If you're like most folks with a mortgage, you'll be getting a tax form soon from your mortgage lender after the first of the year indicating several things, including how much interest you paid in 2019 and the current balance on your mortgage.
So it's a good time to talk about equity. Remember, equity is the difference between the fair market value of your home and what you still owe on the mortgage. If you sell, equity is what you receive after any liens against the property or other required costs are paid. It represents the part of the property you really own.
Two things have happened that could have had a positive impact on your equity:
If you've made the decision to buy a home or sell yours, the next step is hiring a Roanoke-area Realtor to represent you. After all, this is possibly the largest single transaction you'll make in your life. You need expert, professional guidance to ensure a smooth closing.
But with hundreds of Realtors in the Roanoke Valley, how do you choose?
Well, if you're selling, head on over to my blog post that outlines 4 questions to ask a listi...
Investing in commercial real estate in the Roanoke Valley or near Smith Mountain Lake can be an extremely lucrative move, but deciding which type of property to invest in can be confusing. By getting a deeper understanding of all your options, you can make an informed decision that minimizes risk and maximizes your return. The following are the most common types of commercial real estate options for investors:
Office space
Office buildings fall into two general categories: urban and suburban. Urban offices are often tall buildings or skyscrapers located in core sectors of a city, while most suburban offices are smaller buildings often grouped into office parks. Offices are grouped into four different classes:
It can be a difficult act to juggle selling your current house and buying a new house at the same time. In a perfect world, you'd sell your current house first before you buy a new one, but the fast-paced nature of today's real estate market can make this difficult.
Still, there are options to help you navigate this tricky transition, and if your Realtor knows your needs, he or she can help you decide which tactics are in your best interest.
Buying with a sale and settlement contingency
A sale and settlement contingency works along the lines of: "My offer for the new house is only good when I have sold my current house."
Because your offer will only be valid if you are able to sell your current home, sellers can sometimes be unreceptive to this type of dea, parti...
When you put your home on the market, you need to get the price just right. If you price your home too low, you will be flooded with offers, but you will be giving up thousands of dollars in potential profit. If you price your home too high, you could score a profitable sale — or you could watch your home sit unsold for months.
If you've listed your home but it's not selling, talk to your listing agent about the price. These are some signs the current list price...
