There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and prepaying principal? Let's examine the pros and cons of both strategies. Read the complete article
Home Building Tips
ALS Construction, Inc. occupies a 3700-square foot office showroom just off South Carolina Route 170 at Okatie. His sons,Brent and Brandon, both graduates of Clemson University with construction science and management degrees, joined the company several years ago after a number of years employed in the commercial construction industry. Aubrey is well-known in the community for quality residential construction at a fair price.He recently took time out of his busy schedule to provide Homes & Land of Hilton Head readers with some tips on home building. Read the complete article.
The good news is that if you are a potential buyer, NOW IS A GREAT TIME TO BUY! Prices have adjusted downward because of an excess of inventory in the market, and mortgage rates are very near 40-year lows.
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If you are wondering whether or not real estate is a good investment, some of the area s first REALTORS recently took time out for a recent symposium to answer just that question:
Yes, real estate in the Lowcountry is a great investment! Read the complete article
Condo Buyers - Take Note
Many of us can still remember the introduction of the "condo," a home model once considered to be a cheaper alternative to a single-family detached home. Those days are over. The "condo" has come into its own and now includes everything from multi-million dollar penthouses to beachfront villas in resort communities. Perhaps most surprising, according to the National Association of Realtors (NAR), the median existing home price for a condo in December 2005 was $218,100, outpacing the median existing home price for single-family detached home of $207,300. What's more, condo sales jumped 9.3 percent in 2005 posting growth numbers for the 10th consecutive year. Read the complete article.
Second Home Buyers Taking Advantage of Market Conditions
Can you guess what the average rate for a 30-year fixed mortgage was in October 1981? It was 18.45 percent and according to Freddiemac.com, the borrower would have to pay 2.3 points just to get it! Double-digit interest rates followed into the next decade. By January of 1991, the average interest rate for a 30-year fixed mortgage was just under 10percent at 9.64 percent and 2 points needed to assume that rate.
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Advice for Savvy House Shoppers
Searching for that perfect home is one of the most exciting times in a family's life. With the guidance of an experienced REALTOR, home buyers gain from the knowledge of an expert who, based on feedback, can target just the right home and location. With each home, the potential owners considers themselves living within its walls, visualizing their bedroom, living room and dining room furniture occupying each area. Most people see several homes before making up their mind and all the rooms, landscaping and neighborhoods can sometimes run together. Save yourself anxiety and confusion by taking lots of pictures of each house you're seriously considering (and maybe even a few you're not) using the right equipment and techniques. Read the complete article.
Location! Location! Location! Now is the Time to Buy!
If you have been sitting on the sidelines, just waiting for the perfect time to buy, that time is NOW! According to financial publishers HSH Associates, rates have inched down since April of this year, but that trend is not expected to remain. Bankrate.com quotes economists predictions that say long-term rates "will rise in 2007." So if you're waiting for home prices to drop, only to find mortgage rates rising, you may end up actually paying more. Read the complete article.
Tips for Creating an Outdoor Room
No matter what the weather or the season, you can enjoy cooking, entertaining or just relaxing on a deck or patio that is every bit as comfortable as the inside of your home. It's easy when you create an outdoor room. Read the complete article.
Real Estate is a Safe Investment
According to Wendy Patton, author of Making Hard Cash in a Soft Real Estate Market, purchasing real estate is a safe investment!Read the complete article.
What's My Home Worth
Have you been considering a move to another area in the Hilton Head area, but with so much talk about the rise and fall in home prices, you think now is not a good time to sell? While a skilled Realtor is the best option to help determine a price for your home, Homes & Land's new website may also provide perspective.
Government Mortgage Help
No matter how you look at it, this is a great time to be a home buyer. Prices have come down considerably over the past year, and mortgage loan rates are still close to historic lows. Now that the President has signed HR 3221 into law, there are some additional incentives to becoming a home buyer.
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