Tag Archives: real estate

Broker presenting the contract to clients

Buying Real Estate: Understanding the Quitclaim Deed

Broker presenting the contract to clientsA deed is required when transferring real estate property, and one common kind of deed is called the quitclaim deed. But a quitclaim deed isn’t appropriate for all situations since it doesn’t provide sufficient security for buyers. It is, however, practical in certain situations like when transferring real estate between trusted family members.

What Exactly is a Quitclaim Deed?

To better understand how a quitclaim deed works, you need to learn how a general warranty deed works. The general warranty deed is that’s usually for certifying a title’s clean state, meaning that it guarantees that the individual who’s transferring the title to you is indeed the property’s owner and is legally entitled to transfer it to you. With this kind of deed, no one except the grantor or seller could claim ownership of the property. This deed likewise guarantees that the property has no liens or debts and provides you warranty or protection against these things.

On the other hand, you get no such warranties with a quitclaim deed since all a quitclaim deed does is transfer any of the grantor or seller’s interest in the property to you. It doesn’t guarantee that there are other owners who could claim the property as theirs. You also won’t be protected against liens or debts on the property. Do note though that a quitclaim deed doesn’t affect mortgage payments since it would only transfer the title of the property so if the property is still under a mortgage, the seller would still be liable for the payments, explains a mortgage broker from VIP Mortgage in Phoenix.

Main Takeaways

A quitclaim deed is basically a way for transferring property from the owner or grantor to another individual, usually a buyer. When a grantor issues the deed to a buyer, there’s no guarantee that the buyer would be protected against issues with the title of the property such as liens or debts.

It’s best that you only accept a quitclaim deed from family members or someone you really trust. Also, quitclaim deeds could be useful for correcting title errors or changing names indicated in the title without involving money.

The Different Types of Mortgage Rates

applying for mortgageDifferent people have diverse needs. Since mortgages are designed to meet people’s needs, they are packaged differently, each trying to meet various needs. This suggests that mortgage rates are not standard.

If you consult with a mortgage lender in Portland, you will know that borrowers with high credit scores often get lower rates. Depending on the type of loan you want, mortgage rates will vary.

Conventional mortgage rates

Mortgages by either Freddie Mac or Fannie Mae are referred to as traditional mortgages. Their securities control the prices so that the Fannie Mae rates will depend on their bonds, for instance. The most common program here is the 30-year fixed-rate in which home buyers make a 20% down payment. Bundled with the Freddie Mac and the Fannie Mae are loans like HARP refinance, Delayed Financing, and HomeReady loan.

FHA interest rates

These are rates for Federal Housing Administration-based insurance. Available all over the U.S., these loans are most preferred by home buyers who want a low down payment. The FHA requires just 3.5% as down payment. The rates are determined by the GNMA (Government National Mortgage Association) bonds. When these rates go up, the FHA loan rates drop.

VA interest rates

Also controlled by the GNMA mortgage-backed bonds, these rates tend to work alongside the FHA rates although they are often lower. When the Department of Veterans Affairs guarantees a loan, the recipients use these standards. U.S. veterans get 100% financing without the need for mortgage insurance.

The government also controls USDA interest rates, which are for borrowers in the suburban and rural areas all over the country. They are guaranteed by the government, which allows you to enjoy a rates discount. Whatever the case though, mortgage rates will be unpredictable. However, if you know them, you at least stand a better chance to get the lowest rates possible.

Mortgage Loans Dos and Don’ts: The Home Buyer’s Guide to Getting Approval

man wearing a suit sitting in a table showing a mortgage loan contract and where the signer must signBuying your first home can be horrifying. With all the paperwork, the potential rejections that you will encounter, and the fact that this will probably be the biggest purchase of your life, you would quickly assume that this process isn’t for the faint-hearted.

Suppose you have great credit and no history of bankruptcy on your record, there are a few tricks you can use to boost your odds of getting approval. Here are some dos and don’ts to secure a loan as recommended by American Loans, a top mortgage company in Salt Lake City:

DO save for a down payment early.

Usually, lenders would ask a down payment of 20 percent, but there are also lenders with programs that would go for as low as three percent. However, these programs would equate to higher costs and insurance. Saving up early would help you get the approval and save on extra fees.

