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Long term advantages

You've been reading negative stories about the housing market, and while some are experiencing a slowdown, you can still pursue the American Dream. Remember that housing is a long-term investment. Some people tried to create high yields over the short term, and that's part of the reason so many markets are experiencing readjustments now. Regardless of whether housing is up or down, individuals and families will always have a need to buy or sell. Interest rates and prices are at historical lows, creating an excellent atmosphere for qualified buyers. When reading the gloom and doom about foreclosures, it's important to keep the reports in perspective. Most defaults are associated with sub-prime lone, which account for less than 10% of all mortgages. Turn to the advice and guidance of a trusted local real estate professional, and take advantage of positive forces in the current housing market.

web site: www.MadisonVaRealEstate.com

What's Your Estimate?

No one expects you to be able to appraise a home. It's a professional's responsibility to provide an independent estimate of either your home's value, or the value of a home you are interested in purchasing.
While the bank uses the appraisal to guarantee your home's tangible value against the mortgage, such documentation also ensures that you're not overpaying for your home. While your lender usually selects the appraiser, be aware that federal law guarantees you a copy of the report.
When selling your home, a professional appraisal will validate your list price, and assure you that you are getting what your home is worth. It’s a good idea to produce receipts for septic or roof repairs, or work on your heat and air conditioning. This proves your responsibility and pride-of-ownership, adding real and perceived value to your home.
If you're suspicious of an appraisal, ask a realty professional to provide a Competitive Market Analysis based on the most recent closings in your area. Sometimes another opinion is all you need to put your mind at ease.

Chalet For Sale on Beautiful Ruth Road Madison

For More Information visit : www.MadisonVaRealEstate.com

From Renter to Owner

Today's real estate market provides an excellent opportunity for renters to turn their monthly payments into equity. While rising slightly, interest rates now are still much lower than in the past ten to twenty years, and home prices in many areas are adjusting back down to reflect reasonable levels of appreciation.

It's critical to begin taking those first steps towards home ownership, and here are some reasons why.

Money paid for rent goes into the pocket of the landlord, while money paid for a mortgage goes toward equity in the home. In other words, you keep the money you pay for your home, as its investment value increases with every payment.

Over the last decade, the cost of rent has increased an average of 3% each year. At that rate, payments of $1,000 per month would total $137,567 over ten years, with no accumulation of equity or wealth.

If you could put $10,000 down on a $210,000 home today and pay $1,100 per month, your equity would total $138,521 over that same ten-year period. That's your money! This calculation assumes a 30-year fixed rate loan at 6.5% and an annual appreciation of 4.5%.

So sit down and do the math, and then contact a local real estate agent to discuss your best options for home ownership. It’s never too late to start building your future!

For More Information on Area Properties visit my site at : www.MadisonVaRealEstate.com