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Even in shaky times, real estate can offer a solid investment foundation
November 13, 2024
Real estate is for optimists, if the recent gains among real estate investment trusts is any indication.
As a group, U.S. REITs have risen 170 per cent from their lows in early 2009. Canadian REITs have done almost as well, rising more than 120 per cent. And neither of those returns factors in dividend payments.
The gains come as the ...
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Benefits of a fraction
September 28, 2024
Divide and conquer! No, that's not a misnomer. Fractional ownership is a way of gaining a luxury you cannot afford on your own. Why purchase an expensive resort home that you'll only use part of the year when you can own a fraction, enjoy the benefits and not worry about maintenance or housekeeping.
This is not the same as a time share. A time ...
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The 'Best Friend-Worst Enemy' Reverse Mortgage Quiz
September 16, 2024
Reverse mortgages are not as complex as the decisions that surround these financial and lifestyle wealth management tools.
When a reverse mortgage is the right solution, it is the only choice and, therefore, you must consider it your best friend.
When other approaches would suffice, a reverse mortgage may be an expensive worst enemy.
Here ...
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NINE LENDING FACTORS
September 14, 2024
Did you ever wonder what a lender looks at when determining the value of your home? A simple price per square foot doesn't always work. Many factors enter into properly pricing real estate with location being one of the top items.
These nine items will give you an idea of how a lender determines the value of a property and how much money the ...
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WHAT ABOUT YOU?
July 11, 2024
It's the unthinkable but losing your home to a disaster can and does happen every day. If you have a mortgage, you are required to have insurance. The mortgage company needs to make sure their investment is properly covered. But what about you? Is your coverage sufficient for your needs? Here are some of your choices:
Replacement Cost Insurance ...
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DEFINITION: ABSTRACT OF TITLE
June 28, 2024
Abstract of Title ~
A breakdown or summary of all public records having to do with the value of and the continuation of clear title to your property. Your title company usually has an 'abstractor' examine public documents pertaining to the land, such as liens, easements, mortgages or anything else that might have some effect on its value or ...
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APPRAISALS AND INSPECTIONS
June 25, 2024
An appraisal and a home inspection have some similarities. Both services ensure that your property will meet certain, basic criteria. However, they are two distinct functions in a real estate transaction.
Let's start with the appraisal. The appraisal assures the market value for the buyer and the lender. It is usually ordered and required by ...
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House-poor can easily turn to house-less
June 22, 2024
Our friends made a strategic decision almost three months ago: They went to a five-year fixed-rate mortgage from the floating rate they had been enjoying, one that carried an interest rate of just 1.25%, but had risen to 1.75%. They are now locked in at 3.74%, which is well below the bank posted rate of 6.25% and below the 4.25% floating rate they ...
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Extra payment to principal may not dent monthly payments
June 19, 2024
Many borrowers would like a mortgage on which the monthly payment would drop following a large payment to principal. They may have highly irregular income, or they may anticipate coming into a large sum of money from a bonus, bequest or insurance settlement.
Mortgages fall into four categories with regard to how responsive they are to this ...
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