Thinking of Buying on Martha's Vineyard?

Experienced buyer’s agents know that there is more to getting a great deal than just buying at the lowest price. Remember that no one can predict when the lowest price will occur and by the time you realize that it has happened, it is going up. Then you will be competing with everyone who was also waiting for the bottom. Reports from across the country are showing that various markets are beginning to recover and numbers of sales are increasing.
Mortgage rates play a large part in the overall price of your purchase. Remember, as prices go down, the interest rate usually goes up. A lower interest rate gives you more buying power. For instance, if you buy a house for $400,000 with a 10% deposit*, a mortgage of $360,000 would cost approximately $1950. per month. However, if you wait until mortgage rates go back up to 6.25% that payment becomes $2225. per month – an increase of about $250 per month. *Private mortgage insurance is usually about .01650% ($5940[partly refundable]) added to the mortgage amount would result in a premium of $147 until your LTV drops to 80% or more. The your payment would end and you would receive a refund on the balance of the PMI.
Look at the difference in what you can purchase. What are you buying? Are you buying a home that you can move right into? Or are you buying a home that will need either your manual labor or someone else’s (more expensive of course) for the next several years to bring it up to a livable condition? HOW MUCH REPAIR WILL THE HOUSE NEED? And can those additional dollars be mortgaged? Now we have other theories to evaluate and research to do.
These are all questions that you might not think to ask on your own. A buyer’s agent will help you think of the things that will be important to the purchase and occupancy of your home. For an exercise – on your own or responding to this article, pick a home from www.carolinetaylorproperties.com . Then, please outline the steps that you think it will take to purchase that home. I’ll give you the full process in another article in about 1 week.

Are You Afraid to Buy?

The number one reason why people are afraid to buy now is the uncertainty in the economy. Yes, all indicators are that we are in a particularly downward time in our economy -- job layoffs, bank and auto industry bailouts are a mess. I think that the media can frighten us into reacting and not moving forward with our own plans for the future.

However, this is the time that the qualified buyer has the power to purchase whatever he wants. We have the lowest mortgage rates in history, prices have dropped to 2002 prices and banks have money to lend. SELLERS ARE MOTIVATED. A first home or a vacation home is an investment in your future. What does the buyer need to do so?
1. Excellent credit and income sufficient to pay the mortgage.
2. A deposit, equity in another home, or stock or bond certificates to trade.
3. Contact http://www.carolinetaylorproperties.com/ to begin your search for the best property for you.

Winter is home improvement time! Do you have a paint job in mind?

This guide can be a helpful way to brighten your spirits. Just remember if you plan to sell your home, don't come on too strong! Just a hint of color in a neutral paint can make a big difference in the feeling of your house.

Warm colors, like red, orange and yellow, evoke images associated with heat, such as sunlight and fire. Cool colors, such as blue, green and violet, are associated with landscapes and the ocean. The experts say knowing how colors affect you can help you determine which colors are best for your home. Research has shown that color can affect your mood, appetite and energy.

Red produces feelings of energy, passion and intimacy. It can raise your heart rate and blood pressure. Because it also stimulates the appetite, it’s a good choice for dining rooms.

Orange also warms a room but with less drama. It’s more friendly and welcoming than its fiery cousin. Orange works well in living rooms and family rooms as well as children’s bedrooms.

Yellow grabs attention and can lift one’s mood. It helps light up a poorly lit foyer or hallway. But yellow that is too bright or too strong can also create anxiety in infants, young children or the elderly.

Blue soothes and relaxes, so it’s an ideal bedroom color choice for adults and children. It also suppresses the appetite, which is why you’ll rarely see it in the kitchen or dining room.

Green is often associated with nature and is at home anywhere in the house. Light greens work well in baths and living rooms, and mid-range greens are a great accent for kitchens and dining rooms.

Violet gets a favorable response from children, but not from adults. Children’s bedrooms and play areas may be the best places to experiment with this color family.