How can I improve the value of my property?The biggest factor outside of a homeowner’s control is market conditions. But other issues -- including the condition of the property, specific home improvements and neighborhood stability and safety -- can influence property values.
The greatest rise in home prices occurs when the economy is strong and the number of home sales is increasing. Though markets vary, that has occurred several times in recent history -- including the early 1970s, late 1980s and late 1990s.
Specific home improvements can increase the value above the cost of the improvements.
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Contact Information
Courtney Atkinson Century 21 Foothills - Atkinson & Associates 204 - 515 7 St S Lethbridge, AB, T1J 2G8
Cell: 403.795.7777
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When is a negative-amortization loan a good idea? |
When is a negative-amortization loan a good idea?
Experts don't agree on this question. Negative amortization is less likely to occur in rapidly appreciating markets. In markets where prices are stable or dropping, it is possible to end up with a loan balance that is higher than the market value of your home.
Adjustable rate mortgages with payment caps and negative amortization are usually reamortized at some point so that the remaining loan balance can be fully paid off during the term of the loan. This could necessitate a substantial increase in the monthly payment.
Most ARMs have a limit on the amount of negative amortization allowed,
usually 110 to 125 percent of the original loan amount. If the loan
balance exceeds this amount, the borrower has to start paying off the
excess.
Negative amortization can be avoided by paying the additional interest
owed monthly. ARMs that don't have payment caps usually don't have
negative amortization.
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