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Blog Archives: July 2013

Case Shiller Home Price Index Shows Rising Prices For May 2013

July 31, 2013
The S&P/Case-Shiller Home Price Index (HPI) released Tuesday presented solid evidence that the housing recovery continued during the month of May. The Case-Shiller 20-City Index showed increasing home prices for all 20 cities. Highest Year-Over-Year Gains Included Theses Cities: San Francisco, CA 24.50 percent Las Vegas, NV 23.30 percent Phoenix, AZ 20.60 percent Atlanta, GA 20.10 percent Los Angeles, CA 19.20 percent In surprising news, Dallas, TX and Denver, CO posted record year-over-year price gains that surpassed their pre-crisis ...

Questions To Ask Your Home Inspector Before Buying Your Home

July 30, 2013
Imagine how frustrated you’d be to find out that the hot water heater wasn’t working – in the middle of your very first shower in your new home! This, among other very good reasons, is why you should have a home inspection before you buy your home. When you buy a home, you need to know exactly what you’re buying. A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector. What Does Your Inspection Cover? Not all inspections are ...

What’s Ahead For Mortgage Rates This Week — July 29, 2013

July 29, 2013
Last week brought a mixed bag of economic news, but most notably, average mortgage rates fell. New home sales surpassed expectations and consumer sentiment rose for July; these readings among others suggest that the economy continued to improve and that consumer confidence in the economy improved as well. Monday: Existing home sales in June were reported at 5.08 million on a seasonally-adjusted annual basis. While this fell short of expectations of 5.25 million existing homes sold, the expectation was based on the original reading of 5.18 ...

How to Prepare to Get a Mortgage

July 26, 2013
According to mortgage experts, it is a good idea to gather up all of the needed documents in advance before launching your house hunt, as this will make the application process a lot easier. The housing burst has resulted in much harder lending standards, which means that it could possible take weeks or sometimes even months to secure a loan. Here are a few important steps that you should take in advance Consider What You Can Really Afford Before you start the entire house hunting and mortgage application process, you should consider what ...

Bring More Natural Light into your Home

July 26, 2013
One of the biggest improvements that you can make to your home is to bring in more natural light. Sunlight is a powerful mood enhancer and a home design that brings in a lot of natural light will automatically look and feel much more pleasant. Not only will it boost your mood, bringing in natural light will also increase the value of your home. So how can you shed some light on your home’s interior? Here are a few ways: Add More Reflective Surfaces Whenever you add a light and reflective surface to your home, you increase the number of ...

Existing Home Sales: Second Highest Level Since 2009

July 24, 2013
According to the National Association of REALTORS®, national sales of existing homes in June came in at 5.08 million. June’s reading was reported to be the second highest since November of 2009; this should calm concerns about a lapsing recovery in housing markets. Summer typically produces the highest prices for existing homes sold, as families seeking larger homes frequently move during summer months. The June inventory of existing homes improved by 1.90 percent to 2.19 million homes or a 5.20 month supply. June’s number of available ...

First Things First, What To Do Upon Moving Into Your New Home

July 23, 2013
If you have purchased a new home and are going to move in soon, what are the first few things that you will need to do upon moving into your new home? Moving can be very stressful, but having a checklist can make your move effortless. Here are 6 easy steps that can eliminate any frustration and help you feel safe and secure: Change Your Address You will need to change your address for all magazine subscriptions, bills and other services. You can update your mailing address online or visit your local post office to find out what needs to ...

What’s Ahead For Mortgage Rates This Week – July 22, 2013

July 22, 2013
Last week’s economic news was a mixed bag with retail sales and housing starts coming in lower than expected, but home builder confidence in housing markets increased. Weekly jobless claims fell, and Fed Chair Ben Bernanke testified before the Senate, saying that falling gold prices were an indication of increasing confidence in the economy, but that it was “way too soon” to say when the Fed’s quantitative easing program would be reduced. Monday: Retail sales for June came in lower than expected at 0.4 percent. Economists estimated a ...

Investment Property Primer

July 19, 2013
The thought of someone else paying your mortgage is powerful.  Getting a steady stream of passive income is even better! Owning investment property is a great way to create long term, sustained wealth while diversifying your portfolio.  A steady stream of income from tenants can make a big difference in how you live your life in retirement, as well as what you leave your children.  Here are some things to consider when contemplating an investment property: Investment property is a business – it makes either a profit or a loss and it ...

5 Important Tips To Protect Your Home From Burglars When You Are Away

July 19, 2013
Any family would feel violated after coming home to a ransacked house. Burglars look for specific things when choosing a home to break into, and many homeowners are unknowingly inviting criminals through the front door. Below are five ways you can avoid drawing the eyes of thieves and deter your home from becoming a target. Beware Of Selling To Strangers If you’re wanting to sell items on Craigslist or another internet-based classified ad website, attempt conducting your transactions outside of the home. If you must meet at home, screen ...

