Buying Land to Build a Luxury Home

A primary or second home by the ocean, lake, mountains, or desert could be heavenly, but hard to obtain in today’s warp-speed real estate climate. So why not build the home of your dreams on your own land? You may already have a favorite vacation spot or a location in mind. Your Berkshire Hathaway HomeServices […]

Eliminating Appraisal Bias

Appraisals establish the value of a given home, making them extremely important to lenders, tax authorities, the housing industry, the economy, builders, buyers, and sellers. They’re integral to building home equity and wealth, giving advantages to some homeowners and disadvantages to others. Many lenders use automated valuation models to save time and money more so than to […]

The Five-year Equity Rule

When you buy a home, plan on staying there for approximately five years. Why? You’ll need equity in order to sell the home without losing money. Equity is your percentage of ownership VS how much the bank owns. With any mortgage loan, the first few years of payments go more toward paying interest than reducing your principal. […]

Can you get an even better rate by paying points?

According to Freddie Mac, mortgage interest rates are still hovering at all-time lows, signaling that the COVID-impacted economy is still struggling.  With interest rates well under three percent, it’s an ideal time to buy or refinance a home. Can you get an even better rate by paying points? When you’re quoted a rate like 2.73%, it […]

Down Payment Assistance and Resources

It’s a great time to buy a home, so now is the time to start lining up resources to help you make a down payment. There’s plenty of assistance available if both you and the home you want to buy meet eligibility requirements. While most programs are designed for first-time and/or low-income homebuyers, some are […]

How to Unpack Mortgage News

In June 2020, average mortgage interest rates fell below three percent for the 30-year-fixed-rate mortgage – the lowest level in modern recorded history, according to Mortgage News Daily. What caused such a dip? A stock market sell-off sent investors to the relative safety of the bond market, wrote housing journalist Diana Olick. Mortgage rates loosely follow the […]