DON’T forget to check your credit score.

Your credit will determine the interest rate and your loan terms. Before you begin this process, don’t forget to check your credit. If there are errors that you need to discuss, do it early. In addition, look for opportunities to improve your credit.

DO compare mortgage options.

You will find yourself bombarded with a lot of loan programs, that’s why it is good to do research which ones will be perfect for you. Check if you can afford large monthly payments right now, or if you can afford to do so in the future, this information would determine which program you should be going for.

DO get a preapproval letter.

Getting prequalified would just mean knowing the amount the lender can give you based on the information that you have. It’s smart to get preapproved. It can help you look more credible to sellers and even give you an advantage.

If anything goes downhill, let it be the push for you to work on your credit and finances the next time. Look for the things that you didn’t see the last time. You can find other people you have been rejected multiple times but got a house in the end. All you have to do is to start a plan and work hard for it.

Renting Is Better Than Buying

A house model and a pair of keys on top of a contract There is an ongoing debate on whether it is better to rent a home or buy one. Buying a home involves a mortgage payment, a down payment, regular maintenance and much more. This is one the reasons people prefer to rent a home for their family.

However, we have seen that there are people who strongly believe in investing in all types of real estate including Section 8 investing, which is considered to offer good returns. But there are some of us who do not want to lock up money in a home and prefer to rent. Here are some reasons why renting is preferred.

Financial comforts

Most young adults who are under-employed or young couples just starting out in their careers and family prefer to rent a home. They do not have the large amount of money required for a down payment for a home or prefer not to lock up a large amount of money in a home. They are also not ready to make a financial commitment to mortgage payment, taxes, and the like. This type of financial comfort is possible with just renting a home of your choice.


The responsibilities of a home are on the plate of your landlord and as a tenant, you do not have these responsibilities. If anything breaks, falls apart or cracks in the home, you need not take the trouble of fixing it, as the onus is on the landlord to maintain the home. However, this does not mean that you can go around causing destruction around the rented home. But the maintenance and upkeep of the home is the responsibility of the landlord.


Rentals offer flexibility, especially if you travel a lot and lead a nomadic existence. If you rent a home, you have the option of moving out when the lease expires and move on to better location or a bigger accommodation. Some not-so-young people can also have the flexibility to move from rentals to buying their own home, if they are at that stage in their lives.

Thus it is clear that renting comes with a lot of advantages and less of responsibilities.

The 2017 Spring Guide for Homebuyers

Home being sold Spring is fast approaching, and ‘tis the season of frantic home buying. Do you plan to buy your first home in the coming spring? You better prepare in the final days of winter as you face fierce competition in the housing market. Not to worry, though, as you can consult this guide to help in your preparations.

Step 1: Find an Agent

Team up with a real estate agent. They may be someone you worked with in the past or a referral by family or friends. You can also base your choice on their negotiating skills, time availability, and specialization. An agent can help you start the home shopping process while business is slow during winter. You can even learn upcoming spring property sales through your agent.

Step 2: Get Help from a Mortgage Planner

Besides an agent, you can also hire a mortgage planner. They can help you find the right mortgage loan with the best mortgage rates here in Salt Lake City and assist you with the whole financial process, so you can make informed decisions. With their help, you can save money in the long run.

Step 3: Visit Houses and Neighborhoods

Now, as you will be able to lock down on the best financing plan through a mortgage planner, you can start visiting homes to understand what you want out of a home purchase. You can look for open houses during winter that you can visit. At the same time, you can start analyzing neighborhoods that you like if they will fit your family and your lifestyle.

Step 4: Be Open to Early Purchases

Have you found a home you love? Are you willing to move at a moment’s notice? You can definitely purchase a home earlier than intended. Winter home buying can mean less competition and multiple offers on a single home. You can use these details to your advantage.

With these guidelines, you can easily find and purchase a home that you love by the time spring comes.

Leveraging Your Money in Real Estate

Funds Leveraging in Real EstateInvesting in real estate is one of the best ways to achieve financial freedom. It can take a lot of money to go into real estate. However, done right, you may not need to risk much of your personal or investment funds to get started.

