RealEstateResourcesBlog.com

Adding an extra room in your loft or just carrying out routine maintenance on an aging property is expensive and will need financing; a home improvement loan is probably the only way this will become possible. Very few people want to attempt many of these home improvements themselves so tradesmen such as electricians, plumbers and carpenters will need to be employed.

Almost all homeowners are able to arrange a home improvement loan but some may decide voluntarily, or be forced, to have the loan secured on their home or other valuable possession. A loan that does not require equity allows new homeowners to apply even if they just bought their home. Fortunately for the homeowner, a non-equity based financing arrangement is available with a fifteen year repayment term if required.

There are, however county limits on how much money can be borrowed when it is for no equity finance and a lower limit imposed by the lenders which takes into account the joint income of both owners. The eligibility of the borrower, the property type and the improvements planned are all considered because this type of loan may only have minimal documentation and is relatively easy to process.

A secured home improvement loan allows you to access some of the equity in your home, so that you can take out a loan against your property. The upside to this type of secured loan is it’s available at more favorable rates of interest but is not arranged as a second mortgage on the property.

Obviously the amount you are able to borrow using a secured loan will depend on the value of your home. This calculation is worked out using how much your home is worth, how much is owed, and of course if there are other loans or debts, as these will be included in the calculation.

All these factors will be considered for putting a loan package together for your consideration. Whilst most loans are based on a set percentage of the property’s value, some lenders will agree to fund up to one hundred and twenty five percent of the valuation.

Because you are lending money against your home, it is important that you borrow carefully and you do not overextend yourself or you will be putting your house at risk. So when you arrange a home improvement loan, it is best to use it only for necessary repairs and make renovations or home additions only when you have the money to spare.

I have to ask myself if Zillow.com is still a relevant resource for Real Estate ?
During the Real Estate boom, I was wowed and amazed at the skyrocketing values that Zillow told me my house was worth… but, once values started dropping, I began to notice that Zillow was totally out of touch with realistic valuations for local Real Estate.

I understand that Zillow gathers its data based on recent sales data, etc… and this may cause a slower reaction time since by the time sales close in a fast moving market, prices may have already changed… but, I just want to know from people out there using Zillow…

What are you using Zillow for specifically ?

Is Zillow still providing you relevant services ?

Why would the average person need or want to use Zillow ?

Mandrake

According to all of the media in America, our great country is in a “housing crisis”.

Yes a crisis.  Our world is going to end because the free market is adjusting.  I guess our memories are so short that nobody remembers that the housing market goes in cycles.  It goes up and then down and then up and then back down, etc.

After 2001, the USA had almost unprecedented growth in housing valuation.  I know the housing prices in my neighborhood in Southern California went from the low $ 100,000’s to almost $ 400,000 in just 5 short years.  That kind of value fluxuation has never happened before.

Now all of the sudden as housing prices cycle back down, as they have always done, our great country is now in a “housing crisis”.   Well one man’s crisis is another man’s opportunity.

Just relax and let our free market capitalism run its course.  That is why America is the greatest country in the history of human civilization.

Rawlin James