Vision Realtors

If you’ve been browsing the Summit NJ listings lately, you’ve probably been thinking about the various types of mortgages.  News headlines have been disparaging this type and touting that one for the past few years.  It can get confusing, especially for a first time homebuyer.  Talking to a HUD-approved mortgage counselor will help you sort out all the different options.  In the meantime, here are a few pointers on the old standard fixed-rate loan.

The biggest benefit of a fixed-rate mortgage for a Summit NJ real estate buyer is right in the name.  The rate is fixed; it doesn’t change.  Regardless of the changes in the economy or interest rates, your monthly payments will stay the same.  You know exactly how much your mortgage payment will be every month over the entire course of the loan.  There will be no surprises or shocks with an economic shift.  Your budget will be set and you can plan accordingly.

This type of mortgage works well in certain economic condition.  It is a smart option when you have a stable or fixed income.  If you are planning on staying in your home for a long time, a fixed rate is a solid choice.  Fixed rates are also a good choice in an unstable economy or when interest rates are on the rise.  In periods of inflation, keeping your interest rate constant can help you ensure you aren’t forced into an early sale.  Keeping in touch with your Summit NJ realtor is a great idea, but you don’t want to be in a position where you are forced by costs into making that call.  

Like any mortgage, a fixed rate mortgage also has a few negative points.  If you bought during a period of high interest rates, you won’t have the opportunity for a lower payment without a complete refinancing.  Since the first several years of a fixed rate mortgage is spent paying down the interest you should plan on staying in your home for a while.  If you are working with a short timeline, another option may be a better idea.  These mortgages also typically have a slightly higher interest rate than their competition, depending on the economy, so there may be periods of time where you are paying more than your neighbors.

Your Summit NJ real estate agent can also help you sort through a few options.  She can also point you towards a HUD-approved mortgage counselor who can guide you through the process and help you choose the best loan for your next home.

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Today the real estate market in India is at an all time high. With the emergence of multinationals, the demand for office and residential space has increased many folds. But the investors of this market still consider India as an emerging market for the restrictive laws relating to Foreign Direct Investment (FDI) and earning profit is difficult in India’s property sector. Sensing this, Government has liberalized the laws relating to FDI in February 2005. With this now Non Resident Indians (NRIs) or Overseas Corporate Bodies (OCBs) can invest upto 100% in the sector and also in real estate industry and construction ventures. A foreign Company with 60% NRI holding is considered as OCBs. But still Government has certain rules in place for purchasing commercial property by foreign company i.e. property for business purposes.

Although the investment period is restricted to minimum of 3 years for the FDI to avoid speculative trading but the real charm is that the investment is now allowed in the smaller projects of 25 acres, (which was 100 acres earlier). The hassle free and the easiest way to enter this market is by buying an investment fund. There are many attractive and transparent funds from reputed investments houses. It is expected that with the liberated laws, real estate investment fund will emerge soon. But care should be taken before acquiring any land and legal help should be taken at every stage of buying process.

The increase in global real estate investment interest in India is evident from the fact that US real estate billionaire, Sam Zell has termed India as world’s lowest cost housing market and is planning to make substantial investment. Further, Dubai based Emaar Group has already invested USD 100 million in Hyderabad. And companies from Canada, Malaysia, Tokyo, UK, and Singapore have all committed millions of dollars in India. This is all the result of easing of laws along with impressive property price growth.

The local factors contributing to this booming real estate market is the rise in demand for the property for sale and rent. With India’s population raising to over million the potential for growth in property demand is huge. In addition to this the growth of IT sector and outsourcing in particular geographical areas has led to the demand for office and housing space in those areas. With the increase in the buying power of these professionals and the availability of housing loans has made it possible for them to afford their own houses. The increase in demand has also inflated the property prices.

Before 2005 there was only 1.1% of foreign direct investment in India’s real estate sector. But after Government easing the controls and restriction on foreign ownership of immovable property and also on terms of ownership, there is a strong inward inflow of foreign investment interest in India. Government of India is keen to attract investment in this sector but in favor of control investment. As a result the local builders are earning around 30-50% of rate of return on capital and property prices has increased in excess to 20%. Cities like New Delhi, Mumbai and Banglore are mainly attracting these investments.

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Keyword: real estate

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Ben Hirsh is the owner of the Ben Hirsh Real Estate Group and an expert on Woodstock GA real estate . His unique website features a helpful sellers page where he explains what he can do as your Woodstock GA listing agent to sell your home. The site also features a Woodstock GA MLS search, Search where home sellers can study other homes on the market.