Capital Gains and Passive Income

There are fundamentally two ways to earn in real estate and neither is mutually exclusive.

The first method is flipping houses — popularized by various reality TV shows. The idea is to purchase a house that’s undervalued or in need of repairs, fix it up, then turn around and sell it for a profit as soon as you can. This profit is called capital gains.

The second method is property rentals. A property, whether you still need to fix it up or buy it new, is purchased then leased or rented out. As long as the rental amount is higher than the mortgage and other expenses, whatever is left over is your profit. This is classified as passive income and is the easiest way to shelter your income from taxes. An important distinction between the two is that with rental real estate, you don’t have to sell your property to realize a gain.

Further Investment

Most real estate investors sell properties to invest in bigger projects. One way to deal with this is through mortgage refinancing. A property in Salt Lake City, for example, has increased in value, either through improvements, appreciation, or if you’ve paid down the original mortgage to have a substantial equity in it. You can then opt to take a mortgage refinance on it. As long the amortization of the new loan does not exceed the rental income, you can use the proceeds of your refinance to invest in other properties.

Get Help

Whether or not you are new to the business, these types of options should be duly discussed with the appropriate adviser. Financial matters, especially when it comes to taxes, can be tricky. Don’t jeopardize your investment by making costly mistakes.

Real Estate Property: To Invest or Not to Invest?

Property Investment in Salt Lake CityThe worst decision you could make in personal investments is to put all your eggs in one basket or to invest all your resources in a single investment vehicle. Imagine yourself zeroing in on stocks. If you invest solely on stocks, a significant drop in the stock market could put you in hot water. To put mitigate risks and improve ROI, consider investing in different asset classes. Have you thought about real estate property investments?

Investing in real estate with the help of a reliable mortgage company in Salt Lake City such as citycreekmortgage.com is seen positively due to the numerous advantages that come with it. Read on to find out more about them:

Steady and Reliable Income

As soon as you have acquired the property you are eyeing, it is relatively easy to put it up for lease. You can earn a steady income by renting out your property. Make sure though that the property is lease-ready; meaning, water, electricity and plumbing are fully-functional.

Asset Appreciation

Another great thing with real estate investments is that the value of the property appreciates – or increases – over time. A note of caution, though. Be mindful of the location of the real estate you're eyeing prior to making the actual purchase, Seek help from a trusted mortgage company in Salt Lake City to help you out. Remember, it might be difficult for property value to go up if the location of your property is not favorable.

Easy Asset Management

As compared to other types of assets, real estate property is easier to manage. You can breeze through the entire management process because it is very low-key, unless you want to renovate the property or have it redecorated. In contrast, stocks and mutual funds require thorough technical expertise and constant investment decisions to ensure a profitable ROI.

While there are property taxes and maintenance costs required when investing in real estate, the benefits of acquiring one are also quite evident. Your decision to give property investments a final go depends on how you weigh the advantages over the disadvantages. Good luck!

3 Reasons Real Estate Companies Should Invest in Online Videos

Online VideosMuch has been said about the value of text-based content real estate marketing, but not a lot about videos. A video lets you to send your message across in ways paragraphs sometimes can’t. Watching you discuss what you bring to the table in clips, rather than letting your clients read them line after line, creates a more personal experience. Suddenly, your practice is no longer faceless property firm on the Internet because of the videos.

This is why experienced videographer companies are in high demand these days. From an SEO standpoint, platinumhd.tv noted that producing video clips opens a world of possibilities to rank your pages above the fold and make your website more visible to your target audience. Especially if you cater your services in hot market, this technique could move the needle and make your practice stand above the rest in the SERPs.

Here are some irreplaceable SEO benefits of online videos:

Videos Get Ranked (High & Many Times)

YouTube videos tend to dominate the top of the search results when properly optimized, from titles to transcriptions, all elements should have a strategic keyword. Apart from Google, which owns YouTube, uploading your clips to other video-searching websites help increase your web presence. While you don’t necessarily get traffic by leading visitors to hosting sites, it certainly expands your reach.

