Build Equity In Your Home Faster…

Title with "Build Home Equity Faster"
Build Home Equity Faster
eq•ui•ty
Function: noun
.
1 a : a right, claim, or interest existing or valid in
equity b : the money value of a property or of
an interest in a property in excess of claims
or liens against it c : a risk interest or ownership
right in property

Equity is the part of your property that you actually own. If you own property that’s worth $250,000, and you have a mortgage with a remaining loan balance of $100,000, your equity in the property is $150,000. Repeat home buyers usually rely to some extent on the equity in their current home to help buy their next home. The more equity you have, the larger the possible down payment for the trade- up home.

Home equity also equals security, especially at the beginning of a mortgage loan, so little of your payment goes to principal that equity builds slowly.

Home made of money with words Home Equity beside it
Home Equity

Naturally, building home equity comes at a price, usually in the form of larger payments. If building home equity means incurring debt to make ends meet, then you’ve defeated the purpose of building equity in the first place.

One way is to make additional principal payments. Additional principal payments make sense when you save more on your mortgage interest expense on an after-tax basis than you would earn on your investments on an after-tax basis.

If you are able to deduct your mortgage interest from your income taxes and your marginal federal income tax rate is 27 percent or higher, then your after-tax cost of mortgage debt is between 3 and 4 percent. For instance, if you earn 4 percent pretax on a five-year CD, and you’re in the 27-percent bracket for federal income taxes, the after-tax return is less than 3 percent.

Before you start making additional principal payments, use one of the many amortization calculators you can find on the internet to do the math – how much interest you would save if you made additional principal payments and how much it would shorten your loan and increase your home equity.

The other way to build home equity faster is to refinance. Recently, the reason most people have refinanced is to lock in a lower interest rate and/or lower their monthly payment. But you can also refinance to shorten the term of your mortgage, which builds equity.

If you had a $200,000 30-year ARM at 8.13 percent and replaced it with a 15-year fixed rate loan at 6.75 percent, your monthly payment would go from $1485.69 to $1769.82.

Most sellers use part of their equity to pay selling costs, such as brokerage commissions and transfer taxes. Also, if you are delinquent on your property taxes, or have other liens secured against the property, such as an IRS tax lien, these would have to be paid at closing.

Want to find out how much equity you have? Visit https://ercteam.exitcentralhr.com/sell/ and see!

1812 Silveria Street, Virginia Beach, Virginia 23464

Property Details for 1812 Silveria Street, Virginia Beach, Virginia 23464

Hurry, you don’t want to miss this beautiful 5 bedroom home! The 5th bedroom is the finished room over the garage. Equipped with beautiful hardwood floors in the great room, dining room, foyer and front staircase. Large first floor office enclosed with french doors. The home is wired for surround sound for your entertainment. Easy access to major highway.

For More Information, Please Call 757-466-1009

See Other Houses for sale in Woodbridge Point!

3512 Deep Creek Boulevard, Portsmouth, VA 23702

Front of property located at 3512 Deep Creek Boulevard, Portsmouth, VA 23702
3512 Deep Creek Boulevard, Portsmouth, VA 23702

Property Details For 3512 Deep Creek Boulevard, Portsmouth, VA 23702

Quality renovation! This charming and spacious Spanish style home is a gorgeous remodeled 4 bed, 3 bath with 2000 sq ft of living space. Inviting Large front porch. 1/2 Acre fenced in yard, deck and Storage Shed. Large living room and formal dining room. 9 ft ceilings. 1st floor bedroom and full bath. Large Master bedroom with full bath. Upgraded electrical, new light fixtures and ceiling fans throughout. All new plumbing throughout. New kitchen with 42″ high end cabinets with soft close and granite counters w/decorative back-splash. New Stainless Steel appliances package: Refrigerator, Electric Stove, over the range microwave and dishwasher. New double 9″ deep sink w/single faucet with sprayer and garbage disposal. Bathrooms with soaker tubs, Ceramic Tile to ceiling and high end vanities with granite/marble. Close to shipyard, bases, and interstate.

For More Information, Please Call 757-466-1009

See Other Homes In the Highland Biltmore Neighborhood!

The Most Important Strategy For Selling Your Home…

House with words setting the right price

When it is time to sell your home, you want to price it to yield as much return as possible. Pricing strategy is one of the most important elements in selling your home.
A market analysis of your home will help you determine value. This involves analyzing the current competition–other like properties currently on the market. I’ll look at properties that have already sold, to determine what people have been willing to pay for similar properties. I will also analyze properties that haven’t sold, some of which are overpriced.

