Tips for Getting a Mortgage on Your Second Home in the Tampa Bay Area

November 10, 2014 by

Tips for Getting a Mortgage on Your Second Home in the Tampa Bay Area 

Are you considering buying a Tampa Bay Area property as a second home or investment? Perhaps you are looking for a small cottage or apartment where you can escape for vacation, or maybe you want to have another home closer to family. Maybe you want to rent out your second property and make a steady income from your investment. Whatever the reason, a second piece of real estate can be a fantastic investment. However, sometimes getting a mortgage on your second home can be a challenge. That is why we wanted to share some tips for getting a mortgage on your second home in the Tampa Bay area to enable you to get a mortgage on your new second home.

                                                                                         Tips for Getting a Mortgage on Your Second Home in the Tampa Bay Area

Generally, a mortgage lender will have tougher standards for second home loans than primary home loans. This is because usually when you are buying a second home your finances will be stretched thinner and you will have less money to spare because you are already paying a mortgage on your primary home. This will mean that your second home mortgage can be harder to get and might have a higher interest rate.

Here are some tips to keep in mind that will help you to get the best mortgage on your second property:

  1. Build up savings
  2. Pay off Credit Card Debt
  3. Use First Mortgage as Reference

To see the complete article Tips for getting a Mortgage on your Second Home in the Tampa Bay Area please visit www.TampaHomesSold.com/Nick-Cindy-Davis/Blog.aspx

 

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Channelside, Dade City, Family, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , ,

Home Inspector Questions to ask before Buying

November 3, 2014 by

Home Inspector Questions to ask before Buying

When you buy a Tampa Bay Area home, you need to know exactly what you’re buying. Imagine how frustrated you’d be to find out that the hot water heater wasn’t working—in the middle of a shower! This is why you should have a home inspection before you buy your home. A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector.

  1. What does your inspection cover?
  2. Are you licensed or certified?
  3. What kind of report will you give me?
  4. Will I be able to attend the home inspection?

We will go more in depth into each of the questions. Please visit our website at www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Channelside, Dade City, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Refinancing your mortgage is it worth it?

October 27, 2014 by

Refinancing your mortgage is it worth it?

Refinancing your mortgage is it worth it

Refinancing your mortgage is it worth it

The interest rate pendulum has swung in favor of homeowners again.

A steady decline in recent weeks brought down the average rate for a 30-year fixed home loan below 4 percent to 3.92 percent this week, the lowest level in more than a year. As recently as January, the average was 4.53 percent, according to mortgage giant Freddie Mac.

That’s good news for homeowners who are locked in at a higher interest rate and weren’t able to refinance before rates began ticking up last year. The decline in mortgage rates has spurred a surge in mortgage refinancing. Applications reached their highest level since November 2013 last week, according to the Mortgage Bankers Association.

A reduction in your mortgage interest rate can translate into significant savings. The key is ensuring they aren’t outweighed by the charges and fees involved.

“You want to be careful to do the math and be sure you’re coming out ahead,” said Gary Kalman, executive vice president at the Center for Responsible Lending.

Here are some tips to help you determine whether refinancing your mortgage will pay off:

  1. UNDERSTAND THE FEES
  2. GET A LOW-ENOUGH RATE
  3. DO THE MATH
  4. DETERMINE WHEN YOU WILL BREAK EVEN
  5. SHOP AROUND

To see the complete story please visit our website at www.TampaHoemsSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Dade City, Economy, Family, Florida, Homes for Sale, Land O Lakes, Lutz, Macdiill, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Makeover Your Home for Fall-Six Easy Ways

October 20, 2014 by

Makeover Your Home for Fall-Six Easy Ways

Makeover Your Home for Fall-Six Easy Ways

Makeover Your Home for Fall-Six Easy Ways

 

A fall home makeover doesn’t require a total interior overhaul. Just a few decor updates can make a big impact when transitioning your home from the breezy days of summer to the crisp nights of fall. Replace your bright colors and linens with a blend of warm neutrals, lux fabrics, metals and soft lighting to create a warm retreat for the longer nights ahead. Below are a few low commitment tips to make each room of your house autumn ready.

  • Front porch
  • Entryway
  • Living Room
  • Kitchen
  • Bedroom
  • Backyard

To See the complete Article please visit our website at www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

 

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Curb Appeal, Dade City, Family, Fit to Sell, Home Ownership, Land O Lakes, Lutz, Macdiill, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Wesley Chapel Tagged With: , , , , , , ,

4 Steps to Get a Fair Deal When Buying a Flipped Home

October 19, 2014 by
4 Steps to Get a Fair Deal When Buying a Flipped Home

4 Steps to Get a Fair Deal When Buying a Flipped Home

 

4 Steps to Get a Fair Deal When Buying a Flipped Home

If you plan on buying a home in the near future, chances are you’ll come across a flip in your search.

2013 was a banner year for house flippers. They grossed an average of $90,200 per flipped home across major U.S. housing markets, according to Redfin research. This is not surprising since housing inventory was notoriously tight and demand led to unprecedented bidding wars in 2013.

In other words, flipping came easy.

As we enter the final months of 2014, however, there are more homes for sale and buyers have more leverage when it comes to getting a fair price. Here’s how to know if a home is a flip and to make sure you get your money’s worth if you are considering buying a flipped home.

To see the complete article please visit our website at www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

 

 

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Canada, Canadian, Channelside, Dade City, Flipping, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Wesley Chapel Tagged With: , , , , , , , , , , , , , ,

Home Buying Myths

October 6, 2014 by

Home Buying Myths

 

Home Buying Myths Debunked

Home Buying Myths Debunked

 

A generation ago, buyers didn’t have the luxury of the Internet to research and investigate real estate. Today, of course, many enter the real estate market with statistics and information gathered online.

