|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
Monthly Archives: March 2015
1409 N Sibley St., Metairie, LA – Just Listed
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||
601 LANCER Ln, Kenner, LA
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||
2012 N Turnbull Dr, Metairie, LA
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||
5000 Schindler Dr, New Orleans, LA
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
The Metairie Mortgage Payment Detail that Many Overlook
It can be a true three-ring circus as you close in on signing day for your new Metairie home. Sometimes there’s a near-simultaneous sale of the previous house that demands attention. There are the timing issues connected with moving out and then moving in. You may be dealing with furnishing the new house, school schedules, and sometimes work requirements have to be juggled; and everything seems to be happening at the same time.
Amidst all the details you are attending to, there is one that appears so simple that it may not get as much consideration as it deserves. Seeming almost like a non-decision, this one actually has major implications. It’s a true ‘sleeper.’
The subject is your decision on how you want to time the new mortgage payments for your new Metairie home. It turns out that “once a month” is not necessarily the best answer.
Many lenders offer a variety of mortgage payment options, and they vary in ways that can make a surprisingly great financial difference over the long haul. No matter how busy you get, this is a decision which deserves some serious attention (and probably a hand calculator).
First, there is an English language oddity to straighten out: it’s about the prefix “bi.”
If you think “bi” is a prefix that means ‘two,’ you’re right—but it also has two meanings:
- ‘Bimonthly’ means twice a month (but not once every two months).
- ‘Biweekly’ means every other week.
At first glance, “every other week” and “twice a month” seem to be the same thing; but they’re not. The difference is significant, because there are 52 (not 48) weeks in a year. As everyone comes to realize sooner or later, there are 4.3 weeks in an average month (not four). So the number of mortgage payments you will make could be 12 (if you go with the standard ‘once a month’ mortgage payment), or 24 (a bimonthly mortgage payment), or 26 (the biweekly choice).
Most people who choose either of the ‘bi’ payment choices consider a mortgage payment amount that’s exactly half of the monthly amount. If you choose the bimonthly plan, you might save a bit on interest by paying the first half a little bit early. But most lenders just hold the money and apply both payments at the end of the month—if so, the advantage disappears.
The real significant difference arises if you are offered a biweekly option. You can use any of the online mortgage sites to work out the precise details for yourself. Because you are making two extra payments a year, for instance, what would have been a 3.8% 30-year $225,000 loan for a Metairie home actually turns into a 26-year loan. All else being equal, you’d own your Metairie home free and clear four years earlier—and save more than $23,000 in the process!
No matter how hectic a house hunting and moving process becomes, it’s part of my job to help my clients keep the important details and decisions front-and-center. Getting the best answer to the mortgage payment choice is one of them; and of course, another best answer is to give me a call!
Our city has so much beautiful culture to offer… Love our city, New Orleans.
Questions about Buying or Selling a Home? Give me a call! Terez B. Harris (504)297-2619
Terez B. Harris
Terez Harris NOLA Realtor Group
(504)297-2619
TerezHarris@kw.com
See what your neighbor's home sold for…
See What Your New Orleans Home is Worth!
See What Your Metairie Home is Worth!
New Orleans For Sale By Owner?
Terez B. Harris Terez Harris NOLA Realtor Group 504-297-2619 www.TerezHarris.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers and agents licensed in the state of Louisiana.
1720 Old Metairie Street, Metairie, LA – Just Listed
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||
601 Lancer Lane, Kenner, LA
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||
3 Key Ways You Can Help Your Metairie Real Estate Agent
In the weeks before you decide which of our local real estate agents will represent you and your home once it goes on the market, you’re probably looking for a Metairie Realtor® with the qualities that make a great sales person: knowledgeability, directness, personality, trustworthiness. Likeability is always helpful, but it’s only one among many qualifications. This is a business decision, and an important one for you and your family.
Start Your Metairie Home Search
What is Your Metairie Home Worth in Today's Real Estate Market?
Then, the instant you make your selection, the landscape changes completely! You are no longer on your own: you and your Metairie real estate agent are members of a team that’s ready to get to work on the project. You both want your home on and off the market as quickly as possible, so the smoother the workflow with your real estate agent goes, the better.
Your real estate agent will already be hard at work assembling the marketing program that will attract prospects from near and far, but you can be helpful even with that effort. It’s the first of three key ideas that are often pointed to as key contributions owners can make:
· Help your agent with unique selling points
What makes your home different from all the others that will be listed for sale? Every property has unique selling points that don’t fit into the standard check boxes, so let your agent know. Qualified agents are already thoroughly familiar with Metairie’s broad attractions, but you’ve experienced specific advantages to living in this home, in this neighborhood. Each selling point is another facet that could fire a buyer’s imagination. Having a rich store of real life anecdotes to draw upon will strengthen your agent’s ability to put your home in the limelight.
- Keep it cozy without clutter
Most times, an owner is still living at home, so your Metairie real estate agent will be working with what you have available when it comes to furniture and home décor. It’s a strongpoint when prospective buyers are able to project themselves into being the comfortable homeowners. If they’re prevented from envisioning your home as their own, they’ll be out the door and onto the next! Clearing away personal items helps with that—and keeping the clutter level low increases the sense of spaciousness. If buyers see an overstuffed closet, they’ll sense a house that lacks storage space. If kitchen counters are cluttered, they’ll think the space is too small.
· Be flexible with your schedule
Your real estate agent lists your house, makes sure to market it in all the many venues available, arranges open houses and showings, and spreads the word throughout the industry. During this part of the process, you help greatly by being as flexible as possible when it comes to showings. Sometimes potential buyers may seem to be placing insensitive scheduling burdens on the team—but as any serious-minded house hunter can tell you, they have their own scheduling issues, too!
Selling a home is a team effort, for sure; one you can decide to launch with a simple phone call to me at my office! Terez B. Harris (504)297-2619
Terez B. Harris
Terez Harris NOLA Realtor Group
(504)297-2619
TerezHarris@kw.com
See what your neighbor's home sold for…
See What Your New Orleans Home is Worth!
See What Your Metairie Home is Worth!
New Orleans For Sale By Owner?
Terez B. Harris Terez Harris NOLA Realtor Group 504-297-2619 www.TerezHarris.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers and agents licensed in the state of Louisiana.