Rancho Palos Verdes, Redondo Beach, Torrance real estate and homes for sale in California, Hollywood Riviera and beach area - Jack McSweeney, REALTOR® Jack McSweeney REALTOR(r) for Rancho Palos Verdes, Redondo Beach, Torrance, California real estate, Hollywood Riviera and beach area - NUMBER1EXPERT™ Jack McSweeney NUMBER1EXPERT(tm) for Rancho Palos Verdes, Redondo Beach, Torrance, California real estate, Hollywood Riviera and beach area
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Real Estate Tips
Financing Your Home >When Interest Rates Rise

Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Real Estate Trivia
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What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?

A 
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.
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Jack McSweeney, REALTORŪ, real estate agent and broker for Rancho Palos Verdes, Redondo Beach, Torrance California home listings, property and land for sale - NUMBER1EXPERT(tm)

Jack McSweeney, CDPE, SRES, E-PRO, PVS
Re/Max Palos Verdes - EXECS

63 Malaga Cove Plaza
Palos Verdes Estates
California 90274
Office: 310 378-9494
Cell: (310) 346-0391
Fax: (310) 802-3838
Email Me Direct:: jack@mcsweeney.com

I am full-time Realtor, Certified Distressed Property Expert and Consultant. I have been licensed (#10272230) since 1988, specializing in Homes and Residential Commercial real estate in the South Bay area of Los Angeles including Rancho Palos Verdes, San Pedro, Lomita, Redondo Beach, Hermosa Beach, Manhattan Beach, El Segundo and Torrance. I am a member of the Palos Verdes Association of Realtors, Board Certified Palos Verdes Specialist, California Association of Realtors, National Association of Realtors. A Member of the REMAX Hall of Fame. I have an extensive financial and management background as a former Member and Specialist on the Pacific Stock Exchange. I am professional. I understand the South Bay real estate market and will confidently guide my clients to achieve their real estate goals. Experience... It Works everytime!

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