Can You Still Get A Mortgage With A Low Credit Score
July 13, 2022
With rental rates reaching an all time high, you might be thinking it’s time to buy. You have been saving money for a down payment but your credit score isn’t quite where you need it to be. Can you still buy?Lenders consider four primary factors when reviewing a mortgage application:1. Your credit score.2. ...
10 Landscaping Projects That Add Value to Your Home
July 12, 2022
Though the real estate market is booming and home prices are already at record highs, it can't hurt to maximize the value of your property, particularly if you're considering listing it for sale. One way to add value to your home is by investing in a well-chosen landscaping project. Choose an update that will impress potential buyers ...
Renovation of a home without draining Savings Account
July 12, 2022
Renovating a Home During Inflation: How To Add Value Without Draining Your Savings Account By Meera PalJul 12, 2022EnvelopeFacebookTwitterLinkedinPinterestWith inflation at a 40-year high and mortgage rates more than 2% points higher than they were six months ago (and continuing to climb), you might find that now is not the right time to buy a new home. Instead, it ...
Mortgage rates just saw their biggest drop since 2008: Two reasons why that's not good news. Christy Bieber The Motley Fool July 9, 2022
July 12, 2022
Christy BieberThe Motley FoolJuly 9, 2022 Earlier this week, Freddie Mac reported that mortgage rates had fallen rapidly over the course of the week.The government-sponsored entity that buys mortgages on the secondary market tracks trends in mortgage rates. Its data showed that the average interest rate on a 30-year fixed-rate loan fell from 5.7% last week to ...
FEDERAL HOUSING ADMINISTRATION EXPANDS MORTGAGE ELIGIBILITY FOR BORROWERS PREVIOUSLY AFFECTED BY COVID-19
July 11, 2022
HUD No. 22-129HUD Public Affairs(202) 708-0685FOR RELEASEThursdayJuly 7, 2022FEDERAL HOUSING ADMINISTRATION EXPANDS MORTGAGE ELIGIBILITY FOR BORROWERS PREVIOUSLY AFFECTED BY COVID-19Updated guidance issued today provides new flexibility for lenders when calculating “effective income” for borrowers with previous employment gaps or loss of income due to a COVID-19 economic event.WASHINGTON, D.C. - The Federal Housing Administration (FHA) announced ...
Is My Window to Buy a Home Finally Opening?
July 11, 2022
The housing market was red hot for months. Mortgage rates were low, and the competition for homes was fierce, with many people paying far above the asking price. Buyers were snapping up homes within hours of being listed, leaving many frustrated in their search.Usually, low-interest rates signal that it’s prime time to buy, but in 2021, the ...
The Future of Headship and Homeownership
July 10, 2022
Homeownership is a critical wealth-building tool, but not everyone has the same opportunities to become a homeowner. To create a more equitable and sustainable housing landscape, policymakers, thought leaders, and changemakers need to understand the trajectory of the homeownership rate—where it has been, where it is going, who it has benefitted, and who it has left behind.To ...
Impact of Institutional Buyers in Residential Sales
July 07, 2022
A new analysis of institutional home buyers and their impact on single-family properties conducted by the National Association of Realtors Research Group found that this segment of buyers comprised 13% of the residential sales market in 2021, with the median purchase price of institutional buyers on average 26% lower than the states’ median purchase prices.With the inventory of ...
Slowing market
July 06, 2022
Slowing market?In these very unusual times every indicator is being poured over and studied. New home starts and existing home sales are examined closely. We can point to global troubles, and inflation and the price of gas, but before all of these worries, July and August were always slower months for home sales. Buyers with ...
Reverse (HECM) Lending Spikes
June 30, 2022
Strong home price appreciation continued to spur originations of home-equity conversion mortgages in the first quarter of 2022, according to a new analysis by Inside FHA/VA Lending. FHA endorsement of reverse mortgages surged 16.6% on a sequential basis to $8.38 billion in the first three months of 2022, the strongest showing since the third ...
HUD Discount Sales/Good Neighbor Program
June 22, 2022
Law enforcement officers, teachers (pre-Kindergarten through 12th grade) firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, an eligible buyer must commit to live ...
Zombie Properties on the Rise
June 16, 2022
Vacant Property and Zombie Foreclosure Report for Q2 shows that 1.3 million residential properties in the nation currently sit vacant, that means one in every 76 homes. Zombie foreclosure properties went up quarterly by 2.8%.Zombie foreclosures refer to properties where a homeowner is presented with a pending foreclosure notice, and abandons their house before legally ...
What Does ‘Low Housing Inventory’ Mean?
June 16, 2022
Buying a house is an exciting event, but many Americans are struggling to find the home of their dreams due to the real estate market’s lack of options. Low inventory is plaguing communities across the country.In the early months of 2020, many people were sent home to quarantine by their employers due to COVID-19. The pandemic forced ...
FED RAISES RATES
June 16, 2022
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994....Key PointsThe Federal Reserve raised its benchmark interest rates three-quarters of a percentage point in its most aggressive hike since 1994.According to the “dot plot” of individual members’ expectations, the Fed’s benchmark rate will end the year at 3.4%, ...
The Professional Appraisal
June 16, 2022
PROFESSIONAL APPRAISAL Nothing determines the sale price of a piece of real estate but the price at which it sells. Houses are not same-priced identical cans of tuna on the grocery store shelf or shares of stock valued and traded every day on the stock exchange.Real estate appraisal (“property valuation”) is the process of arriving at ...
The U.S. needs more homes, but builders may be slowing construction
June 15, 2022
Rising interest rates and record home prices are making it impossible for many Americans to buy a house, and that's making builders less confident that if they build a home they'll be able to sell it. That could be a very big problem because the main reason home prices have risen so much in recent years ...
Be more active in you community
June 15, 2022
Be more active in your community. When your community thrives, so does your business.Support your local sports teams: School sports teams look for business sponsorships to help pay for busses, uniforms & tournament fees. Your logo/image may be placed on the field, on uniforms or in programs. Parents notice these & they are grateful for the businesses that ...
Case Study: Utility Tracking and Property Expense Payment
June 15, 2022
Client: Nationwide BankThe ChallengeOur client was slapped with a water bill in excess of $11,000.The SolutionOne way to start off a real estate investment in the hole is to discover you have a utility bill over $10,000 and you can’t figure out why. Upon further inspection, we discovered there was a leak inside the ...
Investor Series – Subsidized Tenants
June 15, 2022
This is one of many articles we will be writing regarding investing in Real Estate. Today we’ll be looking at subsidized tenants and the pros and cons with choosing these types of tenants.A subsidized tenant is a tenant that gets part or all of their rent paid for by another entity. This is usually a ...
5 Buying Tips
June 14, 2022
1) Don't rule out older listings. There are many reasons why a home may be on the market after a longer period of time. It could be financing fell through from another offer. Their loss might be your gain 2) Don't shy away from fixer uppers. They can be a good option if the numbers ...
This Is the State With the Most Foreclosures By Douglas A. McIntyre
June 13, 2022
To identify the state with the most foreclosures, 24/7 Wall St. reviewed the report U.S. Foreclosure Activity Sets Post Pandemic Highs in First Quarter of 2022 from ATTOM Data Solutions. States are ranked by the foreclosure rate -- the number of total properties with foreclosure filings per housing units, from lowest to highest.Nationwide, there was one foreclosure ...
8 DIY Disasters That Can Make a Horrible First Impression on Buyers
June 13, 2022
By Lisa Marie ConklinJun 10, 2022EnvelopeFacebookTwitterLinkedinPinterestWhen touring a home for sale, first impressions are everything—and we’re not just talking about curb appeal. It’s common for sellers to spruce up their house before putting it on the market, and some of these home improvements can include DIY maintenance projects like painting the cabinets or switching out ...
Sales declines, price drops and the return of buyer incentives, oh my!
June 11, 2022
THE NEWS: Homebuyers may finally be suppressing their appetites for pricy new houses now that mortgage rates are no longer near their historic lows. Builders in recent weeks have reported a significant drop in interest from buyers seeking new homes in a monthly report by John Burns Real Estate Consulting, according to a summary of the report from ...
Rising Rent
June 10, 2022
Homeownership becoming more elusive for many struggling with sky-high rentSkyrocketing rents have hit cities in every corner of the country. Real estate firm Redfin is reporting the median asking rent is above $2,000 a month for the first time ever.A new report from Redfin shows listed rents for available apartments nationwide rose 15% from a year ago....
How to Pressure Wash a House Obtaining a spotless home exterior requires some prep work and know-how, but the results are worth the effort.
June 09, 2022
https://www.bobvila.com/articles/how-to-pressure-wash-a-house/How to Pressure Wash a HouseObtaining a spotless home exterior requires some prep work and know-how, but the results are worth the effort. There may not be a magic wand to instantly banish years of mildew, soot, dirt, and grime from your home’s exterior, but pressure washing is the next best thing. The ...
