Tag Archives: Real Estate

3 Ways to Help You Handle Mortgage Efficiently

Mortgage loan agreement and a keyGetting a mortgage is a big, long-term financial responsibility. In fact, it is something that many people refrain from doing. But don’t let your fears of mortgage or lack of knowledge about it get in the way of fulfilling your dream of becoming a homeowner. There are effective ways to handle a mortgage more efficiently.

Consider these tips if you have or you are planning to get a mortgage in Utah:

Make additional payments when you can

Just because your current mortgage plan says 30 years doesn’t mean you need to wait three decades to pay it off. If you have extra money and you can make additional or advanced payments, do so. In fact, it is highly advisable. One, it can help ensure that you make your mortgage payments even during rainy days. You can also refinance it so you can pay off your debt faster.

Create a budget and stick to it

Mortgage payments eat up a huge chunk of your monthly household budget, so make sure you plan your expenses accordingly. Otherwise, you’ll find it hard to make the payments. It is highly advisable that you separate your budget for mortgage payments and repairs because they are often the biggest.

Look for ways to cut costs

There are many ways to cut costs in your household budget. Other than putting some luxurious expenses on hold for a certain period, you can make medium-sized investments, such as switching to solar power, to lower your utility bills. These types of investments also make your home worth so much more if you choose to sell it eventually.

Some people rent out their extra space to earn money that they can use to cover other expenses. Whatever you choose to do, what’s important is that you look for ways to cut costs so you can allocate the funds to other important things.

Your mortgage is a crucial part of your financial status, so make sure you handle it efficiently. Consider these tips to increase your chances of becoming debt-free.

US Mortgage Refinancing Activity Rises in Mid-July

Man holding the refinance your mortgage cardThe recent increase in interest rates, along with expectations of further rate hikes, led more people to apply for a mortgage refinance in Utah, California and other states in the U.S., according to the Mortgage Bankers Association (MBA).

The MBA noted that applications in mid-July rose 6.3% from the first week of the month. Its seasonally adjusted index, however, showed that overall volume was 31% lower in the same period of 2016. Still, interest rates were lower during that time.

Average Rates

For those planning to refinance their 30-year fixed-rate mortgages, you can still expect to pay a 4.22% average rate for conforming loan balances of $424,100 or below. On the other hand, mortgage applications for a home purchase rose 7% in mid-July compared to the same time in 2016.

MBA economist Joel Kan said that Treasury yields were lower during the second week of July, amid indicators of weaker inflation and retail sales for the month. Despite an increase in rates, there are good reasons why you should refinance your mortgage.

Refinancing Tips

Mortgage refinancing should not focus on the growth trend of interest rates. Instead, you should base it on the length of time that you intend to keep the mortgage and the property. An advantage of refinancing involves the possibility of securing a lower payment amount and interest rate.

If lower interest rates serve as your reason, keep in mind that you would be extending the term of your mortgage in the process. In some cases, this could require you to pay more due to the longer repayment period.

Mortgage refinancing offers several benefits to borrowers even during increasing rates, provided that you are acutely aware of how to leverage the situation to your advantage. In case, you want to know more, it’s better to seek professional advice for the best strategy.

Multi-Family Real Estate: Should You Invest in It?

Man and woman investing on real estate For investors who are looking for more sources of monthly income, they usually rely on rental property investments. They prefer this tactic because of the slow, but stable increase in the worth of their portfolio. If you’re new to the real estate industry and have already spoken with a multi-family lender, such as Bonneville Multi-family Capital, here are reasons to encourage you to invest:

Costly, But Easy to Fund

For most, if not all, cases, the price to purchase an apartment building will be considerably higher than the price of buying a single family property. This is why most think that getting a loan for a single family home would be easier than raising funds for a million dollar estate. Truth is, it’s easier to get bank approval for a multi-family property instead of an average house.

The reason behind this is that multi-family properties steadily produce a solid monthly cash flow. This is still the case even if the estate has a lot of vacancies or tenants that give late payments.

Growing a Portfolio Doesn’t Take a Lot of Time

For real estate investors who want to develop a huge portfolio filled with rental units, a multi-family property is the best choice. Think about it, getting a 20-unit apartment building is more time efficient and easier compared to buying 20 various single family houses. By choosing the second option, you would have to go through all the hassle of communicating with 20 different sellers and handle 20 house inspections that are in different locations.

Property Management Makes Sense Financially

Some investors prefer to get the assistance of a property management company to manage the daily operations of their rental properties. They will only have to pay the manager some percent of the monthly income their property produces. The tasks of these managers involve searching and evaluating potential tenants, gathering rent payments, maintaining the building and managing evictions.

