Askins & Associates | Nationwide Commercial & Residential Lending Services

What to Look for in a Good Investment Property

admin — Wed, 11 Nov 2009 04:17:35 +0000

How to Know What to Look For in a Good Investment Property

There may be many different reasons why a person decides to start investing in real estate, so there are various factors that are going to come into play when it comes time to determine the right investment property for them. Two of the main types of property, commercial and residential, are going to have their own reasons why or why not they would make a good investment property. Combined with what the investor has in mind, will be how the decision is made…

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Which Home Improvements Pay Off?

admin — Wed, 11 Nov 2009 04:15:05 +0000

Generally speaking, there are two ways to go about making home improvements. Either you splurge for something purely for the sybaritic pleasure of having it — the Italian marble bathroom you’ve dreamed about; that skylight that your spouse has been hinting at for the last six years — or you take a pragmatic approach, buying an energy-efficient furnace or repairing a leaky roof because you want to increase your home’s market value.

Don’t expect to score on both counts. “Just because you pour $20,000 into your home doesn’t mean that your house is worth $20,000 more,” says Frank Dell’Accio, a real-estate broker in Lindenhurst, N.Y. “I had a guy who invested $100,000 in a $130,000 home after he lived there for four years. He put it on the market at $225,000. He was offered $170,000.” His mistake: spending money on amenities that were only peripheral to the value of the house. “He wanted phones in the bathroom,” says Dell’Accio, “but [who else is] going to pay for them?”

Exactly how much you’ll recoup in costs depends on several factors…

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Top Ten Things to Know if You’re Interested in a Reverse Mortgage

admin — Wed, 11 Nov 2009 04:09:55 +0000

Reverse mortgages are becoming popular in America. HUD’s Federal Housing Administration (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive free information about reverse mortgages in general by calling AARP toll free at (800) 209-8085. Since your home is probably your largest single investment, it’s smart to know more about reverse mortgages, and decide if one is right for you…

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