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Up-front Points to Lower the Rate

November 3rd, 2017 by tisner

When loans are quoted by lenders, most buyers pay attention to the interest rate but not so much to the points that may be charged along with the rate.19269905-250.jpg

A point is one-percent of the mortgage amount and considered pre-paid interest that affects the yield on the loan. Buyers or sellers can pay points but there can be limits based on underwriting guidelines for different types of loans.

A lower note-rate would obviously make the payments less. However, with a little analysis, you can determine how much points paid up-front can save a borrower or whether you’ll recapture the additional costs in the anticipated time in the home.

In the example below, two choices are compared; a 4.25% loan with no points vs. a 4.00% loan with one point. If the buyer stays in the home at least 69 months, he will recover the $2,700 cost for the point on the lower interest rate.

If the purchaser stays ten years, he’ll save two thousand dollars over the cost of the point. A less obvious advantage will be realized because the unpaid balance on the lower interest rate loan will results in an additional $1,780 savings.

buy-down example.jpg

This is an example of a permanent buy-down but temporary buy-downs are also available.  A trusted mortgage advisor can help you determine alternatives.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Indecision is Not a Decision

October 20th, 2017 by tisner

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.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Pre-approval is Good for Everyone

October 6th, 2017 by tisner

Buyer’s mortgage pre-approval is good for everyone in the transaction. It saves time, money and removes the uncertainty of knowing whether the buyer will be qualified after negotiating a contract. The direct benefits include:

  • Looking at “Right” homes – price, size, amenities, locationPre-approval is good for everyone.png
  • Find the best loan – rate, term, type
  • Uncover credit issues early – time to cure possible problems
  • Negotiating power – price, terms, & timing
  • Close quicker – verifications have been made

There is a significant difference in having a trusted mortgage professional take a loan application and run all the necessary verifications compared to going through calculators on a lender’s website. Beside the peace of mind, the cost of being pre-approved is a bargain and generally, limited to the cost of the credit report.

Even if a person has been pre-approved, a second opinion from a different lender may be a good option. It can verify there is a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you’d like a recommendation of a trusted mortgage officer.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Tips for Working through the Moving Blues

August 28th, 2017 by tisner

Moving into a new home can be a very exciting time in the lives of all of those involved.  Moving can also however be a time of sadness and or a feeling of displacement.   Both feelings of sadness and happiness are quite normal when it comes to moving.  Most folks likely don’t ever think they will feel sad when they move into a new home and are many times quite surprised by the feeling when it creeps up on them.  There are a few ideas listed below for you to help you make it through your feelings of sadness and blues during your next move.

  1. Be sure to plan some road trips back home before you move away from your loved ones.  Planning ahead to spend quality time with those whom you are moving away from can give you the sense of comfort  that you might not otherwise have.
  2. Many times when you move into a new home you think it is going to be so much better than your old house, especially if it is bigger and brand new. However, many times when you move from a small old cozy house into a large new house it can seem cold and sad.  Be sure to decorate your new home as quickly as possible once you move in.  Use your old decorations mixed with some new ones to keep those feelings of sadness at bay.
  3. If you have just moved to a new area and you want to feel connected to those who live around you, do your best to get out and make friends with your neighbors as soon as you can. Perhaps they can show you the local hot spots so that you can connect with even more people.  The more connected you become the less likely you will suffer from the moving blues.
  4. If you moved for your job, do your best to make friends with your new co-workers and let them know how you are feeling. You may find a few friends that are going through a similar situation as your own that you can connect with.
  5. If you have left family and friends behind, take advantage of your smart phone and or computer and video chat on a regular basis so that you stay connected.

These are just a few ideas on how to keep the blues away  when moving.  Keep in mind that sadness can hit you whether you are moving far away or just the next town over.  Change is hard, but these tips should help to make your transition a bit easier.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Reasons Why Buying an Older Home May Be a Good Idea

August 7th, 2017 by tisner

Perhaps you are currently on the market for a new home.  You may have grand plans to buy the biggest and newest one you can find.  Have you ever given any thought to perhaps buying an older home instead?  Below you will find a list of reasons why you may want to do just that.   

  1.  If price is an issue for you when looking for a new place to live, going for one with some age on it instead of a new one may be something to consider.   If you can find one that was built in or around the 1970’s you may find a diamond in the rough.  Keep an open mind when looking for a house to purchase and you may just find the place of your dreams.  

