Safer Mortgages Rise From the Ashes of ’08 Financial Crash

Trending Home News Mortgages are safer now than they were 10 years ago. That’s the main effect the 2008-09 financial crisis has had on the mortgage market. The following loan types were popular during the housing boom in the early- to mid-2000s but are unavailable now to most borrowers: Low-doc mortgages allowed borrowers to get loans without documenting income and assets. Interest-only mortgages enabled borrowers to buy houses they otherwise couldn’t afford with an initially low monthly payment. But the loans were the financial equivalent of time bombs: The interest-only period … [Read more...]

There Really IS a Best Month to Sell Your Home!!!

This Just In: Data Says May is the Best Month to Sell Your Home  From "Keeping Current Matters" -  Wednesday May 2nd, 2018  For Sellers, Move-Up Buyers, Pricing   According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home. For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month: TTOM even went a step further and broke … [Read more...]

Do You Feel a Draft in Your Cedar Rapids Home?

Things are about to get colder in the Cedar Rapids Area.  We all know that time of year when we are starting our furnaces and bundling up.  Here are some ways to save some money on your heating bill by fixing the drafty spot in your home. Visual Inspection On the outside of your home inspect the areas where two different materials meet, like: All exterior corners Outdoor water faucets Where siding and chimneys meet Areas where the foundation and the bottom of exterior brick or siding meet For your inside inspection look for gaps or cracks that may cause air leaks, like: … [Read more...]

Are You Eligible for a VA Loan?

A VA Loan offers home mortgages guaranteed by the U.S. Department of Veterans Affairs, and offered by qualified lenders. VA Loans do have many advantages for veterans like no down payment and low interest rates. However, serving in the military for any amount of time does not automatically qualify a veteran for a VA loan. So who may be eligible? Veterans of Wartime and Peacetime Wartime is defined by the VA as the following: World War II- 9/16/1940-7/25/1947 Korean Conflict- 6/27/1950-1/31/1955 Vietnam- 8/5/1964-5/7/1975 Gulf War- 8/2/1990- Date yet to be … [Read more...]

Is Taking Possession Before Closing a Good Idea?

Timing of your move from one house to another can be tricky! We know how exciting it is to be moving into your new home and it maybe tempting to move before the closing date.  That could be a mistake for both the sellers AND the buyers.  Always consult your Real Estate Professional.  They can help you navigate the buying and selling process.  They can tell you best on if taking possession early is in your best interest. Why Buyers Should Proceed with Caution Buyers that move in early could give up their bargaining power.  Any unresolved issues with the title like judgments, liens, or old … [Read more...]