Many homeowners we speak with are still concerned that we may be approaching a repeat of the 2008 housing crash when property values collapsed and foreclosures spiked. The concern is understandable. The memory of that market haunts many. In fact, a recent survey by Lending Tree reported that 41% of Americans say they fear a […]
The Pros and Cons of Adjustable Rate Mortgages With mortgage rates remaining higher, many buyers are considering adjustable-rate mortgages (ARM) for their future home purchase. While fixed-rate mortgages provide homeowners with the same interest rate for the duration of their loan, interest rates for adjustable-rate mortgages can change over time. These loans are more complex […]
The National Association of Realtors just released updated information on buying trends over the past twelve months. Here are the five biggest changes. 1. Fewer First-Time Home Buyers Historically, first-time buyers make up 40% of the home-buying market. However, over the past twelve months, that number has dropped to only 26%. The primary reason for the […]
I often have questions from buyers, primarily first-time buyers, about the loanapproval process. There are three primary aspects to the loan approval process. Debt-to-income ratios. Down payment. Credit score. First, let’s discuss the debt-to-income question. Debt-to-Income RatioOne of the first steps of the mortgage approval process is the percentage of yourincome going toward your total […]
Renovating your home opens up all manner of possibilities, but it does take time and effort.Here’s everything homeowners should know about starting a renovation project, courtesy of TheAlfriend Group. Choose Upgrades CarefullyMost homeowners have big dreams for their properties, but it’s unlikely you’ll be able to makeevery improvement on your list. Consider the options and […]
Last week as I was coming back from the Irish Festival, a friend of mine reached out to me out of the blue about a conversation we had a little while back. He said he was looking to start building a rental portfolio and asked “What are 3 things you wish you knew before getting […]
Home flipping is a booming business. And while it takes a lot of money to get started as a house flipper, there are ways that seniors can get involved in this lucrative trade. It also doesn’t require the commitment of buying and renovating properties full-time as many other businesses do. Instead, you can dip your […]
Homeowners at or over 62 years of age may qualify for a reverse mortgage. It allows you to use the equity in your home to cover expenses by putting cash in your pocket. You can also use a reverse mortgage to secure a new line of credit. Reversal mortgages do not come with monthly payments […]
Housing Market Update Despite increased sales prices and low inventory, a new home sales record was set for the month of November! In Central Ohio, 33,548 homes sold from January 2021 – November 2021, which is a 9.3% increase from last year, and already beats total homes sold for the entire year of 2020. Just […]
A vacation rental is a great way to make money and expand your property portfolio, especially in popular vacation destinations. However, it’s not as easy as buying a nice home and sticking it on a few listing websites. The Alfriend Group can help you navigate this challenge so you can enjoy a profitable venture, starting […]
