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Should I buy a home now or wait in case home prices drops more?


Tue, Dec 28th, 2010
Posted in Ask the Expert

Many opportunities will come from this market for the buyers that step in and take advantage. You have to live somewhere and in this market owning can actually be the same or cheaper than renting.

Here are six good reasons to make your move now:

  1) You can get a great deal - Will prices fall further? Sure they could. It's difficult to predict the bottom. IF you think prices will drop another 5%, simply make your offer 5% less today. Sellers want to know what buyers are thinking. Lower home prices give buyers the opportunity to get more for their money.

  2) Historically Low Interest rates - lowest on record since 1971. If inflation picks up, you won't see these mortgage rates again in your lifetime! If they drop, simply refinance to the lower rate. Low rates give buyers more purchase power.

For example: $100,000 at 4.83% / 30 yrs is approx $526 PI payment monthly

$100,000 at 6.5% / 30 yrs is approx $632 PI monthly

  In order to keep the same house payment of $526 monthly when interest is 6.5% the buyer would have to drop his purchase price to $83,500 more than likely getting less home for the money.

  3) Income Tax Deduction -Mortgage Interest & your property real estate tax is deductible

  4) Inflation Protection - a fixed rate loan locks your payment amount for the life of the loan, offering protection from inflating interest rates and out of control payments.

  6) Equity /Savings - Real estate is the most important investment most of us will make in our lifetime. IF you are not selling in this market than you will not loose anything, stay put, make your payments and ride out the storm; wait for the market to recover. Nothing is lost unless you bail. If you are purchasing now, your gain will be the low pricing, the low interest rates and time is on your side.

Nothing ventured, Nothing Gained, The only thing lost is opportunity.

Question: Is online advertising a good way to promote my business?

Wed, Dec 8th, 2010
Posted in Ask the Expert

Answer: Yes, it can be a good method for marketing and a fantastic way to build up referring site traffic, which will increase your organic rank in search engines. The key is to make sure you have a chance to evaluate website traffic statistics befor ..... 
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My heater isn't putting out much hot air. What's wrong?

Wed, Dec 8th, 2010
Posted in Ask the Expert

It could be any of a number of problems. A heater that's working properly should blow air that's about 75-100 degrees F. hotter than the outside air. If it doesn't, any of the following might be at fault:

* A low coolant level, often due to a ..... 
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How do I know if my horse has dental problems?

Wed, Dec 8th, 2010
Posted in Ask the Expert

Horses with dental disease may show signs such as pain or irritation around their head. But, other horses may not show signs at all because they simply learn to live with the pain.

 If a horse starts acting differently, dental problems ..... 
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I keep hearing the estate tax won't change for next year. What's going on?

Wed, Dec 8th, 2010
Posted in Ask the Expert

There are two types of estate tax, state and federal. In Minnesota, estate tax is imposed on estates exceeding $1 million. Taxable estates include all property, even property not transferred by a will, including life insurance and retirement benefits ..... 
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How much money can I save by using cloth?

Wed, Dec 8th, 2010
Posted in Ask the Expert

According to the Real Diaper Association (www.realdiaperassociation.org), it will cost an average of $1600 to diaper a child from birth to age two using disposable diapers.

 In comparison, the cost to use pre-fold diapers and covers from ..... 
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STEPS TO HOME OWNERSHIP

Wed, Dec 8th, 2010
Posted in Ask the Expert

GET A REALTOR - Buying and selling real estate is a complex matter. It may seem that you can find the right home at the right price by simply checking local papers, picture books or online sites. A basic rule in real estate is that all properties are ..... 
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Q: Is this the time to lock in rates for as long as possible when purchasing farm real estate?

Wed, Dec 8th, 2010
Posted in Ask the Expert

A: After living through the high interest rates of the 80's, when rates are low, it is hard not to lock in a rate for as long as possible. The peace of mind that the rate and the payment cannot increase can be the determining factor. There are other ..... 
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