What's New on American Home Guides

How Your Credit Score Affects Your Mortgage Payment

admin — Wed, 28 Oct 2009 19:07:25 +0000

If you are in the planning or shopping stage of the buying process you will want to read the latest article in our home mortgage section - the impact your credit score has on your mortgage payment. Knowing your credit score and how it will impact the interest rate of your home loan are bits of imformation that should be understood before you shop for a home or even talk to a real estate agent. To understand the impact of your credit score on a home loan and mortgage payment read the full article now.

One of the most rewarding accomplishments you can achieve is buying your own home. Knowing that all the rent you have been used to paying out can go into securing a home where you can settle in comfortably and raise a family. A place where your children are free to wake up every morning and know that it is their home and they will be there for a long time as they go through school, play with their friends, and experience all of the things they want to.

There is more to wanting to buy a house, though, than just the dream. Proper planning of your future to be in a position to buy a home requires a lot of dedication, responsible buying and lending habits, and a strong commitment to keeping your eye on the prize.

Read the full article here impact of your credit score on a home loan and mortgage payment.

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How Your Credit Score Affects Your Mortgage Payment

Basics of Refinancing a Home Mortgage

admin — Wed, 21 Oct 2009 21:01:47 +0000

If you look at it, refinancing is a new loan to pay for the old home loan and other loans. In the case of a home loan, refinancing offers the opportunity to switch to a lower interest rate; with your other loans, you get the advantage of bunching all your debts into one big loan to be paid with your refinance money.

Refinancing

Refinancing is simply swapping an old loan with a better loan using the same collateral as security. Refinancing is also another word for cash out (taking out the small increase in your mortgage amount in cash) or loan restructuring. Money wise, refinancing is a tool to help people get their finances in order, acquire assets, or reduce their loan term or loan amount because of lower interest rates.

Continue reading The Basics of Refinancing a Mortgage in our home mortgage section.

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Basics of Refinancing a Home Mortgage

Checklist for a Successful Move

admin — Fri, 18 Sep 2009 21:14:59 +0000

Whether you are moving across town or to another state, moving a household can be an experience full of frustration, irritation, and confusion. Trying to remember all of the things that need to be accomplished before, during, and after your move can be daunting and chances are that in the heat of the moment, some items that need to be accomplished will be forgotten. That is why it is a good idea to use a checklist for a successful move — and use it during the moving process. Here is a checklist can really help you stay organized and get things done!

Read Moving Checklist - Tips for a Succesful Move

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Checklist for a Successful Move

Rise in June New Home Sales is Good News for Builders

admin — Mon, 27 Jul 2009 15:50:39 +0000

An article in today’s New York Times reports New U.S. Home Sales Rise Sharply as Prices Fall. New home sales have now risen for three consecutive months and the 11 percent increase in June is much higher then had been predicted. The article points out the the recent uptick is a reversal of a three year trend in prices and sales.

Read the complete joint press release from HUD and the US Census Bureau NEW RESIDENTIAL SALES IN JUNE 2009

Do you think the new homes market has hit bottom and will continue to recover? Tell us what you think.

Post from: What's New on American Home Guides

Rise in June New Home Sales is Good News for Builders

How To Save Money On Your New Home

admin — Tue, 23 Jun 2009 16:30:42 +0000

Do you clip food coupons from your Sunday newspaper? Or do you take advantage of sales at your favorite department store? Then you will certainly appreciate BIG savings on the purchase of a new home!

Imagine clipping a coupon for a free swimming pool package; or $500 towards options; or a free washer or dryer. These and many more buying incentives are available online – and now you can easily find them on one web site.

When you visit HomePromotions.com you’ll find tons of great opportunities to save on a new home in your area. There are even special savings offers on homes that have just been built and are ready for immediate occupancy.

More and more builders are placing their Internet buying incentives on homepromotions.com. Why? Homes sold as a result of Internet advertising (which costs much, much less than newspaper advertising) represent much more profitable sales for the builder. So it makes sense for builders to offer incentives to Internet home buyers. It’s a good deal for them and a great deal for you!