Just like stocks investment, investing in real estate would require you to employ some tactics. Knowing that it is better to finance a multi-family property compared to single-family homes can help you get started on your investment.

Saving Before Moving to a New Place

Moving to a new houseMoving out your things to a different or far location can be a daunting task. The packing alone will require most of your time and can cost the time you need for resting or time with the family. Here are some tips on saving both money and time when moving to a new place.

Find a place that is fully furnished

Getting a place that is fully furnished will save you time in packing your things. You can also save money on hiring help to move and lift your furniture. It is far easier to pack your personal belongings compared to packing and making sure your furniture and appliances don’t get damaged during transport.

Sell the appliances and furniture from your old place

This can also be a way to ease things up when moving to a new place. Selling appliances in Fayetteville and furniture may involve a lot of planning and more time, but it will mean saving on hiring a van to move out. You can take photos of your furniture and appliances and post them online or get the help of professionals to take care of the job for you. This decision to sell your old furniture and appliances will provide you with additional funds when you move out, especially if you are moving to a fully furnished place.

Sell your furniture and appliances to the next person

If you are moving out because you are selling your place, mark up your price such that it will include your furniture and appliances. If you are renting, you can make arrangements with your landlady to purchase them or sell them to the next person that will rent the place. It is a more convenient solution especially if you have no time to pack.

Indeed, moving to a new place may mean more planning, money, time and stress. However, with these options, you can make your moving out less stressful yet more beneficial in terms of time and money.

Why You Should Not Delay Estate Planning

Estate Planning Most people are not comfortable or open to discussing wills, testament, and other estate planning matters. Even with their spouses. But the truth is, having a meaningful discussion with your family about estate planning can benefit all of you. Delaying it will only cause confusion, anxiety, and too much pressure later on.

According to an experienced estate planning attorney in Utah, there are also a couple of other reasons why you should deal with this issue as early as possible. These include the following:

You can better prepare for unfortunate situations

Estate planning allows you to determine how and by whom your assets will be managed in the event you become incapable of managing them yourself. The idea may seem too morbid to many, but estate planning lets you think in advance how your assets will be distributed after your passing.

You can determine your children’s guardian in advance

Many people tend to wait until all of their children have come of age before discussing estate planning because they couldn’t determine the best person to name as a guardian. However, if something untoward happens to you and you fail to determine a guardian for your kids, the court will decide for you. Unless you are confident about placing the future of your children in the hands of a judge you don’t personally know, then it is best to deal with it while you are able to.

Even you think it is too morbid or that it somehow makes you think about your own mortality, estate planning actually reflects your love for your family and the people you care about. It gives the impression that you want to them to feel safe and secure even long after you are gone. So start planning today and don’t forget to include your spouse in making your decisions.

Qualities of a Good Real Estate Agency

Good Real Estate AgencyChoosing a qualified and experienced real estate agency can actually make a big difference in your real estate experience and result in a successful transaction. If you are interested in real estate in Papua New Guinea, there are various options available for you.

While the specific details of what you will be looking for are different whether buying or selling, a few values make a great real estate company like Nuiguini Land & Properties.


There is no substitution for experience in today’s ever changing real estate market. The right real estate agency will clearly predict issues and at the same time, understand the intricacies of the many types of real estate transactions. A good real estate company will actually promote and protect a client’s best interest with a lot of ease.

When selling, a qualified agency will have the right knowledge of the pricing, global connections, market savvy and a book of clientele required to make the selling of your house very successful and with minimal challenges. For buyers, an experienced agency will also be able to list your wants and needs, and can match with the community and home to suit and exceed them.

Market knowledge

Having the right knowledge in the market, whether you are buying or selling is very important to your success. The right real estate agency will introduce you to up coming investment markets and advice you on marketing activity in your own neighbourhood.

Marketing and technology

Due to the constant changes in the real estate industry, more and more importance is being placed on agencies’ marketing abilities and use of technology. Most homebuyers start their search online, so its very crucial for a real estate company should have online presence in order to caption buyers. The company should make the technology available to both buyers and sellers to make communication effortless.

Resources and connections

Having the best resources and the right connections means a lot in the real estate industry. Knowing the right and qualified home inspector and having your area’s best lawyer and mortgage professional on speed dial gives you a huge advantage.


A good agency should be licensed and in good standing. Be wary of dealing with unlicensed agencies, because for all you know, they may be con artists out to get your hard-earned money.

With these few qualities, you will sell or buy your home without difficulties. Real estate in Papua New Guinea has grown a lot, so you will definitely get the best services if you hire the best realtor company.