Summit Realtors – Homeowner’s Blog
Coordinating the Sale and Purchase of Your Home
Usually, it is easier to buy a home than to sell a home but that isn't necessarily the case currently. In today's market, it can be scary to sell your home before buying another because you could find yourself without a home. Most sellers will not accept a contingency...
A New Opportunity for Homebuyers
You may not have heard of anyone assuming an existing mortgage for over thirty years and didn't know they were even possible any longer. The reason is simple, it didn't make financial sense but now that interest rates are increasing, it may be an opportunity for some...
Cost of Waiting to Buy in Both Price and Interest Rates
Have you ever been shopping on a website where you were looking at something that was on sale? You were interested in it but there wasn't a sense of urgency and maybe, you had a lot going on and didn't get back to it for a few days. When you did go back to the...
Why a Home Should Be Your First Investment
Real estate has been described as the basis of all wealth. Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth. A home is an asset measured by the size of the equity. Equity...
Paying Points to Lower the Rate
Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. Another way to lower your payment would be to buy down the...
I wish I knew then…
We have all heard this expression that implies that had a person known earlier in life what they know now, they would have done things differently. The subject possibilities are endless While no one has a crystal ball to see into the future, it may be possible to...
Your Home is a Hedge Against Inflation
The concern about inflation is the sustained upward movement in the overall price of goods and services while the purchasing value of money decreases. Tangible assets like your home consistently become more valuable over time. In inflationary periods, your home is a...
Why is the APR higher than the interest rate?
Annual percentage rate is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. Annual percentage rate, APR, calculates the interest rate and loan fees over the...
There’s more to it than you might think
There is more to selling a home than you might think. Superficially, a person might think that it will sell itself currently because, nationally, homes for sale receive 3.6 offers and they sell within 18 days. Any business student can probably list the four Ps of...
Will Soft Inquiries Hurt Your Credit Score?
Soft inquiries, sometimes known as a soft credit check or a soft credit pull, do not impact your credit scores because they are not attached to a specific application for credit. They can occur when a credit card issuer or mortgage lender checks a person's credit for...
Carla Nettles