Schuylkill County Real Estate: February 2009

March 2009 Blood Drives in Schuylkill County

The American Red Cross Bloodmobiles for the month of March 2009 held in the following locations (times and sponsor information also included):

Date: Location: Time Sponsor

Tues. March 3rd Elysburg Presbyterian Church 1-6 320 West Valley Avenue, Elysburg

Tues. March 3rd The Academy for the Blessed 1-6 in Honor of Senator Rhodes Virgin Mary 29 S. Catawissa St and Gino Capone Mahanoy City

Wed. March 11th St. Stephen’s Church Hall 1-6 the Shenandoah Rotary Shenandoah

Mon. March 16th Schuylkill Medical Center 9-3 Schuylkill Health and Jackson St Campus, Pottsville Pottsville Rotary

Tues. March 17th Auburn Fire and Ambulance 1-6 Auburn Fire and Ambulance

Thurs. March 19th Jerusalem Church, Schuylkill Haven 12-6 the Council of Churches

Fri. March 20th St. Clair Wade Methodist Church 1-6 SCCHS

Sat. March 21st Fairlane Village Mall 10-2 in honor of Ziggy Eubanks

Mon. March 23rd St. Pauline’s Center 1150 Chestnut St Kulpmont

Tues. March 24th St. Barbara’s Hall, Minersville 12-6 the Lions. the Rotary, the Council of Churches and the Minersville Women’s Club

Wed. March 25th Salvation Army Gym, 1-6 Tommy’s Hoagie Shop 105 W. Broad St Tamaqua 41 N. Railroad St Tamaqua, PA 18252 Also in honor of Stephen Risteter

Thurs., March 26th Pine Grove Ambulance Building 1-6 Pine Grove Ambulance

The American Red Cross is very grateful to the public for their response and we need the continued help of our donors that give blood in their communities. Every single donation makes a difference in the blood supply in your community.

Anyone who is at least 17 years old, who weighs at least 110 lbs., and is in general good health is asked to give blood at this time.

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


Schuylkill Chamber of Commerce March Events

February is almost over and we will turn our calendars to March shortly. Let the March winds clear the cobwebs of Winter and join us for any of these upcoming events. Tonight at 6 pm from the comfort of your own living room-

For those of you who were unable to make the February Business Before 9 O’clock Breakfast, the debate for the 29th Senatorial District between Rep. Dave Argall and Steve Lukach will air on Service Electric Channel 19.

Sunday, March 8 – Daylight Savings Time ends and we lose a hours sleep! Remember to “Spring Forward” and reset your clocks.

Wednesday, March 11, the Networking Before 9 O’clock, sponsored by St. Joseph Center for Special Learning, features Sharon Angelo, CareerLink. Sharon will clue you in on all of the HR services offered by the CareerLink. Breakfast begins at 7:45 at The Porter House Grille.

Tuesday, March 17 - Network After 5 with KNBT and Golden Living Center, York Terrace and celebrate the “Wearing of the Green” and St. Patrick’s Day. Festivities begin at 5 pm at The Greystone Restaurant.

Thursday, March 12 at noon is the deadline for submission of information for the Monthly Member Memo. The MMM is emailed on Friday, March 13 at noon. Submit your articles via email to vanessa@schuylkillchamber.com. Please do not supply PDF files!

Wednesday, March 25 - Wilkes Small Business Development Center is presenting a seminar on “How to Survive in Tough Economic Times” from 9 to 11 am at the Schuylkill Chamber conference center. If the economy is impacting your business, make plans to attend. There is no cost for this session, but registration is required.

Wednesday, March 25 – Schuylkill Women in Business meet at 11:45 am at Roma Pizza’s Oak Room to hear from Joe Palko, The House Doctors Handyman Services, on Tips to Spruce-Up Your Home for Spring. Cost is $15 for chamber members and $17 for non-members. Deadline for reservations is Monday, March 23.

