Harrisonblog

Private Mortgage Insurance, more commonly referred to as PMI, allows home buyers to obtain a mortgage with a lower down payment (typically less than 20% of the sales price). With PMI in place, lenders are insured against the risk of default on the loan. PMI charges are fairly minimal, running at around one-half of one [...]

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Our team has been working diligently to provide you, our faithful readers, and our buyer clients with helpful information regarding the first time home buyer tax credit. Remember, it was extended from a few months ago and now expires at the end of April! (Note: Under the new law, an eligible taxpayer must buy, or [...]

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Many first time home buyers — and even some folks who have owned in the past and are currently renting — are just unsure about whether or not they should purchase a home. It is important to weigh your options before purchasing because it is likely the largest purchase you will make in your life.
So, [...]

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When first time home buyers begin thinking about purchasing a home, their first thought is usually, “Can I afford it?” or “Do I have enough money?” These are valid questions, and do need to be answered before you begin your home search.
The first step in the process of purchasing a home should be visiting with [...]

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Tax season is here, and will be gone before we know it! If you used the first time home buyer tax credit in 2009, or are thinking about claiming the extended tax credit this year, you’ll want IRS Form 5405. [Click here to download the form.] For a full set of details about the tax [...]

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The Federal Housing Administration (FHA) has a loan program for rehabilitating homes and communities called the 203(k) Loan Program. Better known as a “Rehab Loan.” This program is meant to encourage new home ownership, rehabilitation of neighborhoods, and communities.
One advantage of this program is that “buyers can focus on the location and floorplan instead of [...]

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James Madison University (JMU) is a large — and positive — factor in the economy of Harrisonburg and the surrounding area. JMU currently offers 68 undergraduate degree programs, 30 master’s programs, approximately 18,000 students, and a land mass of 696 acres of campus with 108 buildings.
Many students live off campus, and there are hundreds of [...]

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Many home buyers — especially first time home buyers — don’t know or don’t understand how using a buyer’s agent works. Buying a home can be a confusing adventure, so it’s important to have an expert on your side, who works with buyers day in and day out, helping them navigate the purchasing process with [...]

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With the economic turmoil that has been occurring in 2009, it seems fair to think that new construction is basically obsolete throughout the nation, let alone the local real estate market. However, there has been a lot of construction happening this year. How can that be? Construction material prices have plummeted over the past year [...]

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Appraisers play an important role in the real estate industry. Once a contract is in place on a home, an appraiser — usually sent by the lender due to loan requirements — goes to the home, walks through and around it, and makes notes on the property to determine the home’s value. Appraisers also pull [...]

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