SOLDbyNat.com Real Estate Services

In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected. Private mortgage insurance is required on loans that exceed 80% of the home’s value.  For conventional loans, the premiums range from 0.5% to 1% annually.  The PMI could add close to $100.00 a month to the payments on a $200,000 mortgage and over $200.00 a month on a FHA mortgage. FHA has two components to its mortgage insurance which includes an up-front charge on closing of the loan and an annual charge.  The up-front premium is 1.75% of the mortgage which can be paid in cash at closing or added to the mortgage amount.  The annual premium ranges from 0.45% to 1.35% depending on the loan-to-value and term of the mortgage. Most lenders are required to automatically cancel coverage when a 78% loan-to-value is reached which on a 30 year loan with normal amortization could be eight to eleve...

It is generally considered a seller’s market when the conditions favor the seller.  This condition exists when demand is high and supply is low without any significant adverse economic conditions taking place. Demand is determined by ready, willing and able buyers.  Low interest rates with indications that they will begin to rise fuels part of this demand. Rising prices also creates a sense of urgency to avoid higher housing costs. Inventory is currently below what is considered balanced in most areas. In some areas and price ranges, homes are selling very quickly, with multiple offers and sometimes at above the listing price.  When too many buyers are chasing too few properties, things get competitive and the seller is the beneficiary. Even when buyers and sellers come to an agreement on price and terms, a challenge can occur if the appraisal doesn’t meet the sales price.  Either the purchaser has to come up with the additional cash or the ...

Planning a summer trip is usually focused on what you’ll do, see and experience.  Enjoy it even more by spending a little time before you leave to make sure your home is safe while you're gone. Consider these suggestions along with your other normal efforts: Tell your neighbors you’ll be out of town and to be aware of any unusual activity. Notify your alarm company . Discontinue your postal delivery . Use timers on interior lights to make it appear you’re home as usual. Don’t make it easy for burglars by leaving messages on voice mail or posting on social networks. Post on social networks about your vacation after you’ve returned. Remove the hidden spare keys and give one to a trusted neighbor or friend. Lock everything, double-check and set the alarm. Take pictures of your belongings in case you need them. Disconnect TVs and other equipment...

Most taxpayers know that they will pay a 10% penalty if they withdraw funds from their IRA before they turn 59.5 years old.  There is an exception for first-time home buyers that allows a penalty-free withdrawal of up to $10,000 per person if they haven’t owned a home in the previous two years. This would allow a married couple who each have an IRA to withdraw a lifetime maximum of $10,000 each, penalty-free for a home purchase. In many cases, the money would be used for a down payment or closing costs.   However, some buyers might consider this source to increase their down payment so they could qualify for a loan without mortgage insurance. If the taxpayer qualifies for the penalty-free withdrawal, there may still be taxes due.  Contributions to traditional IRAs are made with before-tax dollars and the tax is paid when the funds are withdrawn.  Since Roth IRAs are made with after-tax dollars, there is no tax due when the funds are withdrawn. An...

Your Invited to an OPEN HOUSE! When: Saturday, June 14th  2-4pm Where: 4215 Waters Way Snellville, GA 30039 Pictures don't do it justice! In a quiet and established neighborhood, this home is spacious and well-maintained.      Watch the Video Tour See the MLS listing Features include beautiful hardwood flooring, master bedroom on the main, large eat-in kitchen w/ island, separate formal dining room, trey ceilings, Premium Hardcoat Stucco, private fenced back yard, and a large deck great for entertaining. Full, finished basement includes a bedroom, huge bathroom and living area. Great space for a theater or game room!  Improvements include: new roof (5 yrs old), new HVAC (3 yrs old), plus much more! Come see for yourself! Motivated sellers so no games! Not a short sale or foreclosure so no long waits and banks losing paperwork. It will be a smooth transaction!  Contact me to schedule a private showing (404) 857-...