Tuesday, March 31 – Schuylkill Women in Crisis presents “Domestic Violence and It’s Impact on Your Business!” Don’t hide your head in the sand and ignore this issue. Join SWIC from 11:30 am to 1:00 pm at the Schuylkill Chamber conference center. Cost is $15 per person and includes lunch. Registration is required.

Thursday, April 9 – If your SMARTboard is outsmarting you, then you want to be at the Schuylkill Community Education Council, Rockwood Center, from noon to 3:00 pm as Terence Laughlin informs you on how to tame the beast. Cost is $50 per person, or $40 per person for 3 or more from the same company. Reservations are required.

Flyers on all of the events listed above can be found at www.schuylkillchamber.com/newsletter.htm. Keep up to date on all the the happenings of the Schuylkill Chamber by checking our website – www.schuylkillchamber.com. The current edition of the Communicator is available to view online (click on the photo) or as a PDF download, and you can find all the event flyers and calendar of events. Simply click on the “Monthly Newsletter” tab in the bottom left corner of the main page.

 

 

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


Understanding The New First-Time Homebuyer Federal Income Tax Credit

Via Century 21 First Realty:

With all the new information floating around the internet about the First-Time Homebuyer Federal Income Tax Credit, I figured a quick summary and a dynamite link to an explanation page was in order.

Last week, our new President signed the American Recovery And Reinvestment Act of 2009, which included significant improvements to the temporary First-Time Homebuyer Tax Credit. At a bare minimum, it raised the maximum credit from $7,500 to $8,000, but there was so much more.

Follow This Great Link To Summary Of First-Time Homebuyer Federal Tax Credit

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


Feb. 27-March 1 Schuylkill County Happenings

February 27 & 28 The Black Renaissance Comedy Tour Friday, February 27, 2009 8:00 p.m.; Saturday, February 28, 2009 8:00 p.m., Sovereign Majestic Theater, 209 North Centre St., Pottsville. Tickets: $20.00. 18 and over only. These four comedians, L.A. Hardy, Quevaughn Bryant, Kurt Green and Marvin Lee, take you on a non stop laugh fest that touches all aspects of our lives, while bringing America into the true nature and diversity of black culture. 570-628-4647 www.sovereignmajestic.com

February 27 An Irish Pub Experience with Music & Book Signing at the Lazy Dog Coffeehouse 7-10 pm, Lazy Dog Coffeehouse, 18 E. Sunbury Street, Minersville, www.lazydogcoffeehouse.com. Irish Roads & The Pipes Are Calling. Poet, lyricist and novelist Loretta Murphy will transform the Lazy Dog into an Irish Pub experience with a night of dinner, music, readings, story telling and book signing. Irish Roads is a collection of poems inspired by Loretta's recent pilgrimage across Ireland. The Pipes Are Calling is a novel laced with romance, coal-country (Molly Maguire) history, and the lure of Ireland. Loretta and guitarist, Paul Noon--aka "The Troubles" will perform original music as well as folk songs from the 60's, 70's and 80's. Books on sale now $24.95 + tax each. Call 570-544-4800 to make your reservation.

February 27 Entertainment at Blue Mountain Summit 7 - 10 p.m., Blue Mountain Summit, 2520 West Penn Pike, Andreas (Route 309 halfway between Tamaqua & Allentown). Dave Mell. 570-386-2003.

February 28 Registrations for both Adult and Children/Teen Theatre Workshops 10 a.m. - 11:30 p.m., The Strawberry Playhouse, 60 Church Street, Tuscarora. Enjoy the theater, but don’t want to be on stage? Needed: Directors, Stage Managers, Technical support stage crew , costumes, and more. Information: 570-325-4368, lafala@ptd.net

February 28 Trek to the Tower 2:00-4:30 p.m. with “Porcupine Pat.”Hike to the Silver Creek Fire Tower on scenic state forest land above Saint Clair. Meets on the Burma Road about one mile outside of Saint Clair for carpool to state forest parking lot further up the road. (three miles – moderate). All hikes are free and open to the public. Poor weather cancels and participants should dress for comfort. For more information visit: www.schuylkillonthemove.com or email: porcupinepat@yahoo.com or 570.622.4124 x 113.

