Meet Mike Watkins Real Estate Group Our Story: The Mike Watkins Real Estate Group was founded in September 1995. After many years with a traditional real estate company, Mike opened his practice at 633 LibraryPark in Greenwood, Indiana. His dream was to have a Team Concept with a few professionals working together...not in competition with one another. He also wanted to add one special ingredient...FUN. This concept has worked well with the Mike Watkins Real Estate Group. Through the Team Concept, we became one of the most successful real estate groups in the United States and have had fun doing it. Due to it's success, many other real estate firms have both emulated our Team Concept and shadowed us in action to learn how it works. Our team concept has enabled thousands of people to either buy, build or sell a home with the fewest possible hassles. Each team member is cross trained to assist in all aspects of the real estate business, but specializes in one part of your transaction.  |  | | | | |
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First Time Buyers >The Down Payment
Perhaps no single decision in a real estate purchase has more variables than "How much money do I put down?" Conventional wisdom centers around either putting down as much as you can or as little as the lender allows.
If you put down a large payment, you get some leverage with the lender, such as little or no mortgage insurance, a good equity position, and perhaps a preferred mortgage deal. You will also have lower mortgage payments. One potential disadvantage of a large down payment is that you will be using after-tax dollars on which you could be earning interest. You will also have less tax-deductible interest.
When you buy a home with a low down payment, you will have more tax deductible interest, and your investment value percentage will increase faster. You will have little equity at the outset, and your monthly mortgage payments (and perhaps your interest) will be higher. However, you will also keep more of your own money in hand to potentially earn more interest in other investments.
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| Q |
Which home is considered the ultimate in California craftsman-style architecture?
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| A |
Located in Pasadena, the Gamble House, built in 1908 by Charles and Henry Greene, is a National Historic Home open to visitors.
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