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Monthly archive for October 2018

What is a Mortgage Escrow Account and Why is it Needed?

By on October 28, 2018   /   Home Buying  
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When you buy a home using a mortgage, an escrow account is usually set up by your lender in order to help manage your property tax and insurance costs. Rather than having to save up and pay these bills separately, part of your mortgage payment is deposited into the escrow account every month. When your insurance premiums and taxes are due, they can be paid via the escrow account. Normally, your lender will use the funds in the escrow account to pay these bills on your behalf. Escrow Shortages It’s not uncommon for property taxes and insurance premiums to change over time,

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Good news and bad news for home buyers: Price cuts on the rise, but size of reductions getting smaller

By on October 17, 2018   /   Real Estate  

There were significantly more homes that experienced a price cut in August, according to new data released by Trulia. According to a report by the real estate listing site, 17.2 percent of US listings had a price reduction, an increase from 16.7 percent in August 2017. This marks the highest level of price cuts since 2014. The Good News – More Homes Are Getting Price Cuts Trulia’s report revealed that in the first half of 2018 the share of listings with a price cut held steady from 2017; however, the number began to climb in July and August. The report indicates

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Rocky River

20545 Center Ridge Road
Suite 250
Rocky River, OH 44116
Phone: (440) 356-3242
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