February 28 Sherry Marchefsky at The Lazy Dog Coffeehouse 8-11 pm, Lazy Dog Coffeehouse, 18 East Sunbury St., Minersville. Berks County native and local favorite. Sherry’s eclectic style and untamed lyrics are the medium for which this singer/songwriter delivers her remarkable anthems rooted in jazz, rock, and soul. $3.00 music charge. 570-544-4800. www.lazydogcoffeehouse.com

March 1 Musical Entertainment at The Porter House Grille "Down to Earth Band" 9 pm to 12 am, The Porter House Grille, 100 S. Centre St., (located at the Ramada Inn) Pottsville. No Cover Charge. 570-622-4707. www.porterhousegrille.com

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


Celebrate Schuylkill: May 2 ... Looking for goups now!

2nd Annual Celebrate Schuylkill!

Does your group or organization host an ethnic or cultural celebration? Help celebrate the vibrant diversity and heritage of Schuylkill County during our 2nd Annual Celebrate Schuylkill event on Saturday, May 2 from 11 am to 5 pm at Fairlane Village Mall. Showcase your ethnic or cultural events! Sell the ethnic foods and crafts that shoppers will be craving! Share your information about the county's heritage! This is an opportunity for you to promote your particular items, FREE OF CHARGE, and join in the fun as we celebrate Schuylkill!

Download a registration form by clicking here:

http://www.shopfairlanevillage.com/content/images/pdf/vendor_package.pdf,

or call (570) 429 - 1563 for more info. Registration deadline is April 17, 2009.

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


Feb. 27 Deadline to apply for property tax cut

Last year, state-funded tax relief began reducing property tax bills on primary homes and farms. However, many property owners missed out -- you have to be signed up through the homestead or farmstead exemption to qualify. The deadline for the applications is Friday, Feb. 27. (This year, the March 1 deadline falls on a Sunday.)

Only properties registered as homesteads or farmsteads are eligible to receive a property tax reduction through what’s known as the homestead exclusion. A homestead must be a Pennsylvanian’s permanent primary residence on which property taxes are paid. Each year, school districts are required to mail notices of this by Jan. 1 to all owners of residential properties that aren’t already registered.

To receive a homestead exemption, a resident must submit an application to the county assessor. If you're not sure whether your home is already approved for the exemption, contact your county assessment office:

• Schuylkill County: 570-628-1024

 

If you need an application, please call your school district’s business office:

• Blue Mountain, 570-366-0515

• North Schuylkill, 570-874-0466

• Pine Grove Area, 570-345-2731

• Pottsville Area, 570-621-2900

• Schuylkill Haven Area, 570-385-6736

• Schuylkill Valley, 610-916-0957

• Tri-Valley, 570-682-9013

• Williams Valley, 717-647-2167

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


$8,000 Credit for Home Buyer in New Stimulus Plan

Via Roger Johnson, Realtor - Hickory NC Real Estate (CENTURY 21 American Homes):

Recent news reports that the initial review of the new stimulus plan has indeed cut out the proposed $15,000 tax credit for home buyers.  But, apparently, there is a new proposal in the new stimulus plan for an $8,000 tax credit.

There aren't a lot of details as of yet, but this tax credit would be for first-time home buyers only (not any home buyer, as was with the $15K plan) and it would be an actual tax credit.  In others words, it will not have to be repaid.

At this time, it's unclear exactly when the tax credit would take effect.  It could be at the signing (and President Obama wants to sign by Monday at the latest), or as it's been rumored, it would count toward anything bought as of Jan. 1st, 2009.  The tax credit would run until either July 31st or Aug 31st (again, details vary here).  You'd have to purchase a home by that time in order to qualify.

