Power Tools for Buyer's Representatives

There is only one thing in life that is more certain than taxes. However for many homebuyers it may actually be the taxes that scare them to death, or at the very least, prevent them from purchasing their dream home. The housing boom has propelled New York state property taxes to an astronomical 42% increase in only 5 years. This double edge sword means that while some homeowners have gained considerable “wealth” through homeownership they are also being taxed into the poor house. Additionally the high taxes are preventing prospective homebuyers from purchasing these homes and allowing the current homeowners to tap into their equity. A taxing issue indeed!

Posted on May 28 at 12:05 PM | Permanent Link | Add a Comment (0) | TrackBacks (0)

Before the buzz has quited down on the 40 year mortgage, along comes yet another mortgage product to buzz about. Yes folks, it’s the 50 year mortgage! Currently available only in the sky high priced housing state of California. Critics worry that these mortgages may not allow homeowners to build enough equity in the event of a housing slowdown. But in a state where only 14% of homebuyers can afford a median priced home, mortgage seekers may be caught between a rock and hard place.

Posted on May 22 at 12:06 PM | Permanent Link | Add a Comment (0) | TrackBacks (0)

Welcome to the new "Power Tools for Buyer's Representatives"! NAR's Information Central will continue to provide information and resources for buyer's representatives on this site, with new features such as reader comments, easier-to-use archives and RSS, and more. Previous posts from the AE Power Tools (May 2006 and earlier) are available on Realtor.org at http://www.realtor.org/vlibrary.nsf/PubPages/brpp.

Posted on May 1 at 03:29 PM | Permanent Link | Add a Comment (0) | TrackBacks (0)