Introduction If you plan well, home equity can easily be your greatest financial asset. However, while home equity can be the biggest chunk of your personal wealth, some unexpected setbacks can also undermine it fast. In accountant jargon, home equity is the difference between the current market value of your home and the total loans … Continued
Introduction Home equity indicates the value of your home that you—the homeowner—control compared to the value that the lender of the mortgage loan on your home controls. Is this too difficult to understand? Then let me simplify this. Imagine you owe $200,000 on your mortgage loan. And let’s say your home is worth $290,000. Then you’ll … Continued
Owing more than your house is worth is not a favorable position if you should need to sell, even more so if you are under pressure to sell quickly for personal or financial reasons. Often already under a great deal of stress, taking on the sale of a house can seem like an overwhelming proposition. … Continued
When your mortgage is underwater, the amount you owe on the mortgage loan is more than the property’s current market value. So, of course, it’s best to ride out the changing real estate market and stay in the home for several years to allow equity to build. However, many motivating factors lead homeowners to sell, … Continued
Losing your home to foreclosure can be painful. It’s an immensely stressful experience, making you—a homeowner—homeless and ruining your credit rating, as well. In fact, foreclosed homes were a visible symbol of the 2008 housing crisis, with the number of foreclosures hitting 2,330,483. Fortunately, the number of properties with foreclosure filings was a modest 324,237 … Continued
In a blog post, I wrote last year, I mentioned that a house typically stayed on the market for just 19 days in December 2021. The housing market actually had a breakout year in 2021. Clearly, it was a strong seller’s market then. But unfortunately, things haven’t been so rosy since, and the market has … Continued
As a general rule of thumb, things that are not bolted to the wall or floor are considered personal stuff. When you sell your house, leaving your personal stuff behind after the closing date can result in conflicts with the buyer. As much as possible, you should work with the buyer to avoid such a … Continued
Inheriting a property is always nice. Some inherited properties, however, come with challenges. Most often, you inherit a property due to the passing of a relative. Let’s assume there’s no dispute about who the beneficiary of the property is. But there may still be a lot of outstanding routine maintenance work. When all this is … Continued
The only thing that’s constant in life is change. A major life change is just one event away. It could be a financial crisis, sudden health breakdown, unexpected spouse death, divorce, work-related relocation, changing neighborhood, or even empty nest syndrome. All of them are personal crisis situations. And you might simply decide that you have … Continued
Hello, My name is Norvell Gainey. I am very happy that I chose to do business with Home Seller Heaven. The following are 8 reasons I chose them over their competitors (this is the link to my testimonial on YouTube: https://youtube.com/shorts/nSA1KWvlSDs?feature=share): #1: Highest Offer Price This was my family home for 50 years. I was … Continued
What’s the biggest cost you’ll face when you sell your home? Of course, it’s the 6 percent real estate commission. Let me explain. Imagine you are selling your home for $350,000. A standard 3 percent listing commission will cost you $10,500. You’ll also need to pay the buyer’s agent a standard 3 percent commission. So … Continued
Selling vacant residential land is different from selling a home. The market dynamics for land are not the same as they are for a ready-to-move-in home. You need to understand the key differences first to sell land by owner successfully. Let’s look at them one by one: Land buyers and home buyers are different categories … Continued
Foreclosure occurs when, for whatever reason, agreed to payments for a mortgage loan and not being made in a timely and consistent manner. The reasons this can vary as widely as there are homeowners, from the sudden loss of life from a contributing family member, unexpected loss of income, or a myriad of other possibilities. … Continued
It can get frustrating to sell my house fast Miami! Yes we know! But you want to know some of the most common reasons why house listings linger on the Miami market for long periods? People want to sell their house fast for various reasons but not everyone is lucky enough to do so. With … Continued