There has been no word at this time whether or not this new credit, if passed, will cancel the previous $7,500 1st time home buyer tax incentive.  The current $7,500 plan must be repaid over a period of years.

2/21/09 UPDATE: Here's a link to my newest post on the subject: $8,000 Home Buyer's Tax Credit: Things to Know

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


I Hate My Real Estate Agent -- Now What?

I have an office policy that states ANY client who is dissatisfied with our service may request to be released from our listing or buyer's agent contracts. I don't want unhappy clients or bad word of mouth. Not all firms operate that way, but it's worked for me.

Via Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance):

 

Don't Voodoo Your Agent -- Get a New One!Okay... hate is a strong word and one that my mother told me never to use.  Let's say you dislike them or just don't enjoy working with them anymore.

So, you're working with a real estate agent and things have gone sour.  Maybe your agent is not available according to your schedule.  Perhaps they don't return your phone calls.  Do they show you homes that they like but not ones that you like?  Whatever the reason, you've decided that you no longer wish to work with that particular REALTOR.

Now what?

Are you stuck?  Are you locked in to work with this agent?  What can you do?

Have you signed an agreement?

There are two basic types of agreements that somebody signs when they decide to work with a real estate agent.  If you are selling your home, you will always sign a listing agreement.  If you are working with an agent to purchase a home, you may have signed a Buyer Broker Agreement.

You should know your broker's obligations under these agreements:

Selling Your Home -- Know the Broker's Duties

Ready to Buy a Home? Know Your Buyer Broker's Duties

Listing agreements and buyer broker agreements have expiration dates. 

It is unethical for another real estate professional to solicit your business while you are still bound by one of these agreements.  However, it is perfectly okay for you to contact another agent when you are dissatisfied with your current one, even while the agreement is still in effect.

Please check any agreement you have signed for a clause that mentions a payment to terminate the agreement.  Some agents make you pay to stop working with them before the agreement is over.  I don’t think this is a good business practice.  If your relationship is not working, it’s not working.  I’ve never charged somebody to get out of an agreement.  Nevertheless, some agents do this and you want to be careful not to be stuck owing your former agent money.

Once your agreement has expired, you are entirely free to start working with an alternative agent.

If you have not signed an agreement, realize that there is nothing keeping you bound to “your” real estate agent.  This agent may have driven you all around town for two weekends, but without an agreement, they’re just counting on your loyalty.  But, there’s nothing keeping you legally bound.

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


April 18: Week of the Young Child Festival

The Community Engagement for Early Childhood Education Team of Schuylkill County, a program of Child Development, is sponsoring the second annual Family Fun Festival on April 18 from 11 a.m. to 4 p.m. at the Schuylkill County Fairgrounds to kick off the Week of the Young Child.

The festival is a free event that is open to the public. Last year, 2,900 were in attendance. The event is advertised via public forums on radio, TV and newspaper. Additionally, flyers will be sent home with all children in Schuylkill County via their elementary schools and/or child care providers.

The Schuylkill County Commissioners issue a proclamation in support of the Week of the Young Child and the community events that are a part of it. All businesses, community organizations, child care providers, school districts and community partners are invited to be a part of the day for a nominal fee. Registration fee is $15 before February 25, and $25 afterward.

Registration will be accepted up until March 31. Electricity, water and restrooms are available. All you need to do is bring your marketing materials along with a fun craft or activity for the children. For more information, or to register, contact Regina Gargano, Coordinator, at 570-385-3986 x 221 or 570-292-6839. or email rgargano@childdevlop.org.

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.

 


To pay points or not pay points, tis that thy question?

Buyers frequently are so confused when comparing loans. Here is a GREAT explanation of why you should/should NOT pay points. Thanks Jason for writing this field guide to points.

Via Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans):

Yes, let us now enter into the wonderful world of paying points (or not paying points) when getting that loan to buy or refinance a home.  Before I go into my piece of advice though, I should explain how I make money as a Mortgage Broker (wait for shameless plug..........) here in beautiful Allentown, Pennsylvania.

