Monthly Archives: February 2009

Good deal….or not a good deal? Take the QUIZ

question-mark_cartoonWhen you buy an house, how will you KNOW whether you got a good deal or not?   A commom misconception is to see how much the seller discounted the asking price and then decide if that’s a “good” discount or not.   I’m not sure how you magically guess the appropriate discount to qualify for a “good”

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Advice for new Investors… cheaper isn’t always better

If you’re at the clothes store, and you buy a shirt off the clearance rack for 90% off, is it a good deal?   What if it doesn’t fit you or it’s just plain ugly !?   I’ve been getting a lot of calls on a really low priced bank property from would be Investors looking for an investment property.   

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Snappy answers to stupid Real Estate questions

(Warning, another rant about to start)  If it only happened once or twice I’d be fine, but I can’t count how often I’m showing a propety to a prospective home buyer and as we walk in to the house, there’s no furniture, no curtains, no appliances, no evidence of human life or activity for centuries.  

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what do you WANT? ….just TELL ME !!

(Warning… rant about to start) I just LOVE IT when an investor/ home buyer tells me they want a “good deal”. Thank you, Captain Obvious, I didn’t know that.

So what if you went into a diner to eat and said…. “give me something that tastes good” …they would look at you kinda funny,

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What are Points and why do I care?

the_thinking_capPoints are the closest thing to legalized bribery!   When applying for a mortgage to buy a house, you can pay the lender a fee to get a better interest rate.   The fee is called a point and is 1% of the amount you borrow.   You could pay one or many points.   The point costs you money upfront but the lower interest rate saves you money each month on your payment.   

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What’s my mortgage payment gonna be ??

moneyhouse2Even though there are tons of mortgage calculators on the web, here’s a quick and easy way to ballpark your monthly mortgage payment in your head.    If the house is $200,000, just multiply by 10% and subtract “a little bit” So, your payment should be a little under $2000/month…maybe $1700/month would be a good guess,

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