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Blog Archives: November 2015

What’s Ahead For Mortgage Rates This Week – November 30, 2015

November 30, 2015
  Although last week’s economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims was also released. FHFA, Commerce Department report Gains for Home Prices, New Home Sales Home prices for mortgages associated with mortgages owned or backed by Fannie Mae and ...

Did You Know? Why a Mortgage Pre-qualification Meeting Might Be Your Best Use of 5 Minutes

November 27, 2015
So why should you go to a mortgage pre-qualification meeting with a mortgage lender? Here are just a few reasons why it’s a great idea. It’ll Give You A Good Idea Of How Much House You Can Afford A mortgage pre-qualification is not the same thing as a pre-approval. When you pre-qualify for a mortgage, your lender will use information that you provide – information like your debts, your income, and your assets – to determine what size of a mortgage you can afford. This affordability information discovered during pre-qualification is then ...

Remodeling 101: How to Create a Proper Budget for Any Renovation, Large or Small

November 25, 2015
Determine What Is Most Important Whether it’s the tile floor in your bathroom or the outdated kitchen sink, if the need for an upgrade in a certain part of your home has been staring you in the face for a while, you’ll want to begin there. By determining your first priority and the no-frills cost assessment of completing it, you can arrive at the cost of what renovating the item will mean. Once you’re in the ballpark, you can then move on to any additional features or accessories that may perk up your basic renovation. Add A Little Extra To ...

How Do I Know If I Am Ready To Buy A Home?

November 24, 2015
  How Do I Know If I Am Ready To Buy A Home? As you’ll see in this video, you can find out by asking yourself some questions: Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable? Do I have a good record of paying my bills? Do I have few outstanding long-term debts, like car payments? Do I have money saved for a down payment? Do I have the ability to pay a mortgage every month, plus additional costs? If you can answer “yes” to these questions, ...

What’s Ahead For Mortgage Rates This Week – November 23, 2015

November 23, 2015
  Last week’s economic events included reports the National Association of Home Builders Housing Market Index, Housing Starts and the release of minutes for the most recent meeting of the Fed’s Federal Open Market Committee. The details: NAHB: Builder Confidence in Housing Markets Dips The National Association of Home Builders reported that builder confidence dropped to a reading of 62 as compared to October’s revised reading of 65. Any NAHB reading above 50 indicates that more builders are positive about market conditions than not. NAHB’s ...

Goodbye, Junk! 5 Tips for Reducing the Amount of ‘Stuff’ You Need to Move to Your New Home

November 20, 2015
There is no point in waiting until after a move to go through the junk lying around, as tempting as it may be, so here are five ways to decide what should find a new home before a move. Before starting the move, grab some garbage bags and do a sweep of the house, making sure to toss out anything that needs to go to the dump. This will clear up the home of anything unnecessary and makes it easier to throw out some items when there’s no decision making pressure. A new home often means new furniture. By deciding in advance which items will be ...

Embracing a Bidding War: How to Choose the Best Offer for Your Home

November 19, 2015
When the market is hot some sellers are lucky enough to be in a situation where they see multiple offers come through on their property. Now the only decision left is which one to choose. It may be easy to look at the amounts offered and go with the highest one, but that is not always the wisest choice. There are several smaller factors that could mean the difference between a winning and losing bid. While an offer that comes in above the asking price can be very tempting, there is a risk that the entire sale can fall through if the buyer ...

What Are the Advantages to Paying off Your Mortgage Early? Here Are a Few That Might Entice You

November 18, 2015
If you’re looking into fixed term mortgages, you might be wondering whether there’s any reason why you should take the full term to pay off the loan. In a lot of cases, paying off a mortgage before it comes due is a great decision. If you’re considering paying off your mortgage early, you’ll experience a variety of benefits – here are just a few of them. By and large, the single biggest advantage of paying off a mortgage early is the money you’ll save in interest. The longer you take to pay off your mortgage, the more you’ll pay in interest ...

It’s Not Just a Mortgage: Understanding the Financial Implications of Buying a New Home

November 17, 2015
Outside of the mortgage, one of the other more marked expenses you’ll be paying when you delve into home ownership is property tax, which will be determined by the place you live in. While this amount can be quite pricy or more modest, you’ll be able to determine how it will impact your bottom line by dividing it into twelve monthly costs per year. In a small apartment where many utilities are often included, power and heat might seem like a minor cost, but a bigger space means a bigger cost when it comes to the basic necessities of home ...

What’s Ahead For Mortgage Rates This Week – November 16, 2015

November 16, 2015
Last week’s scheduled economic news was sparse due to no scheduled releases on Monday and the Veterans Day Holiday on Wednesday. A report on job openings was released on Thursday along with regularly scheduled weekly reports on jobless claims and Freddie Mac’s report on mortgage rates. Mortgage Rates, Weekly Jobless Claims Rise Mortgage rates rose last week according to Freddie Mac. The average rate for a 30-year fixed rate mortgage rose to 3.98 percent from last week’s reading of 3.87 percent. The average rate for a 15-year fixed rate ...

