Empowering People Through Real Estate

If your home inspection report comes back bad, now what?

by Nick Galiano


If your home inspection report comes back bad, now what?

    One of the biggest deal killers for any real estate transaction is the home inspection. It strikes fear into the hearts of sellers and buyers...even though virtually everything about a home can be repaired or replaced. The good news is that if you have a great real estate agent and a competent home inspector, you can usually handle a failed inspection report properly without having to panic in the process. The key thing to remember is that when the home inspection report...

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How to get the home with the furniture included

by Nick Galiano


How to get the home with the furniture included

    So you like the dining room table in the house you want to buy, but your agent tells you it’s not included with the sale.   What do you do?   In short, you ask for it. Well, you negotiate it as part of your offer to purchase the home from the seller.    To effectively get the home you want with the furniture included, you should identify in advance any furniture that you are interested in buying and let the seller (or your agent) know...

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What will be your payment on your new home?

by Nick Galiano


What will be your payment on your new home?

    Buying a new home can be overwhelming. Between understanding the financial aspects of your loan and all the paperwork required to buy your home, things can get a little crazy. One of the biggest parts of getting a new home is figuring out the terms and conditions of your mortgage. Two of the biggest areas that impact your loan are credit and your down payment. In this post, we’ll cover both and also explain how to determine the down payment on your new home. Understanding...

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What is your debt to income ratio...why should you care?

by Nick Galiano


What is your debt to income ratio...why should you care?

      Any time you have more income and less debt, you’re in good shape in life. That said, there is an ideal ratio between your debt and income in order to qualify for a good mortgage.   When your debt to income ratio is on the high side, you run the risk of not getting a good loan (or not getting a loan at all) if your income were to take a hit during right before or during the loan funding process.   Conversely, having no debt can work against...

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Why you should wait to buy that car until after your home purchase

by Nick Galiano


Why you should wait to buy that car until after your home purchase

Why you should wait to buy that car until after your home purchase     Getting preapproved for a mortgage is a major step in buying a home. When done properly, it’s like having cash in your hands so you can negotiate effectively with a seller to buy a home.   It’s easily one of the most important things you can do in order to buy the home of your dreams.   But its name gives you a hint as to how fragile this financing instrument can be.   You...

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What is the Interest write off deduction?

by Nick Galiano


What is the Interest write off deduction?

        Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income.    Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes.   This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you...

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Owning vs. Renting

by Nick Galiano


Owning vs. Renting

      Making the decision to own a home versus renting one is no small decision. Not only does it affect your expendable cash, but it also has a huge impact on your lifestyle and how much money you’re able to save over time.   Sometimes, the goal to achieve the “American Dream” of owning a home clouds some people’s vision for the future and they buy a home when they should really be renting one.   Similarly, there are people who...

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Property tax assessment too high...what you can do about it?

by Nick Galiano


Property tax assessment too high...what you can do about it?

    An increase in home values is great because it increases the equity in your home without you having to invest more money in making it happen. Unfortunately, as the price of your home increases, so does the perceived value of your home in the eyes of your local tax assessor. When that happens, your taxes also go up. The bad news is that your tax rate - the annual percentage of your home’s value that you pay - is fixed by the state and/or municipality in which you...

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How to get qualified to purchase a home for no money down

by Nick Galiano


How to get qualified to purchase a home for no money down

      Even with all the insanity that happened during the mortgage meltdown and all the changes that resulted in how money would now be lent to buyers, there are still some amazingly affordable loan programs out there.   Included among them, believe it or not, are no-money-down options for buying a home.   Here are some of the best programs that are out there today and how you need to get qualified to purchase a home using them to buy a home for no money...

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How much you should put down to purchase your new home?

by Nick Galiano


How much you should put down to purchase your new home?

      Historically, home buyers seek to put down 20% when they purchase a home.  However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend on your credit score and your...

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