  2. They just don’t build em’  like they use to.  Likely you have heard this statement before.  You may have wondered whether or not it is true and in fact it is.  Houses built in years past typically were built with old hard wood trees.  These trees were usually allowed to grow to an old age without being disturbed unlike trees today.  These old hardwoods are much less likely to have any warping issues and resist rot.   Instead of dry wood for walls, many older homes have been built with plaster and lathe.  These materials are superior to dry wall because they provide better insulation as well as sound proofing.  

  3. Many times new houses are built in newly established neighborhoods.  While this is not a bad thing in itself, it leaves unknown factors like crime rates, school districts and the general population of a certain area.  Older homes tend to be in areas that are well established so you won’t have any questions left unanswered.  

  4. If character in a house is important to you then buying a home with some age on it is a great way to get what you are looking for.   Crown moldings (which add a lot of character) are many times found in older homes.  

  5.  If having a bit of a yard is something you wish to have then you may want to choose a place with some age on it. Newer homes come with less acreage.  

These are just a few reasons why buying an older home might be appealing to you.  Now that you have some facts on the subject you may find that you have changed your mind and your direction in your search for a “new” home.   

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Millennial Homeownership Rate Increases

August 4th, 2017 by tisner
Millennial Homeownership Rate Increases | MyKCM

Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group.

This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American6 Trends Poised to Reshape Homeownership Demandrevealed reasons why homeownership numbers will continue to increase for Millennials.

Millennials are the most educated generation in the U.S.

Why does that matter? First American explains:

“Our model shows that, all other factors being equal, the likelihood of homeownership increases by 3 percent for those that earn a bachelor’s degree over those with a high school degree. The likelihood of homeownership jumps another 3 percent for those that earn a graduate degree.”

The more educated, the better the likelihood for homeownership. And, as we mentioned: Millennials are the most educated generation in the U.S.

Homes & marriage go together

Marriage is a key determinate in homeownership. According to an analysis by First American, the homeownership rate is 30% higher among married couples compared to non-married households.

Millennials have put off marriage in the pursuit of higher education. As this group ages, more and more will marry and purchase a home.

Parents buy houses

According to the study:

“The homeownership rate is 1.7% higher for households with one or two children compared to households with no children, and it is 5.4 percent higher for households with three or more children.”

The report goes on to say that as Millennials grow older there may be an increase in not just marriage but also in married couples with children. That will probably also create a “corresponding” increase in homeownership demand.

Wages and the economy

The study goes on to explain that recent gains in income growth and a strengthening economy will also help all generations (including Millennials) be more willing and able to purchase a new home.

Bottom Line

We guess the time has come to announce – Here come the Millennials!!

By: KCM Crew

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Singles Are Falling for Their Dream Home First

July 21st, 2017 by tisner

Some Highlights:

  • According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year.
  • The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%.
  • The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men).

By: KCM Crew

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Home Buying Myths Slayed

July 14th, 2017 by tisner

Some Highlights:

  • Interest rates are still below historic numbers.
  • 88% of property managers raised their rent in the last 12 months!
  • The credit score requirements for mortgage approval continue to fall.

By: KCM Crew

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

The Cost of Renting vs. Buying in the US

June 23rd, 2017 by tisner

The Cost of Renting vs. Buying in the US [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.
  • Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

by

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

The Pros and Cons of Building Vs Buying a Home

June 19th, 2017 by tisner

If you are in the market for a new home, you may have already begun to ponder whether you should build your new home or buy your new home.  There are many good reasons to go either way.  Below is a list of pros and cons of building vs. buying a home for your consideration.

  1.  One pro of building a home instead of buying is that you can customize the home to be exactly what you are looking for.  There will be no need to go in and change things once you move in because the home will already be build to your liking.  A con of building a home to get everything you wish for is that the price may be out of your comfort zone.
  1. A con to building your home instead of buying your home   is that picking every little thing out can quickly become a daunting task.  When you build your own home you will be picking out things you never thought much about such as door knobs and ceiling fans.  If you like to pick things out and you don’t mind spending time doing so then this may not be a problem for you.
  1. If you want things done quickly and you like instant gratification then buying a home may be better for you than building one.  Typically when you set out to build a home you have a time frame you plan to finish it in that doesn’t work out quite like you planned.  If you are an impatient person you may want to just buy a home and fix it to your liking or better yet just buy a home that is everything you’re looking for.
  1. A con to buying a home can sometimes be location.  If you love the home but you don’t like the neighborhood then buying may not be right for you.  When you build you will be able to build on land that you purchase and love.

These are a few pros and cons to building vs. buying a home that can get you starting thinking a little bit deeper about what you want to do.   Buying or building  a home is a big decision no matter which you choose, so be sure to think about every possibility before you begin.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

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