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A Few No-Nos for First-Time Home Buyers

In a Zillow blog post, “First-Time Home Buyer? Here’s What Not to Do,” the staff of the financial website LearnVest offers some sound advice for first-time homeowners who are feeling the pressure to buy now while mortgage rates are low. While you definitely should take advantage of the mortgage if you can, LearnVest has three things you shouldn’t do in the process. 1. Don’t buy a house if you aren’t sure you’ll stay for long. Experts suggest buying based on a five-year forecast. In other words, you should make sure that you want to stay put for at leas...

March 11th, 2013 A Few No-Nos for First-Time Home Buyers

Home Values up 6.2% from Jan. 2012

Average national home values rose to $158,100 last month, up 0.7 percent from December and 6.2 percent from January 2012, according to the January Zillow Real Estate Market Reports. According to a Zillow blog post from Feb. 21, January marked the 15th consecutive month of home value gains. “The 6.2 percent annual gain is the largest since July 2006, when home values rose 7.5 percent year-over-year. The last time national home values were at this level was in June 2004,” the post reads. The continued rise in home values assures that less Americans will be underwater on their mortgages – o...

February 22nd, 2013 Home Values up 6.2% from Jan. 2012

Owning a home = Tax breaks!

For those who have yet to file their taxes for 2012, Zillow has a useful blog post by Mary Boone highlighting the tax breaks available to homeowners. It’s important to note you must file an itemized return to take advantage of the breaks, but the savings are well worth the extra work, or the extra money to hire an accountant. Click here to read Boone’s blog post and see the eight potential expenses you can write off, including property taxes, mortgage interest paid at settlement, mortgage insurance premiums and selling costs, to name a few!    

February 12th, 2013 Owning a home = Tax breaks!

What Buyers Should Know About Sellers

In his Zillow blog post “3 Things Home Buyers Should Know About Today’s Sellers,” Brendon Desimone explains that it’s important for buyers to understand the mindset of sellers to make the process easier on both parties. Desimone says there are three qualities that many sellers these days share: Many homeowners are in negative equity. According to Zillow, 28 percent of homeowners will a mortgage are underwater, meaning they owe more than the home is currently worth. Because of this, many, many sellers have put off selling their homes because they couldn’t afford to take a hit. Now tha...

January 30th, 2013 What Buyers Should Know About Sellers

Anticipated housing trends for 2013

In her MSN Real Estate article, “8 ways the housing market has changed for 2013,” Melinda Fulmer sheds some light on anticipated housing trends and changes for 2013, and what people looking to buy a home this year can expect to see as a result. 1. Home prices should increase, but only by a bit. With the economy bouncing back, home prices have been on the rise for 10 consecutive months. According to the National Association of Realtors, the national median home price in November had increased 10.1 percent from the same period a year earlier. While analysts think the upward trend will likely...

January 18th, 2013 Anticipated housing trends for 2013

More Homeowners Mortgage-Free Than Underwater

We so often hear about people being underwater on their mortgages, so who would have thought that more people actually have no mortgage debt at all? According to Zillow’s post “More Homeowners are Mortgage-Free Than Underwater,” there are more Americans who own their homes outright – about 21 million – than those who are in negative equity, or owe more than their home is worth – about 14 million. Similar to negative equity, the free-and-clear homeownership rate is largely driven by home values – but in a different way. Underwater borrowers are pulled to th...

January 14th, 2013 More Homeowners Mortgage-Free Than Underwater

Acadia Lending Group LLC

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South Portland , Maine 04106

Phone: 207-899-4500

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