• Team Sisters
  • Raving Fans
  • Around Town
  • News you can USE!
  • Timely Advise
  • Buyers
  • Sellers
  • Property Search
  • What’s My Home Worth

Team Sisters BR

~ Local Real Estate Market and Community Information for EBR, Ascension & Livingston Parish Residents

Team Sisters BR

Tag Archives: Buying a Home

Indecision is Not a Decision

17 Tuesday Oct 2017

Posted by Make your Home your Haven! in Finding a Realtor, Helpful Information, News you can USE!, Timely Advise

≈ Leave a comment

Tags

Buying a Home, Buying vs Renting, Mortgages, Real Estate, Rent vs Buy, Rent Vs Own, renting vs buying, renting vs buying a home, Savings on buying a home, steps to buying a home, taxes

There could be some legitimate reasons for not buying a home but indecision is not one of them. Indecision is rooted in not having enough information to move forward to own a home or continue renting.

18443593-250.jpg

If you keep renting, at the end of the year, you have had a place to live and a pile of receipts that helped the landlord pay for his house. Deciding to buy a home will give you a place to live that is yours and all the things that come with that.

When you consider principal reduction, appreciation and tax savings, your monthly cost of housing could be much less than the rent you’re paying. The principal reduction included in each payment is like a forced savings account that increases as your mortgage balance decreases. Your equity in the property will also grow due to appreciation as the home goes up in value. The equity is part of your net worth and an investment in your family’s future.

The income tax savings can be an additional financial consideration if the combined interest and property taxes are greater than the allowable standard deduction.

Trends are showing that both tenants and homeowners are staying in their homes longer. It’s been said that whether you rent or own, you’re paying for the home. Do you really want to buy the home for your landlord? Check out your numbers on a Rent vs. Own and then, call us to help make it happen.

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

Your Best Investment

12 Monday Oct 2015

Posted by Make your Home your Haven! in News you can USE!

≈ Leave a comment

Tags

Baton Rouge Real Estate, Baton Rouge Real Estate Trends, Buying a Home, conventional mortgage, FHA loans, FHA mortgage

According to a Federal Reserve report on Consumer Finances, homeowners’ net worth is 36 times greater than that of renters. Building on that study, the National Association of REALTORS® believes that by the end of 2015, the factor will grow to 41 times greater.

36x.png

There can be several factors that contribute to this disparity but an important one is the forced savings that is achieved due to an amortized mortgage. A portion of the payment goes to the reduction of the principal balance of the mortgage which increases equity in the home.

Appreciation is also a major contributor to homeowners’ equity. Homes, in most areas, have consistently increased in value over the long term and during the past four years have experienced solid growth. Many economists expect home prices to increase in the next five years.

Let’s look at a scenario where a qualified buyer considers three different options to see what their investment would be in five years: purchase a certificate of deposit, invest in the stock market or buy a home. The following assumptions are made: a $250,000 home with an $8,750 down payment with a 4.5% mortgage for 30 years and 3% annual appreciation; CD rate at 2% and a 5% return in the stock market.

The $8,750 would grow to $9,661 in the certificate of deposit, to $11,167 in the stock market and to $69,900 in equity with a home purchase. That is over a six times growth in the same period of time due to the amortization of the loan and the appreciation.

Check out Your Best Investment to compare possible differences in your price range.

Your best investment.png

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

Build Equity Faster

13 Monday Jul 2015

Posted by Make your Home your Haven! in News you can USE!

≈ Leave a comment

Tags

Baton Rouge Real Estate, Build Equity, Building Equity, Buying a Home, conventional mortgage, FHA mortgage, Mortgages, RDloans

Equity is an asset and an appreciating home is an investment. While some people have resolved themselves that a mortgage payment is a normal part of life, others have set goals to get their home paid for as soon as possible. There are several strategies that will work but they all require persistent vigilance.

44969574_250.jpg

A shorter term mortgage such as 20, 15 or even 10 years will not only pay off sooner, it will generally have a lower interest rate. A recent comparison at Freddie Mac’s Primary Mortgage Market Survey showed a 30 year fixed-rate mortgage at 4.04% compared to a 15 year fixed-rate at 3.20%. The fees for the shorter term were even .1% less. The shorter term with the lower rate would have a higher payment but some people consider it forced savings.

Additional principal contributions to any length fixed-rate mortgage will save interest, build equity and shorten the term of the loan. Some homeowners may apply lump sums at various times during the year such as when bonuses are paid or a tax refund is received.

Other owners might increase their payment by $100, $200 or more each month. Setting the increased payment through electronic banking would insure that you consistently make the extra amount.

Bi-weekly payments make 26 half-payments in a year which equals 13 full-payments. Because of the frequency, it reduces the interest that is due. This might work well for borrowers who are paid every two weeks but could present cash flow problems for those who are paid on schedules that don’t coincide.

Making one extra payment a year will have almost the same effect as a bi-weekly payment. The 13th payment would be completely applied to principal.

Before embarking on one of these strategies, it would be wise to verify with your lender that it complies with their policies. Check out the Equity Accelerator to see how it could affect your loan.

Like this:

Like Loading...

SO.. you want to buy a HOME.. check this out!

26 Thursday Feb 2015

Posted by Make your Home your Haven! in News you can USE!

≈ Leave a comment

Tags

Baton Rouge Real Estate, Baton Rouge Real Estate Trends, Buying a Home, Home Ownership Tax Benefits, how to buy a home, Relavent Real Estate News, steps to buying a home

Home is Worth the Sacrifice 

house orange.jpgThere are many reasons people want a home with the most frequent responses being a place of their own, to raise their family, share with their friends and feel safe and secure.  These are all strong motivations fueling the American Dream of owning your own home.

