September 2004
Volume 7 Issue 9
Question:HOW TO FIND THE RIGHT LOAN
In hot market when homes are selling within a few days, at record prices, some homeowners are tempted to sell their homes without the help of a real estate agent. In the industry, this is called For Sale By Owner (FSBO). If you are thinking about doing this, DON’T BE TEMPTED! You might be losing thousands of dollars.
That’s because when homes are selling quickly, homeowners can’t keep up with the very latest prices. So FSBOs can be priced too low. Or, if they are priced too high, they will languish on the market too long and become “stale.” A qualified real estate agent can help you avoid the pitfalls of going it alone. Contact Risa Saltman, a CRS Designee today.
The stock market’s performance this year has been a real disappointment, so consumers are taking another look at the value of real estate as an investment. The track record of residential real estate is impressive. According to a recent study, home prices have increased an average of 5.6 over the past 25 years. In addition, the demand for homes remains strong. According to the NATIONAL ASSOCIATION OF REALTORS®, the housing market will set a new record in 2002, with 5.44 million existing homes expected to be sold
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This months joke:
Question: Who earns a living driving their customers away?
Answer: A taxi driver
Celebrate our Freedom this Labor Day
CARE FOR ORIENTAL RUGS
THE RIGHT WAY
Oriental carpets add beauty and comfort to any home. Since each rug is unique, it’s a good idea to take extra special care of it. A few simple precautions include using rug pads and the proper cleaning materials. Rug pads keep carpets in place and help protect against uneven wear. Use furniture slides if you have any chairs or tables on top, and don’t put any table legs on vulnerable spots.
You can air out rugs by hanging them on a clothesline, or simply laying them outside on the ground. The sun makes the rug more pliable and easier to beat. Beat it with a flat instrument like an old fashioned rug beater or something similar. Broom handles are too narrow and too long.
Wash smaller, durable rugs with mild soap and cool water. Use a soft brush to scrub out stains and rinse with a hose. Let the rug dry in the sun and give it a quick vacuum before replacing it. When you replace the rug, rotate its position, and then vacuum. Remember, don’t leave rugs soaking for too long as colors can bleed or fibers weaken. Also, keep the rug flat when drying so it won’t buckle.
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For most of us, buying a new home means finding a loan. There are many types out there, so it is important to understand what your options are. Loans can have fixed or variable interest rates. Fixed rate loans mean you make the same principal and interest payments during the loan term. Variable rate loans can have a number of “indexes” and “margins” which determine when and how the rate and payment amount change. Most loans can be paid for over a period of up to 30 years.
Have questions? email Risa at questions@risa.net or call her at 1-800-699-4901 September favorite
links: Realty Times - EXCELLENT real estate enews
Usually the price of a home mortgage loan is stated in terms of an interest rate, points or other fees. A “point” is a fee equal to 1 percent of the loan amount. Sometimes you can pay fewer points in exchange for a higher interest rate or vice versa.
Making comparisons is the best way to find the home mortgage that suits your needs.
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