Spokane Real Estate Blog

6 Questions to Ask When Buying a Vacation HomeMany people dream of having a vacation home, whether it’s beachfront property or a cozy cabin tucked away in the middle of nature. However, a vacation home is a big investment, and no one should rush into purchasing one. For those interested in a home away from home, here are a few questions to ask before putting an offer in.

1. Is the Property Affordable?

When thinking about a vacation home, it can be easy get excited and forget that a second home will cost more than just a monthly mortgage. Home buyers need to take into account who is going to take care of the home while it isn’t in use, if the home needs any repairs or regular maintenance, additional taxes, and other extra costs. 

2. How Convenient Will the Home Be To Keep?

There’s no

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Home Warranties: Are They Worth It? When purchasing a home, buyers can have a lot to consider from where to start looking to what mistakes to avoid to whether or not to get a home warranty. Some buyers may find out that the home is under warranty, or they may find a letter in their mailbox offering a home warranty. But just what is a home warranty, and are they worth the money? Here’s everything home buyers need to know about home warranties so they can decide of themselves if it’s worth it.

What Is a Home Warranty?

Many people are familiar with warranties in another setting, such as when purchasing a new computer or cellphone to protect it in case of accidental damage. Home warranties work in a similar way: they cover many major appliances and systems in the home in case they

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3 Questions to Ask Before You Decide to Rent or BuyReal estate has changed so much in the past few decades that it's no longer a straight-forward answer to the question of whether or not it's smarter to buy or rent. The real questions to ask have much more to do with your own plans and income and less to do with whether or not renting is a complete waste of money. Consider the following before taking the plunge either way.

Do You Really Want a Home?

Most first-time homeowners may be shocked when they realize just how much work a house can be. Unless they have enough money to hire constant caretakers, they're stuck doing everything from mowing the lawn to fixing the sink to replacing the broken tile in the bathroom to even having to consider energy efficient upgrades. Even if they saw their

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What Is A USDA Loan? A USDA loan is one of the least utilized types of loans available. If you are a home buyer shopping for a loan, it's important to know what a USDA loan is and whether or not you would qualify. Once you know about the USDA loan system, you can decide for yourself whether or not this loan is right for you.

What Is A USDA Loan?

A USDA loan is a loan issued through the US Department of Agriculture. For most qualifying borrowers, USDA loans work like FHA loans. Like FHA loans, borrowers obtain the loan by finding a lender who has been pre-approved by USDA. Also like FHA loans, home buyers who put no money or very little money down must pay mortgage insurance on the life of the loan.

USDA issues these loans to help improve quality of life in rural

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How Can a VA Loan Help You Buy Your Next Home?Toward the end of World War II, President Franklin D. Roosevelt signed the Servicemen's Readjustment Act into law. Also known as the G.I. Bill, Congress and the President created it to assist returning servicemen in assimilating back into civilian life and reward them for their service with sweeping benefits included educational, health, and home buying assistance. The VA home loan program is one of the bill's most popular features. In 2016 alone, more than 700,000 home loans were guaranteed by the Veterans Administration.

VA Home Loans: Establishing Eligibility

The first step in obtaining a VA home loan is establishing eligibility for the program. While the program is open to all military, military reservists, and National Guard members, each

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What to Know About the FHA Home LoanAn FHA loan may be useful for those homeowners who are not currently able to put down 10 to 20 percent on a home purchase. As it is insured by the FHA, lenders are more willing to approve a mortgage loan for individuals who might not be approved for a conventional loan. If a homeowner can put down 3.5 percent, they may be able to finally own their own home. This is one of many mortgage loan products available for prospective homeowners.

Learn more about an FHA loan and get answers to initial questions about this mortgage product today.

Who May Be Eligible for an FHA Loan?

Applicants have to be a lawful resident of the United States and be considered of legal age to sign for a mortgage loan. This age can vary by state, but a local loan

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Affordable Energy Efficient Upgrades for Your HomeMany homeowners are interested in leaving a smaller carbon footprint and reducing their home's energy consumption. Not only are energy efficient upgrades useful to decrease energy bills and a homeowners reliance on energy resources, but they may also serve to improve a home's value. What are some easy and affordable ways that homeowners can get started?

Take advantage of current green energy incentives and look into a few approaches homeowners take to upgrade their homes and lower their utility bills today.

Energy Efficient Upgrades Pay

Homeowners continue to see incentives for energy efficient improvements from government and mortgage programs. Prospective owners can build green homes in Oregon, New York, New Jersey and Maryland and other

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How to Reduce Capital Gains Tax When Selling a HomeDoes a seller need to declare all of the profit made on the sale of a home to the IRS? Homeowners should be aware of the exclusions that may make it possible to refrain from paying capital gains tax on the full or partial profit of a sale.

Learn more about the $250,000/$500,000 exclusion, partial exclusions and the 2-out-of-5-years rule.

Are You Aware of the $250,000/$500,000 Exclusion?

The exclusion applies to the sale of a main home. Up to $250,000 in profit may be excluded from the sale for individuals. As for married couples, $500,000 in profit can be excluded. The exclusion can apply to residences including a house, condo, apartment, stock-cooperative or fixed mobile home. This means that a considerable amount of the profit on the sale

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How to Avoid Mistakes When Selling a HomeWhen it comes to selling a home, no one wants to do something wrong in the process. Unfortunately, there are a lot of common mistakes sellers make not realizing it. Here are some of the common mistakes first-time sellers and veterans alike make when selling a home and how to avoid them.

Pricing Too High

When pricing a home, pricing too high can be one of the worst mistakes a homeowner can make. Homes with high prices typically take much longer to sell than similar homes with smaller price tags, and a high price can also act as a gatekeeper, preventing people from seeing it because they think it’s out of their budget. And if the price is eventually lowered, it can lead to people thinking there must be something wrong with the home if it wasn’t

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How to Take Advantage of 203k Home Renovation LoansIn the aftermath of the housing bubble's disintegration in 2008, the landscapes of many communities and neighborhoods across the United States are marred by homes that have serious issues. Whether these issues are structural in nature—such as foundation work or a new roof—or they are more cosmetic problems, the costs of making the repairs necessary so that a house becomes a home can price many potential home buyers right out of the market/

Government-Backed FHA 203k Loans

Fortunately, there is a government-backed answer that helps put potential homeowners in the houses they want which also gets languishing properties off the market. The 203k loan program is overseen by the government's Federal Housing Administration (FHA). Working with lending

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