Buying a Home in 2015: 3 Resolutions to Make It Happen

January 12, 2015 by

Buying a Home in 2015: 3 Resolutions to Make It Happen

Is 2015 the year you get serious about buying a home? These three resolutions can help you pull it off. Many home buyers enter and leave the real estate market several times before making a purchase. Priorities shift and — unlike a seller who signs an agreement and has a tangible product to sell — buyers aren’t necessarily tied to any timeframe, unless it’s self-imposed.

Enlist an ally

Balance feelings and data

Abandon the notion of getting a deal

We will go more in depth in each area. To see the full story; 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, Downtown, Family, Florida, Home Buying, Homes for Sale, Land O Lakes, Lutz, Macdiill, Moving, New Construction, New Tampa, Nick & Cindy Davis, RE/MAX, realtors, Tampa, Uncategorized, Veterans, Wesley Chapel Tagged With: , , , , , , , , , , , ,

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: , , , , , , , , , , , , , , , , , , , , , , , , ,

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: , , , , , , ,

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: , , , , , , , , , , , , , , , , , , , , ,

Churches do they help or hurt home values?

September 1, 2014 by

Churches; One study says that houses within a certain distance of place of worship sell for 4.8 percent more than others.

 

 

Call it the halo effect for real estate.

A study of the housing market in Hamburg, Germany, found that condos located between 100 to 200 meters, or 109 to 219 yards, away from a place of worship listed for an average 4.8 percent more than other homes. The effect was similar across all religious buildings studied, including churches, mosques and temples.

“It’s something we find for other amenities, as well,” said Wolfgang Maennig, a professor at the University of Hamburg Department of Economics and Social Sciences and co-author of the report. He likens the price bump to perks such as proximity to public.

But live too close to the religious building — within 100 meters — and the premium is erased, they found. Sounds associated with houses of worship are only part of the problem. The effect of bell ringing, for example, wasn’t statistically significant, he said.

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, Channelside, Dade City, Downsizing, Downtown, Economy, Family, Fit to Sell, Florida, Home Buying, Home Ownership, Home Selling, 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, Wesley Chapel Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

Housing recovery appears to be back on track

August 25, 2014 by
Housing recovery appears to be back on track

Housing recovery appears to be back on track

Housing recovery appears to be back on track

A fourth straight monthly increase in sales of existing homes provided the latest evidence Thursday that the U.S. housing market is rebounding from a weak start to the year.

Housing has been a drag on an otherwise strengthening economy, in part because a harsh winter delayed many sales. But Americans are stepping up purchases as more homes have been put up for sale. And low mortgage rates and moderating price gains have made homes more affordable.

“The momentum is in the right direction,” said Andrew Labelle, an economist at TD Bank who noted that the past four months have marked the fastest four-month sales gain since 2011. “Sustained jobs gains, as well as the fall in mortgage rates since the beginning of the year, appear to have unleashed at least some pent-up demand.”

Sales of existing homes rose 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million, the National Association of Realtors said Thursday. That was the highest annual rate since September of last year.

The increase follows other encouraging signs that the housing market is improving. The pace of home construction starts surged 15.7 percent in July to a seasonally adjusted annual rate of 1.1 million homes, the government said this week. Applications for building permits, a gauge of future activity, also strengthened last month.

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

 

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

Loans for Military Members and Veterans to purchase homes

August 18, 2014 by
Loans for Military Members and Veterans to purchase homes

Loans for Military Members and Veterans to purchase homes

Active military and veterans can get jumbo home loans guaranteed by the VA. Interest rates are competitive, down payment requirements are much lower, and private mortgage insurance is waived.

In his 30-year career with the Air Force, Chief Master Sgt. Jim Roy and his wife, Paula, lived in 12 different homes. When Mr. Roy retired last year, the couple settled down in a home of their own—with a little help from the VA.

Charmed by the friendly people and mild winters, the Roys decided on the Charleston, S.C., area. They found a four-bedroom, 3½-bath house for themselves and their 14-year-old twin boys, Caleb and Colby. “My wife and I saved for 31 years, and this is the house we wanted to be in,” Mr. Roy, 50 years old, says.

The house, built in 2008, had a purchase price of $575,000, which normally would require a jumbo mortgage and a 20% down payment because it exceeded the area’s $417,000 limit for conventional loans. (That limit can reach $625,500 in some high-price areas.) However, as a veteran, Mr. Roy qualified for a mortgage guaranteed by the Department of Veterans Affairs.

VA home loans are available through banks and other private lenders. As with other mortgages, interest rates of VA-guaranteed loans can be either fixed or adjustable, depending on the lender. Down payments are low, if required at all. Private mortgage insurance requirements are waived as well. The loans can be used only on primary residences and not on secondary or vacation homes.

To see the complete story Loans for Military Members and Veterans to purchase homes please visit www.TampaHomesSold.com/Nick-Cindy-Davis-Blog.aspx if you have any questions you can always email Nick & Cindy Davis at NickandCindyDavis@TampaHomesSold.com or call us at 813-300-7116.

 

 

Filed Under: Advice, Apollo Beach, Ask a Realtor, Brandon, Buying a Home, Channelside, Dade City, Downtown, Economy, Family, 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: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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