It’s important that real estate agents be prepared to watch for and potentially debunk a buyer’s myths about the home buying process. If myths go unchecked, buyers may hold back from negotiations or even the home purchase because of things they think are true—but aren’t.

Here are the home buyers myths that buyers bring with them to the process. 

 

Working directly with the listing agent will get the buyer a better deal

Buyers should never offer full price

Spring and fall are the best time to buy

Always leave room for negotiations after inspections

A buyer must put down 20 percent to get a loan

A buyer with a loan can’t compete with a cash buyer

Buying real estate guarantees appreciation

Educating the buyer is part of my job

To see the complete article visit our website at www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Canada, Canadian, Channelside, Dade City, Florida, Forclosure, Forclosures, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, Moving, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , ,

How to Buy a Home in Another State

September 29, 2014 by

How to Buy a Home in Another State

How to Buy a Home in Another State

How to Buy a Home in Another State

 

Whether you’re relocating to another state for work or always dreamed of moving when you retired, you’re going to need somewhere to live. If you know you want to own a home rather than rent, you’ll need to buy one before you move.

But to buy a home in another state requires some effort, but you can simplify the process if you know all the right steps.

Know Your Timeline
Obtain a Loan
Do Your Research
Find a Good Buyer’s Agent
Tour Homes Virtually
Understand the Closing Process

Nick & Cindy Davis are looking forward to assist you whether you are here in Tampa Florida or you are in Alaska. Both of us being in the military know how much stress it can be moving to another state or even country. Let us help you make the transition a smooth one and if you are coming to Tampa Florida. We are ready to assist you and your family.  To see the complete story please visit www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Canada, Canadian, Channelside, Dade City, Downtown, Family, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, Moving, Moving with Pets, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , ,

Tips to Sell Your Home in The Fall of 2014

September 22, 2014 by

Tips to Make Your Home Stand Out in the Fall

 

Tips to Sell Your Home in The Fall

Tips to Sell Your Home in The Fall

 

Fall is a great time of year to sell your home. While springtime may be the most popular season to put a house up on the market, there is no reason to wait if you want to sell when autumn rolls around. People are ready to buy homes any time of year – especially if you know how to prepare the property to sell. There will likely be fewer homes on the market during this time of year, meaning a well-positioned home can sell fast if you draw in the right buyer. Most people have an aversion to moving when the weather is stormy and cold, so the fall is your last chance to accommodate buyers before the winter season rolls in. For many people the fall season is one of their favorite times of the year due to the crisp air and the colorful changes of the leaves on the trees. For these reasons, autumn is a time of year not to disregard when deciding whether to sell. Keep reading to see how you can sell your home in the fall with these great tips!

To see the complete story, please visit www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Dade City, Downtown, Economy, Fit to Sell, Florida, Home Ownership, Home Selling, Homes for Sale, Land O Lakes, Lutz, Macdiill, Moving, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , ,

Jumbo Mortgages -Banks Sweeten Terms to Woo Borrowers

September 18, 2014 by

Instead of selling Jumbo Mortgages on the secondary market, large lenders are keeping them on their books and reaping the profits. That may lead to better terms for borrowers

 

Jumbo Mortgages -Banks Sweeten Terms to Woo Borrowers

Jumbo Mortgages -Banks Sweeten Terms to Woo Borrowers

The secondary market for jumbo mortgages—in which banks bundle and sell their mortgages as consolidated debt to investors—is doing worse than a year ago. But that may be good for borrowers, at least for now.

Only 2.3% of all jumbo mortgages originated in the first half of 2014 have been securitized, according to Inside Mortgage Finance, an industry newsletter. That’s a drop in the bucket compared with the peak of 49.3% in 2005.

Now, instead of selling mortgages on the secondary market, large lenders are keeping them on their books and reaping the profits themselves. What’s more, lenders that don’t want to hold on to their mortgages are finding national and regional banks are eager to buy them, says Mathew Carson, a broker with First Capital Group in San Francisco.

In essence, one secondary market was replaced by another, says Guy Cecala, CEO and publisher of Inside Mortgage Finance. “The case could be made that borrowers are better off without a mortgage-backed securities program than they were before,” he says.

To See the Complete Story please visit www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Canada, Canadian, Dade City, Downtown, Economy, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, Moving, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Underwater Luxury Homes Rise Above the Tide

September 8, 2014 by

The 10 markets with the highest rate of underwater luxury homes have seen those rates fall

 

Underwater Luxury Homes Rise Above the Tide

Underwater Luxury Homes Rise Above the Tide

The tide is receding for luxury homeowners underwater on their mortgages.

In this year’s second quarter, 2.8% of mortgaged homes valued at $1 million or more were underwater, meaning the outstanding mortgage debt exceeds the current value of the property. That is down from 4.2% in the same period last year. Overall, 17% of homes at all price points are underwater, according to real-estate data site Zillow.Z -0.57%

Baltimore had the highest rate of underwater luxury homes at 5.8%, followed by Phoenix; Riverside, Calif.; Chicago; Atlanta; Orlando, Fla.; Tampa, Fla.; Detroit; St. Louis and Philadelphia.

Across these 10 markets, home values are down an average 24.6% from their respective peaks, said Stan Humphries, chief economist for Zillow. “What’s driving the large share of million-dollar homes with negative equity is how far home values have fallen,” he added.

To see the complete story. Please visit our website www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx

 

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Channelside, Dade City, Economy, Fit to Sell, Florida, Forclosures, Home Buying, Home Ownership, Home Selling, Land O Lakes, Lutz, Moving, New Construction, New Tampa, Nick & Cindy Davis, nick and cindy davis, RE/MAX, realtors, Tampa, Uncategorized, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , , ,
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