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Homebuyer Heaven Can't Possibly Last
With interest rates at record lows over the past year, there's really only one way for them to go, the only question is when. Most experts agree that rates will remain fairly stable in the short term, at least until the end of the year, and some believe they will even decrease slightly. However, the prospect of a sharp increase in 2005, continuing into the following year will have many mortgagees feeling uncomfortable.
Those most at risk when rates begin to rise again will be borrowers who have been over eager to buy in to the mortgage market while rates were low, without taking the time to secure the best possible deal, or to consider their position in the long term. The low interest rate environment has been ideal for aggressive, unscrupulous lenders to encourage customers to borrow more than they need, or agree to repayment plans they can't realistically afford, particularly when rates begin to rise again. Being in a hurry has also meant many people have been less careful about checking terms and conditions of the loans they are agreeing to. To make matters worse, many homebuyers have been swayed by low interest rates into paying too high a price for their property.
Some financial experts believe interest rates will remain low long enough for an adjustable rate mortgage to continue to be an attractive option, but borrowers will need to be quick. With rates set to rise, an ARM would seem an irrational choice, but this type of loan is still surprisingly popular. Overall rates for this type of loan are generally lower than rates for fixed term mortgages, and for those planning to pay off the loan in a reasonably short time, the remaining period of very low interest rates will still be an advantage. Many experts also believe it's still not too late to take advantage of low rates to refinance a home loan package. The key for borrowers is to keep their cool when negotiating a deal, read the fine print, and think about the long term picture.
David Cannell is a freelance writer and university educator and also the owner of property-raider.tk
Real Estate Investment 2005 - The Hottest Countries for Investment in 2005
Whether you are a real estate investor looking for a steady and 'safe' investment in a proven market or a real estate speculator willing to gamble on the unknown and undiscovered in the hopes of gaining a significant ROI (return on investment), this article covers the real estate investment hotspots for 2005.A recent UK government report discovered that there was a 250% increase between 2000 and 2004 in the number of Britons buying property abroad solely for investment purposes, and this trend does not seem to be limited to the UK nor does it seem to be slowing down!The global stock markets seem to be in decline, there is a worldwide pension crisis looming and we have uncertainty in the Middle East, in the UK the housing market is unaffordable, possibly over inflated and unlikely to bring significant returns for investors late in on the game and so more and more of us are looking further a field for our investment opportunities.
Get Rich With Mobile Homes
Does the myth that mobile homes depreciate in value keep you from investing in them? Well, they do lose value in a park, on a rented lot. Mobile homes with real estate, however, are an entirely different investment.
How to Get Financing after Filing Bankruptcy
If you're thinking about buying a home but have declared bankruptcy in the past, don't give up hope. There are still ways for you to be able to find a loan, even if your credit history is less than sterling.
The Real Estate Market In Spain: Making Profits Out Of Sand
The Real estate market in Spain keeps gaining momentum and is of a vital interest among overseas investors. Property prices in the country continue growing at rapid pace due to a sustainable development in many areas of the mainland and the islands.
Buying a Home with Zero Down Payment in Irvine, CA
Years ago, the only person that could buy a home in Irvine with zero down payment using a new purchase money loan were Veterans of War (called a VA loan). In the past several years, there has been an explosion of new loan programs designed to fit most any buyers circumstances.
Selling a Home - What Personal Property Stays?
The home selling and buying process can be confusing, particularly when it comes to figuring out what items stay with the home. This is especially true when it is a FSBO (for sale by owner) operation.
I have a buyer for your property and I can sell it now!
A Realtor has just talked to you and said, "I have a buyer for your property and I can sell it now; perhaps for more money than the price your current real estate agent has it listed for." Have you heard this or a version of this? Or, "I have a buyer for your property and I can sell it now; for Big Bucks (with an incredibly high figure named) perhaps for more money than that.
Where is the Sophisticated Property Investor Putting his Money?
The Traditional FavouritesOver the last five to ten years, UK investors buying property abroad have generally stuck to the traditional favourites Spain, France and Italy. With prices a fraction of those in the UK and a guarantee of more sunshine, these markets offered plenty of scope for capital appreciation, rental return and holiday home use.
Successful Property Letting And Management
Successful Property Letting And Management is not something that just happens, it is something that has to be worked at, and planned professionally. When a landlord or an agent has a problem let, it is almost certainly to do with the suitability of the selected tenant.
Tenants in Common (TIC)
Tenants in Common is a way of sharing ownership of property among two or more people. Each tenant holds an undivided interest in the property, and each tenant may own a different size portion of the property.
Home Inspectors - Negotiating a Lower Price
To help you negotiate a fair sale price for a home, it's best to get an appraisal and inspection report. Even if you agree directly with the home seller on a sale price, you may want these items to safeguard the value of your new investment.
Seven Questions You Should Ask When Buying a Condo Hotel Unit
You may have heard all the buzz about the newest type of vacation home investment, condo hotels. These are condominiums located in four- and five-star hotels in cities like Miami, Orlando, Las Vegas and Chicago.
Real Estate Investing - The Job Escape
Real estate investing is pretty unusual in lots of ways. Real estate investing is creative.
Basic Real Estate Valuation
Given the current interest (dare I say hysteria) associated with investing in dirt and buildings, I thought it might be interesting for our readers to have a quick, dirty manual on real estate valuation. My perspective comes from years in the industry as well as some time learning at the knee of some of the better real estate minds in academia.
The Perils of the Property Ladder: Has Anyone Noticed the Silence?
There was a time when every conversation was focussed on property and every other TV programme was about property makeovers. Everybody wanted to get into property and those already on the ladder seemed fixated on becoming wealthy overnight.
Investing In Land
Changing social trends point to a huge rise in demand for housing within the next twenty years.With an ageing population and more single people requiring accommodation, it comes as no surprise that the government has ordered planning authorities to find more land to develop, including areas of greenbelt.
Do Bankers, Bubble, Discounters, & Justice Department Cloud Real Estate Industry?
Once relegated to the classified advertising section of the local paper, real estate has jumped to front-page headlines and covers of national magazines. Leaders in the real estate industry are weary from interview requests for their perspectives on market conditions, the ongoing battle with the banking industry looking for entry into residential real estate brokerage, online brokerage commission discounters and investigations into their business practices from the U.
Real Estate for Beginners: Residential Property Taxes
Whenever you own a piece of land, you will be taxed for it. Whether it is commercial property or residential property, there is still a tax to pay, whether it is for a village, town, city, county, or state.
First Impressions Will Sell Property Fast!
First impressions count, buyers will have already formed an impression before they step into your property. A well-kept garden, pathway and fence, plus a freshly painted front door are immediately appealing, whereas a scruffy outdoor space with a litter bin outside the front door may turn many prospective buyers away.
An Estate Planning Primer
An estate plan can be designed by clients and their professional advisors to achieve the client's personal and financial objectives. Or, it can be an arrangement imposed upon survivors by state intestate succession laws if someone dies with¬out a valid, up-to-date will.
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