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Learn more about AMSI, the staff, clientele, and why you should choose AMSI.
Want to learn more about AMSI? Then visit www.amsires.com
Home Search – Determine your Wants and Needs Checklist
Searching for your new home can be a time consuming process, especially if you have not determined in advance the parameters of your search. Take some time to develop your own list of needs and wants, and prioritize them.
Although you may have determined your search parameters in advance, buyers often find that their expectations may get further refined during the search determined by factors such as availability, supply and demand.
You must differentiate between your true needs and what you would like to have, your wants. Once you have a clearer view of what your house will need to have, the next step, actually looking for a home – will be easier for you and your AMSI agent.
Keep in mind, that your budget is a big factor and will impact, which needs, and moreover, which wants, you can actually realize. Get our checklist on how to determine your wants and needs.
For more information about Buying a Home visit http://www.amsires.com/buying_a_home.php
Buying a Home in Today’s Market
As a first time homebuyer you probably have many questions. Besides how to get a mortgage and finance your new home, you should consider whether buying in today’s market makes sense for YOU and what price you should pay in order to get to the home of your dreams.
When is the best time to buy?
There are many factors and aspects to consider before anyone can say when is the best time to buy. All in all today, being a buyers market gives you leverage when buying a home. Low home prices result from this excess of supply over demand. What is essential is that you make your decision after having considered both the real estate/housing market and the mortgage market. Currently low home prices combined with low interest rates make purchasing real estate a viable and good decision.
Want to know more about the mortgage market outlook? Then read The Real Estate Report from AMSI Broker, Robb Fleischer for local market trends in San Francisco http://rereport.com/sdc/print/RobbFleischerSF.pdf
Ultimately, the best time to buy is when you are personally ready to settle in, when your finances are in order and when the home prices are low. (…and in today’s market, when interest rates are low, and with the availability of inventory it does make perfect sense).
How to qualify to buy a home?
Before you start your search for your home, you should get pre-qualified, to find out if you do qualify to take on such a significant purchase, but also to find out how much you can afford. The first step should be to get your finances in order and get pre-approved for a mortgage, so you know the types of loans, financing and rates extended to you.
How to know which price to pay?
Buying a home is a process one must learn, whether you are a first time buyer or a savvy investor. Each transaction is unique and differs from another. It is important that you work with a professional expert or good team so the entire process is efficient.
Working with a real estate professional is important; not only he or she will make the process smooth for you but also check all disclosures, and make sure you do not pay more than the current market value of the house of your choice. A real estate agent knows how to evaluate a property but also how to negotiate the best price, which will satisfy both you as the buyer and the seller, and ultimately make you the new homeowner!
Want to know more about real estate sales? Then visit our website www.amsires.com
Benefits of Buying a Home
Home values fluctuate over the years, but show a steady increase over time. Statistically home prices have risen constantly in the US and real estate has been a proven investment to build wealth. Most likely home value keep up with the inflation or exceed it to one or two percent (or more depending on the region).
Stable and secure environment
Owning a home means that you and your family can settle in a stable and secure environment.
It will be your own home and you can remodel and renovate the place whenever you want (subject to zoning and building codes), and have the place you always wanted. As long as you abide with Condo and Building rules, you can make your home the place you always wanted to be.
When you are paying rent, that money goes to someone else, without any benefit to you besides the right to live in a space. When you pay into a monthly mortgage for your own home or investment, instead of paying a monthly rent, you are investing into something you will be eventually be yours; you are acquiring an asset and investing in your future or retirement.
In the process of paying back your mortgage you more and more own the home and build equity.
IRS Publication 530 contains tax information home buyers. There are many deductions and benefits that first-time buyers or investors can take advantage of when it comes to property.
In 1978, the passage of Proposition 13 in California established the amount of assessed value after property changes hands and limited property tax increases to 2 % per year or the rate of inflation, whichever is less.
Mortgage interest deduction
A mortgage payment includes the items principal, interest, taxes and insurance (PITI). The largest component of your mortgage payment especially the first years after the purchase is the interests, which is deductible from your taxes.
Capital gain exclusion
If you lived in your house for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains.
For more information about buying a home read here.
Disclaimer: Please consult with a Tax attorney or specialist. Real estate agents cannot give tax advice.