Real Estate and Events in Katy TX and Surrounding Communities

Posts tagged ‘home ownership’

Real Estate Market Conditions – Video Update – 01/16/2012

See the 10 tips for sellers in the Mortgage Advice section.  

Real Estate Market Conditions Video Update 01/16/2012

NATIONAL NEWS
     Real Estate Outlook:  More Markets Show Measurable Improvement
     City Report:  Forbearance
     Green Living:  Tips for the New Year

     Real Estate Outlook:  Mortgage Applications Down
     City Report:  Remodeling Pays
MORTGAGE ADVICE
    Mortgage Moment
    10 Tips for Sellers
Q&A
     Home Inspections
     Buyers: Making the Right Choice
     Ready to Buy?
     How to Sidestep the Spread of Mortgage Fraud
     The Joys of Home Ownership
GET YOUR HOME SOLD!
     Why Show / Why Buy Webcast

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4 Steps to Minimize the Risk of Owning a Home

Tara-Nicholle Nelson, a Broker in San Francisco, is one of my favorite real estate/mortgage bloggers. Here is what her article in Trulia.com has to say about minimizing the risk in home ownership.

“Not so long ago, in a not-so-distant land, owning a home was thought of as the safest ‘investment’ around. Fast forward to the present day, and home ownership seems super scary to many people who can afford homes, and would like to own them, but are paralyzed by the fear of buying a lemon, or having a mortgage catastrophe.

Here are 4 simple steps to minimize the risk that you’ll become the main character in a homeownership horror story.

1. Stick with a fixed-rate mortgage. Recent data shows that adjustable rate mortgages, or ARMs, are increasingly popular, rising from 9 percent of the mortgage market in the fourth quarter of 2010 to 12 percent in the first quarter of this year. This might seem crazy to some, but in financially aggressive crowds, the lure of low, 3 percent#ish# interest rates on ARMs is enough to overcome any qualms. As well, today’s ARMs tend to have lower lifetime interest rate caps and require payment of principal, so they don’t adjust as violently as the subprime interest-only and option ARMs that contributed to the foreclosure crisis.”

Continue: 4 Steps to Minimize the Risk of Owning a Home: 

via Katy Real Estate and Events Blog.

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