The following graph illustrates the importance of pricing a home when you sell. I don't know who created it, but, the information provided in the graph is timeless. I have seen it happen time and again.The graph explains the percentage of buyers who will buy your house based on the asking price vs. market value.
For example, I currently have clients who are searching for a home with specific criteria in a determined price range. Their criteria is four bedrooms, two baths and room for an office, with a price range between $150,000. and $175,000., in a particular area of town. They are from out of town, so I search every home online and send to them.
The answer really depends on your personal objective and time frame.The longer you plan to live in a home, the more sense it makes to own. While I can't simply answer the question for you, I have found this cool tool which can assist you in evaluating the costs involved for both options.
By inserting a few details you can determine how long it would take to break even, depending on down payment, interest rate and costs to buy. You can also utilize the advanced settings to include more specific costs and deductions.
This is simply a 'numbers' tool and does not consider other intangibles associated with owning your own home.
Are you looking for a home in an established neighborhood in Indianapolis? Welcome to the community of Chapel Glen in Wayne Township!
Chapel Glen is a long time favorite of buyers searching for homes on Indianapolis' west side. You'll enjoy the beauty of nature everyday living in this community. Situated on tree lined streets, the homes in Chapel Glen are meticulously maintained, as is the community grounds.
The community amenities include walking trails, a park, playground, basketball court, tennis court, swimming pool and public school.
Come out and see for yourself the reason this neighborhood has remained a favorite. The homes currently available include brick ranches, two-story...
Recent phone calls and requests about property listings in Indianapolis from buyers around the country prove the real estate market in Indy has piqued the interest of investors.
Some have expressed an interest in foreclosed and bank owned homes, while others are looking at anything which is a deal. There are many cities around the country with a higher inventory of foreclosure and bank owned properties than Indianapolis. So, why are investors looking at Indianapolis for their investments? It's all about price! Indianapolis has the lowest priced homes in the nation for a city our size.
Let's look at a few statistics:
There are currently 21258 properties for sale in the Indianapolis area.
7146 of these properties are listed for less than $100,000. The number equals 33.6% of all active properties available.
Posted By Paula Henry on Sunday, March 09, 2008 4:08:00 AM | 2 Comments
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Loan-to-value is a math formula that represents the relationship between how much a home is 'worth' and how much money is borrowed against it.
Loan-to-value is often abbreviated as 'LTV' and is one of the many factors that lenders consider when underwriting a mortgage application. The math formula is straightforward:
In the LTV equation, Loan Size is the amount of money borrowed from the bank and Home Value is the lower of the home's purchase price or appraised value.
Home loans with low loan-to-value ratios are usually less risky for banks. This is one reason why mortgage rates tend to be more favorable for home buyers and homeowners when their respective LTVs are low.
Typically, a 'low' LTV loan is one in which the loan-to-value is 80 percent or less. In some instances, however, 70 percent is considered 'low'. The cut-off point depends on the mortgage lender and the mortgage product.