The motivation is so dominant that buyers are willing to make sacrifices to have their dream come true.  According to the 2014 National Association of REALTORS® Home Buyers and Sellers Survey, 72% of first-time buyers cut spending on luxury or non-essential items.  They also cut spending on entertainment, clothes and even cancelled vacation plans.

The value of getting their own home is more important than the immediate gratification of things that are considered less important.  While qualifying guidelines were increased last year, there are still more buyers purchasing homes at near record-low mortgage rates.

Sacrifices.png

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

Realize Tax Savings Sooner

11 Tuesday Nov 2014

Posted by Make your Home your Haven! in News you can USE!

≈ Leave a comment

Tags

Baton Rouge Real Estate, Buying a Home, Home Ownership Tax Benefits, TAX SAVINGS

A homeowner’s tax saving benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes.  Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year.

It is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks.  Employees would talk to their employers about increasing their deductions stated on their W-4 form.

By increasing the exemptions or deductions, less is taken out of the check and the employee will receive more in each pay check.  If a person over-estimates their exemptions and therefore, underpays their income tax, they might incur interest and would have additional tax to pay when they filed their tax return.

Buyers considering this strategy should seek tax advice and discuss it with their human relations department at work.   Additional information is available on the Internal Revenue Service website about Completing Form w-4 and Worksheets.

Increase Allowances.png.

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

TAKE A TOUR OF HOMES MARKETED BY..SISTERS TAK’N CARE OF BUSINESS!

10 Friday Feb 2012

Posted by Make your Home your Haven! in Real Estate For Sale

≈ Leave a comment

Tags

Baton Rouge Real Estate, Baton Rouge Real Estate Trends, Buying a Home, denham springs building, downsizing, Home Ownership Tax Benefits, homes in rural areas, Housing Market Trend, Relavent Real Estate News, walker homes for sale

 

Call to confirm which Homes included in tour inventory are still available!  This tour represents homes marketed by..

“The Carol Cotten Team”

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

Rates are Ripe for the Picking!!! Don’t Wait… or Your Best Deal Could Be Spoiled..

16 Thursday Jun 2011

Posted by Make your Home your Haven! in News you can USE!

≈ Leave a comment

Tags

Baton Rouge Real Estate, Buying a Home, Interest Rates 2011

30-Year Conventional Mortgage Rate (MORTG)

Graph of 30-Year Conventional Mortgage Rate

Type:Line

Size:Medium

Range:Max

Recession Bars:On

Units:Levels

Notes: Growth Rate Calculations | US recession dates

Series ID:
MORTGSource(s):
Board of Governors of the Federal Reserve SystemRelease:
H.15 Selected Interest Rates

Units:
Percent

Frequency:
Monthly

Seasonal Adjustment:
Not Applicable

Observation Range:
1971-04 to 2011-05

Last Updated:
2011-06-07 8:46 AM CDT

Notes:
Contract interest rates on commitments for fixed-rate first mortgages. Source: Primary Mortgage Market Survey data provided by Freddie Mac.
Copyright 2011, Freddie Mac. Reprinted with permission.

Share this:

  • Share
  • Facebook
  • Email
  • Twitter
  • Print
  • Reddit
  • Tumblr

Like this:

Like Loading...

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 801 other followers

Realtor®

RE/MAX Professional
225.615.7755 Office
225.933.7062 Mobile janicedubois@gmail.com www.teamsistersbr.net www.janicedubois.com
8556 Jefferson Hwy Suite A Baton Rouge, La. 70809
e-Pro, SRS, ABR, CRS
Team Sisters w/ Carol Cotten & Mary DiBenedetto
Broker Lisa Landers
License # 0995682454 ...
Agent license # 71854 In the state of Louisiana by LREC
Each Office Interdependently Owned and Operated | EBR, Livingston and Ascension Parishes
The Greatest Compliment I can Receive is a Referral from my Clients, Family, and Friends! - Thank You

Categories

Recent Posts

  • Newest Development off of Hoo-Shoo-Too Rd in Baton Rouge
  • New Listing in Baton Rouge!
  • COVID 19 UPDATE
  • We are here for you!
  • YOU CAN BUY A HOME WITH LESS THAN 20% DOWN!

Blogroll

  • Best Real Estate Blog 0

Archives

Latest Tweets

  • Check out my #listing in #BatonRouge #LA #realestate #realtor tour.corelistingmachine.com/home/SSHEMP https://t.co/2yHCD30r1zPressed 4 hours ago
  • You can make this house your home! Ask me for more info. #realestate cpix.me/l/116911934 https://t.co/GdX2zxeMVaPressed 11 hours ago
  • You won't be able to apply for a #loan if your #credit is frozen. cpix.me/a/116413463 https://t.co/CNxKmRcrirPressed 2 days ago
  • It's deals like this that hardly ever stay on the market! #beautifulhome #homesweethome cpix.me/l/116239111 https://t.co/PPqcmDpYbPPressed 4 days ago
  • Ayers Rock also serves as a place to stargaze. Find out more in this #travelguide. #Australia… twitter.com/i/web/status/1…Pressed 4 days ago
  • Where Have All the Houses Gone? simplifyingthemarket.com/en/2021/02/22/…Pressed 4 days ago
  • Just posted a photo instagram.com/p/CLj6jrDnvcvb…Pressed 5 days ago

Start a Blog at WordPress.com.

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
%d bloggers like this: