It is exciting to purchase a house for the first time, but this is also a major financial decision. Therefore, potential homebuyers need to make sure they are prepared. What do potential homeowners need to know about purchasing a home for the first time? Learn more about this process below. Ask For Help From A Real Estate Agent First-time home buyers always need to ask for help from a real estate agent. A real estate agent can help someone identify potential issues with a home that might have otherwise been overlooked. A real estate agent can also make sure potential home buyers do not overpay for a home. Always Get A Pre-Approval Letter Potential home buyers also need to get a … [Continue Reading...]
The Federal Reserve’s Federal Open Market Committee considered easing monetary accommodations implemented in response to stronger economic conditions according to its post-meeting statement issued November 3. The Fed started making trillions in monthly bond purchases when the pandemic started but slowed its purchasing pace to $120 billion per month in June 2020. The Fed will soon reduce its monthly bond purchases to $105 billion monthly. The Fed said it will continue to purchase bonds until the economy makes “substantial progress” toward its legally mandated goals of achieving two percent inflation and maximum employment. Supply shortages and high demand for goods caused by … [Continue Reading...]
There are numerous homeowners who are looking for a way to make more space. Even a small decluttering project can make a significant difference to the amount of space available in a home. This can also make it easier for homeowners to find what they are looking for. Furthermore, if a home is going on the market in the near future, it needs to be as clean as possible. That way, prospective buyers can see the potential of a home. What are a few examples of decluttering projects that can make a significant difference? Clean Under The Kitchen Sink The kitchen is one of the most used spaces in the home. Therefore, it is critical to keep it clean. Focus on cleaning under the kitchen sink. The … [Continue Reading...]
If you've been in your home for a while and have considered other loan options, you may have heard the term reverse mortgage without being aware of how this product can benefit you. While this type of mortgage works for those who have a high amount of equity in their home, here are the details on reverse mortgages and how this product may work for you. What's A Reverse Mortgage? The reverse mortgage was created in 2009 as the Home Equity Conversion Mortgage for Purchase (HECM) and is something that can be used by those who are older than 62. As this type of mortgage does not require the homeowner to pay monthly mortgage payments, it enables those who use it to repay their loan after they … [Continue Reading...]
Luxury estates can be a challenge to sell. The more expensive a home is, the less potential buyers there are. The biggest hassle is going through the process with people who can't actually afford the home, only to have it fall apart at the last minute. Here are some ways to make sure the property is only being viewed by qualified buyers. Only Accept Offers From Buyers Who Are Pre-Qualified From A Lender One of the only ways to guarantee a buyer will be able to afford a luxury home is to let the bank do the work on your behalf. By only accepting offers from people who have been pre-qualified by a lender, it allows the seller the peace of mind of knowing that every offer is a legitimate one. … [Continue Reading...]
Last week’s economic reports included readings on home price growth from S&P Case-Shiller Home Price Indices, data on new home sales, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also published. Case-Shiller: Home Price Growth Slower, but Prices Aren’t Falling National home prices rose by a seasonally-adjusted annual pace of 19.80 percent in August, which was incrementally lower than July’s year-over-year home price growth rate. Analysts said that rising mortgage rates caused some buyers to leave the market and eased demand in areas where bidding wars drove home prices beyond market … [Continue Reading...]
