Home Buyer Information

There are currently 15 blog entries related to this category.

Opportunity Zones in Real Estate

Are Opportunity Zones the talk of the town in your local Real Estate circles? No?

While it’s no surprise that this part of the tax code is not yet well known, many savvy investors are jumping at the opportunity of the tax savings that it can provide.

What is an Opportunity Zone?

According to the IRS.gov website, “An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment….”

These opportunity zones were designated through coordinated efforts between State and local governments in identifying these economically-distressed areas.

Opportunity zones were added to President Trump’s “Tax Cuts and Jobs Act” in December 2017. Specifically the

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Moving to a new neighborhood brings with it a long list of questions. What are the neighbors like? Are there kids in the area? It is safe? What are the best places to shop?

Once you’ve made the decision to relocate, these questions and more are bound to arise. Many questions can be answered by your Realtor or your contractor, but information on others may be less forthcoming. As realtors are bound by an oath that upholds fair housing and non-discriminatory practices, there are certain questions they just cannot answer. So, issues like churches in the area or the demographics of your neighbors are simply off-limits. 

The Fair Housing Act: why your Realtor can’t always tell you what you want to know

What a Realtor can and cannot disclose is

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And the biggest piece of reader advice: 'Listen to your real estate agent!'

Key Takeaways

  • We asked Inman readers about the biggest mistakes they've seen first-time homebuyers make.
  • These were the top three: not talking to a lender first, waiting too long to make an offer and offering too little for properties.
  • The resounding piece of advice readers offered was: "Listen to your agent!"
As with many things in 2016, the housing market has been plagued with various issues: plummeting inventory, skyrocketing home prices and affordability problems that are keeping some buyers still. However, the National Association of Realtors’ September existing-home sales report revealed a promising silver lining — first-time homebuyers.

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Properties coming to the market are being priced at record highs. Experts watching the economy state that these prices are not indicators of another market crash on the horizon. The term “housing bubble” is a scary one, but that is not what is happening today.

CoreLogic reports that two times as many urban markets are overvalued. This means that prices are inflated compared to the incomes of people looking to buy in these areas. This is a comparison between the second and first quarter numbers of this year. The values on these homes are not expected to fall anytime soon, which is the opposite of what a bubble is. Bubbles eventually burst. These home prices are high because there is limited inventory in desirable areas. Not because of sketchy selling

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327 Royal Palm Condos in Boca Raton, FLSales began today at the opening of the sales center for 327 Royal Palm, the latest addition to Boca Raton's luxury residential market, featuring exquisitely appointed residences that combine contemporary architecture, amenities and location to suit a vibrant lifestyle. The project and sales center are located at 327 East Royal Palm Road, Boca Raton, FL 33432.

Located within walking distance to Boca Raton's best restaurants, shopping and beaches, 327 Royal Palm will feature expansive 3-bedroom plus den residences ranging from 3,177 to 3,500 square feet, designer Italian kitchens with premium Sub-Zero and Wolf appliances, and an access-controlled private elevator entry into each apartment.

Group P6, the project's real estate developer, hired renowned

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New listing for sale in Boynton Beach, FLBeautifully upgraded lakefront home in the heart of Boynton Beach, Florida!  This home has been completely redone from top to bottom with the most exquisite finishes throughout!  The oversized lot sits on a private and serene lakefront location with views of the sparkling blue water and the fairways on the Westchester Country Club golf course in the distance.  

The home features bamboo wood flooring throughout, hurricane impact resistant glass, a new roof in 2008, brand new air conditioning units, and a drop-dead gorgeous kitchen with unique granite countertops, Italian cabinetry, and top-of-the-line stainless steel appliances. Both bathrooms feature solid surface countertops and seamless glass enclosed showers with marble flooring.  The spacious

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A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1.  Know thyself.

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2.  Research before you look.

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four

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According to Freddie Mac's latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection:

"We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007."

And their optimism was seconded by both the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).

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Understanding Real Estate Closing Costs and ProrationsIt's very common to see a purchase contract with provisions for prorations. This type of contract should be read closely and you should understand the prorations before signing. It may even be necessary to request a change to the verbiage used for the prorations.

Most of the time, the buyers are the ones responsible for the prorations. These changes will often show up as a debit on the closing statement for the buyer and will be a credit on the sellers closing statement.

Prorations usually increase the net profits of the seller and they cover items which were prepaid by the seller for a time when the seller won't own the property.

Prorations for Mortgage Interest

Sometimes, you will need to understand what the mortgage interest

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