Starting May 1, 2023, some borrowers will pay more for their mortgages thanks to a new rule from the Federal Housing Finance Agency regarding loan-level price adjustments, or LLPAs. The changes will update the current fee structure on most loans originating from mortgage lenders in the US. Borrowers getting a conventional mortgage are subject to…
How To Find Fixer-Upper Houses For Sale One of the easiest ways to find a fixer-upper home and get a great deal is by working with a real estate agent. Your realtor will have the connections and insider knowledge to help you find the home you are looking for. Additionally, by accessing the multiple listing…
Interest rates are a key factor that affects home ownership. The interest rate is the cost of borrowing money, and when it comes to mortgages, it can significantly impact the affordability of homeownership. This essay will explore the relationship between interest rates and home ownership and the ways in which changes in interest rates can…
A pledge or deposit to the seller represents the buyer’s good faith to purchase. Earnest Money–what is it? When a buyer pays a seller to show their intention and good faith to complete the transaction to purchase a home, this is called a pledge or earnest money. The amount is usually between one to two…
Home Values on Zillow Explained Is a Zillow home value estimate accurate? Home buyers and sellers must know that the home value estimated by Zillow is only sometimes accurate. There are numerous internet tools available today when selling or buying a home. Resources are readily available for finding properties, listing, viewing, and advice on selling…
With a constantly changing real estate market, deciding whether you want to rent or buy a home can be challenging. This blog focuses on some things you should consider and what you need to know about the 2022 real estate market related to renting and buying a home. Your financial situation determines whether you should…
Although The Katie McNeill Team has been very fortunate in Northeast Ohio and Lake County, here is an article describing the state of Real Estate in the Country. To get the best price for a home, it’s important to know when to sell or buy based on current housing price fluctuations. For sellers, when to…
When your listing agents host an open house, they show a house during a prescheduled time when the property can be offered to potential buyers and the public. It is one of the most effective tools for selling a home. Holding an open house is a successful way to create interest and demand for any…
A common question among home buyers is whether a home inspection is necessary when buying a home. Some buyers are tempted to waive a home inspection, wondering if it’s worth paying for a home inspection at all. The National Association of Realtors states that roughly 80 percent of homebuyers have a home inspection. Once under…
The real estate market is hot in Northeast Ohio and all over the country right now. With limited inventory, it is likely that any home on the market is going to receive multiple bids. If you are looking to buy a home then here are some tips to follow in order to win against multiple…