whether real estate and/or mortgaging could present the same challenges for the economy as they did in 2008, Buffet said: “I don’t think we will have a repeat of that.” What factors are driving home prices up in the Fredericksburg VA real estate market? It is …

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Over Half of Americans Planning on Buying in the Next 5 Years

In For Buyers, For Renters by jesslynmoir

According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations. Those Looking to Buy 74% of those looking to buy a new home will consult with a real estate agent 59% said they will visit online real estate websites 37% will seek recommendations from friends and family 78% plan to get …

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Americans Rank Real Estate #1 Long Term Investment

In For Buyers, Market Updates by jesslynmoir

The Gallup organization recently released a survey in which Americans were asked to rank what they considered to be the “best long term investment.” Real estate ranked number one, with 35% of those surveyed saying it was a better long term investment than stocks & mutual funds, gold, savings accounts or bonds. Here is the breakdown: The survey revealed that real estate was the number one choice among each of the following groups: Men Women People between the ages of 18-29 People between the ages of 30-49 People between the ages of 50-64 People 65 and older People with annual …

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Buying a Home is 36% Less Expensive Than Renting Nationwide!

In For Buyers, For Renters by jesslynmoir

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! If you’re looking for a rental in Fredericksburg, VA, note these other interesting findings in the report: Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation. …