Just visit HomePromotions.com and print out any of the coupons. Make sure to present the coupon on your first visit to the community. The builders will not accept them after the first visit since the coupons are intended to reward you for visiting the community as a result of finding them on the Internet.

Happy home hunting and enjoy your savings!

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How To Save Money On Your New Home

How to avoid buying bad real estate

admin — Fri, 19 Jun 2009 14:50:24 +0000

American Home Guides is full of useful home buying advise and tips. You can learn the tricks o the trade when it comes to buying a new home. Don’t miss out on the valuable advice waiting for you.

Ask any experienced residential real estate attorney about his or her most difficult case. The answer will probably involve a “bad house.” While not exactly a legal term, a bad house is one where the buyer alleges the seller knew about a serious structural defect, but failed to disclose it to the buyer before purchase.

Proving the seller knew of the undisclosed defect, which the buyer usually discovers shortly after the purchase, can be very difficult. Since it’s human nature to look for someone to blame, a home buyer usually looks first to their seller, then to the realty agent, and finally to the professional inspector if one was involved.

But buying a truly bad house can usually be avoided by following the correct steps. Even brand-new houses have their defects. A local building inspector’s approval is no guarantee. However, whether a new or resale house is involved, home buyers can minimize their chances of making a serious mistake.

HOME SELLER DISCLOSURES ARE NOT GUARANTEED ACCURATE. Many states now require home sellers to provide written disclosures of known defects. If the seller lied and failed to disclose a defect, which the buyer can prove the seller knew about, the seller is liable to the buyer for damages.

Incidentally, the easiest way to prove what the seller knew is usually to ask the neighbors. They often know as much about a neighboring house as the seller knew.

For example, shortly after I bought my current home, one of my neighbors came over to get acquainted. After a few pleasantries, he said, “I suppose the sellers told you about………………..

To read complete article, please visit AmericanHomeGuide.com

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How to avoid buying bad real estate

American Home Guides Makes Finding New Homes in Chicago, IL Easy

admin — Tue, 16 Jun 2009 17:42:23 +0000

Chicago, Illinois may have lost one resident to Washington, D.C., but there are plenty of people still looking to relocate to the “Windy City.” American home Guide has collected the most sought after properties in the Chicago area and complied them into a simple to use search database. Search for a new home in Chicago by selecting the criteria that matters most to you.

Its easy to do. Search by location. Get the right neighborhood. Browse popular Chicago neighborhoods like Aurora, Elgin, Lake Zurich, Oswgo, Woodstock, Zion and numerous other new home constrcuction communities in Chicago, IL.

Want even more choices? With a Rapid Request form American Home Guides, you can search homes for sale not only by their location but the type of home you desire, the price range you are looking in and when your desired move date is. Its so simple and easy that you get all the information sent to you. No need to do all the searching on your own, when everything is all listed right here. Now is the time to have American Home Guide find the home you have been looking for.

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American Home Guides Makes Finding New Homes in Chicago, IL Easy

Real Estate Market Trends Say “Buy Now!”

admin — Fri, 12 Jun 2009 19:26:22 +0000

American Home Guides has the best real estate listing across the United States. We also have the inside track on what the American Real Estate Market is Doing. AHG’s Mortgage section features an up to date look at today’s trends and why it is time to buy your new home.

The continuous drop in housing prices has kept buyers at bay, waiting for the market to hit the ground before investing. While there are never any guarantees with market trends, it is becoming increasingly apparent that there are trends suggesting now is the time to buy.

The American real estate market is finding rising home sales in most sectors of the country. Overall, April, 2009 saw the highest increase in seven months of home sales in the United States, according to Realty Times. This increase is reflected by a 6.7% increase in home sales across the US.

The Northeast up 33%, the Midwest up 10%, the West up 2%, and the one market showing no growth was the South which is down only .2%. Overall these factors indicate that an overall increase has started to register in home sales nationally. This also makes three months of increase.

Another factor indicating now is the time to buy is the fact that…………………………

To Read Complete Article, Please Visit AmericanHomeGuides.com

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Real Estate Market Trends Say “Buy Now!”