Home Builder Confidence Rises To Highest Level Since January 2006

July 18, 2013
The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) rose in July. Home builder confidence in the market for newly constructed single-family homes rose six points to a reading of 57. NAHB reports that this was the third consecutive rise in the HMI and its highest reading since January 2006. Three components used in compiling the HMI reading include current sales, which gained five points for a reading of 60.  Confidence in prospective buyer traffic rose from 40 to 45, and sales expectations for the next ...

3 Common Home Financing Problems And How To Avoid Them

July 17, 2013
Getting the best mortgage financing for your new home can sometimes be a complicated process and, unfortunately, things can go wrong. Using a licensed and trusted mortgage loan specialist can help alleviate many of these challenges. There are certain mistakes that many homebuyers make when applying for their mortgages that can seriously damage their chances of being approved. If you are aware of the most common mortgage issues, you will be better able to prevent them when applying for your own mortgage. Make sure that you keep the following ...

What Are the Hot Home Decor Trends for 2013?

July 16, 2013
Just like fashion designs and hair styles, home decor trends are constantly changing and evolving. Each new season brings a new must-have feature for your home. In order to keep your home looking fresh and chic, what are the hot trends for 2013 that you can incorporate into your decor? Here are a few ideas: Bright Paint Colors Vibrant (and even neon) hues are very popular in fashion at the moment and they also look really chic on your walls. If you are looking for a way to freshen up a dull room, a bright pop of color can really do the ...

What’s Ahead For Mortgage Rates This Week – July 15, 2013

July 15, 2013
The Fed’s release of the minutes for the June FOMC meeting was the most noteworthy economic event last week; the minutes repeated the Fed’s recent statement concerning the wind-down of its current monetary easing policy. The minutes indicated that about half of meeting participants wanted to end the quantitative easing (QE) policy by year end, while “many others” preferred to end the program in 2014. This split suggests that days are numbered for the Fed’s monthly purchase of $85 billion in Treasury securities and mortgage-backed securities ...

Can That Killer Home Theater Add Value To Your Home?

July 12, 2013
Many home owners dream of having a home theater – an entire room of the home dedicated to enjoying television and film. These rooms are usually equipped with a large flat screen television or projector, comfortable seats, mood lighting and perhaps even a bar or a snack fridge. They are very comfortable and the perfect place to relax after a hard day. They are also lots of fun for entertaining, as you will be able to watch the big game or the hottest new release with your friends in style. However, will spending the money on renovating your ...

FOMC Minutes Reveal Fed May Curb Economic Support Program Before Year End

July 11, 2013
FOMC Minutes Suggest QE Tapering by Year-End The minutes for June’s meeting of the Federal Open Market Committee (FOMC) suggest that committee members are mostly in agreement that the current quantitative easing program (QE) should begin winding down by year end, but the committee minutes are very clear concerning the committee’s intention to monitor inflation and ongoing economic and financial developments before taking action to reduce the current rate of QE. The Fed currently purchases $85 billion monthly in Treasury securities and ...

The Best And Worst Times Of The Year To Sell Your Home

July 10, 2013
Does the time of year when you put your home on the market affect how well it will sell?  What about the final sales price? According to many studies in housing trends, the answer is yes. The time of year when you sell your home can have an effect on how many people are interested and how much the home will sell for. Of course, if you need to move and sell your home at any point of the year, you will still be able to find buyers and negotiate a price that works for you. In some areas of the country, the currently swift moving housing market ...

7 Smart Tips To Painting Your Own Home This Summer

July 09, 2013
Winter may have taken a toll on your home’s exterior this year. You’ve been noticing the cracking paint for months, but you don’t want to shell out the big bucks to hire a professional painter. Don’t fret! With the weather warming and the nice summer weekends, it’s the perfect time to tackle that project of painting your home. While this might seem like an insurmountable task, especially if you have a multi-story home, it’s not. It just takes the right tools and a bit of hard work. Below are step-by-step instructions to having the outside ...

What’s Ahead For Mortgage Rates This Week – July 8, 2013

July 08, 2013
Last week saw a relatively quiet week due to the 4th of July holiday, but there were some housing-related developments: Monday: The Department of Commerce reported that overall construction spending increased by 0.50 percent in May to a seasonally adjusted annual rate of $874.9 billion. Residential construction grew by 1.20 percent, and May 2012 construction spending was 5.40 percent higher than in May 2012. More spending in residential construction can indicate builder confidence in housing markets; added construction could help ease low ...

Go Green By Faking It With Artificial Grass

July 05, 2013
The summer heat is starting to take its toll on you and your thirsty lawn. Homeowners spend hundreds of dollars every summer striving to grow healthy grass and keep it green. If you’re sick of trying to maintain a manicured lawn, then you can go green another way. Install artificial turf. The Grass is Always Greener Today’s artificial grass is made out of polypropylene, nylon, or polyethylene threads that are sewn into a mesh backing that allows for water drainage. This is then usually laid on top of compacted gravel and tied down at the ...

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