Videos Induce Clicks

Thumbnails are more powerful than text-only snippets when it comes to generating higher click-through-rate. According to aimClear, rich-video snippets gather 41% greater CTR than plain text in search results. If you’re goal is site traffic over web presence, embed your videos to your pages instead.

Videos Glue Visitors onto Your Page

If you have engaging text-only content but still incurs a high bounce rate, video clips are the cure. Maybe the one to blame is the dwindling attention span of Internet users, not the quality of writing. Videos can make your visitors stick longer because they’re less stressful to consume in front of a computer or mobile screen.

Videos are never meant to replace written pieces of content, but rather complement them. Refocusing your content creation strategy can make a world of difference in your real estate website’s digital marketing.

Retail Space Investment: Why Investing in Open Spaces is a Smart Choice

retail spaceAs a business owner, the devil is always in the details. While you may think that capital and what you’re selling should be your main focus, there’s another important detail that can make or break your business – the location.

Inviting retail spaces are an increasingly diminishing commodity in the Philippines, and you’ll be hard-pressed to find a site for your business that’s worth investing and sure to generate revenue by location alone. It should always be a priority, as your choice of retail space can drastically affect how your business operates.

Retail Space Trends

You may ask yourself: “But, if space is already a waning commodity, how do I know if the retail space I’m eyeing is the right fit for my business?” It’s important to understand that the trends in retail space are constantly changing – a few years ago, the standard retail district was an enclosed shopping mall.

This all changed at the end of the 90s when open spaces were found to be more practical and appealing for developers and shoppers, respectively. This ultimately reshaped the entire landscape of retail as a whole, and was instrumental in helping businesses carve a niche in an increasingly competitive market. The size of the retail store is no longer a problem, as more and more shopping malls are incorporating wide open spaces and green areas.

Current Trends and Your Business

Some are saying that malls will eventually go the way of the dinosaurs – extinct and a thing of the past. But, the Philippines has always held affection to the ubiquitous shopping center. Indeed, the fact that retail spaces are decreasing in size only solidifies the fact that space in the country is a very scarce commodity.

Do not let this dissuade you, though. Shopping centers in the country have evolved beyond simply being a place where you buy groceries and miscellaneous items. They’ve become plazas and parks, and the intrepid business owners have learned to adapt to this more open and accommodating environment to generate revenue.

The Square, in Lancaster New City, Cavite, is a good example of one of these new-age shopping centers. A strip mall, it’s designed with many outdoor spaces with just enough retail space for businesses. As it’s become more of a venue than a place to shop, this means more people are more likely to visit open retail districts than the traditional closed shopping malls.

When it comes to choosing the right retail space for your business, it’s a good idea to get in with the times. Instead of staking a claim in a cramped indoor shopping mall, what you should be investing in is retail space in a location with wide, open spaces and plenty of recreational venues.

real estate

Make an Offer Like a Pro

real estateWhen do you get a property valuation? Most people do so when lending institutions are financing a certain property or when they are selling a house. Other times, they get a property valuation before they make an offer on a property.

HelyandAssociates.com.au and other property valuers in Brisbane will help assess the current value of your property in an open and competitive real estate market. Before you consult with a property valuer, you need to make an offer on a property first.

A Process to Master

The process of making an offer varies per state. Across all areas, however, the process begins when you meet with an agent. They will ask you a series of questions to get a rough estimate of what you might have to pay for the property.

At this stage, your goal is to have a clear understanding of the process and get the agent to explain how they intend to make the offer. It is also important for you to research the property fully, along with other comparable properties sold in the area.

A Game of Anticipation

Making an offer is comparable to a game of chess. There are two sides and both parties are anticipating what the other is going to do or what move they are going to make. With that said, it is important to have basic information regarding your vendor’s motivation to sell, as well as their preferred settlement date.

There is no time limit when making offers so remember not to rush if you don’t have to. Take your time to research and gather as much information as you can to strengthen your offer. Don’t make the common mistake of being complacent and make an informed offer.

Although the process is comparable to a game of chess, like stated earlier, it would be wise not to play games and be upfront with the negotiation. Stick with smart moves and significant information for them to keep yourself informed about movement on the property.