Let’s assume that you have owned your home for several years. It has increased in value and the unpaid balance considerably less than you originally borrowed. In short, you have equity in the home. You’re thinking about buying another home and one of the questions going through your mind is “should we find a replacement …
Author Archives: Jancovech Real Estate
Cash-Out Refinance
With the rapid appreciation that homes have had in the last two years, most homeowners have equity. A common way to release part of the equity is to cash-out refinance but some homeowners may not be eligible currently. This type of loan replaces the current mortgage by paying it off and an additional amount of …
Encouraging Multiple Offers
Based on the current competition due to lower than normal inventories, it is possible for a seller to find themselves on the beneficiary side of a multiple offers. Two or more parties may be trying to buy your home at the same time and because of the competition, they increase the purchase price, possibly, remove …
Homeowners Need to Know
In the Boy Scouts, a certification, called a Totin’ Chip, is required for scouts to carry, and use woods tools like a knife, axe and a saw. They must read and understand the use and safety rules from the scout handbooks and demonstrate the proper handling, care, and use of each. No such certification is …
No Need to Make Common Mistakes
A successful home sale, considered by many owners, is to maximize their proceeds in the shortest time with the least inconveniences. Just because it is a seller’s market doesn’t mean that homeowners can shortcut some of the steps that make it happen and they certainly need to avoid commonly made mistakes. Pricing too high Low …
A Lesson from a Pro
A well-known professional home stager, recently, decided to sell the 4,000+ square foot home which she lived in with her husband. It was certainly well maintained and by most standards, could have gone on the market immediately. However, she still went through a full staging effort before she listed the home. The work included painting …
Equity, Price and the Agent You Select
A Seller’s equity in their home is the difference between what the home is worth and what they owe. At any point in time, it is an estimation because value is a very subjective term. If the seller thinks the home is worth more than an actual buyer will pay for it, the estimated equity …
Rising Rents – Music to Your Ears?
Rents going up may not be pleasant to hear for tenants, but it could be music to your ears if you are an investor. The recent CoreLogic Single-Family Rent Index, April 2021, showed a 5.3% increase in national rent year over year which doubled the increase experienced in April 2020. This is the largest annual …
Homeownership Cycle and Inventory
An interesting homeownership cycle begins with a starter home and progresses to larger and smaller homes throughout a person’s lifetime. Within a few years after purchasing their initial home, they might move up to a little larger house. The reasons could be that they simply want a larger home and can afford it, or their …
Mortgage Forbearance
Some homeowners who could not afford to make their mortgage payments this past year have been relieved to find out that their mortgage servicer or lender allowed them to pause or possibly, reduce their payments for a limited period. While it does relieve the financial pressure, it is a temporary remedy. About 2/3 of the …