The goal is to price the property accurately for the marketplace. You don’t want to leave money on the table, but you don’t want to overprice your home either. If you overprice the property, you risk having your home sit on the market. Then you may have to drop the price below what you could have received if it had been priced correctly to begin with. Upon seeing a home that is fairly priced, most motivated buyers offer full or almost full price.

When you are ready to sell, I’ll be happy to stop by for a quick view of your home. Together we will price it to sell for top dollar, in the shortest amount of time, with the least amount of inconvenience to you! Please call us at 757-466-1009 and let’s get started!

How To Find Your Perfect Neighborhood!

A Neighborhood with the words Your Perfect Neighborhood? Your Perfect Neighborhood?

Finding the Right Neighborhood

When you think about your dream home, are you seeing the house, or the neighborhood it’s in?

It’s easy to get caught up in bedroom and bathroom counts when you’re shopping for a new home, but the biggest choice you’re going to make in the process is of course the ‘where’ question. So how do you find the home that’s going to be the perfect fit for your whole lifestyle?

Here are three of my favorite tips to see if an area or a particular area is right for you:

  • Check out the basic stats.
    What is the median sale price of homes in a given neighborhood? How do the local and nearby schools perform? What amenities are nearby? How popular is the neighborhood in today’s market?
  • See what the neighbors are doing.
    Get a sense of local activities, and see if it looks like a place with frequent block-parties or if people may keep more to themselves.
  • Learn the traffic patterns.
    Knowing that you’re close to the highway or a public transportation center is one thing. You should find out if there are frequent jams at key commuting times, or if a nearby farmers’ market limits road access during weekends. You may also want to consider how much parking is available, both for yourself and for when you want to entertain.

Give us call anytime you’d like to discuss which neighborhoods you’re considering. We’d love to talk about local real estate issues and market conditions you should consider as you’re building your home buying plan.

EXIT REALTY CENTRAL
(757)466-1009

SOLD! 225 E 40th Street, Norfolk, Virginia 23504

Front of property located at 225 E 40th Street, Norfolk, Virginia 23504
225 E 40th Street, Norfolk, Virginia 23504

Alright! We SOLD This One Already!

Brick ranch. 3 beds 2 baths. Ready for rehab. Desirable neighborhood. Newer roof.

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Or call 757-466-1009 for more information!

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- Home For Sale

Meet REALTOR® EuNice Smith!

Everyone is always looking for the right agent with the tools and knowledge of Real Estate. If you’re looking to sell your home, purchase, or have any questions regarding Real Estate, EuNice Smith can be your Solution.
She’s a Real Estate Professional. Whether you’re looking to buy, sell, 1031 exchange, or have any inquiries or questions, she’ll be readily available to tackle all your problems or assist in achieving your desires in Real Estate. 
Need some assurance? She is backed up by a seasoned Real Estate Group of EXIT Realty Central, an International Corporation located all across the U.S. 
Your goals, are her goals. If your goals are achieved, then everybody wins. 
EuNice is passionate about educating buyers and sellers on the real estate process and helping them find their dream homes. She also strives to help buyers gain financial freedom by investing in income properties. By taking advantage of the latest internet marketing tools, EuNice presents the properties she represents to the widest possible range of qualified buyers. She is often described as detailed oriented, honest, hard-working, innovative, and a pleasure to work with. 
EuNice was born and raised in Chesapeake and has never known a better City than this one, and the surrounding areas. She started working in Real Estate in 2018, and in 2019 as a Real Estate Agent for EXIT Realty Central.
Coming from a background in Computer Science, Banking and Finance, Construction, Mortgage Loan Industry., Loan Signing Agent, Notary Public, Property Preservation Home Inspections, and Property Valuation/assessments experience, she grew further to understand Real Estate as a Real Estate  Agent. She’s ready to  assist clients find their dream home and grow the EXIT franchise. Let EXIT Realty Central be your solution in Real Estate.
 EuNice also enjoys traveling, watching basketball, listening to music and live bands at the local restaurant’s and outdoor events. She also strives to be a good citizen by volunteering for various organizations.

Call me at 757-439-2293 to get started!

Meet Michael Cobb, REALTOR®

Do you want mediocre service, or demand inconsistent communication from your Real Estate Agent?

