Finally, we are going to get some nice cold weather around Lake Keowee. Over the next few days, the weatherman is calling for highs in the 50’s with some frost warnings at night. Lookout, we might be heading deep into a southern winter. In a month or so we might even have a freeze warning. Probably too much to ask for a white Christmas. But let’s do it anyway. Please, Old Man Winter, give us a white Christmas (just for a day – not real big on long snow events, we really just want to borrow some snow for a little while).
How’s business? Great! We continue to put a couple of properties under contract and expect November and December to be pretty good months, as well. We even hope to put a couple of listings on the market by early next week. Fingers crossed! We are still in desperate need of more Lake Keowee inventory. Be it waterfront or interior with boat slips. We can get you the most money in the least amount of time with the bare minimum of stress!
Give us a call as we’d love to talk more about your Lake Keowee property and what we could get it sold for!
Home Buyers: A Critical Guide To Home Loans:
Choosing the right mortgage will affect your very financial future. Here’s vital information to help you weigh your options and make a sound decision.
An Insider’s Guide to Understanding Mortgage Loans
Which loan is right for you?
Adjustable. Fixed. Balloon. It’s easy to get lost in mortgage verbiage. Here’s a rundown of the most common loans.
Fixed-Rate Mortgages – People usually opt for a fixed-rate loan for the security it offers. You know exactly what you’ll be paying each month for the life of the loan. If interest rates fall, you can refinance at a lower rate. Lenders are offering more loan programs based on fixed rates, such as lower down payments – that is, five percent down or less. Adjustable rate loans generally require a larger down payment. The most common fixed-rate loans are for terms of 15 or 30 years. If you can afford the shorter term, it’s a good way to build equity fast and save tens of thousands of dollars over the life of the loan. (However, I can show you how it will be a more savvy move to go with a 30 year fixed and pay an extra payment each month above and beyond your established mortgage payment. Just be sure to indicate your extra payment is for principal paydown only, not interest. This way you could even pay off your mortgage sooner than 15 years and save tens of thousands of dollars. You also have the “safety net” of paying your lower established mortgage payment should things get tight one month.)
Fixed-rate mortgages make the most sense when interest rates are low and if you’re planning to stay put for the next seven or more years. They offer safety to people on fixed incomes who might not be able to afford a rising housing bill. If you need to lock in your level and can afford the monthly payments, consider a fixed-rate loan.
Let’s say you make a good salary working for a large company. You’re comfortable and job security is pretty good, but there’s not much chance of further advancement. In other words, you don’t anticipate moving anywhere else in the foreseeable future, and you want to avoid the possibility of higher house payments down the road.
A fixed-rate, long-term mortgage makes sense in this situation. Although you’re probably paying one to two percentage points more than an adjustable loan, you also have the security of a fixed payment each month. And if interest rates drop three or more points, you can refinance at the lower rate.
more next week….
More next time…
Check out the Lake Keowee Real Estate numbers for the year
WESTMINSTER — A complete overhaul of the city of Westminster’s zoning ordinance is nearing the finish line. The city planning commission on Monday voted unanimously to approve the final round of amendments and pass along the document to Westminster City Council for approval