Expecting Children: How to Quickly Move into a Larger Home Before a Baby Arrives

November 13, 2015
Starter homes are incredibly popular for young couples who plan to have a family in the future but don’t need a large place yet. Life moves pretty fast sometimes and many couples find themselves expecting children before they have begun to look for the next home. This shouldn’t be a problem, as moving into a larger home before the baby arrives can be a lot easier than it appears. Always Move Before The Baby Is Born There is a choice when upgrading a home for children: moving beforehand and settling down in advance of having kids or waiting ...

Looking to Close Faster? Follow This Easy Guide to Speeding Up the Mortgage Process

November 12, 2015
If you’re buying a home, you’ll want to try to get your mortgage processed as quickly as possible. Improperly filed mortgage applications are one of the biggest reasons why home sales get delayed, and if you have a hard move-out date already set, it’s critical that your mortgage process goes smoothly. With careful planning, though, you can shorten the mortgage process and get your financing approved faster. Here’s what you need to do to speed up the approval. Get Your Paperwork in Order Before You Apply One of the biggest reasons why ...

Real Estate Investor Questionnaire

November 11, 2015
Fill out my online form. var zxik4p01h0ypo3;(function(d, t) { var s = d.createElement(t), options = { 'userName' : 'michaelminson', 'formHash' : 'zxik4p01h0ypo3', 'autoResize' : true, 'height' : '3840', 'async' : true, 'header' : 'show', 'host' : 'wufoo.com', 'entSource' : 'wordpress', 'defaultValues' : '' ,'ssl' : true }; s.src = ('https:' == d.location.protocol ? 'https://' : 'http://') + 'wufoo.com/scripts/embed/form.js'; ...

Pulling the Trigger: 3 Reasons Why You’ll Want to Move Fast when Buying a Home

November 11, 2015
With all of the care and consideration that can go into deciding if a home is the right fit, it can add a wrench to the mix to realize that you may not have a lot of time to put in an offer. It’s certainly important to weigh all of the factors of buying a home before deciding to put yourself in the ring, but here is why you’ll want to come to a conclusion quickly when it comes to a home you love. It’s An Ideal Home, For You And Many Others If you’ve finally found a home that you can see yourself and your family in, and you’re seriously ...

How Can I Improve My Home’s Value?

November 10, 2015
Buyers generally seek the least expensive home in the best neighborhood they can handle. Like the person in the video says, you want to present a home that fits in the neighborhood but doesn’t stand out too much. For example, if neighbors are all 4 bedrooms, 3 baths and 3000 square feet additions that make your home 5, 4, and 4000 will make yours harder to sell. Improvements should make it show well and fit well in the neighborhood. Last-minute capital investments in large structural changes arent likely to pay off. But cosmetic upgrades ...

What’s Ahead For Mortgage Rates This Week – November 09, 2015

November 09, 2015
Last week’s economic reports included releases on construction spending and several labor-related reports including ADP payrolls, Non-Farm payrolls, average hourly earnings and weekly jobless claims. Freddie Mac reported that mortgage rates rose as the national unemployment rate decreased to 5.00 percent. Labor Reports Show Mixed Results Key readings on employment showed mixed results as ADP payrolls decreased to 182,000 from September’s downwardly revised reading of 190,000 private sector jobs added. U.S. jobs expanded to a reading of ...

Market Ready Makeover – Bernal Heights

November 07, 2015
One of my favorite parts of my job is getting homes ready for the market.  We tell our clients all the time that the best way to sell a home is to vacant, painted and staged.  That works for 90% of the homes.  Sometimes, we recommend more improvements in order to maximize resale price. 204 Anderson is an example of a Market Ready Makeover we managed.  The house had previously been tenant occupied, and the sellers had done some really great improvements over time (like adding a skylight, building two bonus rooms and creating a garden) – it ...

Seller Stress: Ease the Stress of Selling Your Home with These Three Easy Tips

November 06, 2015
Despite all of the excitement that comes along with moving to a new area or home, it can also be a time of considerable stress. Whether you’re just getting prepared to put your house on the market or you’ve been up to bat for a while and are feeling the effects, here are some pointers for how you can keep your stress level low and your attitude positive. Queue the Clean-Up! It may seem like an inopportune time for such a task, but de-cluttering your home can have a positive impact on your mental health. Instead of saving all the cleanup to ...

Case-Shiller: August Home Prices Accelerate

November 05, 2015
According to the Case-Shiller 20-City Home Price Index, U.S. home prices increased by 0.40 percent in August, which boosted year-over-year home price growth to 5.10 percent. Denver, Colorado continued to lead in home price gains with a monthly increase of 0.90 percent and a year-over-year gain of 10.70 percent. San Francisco, California also posted a year-over-year gain of 10.70 percent, but posted a month-to-month loss of -0.10 percent. Portland, Oregon posted a year-over-year gain of 9.40 percent with a month-to-month gain of 1.10 percent. ...

Mortgages 101: How to Calculate How Much You Will Need for Your Down Payment

November 04, 2015
If you’re planning to buy a home in the near future, you’re probably already in the process of saving up for a down payment. But if you haven’t seen a mortgage advisor or started looking at properties yet, you probably don’t have a good idea of what a down payment will cost you. Different mortgages have different down payment requirements, and you’ll need to figure out ahead of time how much of a down payment you need to put forward. Following are some general guidelines. Be sure to speak with a knowledgeable, local lender to get the best ...

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