Does it makes sense to hold your professional agent to a lower standard than you hold yourself?

While that may seem a silly question, it’s important to know your answer before you continue reading. If you hold your agents to a higher level of expectation, and want the best experience possible, then Michael is the agent for you.

Like any quality relationship or marriage, Michael believes that establishing expectations early and practicing clear communication is the key to success in any Real Estate transaction.

Michael is an agent who works primarily through referral; he devotes himself to serving the needs of his clients before, during, and after each transaction. Where most other agents spend the majority of their time and resources prospecting for new business – things like door knocking or cold calling – Michael doesn’t have to, and will do an even better job working for you with complete focus and attention.

Your seal of approval and enthusiastic referral is Michael’s main priority, here are a few key services he excels at providing…

Finding Your Next Home:
Did you know there’s a wrong way to look at homes? Finding your next home is not a process of selection; it’s a process of elimination. Once Michael has a good idea of the type of property you’re interested in, he will begin the process of eliminating neighborhoods and styles of homes that you’re not interest in.

Michael will have done his job when you feel educated to the point that when you walk across the threshold of a home, you’ll know what you like, you’ll know it’s a good deal, and you’ll be ready to buy.

Selling Your Property:
When it’s time to move, challenges will happen. You need someone who will follow knows the Complete Home Marketing Blueprint inside and out: advertising your home, showing to prospective buyers, negotiating the uncomfortable details, arranging financing, overseeing the inspections, handling all the paperwork and supervising the closing. Michael will take care of everything you need, from start to close.

Speaking of negotiating
Do you want to answer your phone at 7 in the morning and handle an upset buyer or seller… only hours before closing? Not only is it important to know how to negotiate the best deal and leave no money on the table, Michael also understands the importance of negotiating through the emotionally charged situations that always arise when making a substantial life change. 

As an agent who is also a Military Spouse and relocated to Hampton Roads, Michael uniquely understands the frustration and challenges of first time home-buyers and new arrivals in the area. Born and raised in Fort Worth Texas, Michael graduated from Texas A&M University in 2015 and moved to Hampton Roads two weeks later, while his wife was deployed in the Persian Gulf aboard the USS Gonzales.

Michael used his passion in Real Estate to meet new people, increase his knowledge of the local area, and build up his network. As an active member of TRIG – the Tidewater Real estate Investment Group – Michael has access to the largest buyer’s group in Norfolk, Virginia Beach, Chesapeake and Portsmouth.

Whether you’re an investor who is buying or selling a Fixer Upper, a young professional who is looking for her first house, or a family looking for your next home, Michael has the skills and connections to help you reach your closing day quickly and with peace of mind.     

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Exit Realty Central

Meet Kisha Prisinzano, Realtor®

Kisha  Kelly Realtor
Kisha Prisinzano

I am a proud Hampton Roads native and have called Coastal VA my home for over 20 years.

I am a dedicated and motivated business woman with over 10 years of property management and real estate experience and enjoy working diligently with my clients.

I am a member and in good standing with the National Association of Realtors (NAR), Virginia Association of Realtors (VAR), Hampton Roads Realtors Association (HRRA), Real Estate Information Network (REIN), Multiple Listing Service (MLS), Professional Association of Businesses (PAOB) and have actively served with the Hampton Roads Apartment Council (HRAC).

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EXIT Realty Central

As Hampton Roads Realtor Associations Circle of Excellence award recipient, you can expect the highest level of service, integrity and commitment.

My business model is effectively built on communication and consideration of my clients needs, which enables a successful property transaction. My passion for building solid relationships with my clients helps me to navigate them through the complexities of today’s real estate market.

Call Kisha Prisinzano and get started! 757-943-9211

2635 Barclay Avenue, Portsmouth, VA 23702

Front of property Located At 2635 Barclay Avenue, Portsmouth, VA 23702
2635 Barclay Avenue, Portsmouth, VA 23702

Property Details For 2635 Barclay Avenue, Portsmouth, VA 23702

Great investment opportunity or fixer-upper here! 3 bedroom 1.5 baths in the Highland Biltmore neighborhood. Home has large living room and a separate dining area. Detached garage with additional storage shed off back as well as a covered carport. Huge backyard with tons of potential. Several new and remodeled homes in the area.

See Other Houses In Highland Biltmore!

Or Call 757-466-1009 for more information!

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- Home For Sale