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Homes Sold in Oroville this Week

Buying a home is a major decision, and it can feel like a gamble. If you buy now, will real estate prices plummet? Will mortgage rates fall? Or is now the perfect time to snag the home of your dreams?

Things are looking up: Mortgage rates are low despite recent gains, and new data shows the inventory of homes on the market is starting to increase—all good news for buyers.

I’ve added my “Sold in Oroville this week” series to my blog.  This link will keep you informed.  I will be adding a link every Tuesday to keep you informed on our market.

http://mrmlsmatrix.com/DE.asp?ID=39423643240

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Home Ownership

Are You Ready …… to Buy a Home?

You’ve done the math. With the down payment you’ve saved, you can safely buy a home for less money than you could ever have as a renter.

Yet, you seem unable to make a commitment. Are you sure you’re really ready to buy a home?

If you find yourself saying any of the following to family, friends, or your real estate agent, you’re not ready. Continue reading

Lake Oroville

Owning vs Renting

http://www.zillow.com/home-buying-guide/rent-vs-buy/

Is renting cheaper?
This is not an inconsequential question. Whether renting or buying is more cost effective depends on your market, where you choose to live and whether you like to do home improvement and maintenance projects yourself.

Homes cost money: Appliances break, roofs leak, and if you own, you are the lucky soul who gets to pay the bill. If you are renting, landlords pay the plumber and roofer.

That is why many homeowners who have taken out a mortgage in order to buy do so in anticipation of the tax breaks that come with homeownership. Depending on your tax bracket, a first-time purchaser’s 1040 tax deductions can heavily subsidize many of the expenses you have poured into your new home.

Also, since a 30-year fixed mortgage comes with an amortization schedule with the highest interest payments coming in the first years of the loan repayment, mortgage holders have been able to claim deductions in the early stages of ownership.