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November 19, 2006
10 Tips on Choosing A Neighborhood
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10 Tips on Choosing A Neighborhood
© Jeff Hoffman- All Rights reserved
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Where you live is as important as the house you live in.
Tip #1: Commute: Do I need a quick commute to work? Keep in mind short commutes limit your neighborhood options.
Tip #2: My personality: Do I prefer country, suburban or urban living?
Tip #3: Family: Is a certain school district important to me? Do I need to live near my elderly parents?
Tip #4: Downtime: Do I want to live close to my church or temple or have a short commute to night school?
Tip #5: Future zoning and development: Is the park behind my house going to be developed in the future? Does this small town have plans to build a mega-shopping mall?
Tip #6: Neighborhood age: What will a new neighborhood look like in 10 years? Am I satisfied with an older neighborhood, knowing it may not change much?
Tip #7: Time of day: Does the neighborhood feel the same at night as it does during the day? Is weekend traffic heavier than during the weekday?
Tip #8: Extra costs: Can I afford the county or city taxes or any homeowners' association fees?
Tip #9: Homeowners' Associations: What are the homeowners' association rules? Are they good for protecting home values?
Tip #10: Neighborhood investment: Have the homes in this neighborhood held or increased in value?
Using these ten tips as a guide will help you avoid the mistake of buying wrong home for the wrong reasons.
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Posted by Jeff at 7:12 AM | Comments (0) | TrackBack
November 9, 2006
Delinquency Rate Soars on Riskiest Loans
Residential loans to the riskiest borrowers are sinking into delinquency 50 percent faster in 2006 than last year, according to UBS Securities.
UBS, one of the top 10 underwriters of mortgage bonds, says 2006 subprime loans that are delinquent more than 60 days rose to 2.4 percent after six months, compared with 1.6 percent for loans originated last year.
Subprime mortgage bonds, sold on Wall Street as "home-equity asset-backed securities," have nearly doubled since 2002 to $565 billion outstanding.
Second-lien loans and mortgages with a high loan-to-value level also are deteriorating faster this year than they did last year, according to the analysts.
Source: Reuters News, Al Yoon (11/08/2006)
Posted by Jeff at 6:16 PM | Comments (0) | TrackBack