Common Myths About Working With Real Estate Agents

admin — Tue, 09 Jun 2009 14:20:31 +0000

Home Buying Myth Number 1

I’ll get the best deal on the house if I call the agent listed on the For Sale sign.

That agent represents the seller and is contractually bound to get the best deal for the seller. It doesn’t mean the agent can’t work with you in a fair and professional manner, but it does mean you should not disclose confidential information to the agent.

Bottom Line
If you tell a seller’s agent the top dollar you will pay for a house, the agent must pass that on to the seller. Take time to learn about agent duties and loyalties before you start home shopping.

Home Buying Myth Number 2

The agent told me I had to sign a Buyer Agency agreement before he would work with me, so I did, and now I’m unhappy with the relationship.

You might know you are a good match with an agent on the very first day you meet, but what if you aren’t sure? If an agent asks you to sign an agency agreement before you feel comfortable about it, try one of these alternatives:

Ask the agent to work under a verbal buyer agency agreement for a short time. Some states allow this, giving you time to become familiar with the agent before you sign a formal agreement.

Ask the agent to write a buyer agency agreement that covers a very short period, a day or a week.

Find out if the agent can offer a non-exclusive buyer agency agreement. The agent would be your buyer’s agent, but you would not be tied exclusively to her.

Let the agent continue to be a seller’s agent–just don’t disclose confidential information.
Bottom Line
If the agent will only work with you if you immediately sign a lengthy buyer agency agreement, you might be better off seeking another agent.

Home Buying Myth Number 3

I can find more homes for sale by calling lots of agents.

Maybe–but maybe not. If you are home shopping in a specific area, and the agencies belong to Multiple Listing Services, it means they all have access to the same properties.

Ask agents what areas they cover. Small-town agents might work a multi-county area. Agents in a city might restrict themselves to certain neighborhoods or subdivisions.

If you sign agreements with more than one buyer’s agent, make sure……………………………..

To read this complete article, Please visit American Home Guides.

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Common Myths About Working With Real Estate Agents

The Top 10 Ways to Improve Your Credit Score

admin — Fri, 05 Jun 2009 14:00:06 +0000

The ripples of a pebble on the water’s surface are evidence of its actions. The ruptured area radiates with proof of the rock’s exploits. Credit works in a similar manner. It radiates as proof of your financial actions entered into for all to see. It leaves a tide of effects on the surface of your financial future that can either help or hinder the home buying process. If your ripples mark the struggle to maintain a positive credit score, there are 10 ways to smooth out your credit in a relatively short amount of time.

1. Know your score

Check your credit reports from all three credit reporting agencies and make sure there are no inaccuracies or out-dated information listed. Ensure that all closed accounts are listed as such and the credit limit on your cards is reported correctly. Higher spending limits mean a higher rating for you.

2. Pay your bills on time

As obvious as this seems, late payments are the most common piece of negative information on a credit report. Make sure to pay at least the minimum payment each month to your mortgage, car loan or credit card account. Many card companies even offer automatic email reminders.

3. Keep credit card balances down

Though a high spending limit looks good on your credit profile, actually using more than 35% of it does not. Regardless of how high you can go and how devoutly you pay, try to keep those balances low.

4. Don’t close unused accounts

Credit history counts considerably towards your score and healthy, long-standing accounts are important. If you have credit cards you don’t use, put them out of reach and reap the benefits of a long-term relationship.

However, it is a good idea to use those cards every six months for a small purchase ($5 is plenty), because the credit card granter will often close your account if you have lengthy periods of inactivity. Mark a “Use all my credit cards to buy a candy bar” day on your calendar, and then be sure to pay the balance off right away. This will keep your accounts current and raise your credit score.

5. Only apply for needed credit

Resist the temptation of the 20% discount offer if you open a department store credit card. Unless it’s a big-ticket item that you’ll be paying over time, using existing cards for your purchases is a better idea. Remember that every time you apply for credit of any kind, an inquiry goes to one of the credit-reporting agencies and can stay on your report for as long as two years. Multiple inquiries in a short period can seriously reduce your score.

To read complete article, please visit AmericanHomeGuide.com

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The Top 10 Ways to Improve Your Credit Score