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Coldwell Banker Realty Blog

Thursday, July 29, 2021   /   by Steve Ticknor

How Does Equity Work?

Mark Twain famously said "Buy land. They're not making it anymore." The Balance says that buying real estate is a good way to round out your investment portfolio, especially for the long term. One of the reasons is because you can build equity in it from the moment you take ownership in most cases. How does that work? Is it possible to boost it even more? The answers to these questions and more can be found below.
How Does Equity Work?
What Is It?
First of all, it helps to know what it is. Basically, experts define equity as the difference between what you owe on your mortgage and your property's current market value. When you originally purchased your property, you included a down payment. That ranges anywhere from 3% to 20%. Let's say you paid $120,000, with 10% as your downpayment. At the time, you bought your Lake Havasu home for the fair market value of $120,000. That means that your equity at that time was $12,000.
As time went on, your mortgage balance went down as your fai. ...

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  lake havasu real estate, havasu homeowners, equity, home equity

Friday, June 25, 2021   /   by Steve Ticknor

How to Buy a Havasu Home Sight Unseen

Open houses used to be a regular part of the Havasu home buying experience. But during the pandemic, this was put on hold for a while. While we now see open houses occur more regularly, some people still feel concerned about entering a stranger's home. And for out-of-town buyers, physically visiting properties becomes difficult. In a highly competitive market like here in Lake Havasu City, you need to be ready to pounce on a property as soon as you think it works for you. If you are interested in buying a Havasu home sight unseen, use these tips to make it a successful experience.

How to Buy a Home Sight Unseen
Hire Locally
An experienced local Lake Havasu REALTOR® knows the market better than anyone. This really helps when you wish to buy a home sight unseen. Interview several agents. Ask them for references (and make sure you contact those references directly). Discuss how long they have been working in the Lake Havasu market and inquire about how many buyers they have worke. ...

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  lake havasu real estate, home buying tips

Coldwell Banker Realty
Steve Ticknor And Bob Ulery
2148 McCulloch Blvd N #105
Lake Havasu City, 86403
928-302-6177

Copyright 2021 WARDEX Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable, but not guaranteed. This data is provided by the Western Arizona REALTOR Data Exchange, Inc.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.
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