Author Archives: David Axness

First Time Home Buyer Tip #2

How can you tell what’s a good neighborhood? We like to use what we call the “9PM Rule”.  Here’s how it works … as you stand in front of a house you like, ask yourself, “would I feel comfortable with my mom walking around all by herself in this neighborhood at 9PM? You will have […]

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First Time Home Buyer Tip #1

Don’t close any credit card accounts during the loan process. What?? You thought it was bad to have too many credit card accounts, right? Well, if you have any type of credit account (in good standing) for a long time, it really improves your credit score. Closing those account will only harm you. So, use […]

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The Home Buying Process – Step by Step

Are you thinking about buying a home? If you have been looking at homes for sale for any amount of time then you probably figured it out by now: there’s a lot of unknowns when just getting started aren’t there? It can be difficult to discern what a good starting point could be, but that’s […]

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Should you Buy a Lease Option?

No! Ok, maybe that was too strong of a response… how about, probably not.  What do I have against lease-options?  Nothing really and they can be a very useful tool.  The problem is that they are a chain saw and if you’ve never even used a handsaw, you probably should not mess with one!  In […]

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Should I Pay Off all my Debts Before Buying a Home?

That’s a terrific question that we get all the time.  The answer is, as always in real estate, “it depends”.  Let me explain by way of an illustration.

Posted in Before Buying a Home, Financing a Home | 4 Responses

How Does a 203k “Fixer upper” Loan Work?

The 203k “rehab” loan is the most popular loan for fixer uppers.  It allows you to buy a home that needs minor to major fixup and also loans you money for the work you want done.  The most common financial advice highlights the importance of spending less than you earn, but when you face real-world […]

Posted in Financing a Home | 4 Responses

Should I Buy a House if Prices are Still Dropping?

Should you wait around until you know prices have hit “the bottom?”  And how exactly are you going to know when that glorious day has arrived?  What if interest rates go up by then?  So many questions! Here’s an idea: 1.  Find a house you like and would enjoy living in for at least 5 years.

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7 Myths & Facts about Bank Owned Houses

Buying a bank owned house seems to be on everyone’s minds right now. With all the news articles about how currently more than one bank, or the good ones anyway, are really helping people taking into account their finances, and in some cases practically giving away homes, it’s exciting to think about getting an unbelievable […]

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Top 5 Reasons Home Loans Get Denied

I can’t count the number of times I’ve been asked “Why aren’t banks loaning any money right now?” Not true! Banks actually are loaning money- lots of it- but the stories in the news have gotten people to think that nobody can get a loan right now. But, the ones that do get turned down […]

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Are There Any Zero Down Loans Left?

First time buyers love zero down loans and understandably so. They often have installment loans to pay off, maybe a car loan or two, and have not been at their current job for long enough to save up a lot of money. No, I’m not stalling about answering the question “Are there any zero down […]

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