On the mortgage side of things, we make our money one of two ways.  Wait... I'll reduce this to how Mortgage Brokers make their money.  I'll let Mortgage Bankers, Direct Lenders, etc... be transparent about their profit margin (though it is eerily similar;-).  As a Mortgage Broker, I make coin by either charging fees on the Good Faith Estimate (Broker Fees, Origination Fees, Processing Fees, and the like) and/or in charging a higher interest rate in which case the lender pays me.  The latter is what is known as Yield Spread Premium.  Mortgage Brokers disclose it, Bankers don't have too.

Still with me?  Let's say my company wants to average 2% on every transaction we close.  I can charge you a 1% origination fee on the Good Faith Estimate and bump up the interest rate a smidgen so the lender pays me 1% on the back end.  Or, I can charge you 2% origination on the Good Faith Estimate and give you what is known as the par rate (which is simply the very lowest wholesale rate you can get without paying discount points directly to the lender to buy it down further.)  Let's say that you want one of those "no fee loans"... then I'll simply bump up the interest rate so that the lender pays me the 2%.  When you deal with a Mortgage Broker or Lender, everything is negotiable.  I've made loans for 1% and some for up to 4%.  That depends on a lot of factors, to be discussed at a later date.  Do also remember, my time and service are not negotiable.

What does all this mean?  Unless we go back to the bartering system (in which case I have a killer set of fine china)... we are all making money in our respective professions.  So, now that you get the gist of how we make our money, onto the wonderful world of paying points and whether you should or shouldn't.

Whether you are buying a home or refinancing a home and plan on being in that home for a long time, you are probably better off paying points to get the lowest rate possible.  Why?  Quite simply, the money you will save with a lower rate will recoup that fee and then some.  Plus, you'll be paying a bit more towards your principal balance.  Brief example as follows:

  • You are taking a loan of $200,000 and you plan on being in that home for at least 10 years.   Let's say with no points you can get a rate of 6.25%.  But, if you pay 2 points ($4000.00 or 2% of the loan amount) you can obtain a rate of 5.75%.
  • On a 30 year fixed mortgage, your principal and interest payment on that loan with a 5.75% rate would be $1167.15.  Conversely, your payment with a 6.25% rate would be $1231.43.  That's a savings of $64.28 a month.  That's a annual savings of $771.36.  Well, to recoup the fees you paid to the man or woman behind the mortgage, you'd have to be in that home for at least six years.  Make sense?

On the other hand, if you are only going to be in your home for a short time, you may go a different route.  Let's say you are buying a home and really only have enough money for the minimal down payment and applicable closing costs.  In that case, you may ask your loan officer (until I get a badge, I hate that term) to waive his/her fees on the front end.  That will translate into a higher rate.  But it will also keep you from dishing out more money at the closing table.

Let's say you want to refinance your home to get some cash-out for home improvements.  Perhaps you plan to turn around and sell the home a year or two down the road.  In that case, it may also make sense to pay a little bit of a higher rate and reduce fees on the front end so you aren't eating at your equity with those costs.

Again, consult your Mortgage Professional and run the numbers.  If you need one and are buying in or refinancing in Pennsylvania (shameless plug ahead.....) I'm your boy man.  Situations are different and your loan program should reflect what makes the most sense for you.  This is truly a case by case basis.  What makes sense for Uncle Henry or Neighbor Jane, may have nothing to do with what makes sense for you.

I've outlined some brief examples of where paying points may make sense and other situations where... well, not so much.  Understanding how we make our money is important.  Understanding how to make the best use of yours is even more vital.

 

 

 

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA.

If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006.

We can meet all your buying / selling needs ... and will exceed your expectations. That's what being an EXECUTIVE is all about

Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search!

We also operate Schuylkill Appraisal Services, for all your appraisal needs.