Real Estate Tips

Quick tidbits of advice and ideas about real estate.

Found 74 blog entries about Real Estate Tips.

For real estate investors, waiting for the market to stabilize is usually the way to go. But considering the current pandemic, stabilizing could take some time. And with so much real estate opportunity on the horizon (and currently), waiting may not be something you want to do. 

If this sounds like you, here are four principles to help guide you through real estate investing during a crisis.


1. Be Patient

It's an unfortunate expectation, but with the recent spike in unemployment, it won't be lone before we see homeowners foreclose. As an investor, you need to be patient and be more selective. 

Wait for a property with a large profit margin and can withstand a possible hit in resale value (more on that below). There are still many

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Springtime is the most popular time for homeowners to list their homes for sale. However, given the health crisis (and financial crisis for many), you may be wondering if it's still a good idea to sell your home this spring. What are the pros and cons of selling your home during the pandemic?

Here are two sides to that coin.


Pros of Selling Your Home This Spring

Mortgage rates are currently competitive, and many experts believe they'll hover on the low end of the spectrum. With rates so low, and the uncertainty of when they will rise again, homebuyers will be looking to capitalize on this opportunity. This puts your listing in a great position, and finding a buyer despite the challenges should still be easy. Looking at it from a

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Your credit plays a key role in financial opportunities, today and in the future. Understandably, the current pandemic environment is making it more challenging. But still, there are actions you can take to protect your credit. 

Here are tips that the Consumer Financial Protection Bureau suggested for protecting your credit during these trying times.


Request A Free Copy of Your Credit

Did you know that you're entitled to a free credit report every year? Unlike the hard credit inquiries that creditors do when you apply for credit, this free annual report does not negatively affect your score. 

Additionally, Equifax, TransUnion, and Experian (the three nationwide credit reporting agencies), also provide you with a free credit report

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When it comes to home buying it feels like there are already limitless decisions to comb through of wants, needs, hopes, and budgets. While it can feel like there isn’t an easy way to start narrowing down what you are going to prioritize looking at or searching for, there is one important distinction that, if an obvious choice comes to you, you could easily mitigate a lot of time-wasting in the process. That decision is whether or not you are interested in a new construction home, or a resale home. Below we’ve laid out some of the biggest benefits about each type of home-buying. We hope this helps make your decision even a tiny bit easier! 

Perks of New Construction Homes

The “Green” Aspect

Whether it’s more on a cost basis or an

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Whether you are buying a home or are refinancing, there are fees required to finalize the loan. We lump all these together and call them closing costs. With refinance loans, the closing costs are a bit less because certain elements are missing (such as title fees, home appraisal fees, and other sale-related fees).

This article will focus on the closing costs that you can expect to pay when you buy a property.

How much can you expect to pay in closing costs? 

Closing costs are about 2% to 5% of your loan amount. So if your loan is for $250k, you can expect to pay about $5,000 and $12,500 in closing costs. Admittedly, this is a fairly large range but we’ll break down the costs so you can have a better understanding of why it varies so much. 

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The home you own now will likely always remain special to you. After all, you selected it from dozens of others on the market. You’ll always remember the jitters of shopping for such a big-ticket item, the triumph of moving in after signing, and perhaps the first time you had the extended family over to your own home for the holidays. 

Whether this is your starter home or the home in which you raised your family, it’s natural that you’ve gone back and forth trying to decide whether you really need to sell and move on. For most homeowners, though, the day does ultimately arrive when it’s time to upgrade from a starter home to a home that’s better suited for their long-term lifestyle goals. 

If you’re considering whether this is your year to make

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When you first took out your school loan, you did it to open more opportunities. Unfortunately, having a significant amount of school debt can challenge those opportunities. If you have a considerable amount of school debt and are left wondering how you can still qualify for a home loan, this article is for you!

The insights we’re about to share with you will help you get a better idea of how to manage your school loan as well as show how it’s possible to be a homeowner despite having student debt. 

How Student Loans Affect Your Home Loan Approval

The first thing to clarify is that student loans themselves don’t prevent you from getting a home loan. However, the debt of student loans can affect your debt-to-income ratio, and a poor DTI can

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If you have bad credit, it may seem like buying a house is out of reach - or at least a couple of years away. But, in reality, struggling credit may not be as much of a roadblock as you may think! 

If you have less than ideal credit and have the goal of buying a home, then this blog is for you! Read on to find out more about loan programs for low-credit home buyers as well as how you can improve your score to qualify for a lower interest rate.

The Truth About Bad Credit and Mortgages

Technically, there isn’t a specific minimum credit score to qualify for a conventional loan. Lenders will set their own requirements since they are the ones that are loaning the funds. As you can imagine, they prefer higher scores as that means less risk.

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Tax season isn’t always met with positivity. But when you’re a homeowner, you tend to view tax season differently because of the tax benefits. With tax season soon upon us, we wanted to share some of the lesser-known tax benefits of owning a home. 

Did you miss out on the tax breaks for 2019? Not to worry! You can still benefit in the coming year! Come to think of it, the sooner you purchase a home, the longer you can rake in those benefits! 

Interest Paid on Your mortgage is Deductible (in most cases)

Generally speaking, if your mortgage is not greater than $750,000, then you can deduct the interest paid on the loan. This is the most significant benefit of owning a home and claiming it is relatively simple. At the end of the year, your

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Millennials, you’re buying your first homes! Congratulations: it’s exciting to see so many of you settling in. If you’re a millennial who is trying to decide when you’re ready to buy your first house, Parks has you covered with our First Home Purchaser’s Readiness Checklist

Financial Readiness

Financial readiness is, without a doubt, the most important factor in successfully purchasing your first home without experiencing the pangs of buyer’s remorse that are felt by a reported 81% of millennial homeowners. 

Take the following steps to prepare yourself financially for homeownership.

  • Reduce or eliminate all other debt.

High-interest consumer debt, student loans, and sizable car payments will all affect your ability to

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