Mortgage Rates Keep Climbing Higher Above 7%
October 16, 2023
October 12, 2023By: Melissa Dittmann TraceyBorrowing costs continue to hover near a 23-year high.For the fifth consecutive week, mortgage rates pushed upward, hammering home buyers’ budgets. The 30-year fixed-rate mortgage averaged 7.57% this week, Freddie Mac reports.“Mortgage rates rose as ongoing market and geopolitical uncertainty continues to increase,” says Sam Khater, Freddie Mac’s ...
FED LEAVES RATE ALONE
October 15, 2023
The Fed's latest decision kept its benchmark rate at about 5.4%, the result of the 11 rate increases it unleashed beginning in March 2022. Those rapid hikes, Powell said, now allow the central bank to take a more measured approach to its rate policy.......The Federal Reserve left its key interest rate unchanged Wednesday for the ...
Safely Completing A Relocation Assistance Task
October 15, 2023
For agents who deal with distressed (foreclosed) property listings, at some point they will encounter the task of offering relocation assistance (also known to as "Cash For Keys") to an occupant who is facing eviction/lockout. Dealing with someone who's facing this can present quite a test to the agent who has the responsibility to execute ...
Fall Home Maintenance Checklist
October 14, 2023
Fall Home Maintenance Checklist:Check and Clean FurnaceClean out GuttersShut off Water to outside water hoseCheck and replace batteries on smoke/carbon detectorsCheck for drafts and Seal cracksReverse Ceiling FansStore outside furnitureTrim Branches near roofClean Dryer VentsWinterize Sprinkler System...
What types of services does a property management company provide?
October 14, 2023
Property management companies provide a wide range of services to landlords, including:Marketing and tenant placement: Property managers can market your rental property to potential tenants, screen tenants, and help you select a qualified tenant.Lease management: Property managers can draft and execute lease agreements, collect rent, and enforce the terms of the lease.Property maintenance and repairs: Property managers ...
Fire Extinguisher Safety Tips
October 13, 2023
While doing your fall maintenance routines, please add checking the fire extinguisher to the list. Since fires are burning faster than in years past due to modern home furnishings, open floor plans, and unprotected lightweight wood, according to the National Fire Protection Association. Homeowners only have two minutes (or less) from when a smoke alarm rings to react. For ...
What is an insurance rider?
October 13, 2023
What is an insurance rider in a homeowner’s policy?An insurance rider — also referred to as a floater or an endorsement — is an optional add-on to an insurance policy. A homeowner’s insurance rider amends a basic policy. By purchasing a rider on top of your standard coverage, you may be able to increase your coverage ...
Tips for house hunting for fall and winter
October 12, 2023
Tips for House Hunting for Fall and WinterAs the temperature drops and the leaves begin to change, house hunting takes on a whole new dynamic. Fall and winter can be a great time to search for your dream home, as there are often fewer listings and fewer buyers vying for properties. If you're considering buying a house during ...
Prepare Your Home for Winter Weather
October 12, 2023
https://www.kenergycorp.com/prepare-your-home-for-winter-weather/Prepare Your Home for Winter WeatherDoing a staycation for fall break? Be productive and get your home prepared for winter weather with these five jobs:1. Caulk windows and doors, even if you did it last fall. Cracks in old caulk can let cold air in and warm air out.2. Reverse the direction of ceiling fan blades ...
The Benefits of Being a First-Time Home Buyer
October 10, 2023
When it comes to the benefits of home buying, there are several key advantages that stand out. One of the most significant benefits is the stability that comes with owning a home compared to renting. Unlike renting, where there is always a chance of rent increases each time you sign or renew a rental agreement, buying a home provides ...
Top 20 States for Foreclosure Rates
October 09, 2023
Top 20-States for Foreclosure Rates#20: Texas#19: Pennsylvania#18: Michigan#17: Iowa#16: North Carolina#15: Alabama#14: New York#13: Georgia#12: Louisiana#11: California#10: Connecticut#9: Indiana#8: Ohio#7: Maryland#6: Florida#5: Delaware#4: New Jersey#3: South Carolina#2: Illinois#1: NevadaData Source: sofi.com...
Rising Home Prices, Mortgage Rates Fuel Decline in Housing Affordability
October 03, 2023
Rising Home Prices, Mortgage Rates Fuel Decline in Housing Affordabilityin Affordability, Daily Dose, Featured, Market Studies, Market Trends, Migration, News, Real Estate 4 days agoATTOM has released its Q3 2023 U.S. Home Affordability Report showing that median-priced single-family homes and condos are less affordable compared to historical averages in 99% of ...
Hot Home Trend: Black Window Trim
October 02, 2023
Especially on light-colored exteriors and interiors, a black trim creates an eye-catching contrast.Black trim around windows can modernize a home’s look, providing pop of contrast in rooms with lighter color schemes. Black trim is being incorporated into a variety of home styles, including industrial, farmhouse, bohemian, modern and even traditional.Designers favor black window trim on a ...
GM furloughs another 160 workers due to UAW strike PUBLISHED MON, OCT 2 202311:09 AM EDT CNBC
October 02, 2023
PUBLISHED MON, OCT 2 202311:09 AM EDT CNBCGeneral Motors said Monday it was indefinitely laying off about 160 workers at plants in Indiana and Ohio because of the impact of the United Auto Workers strike on some facilities.The UAW on Friday said it would strike at GM’s Lansing Delta Township assembly plant that makes the Buick Enclave ...
First Time Buyers
October 02, 2023
Thinking about buying your first home? What an exciting time! Here are some tips to think about before looking at a home.Make a list of your most important "must haves". Remember, the more you list here, the more the list is narrowed down, making less to look at. try to be flexible with ...
What a Government Shutdown Could Mean for the Real Estate Economy
September 28, 2023
The National Association of Realtors (NAR) has released a report detailing what a government shutdown would mean for the real estate industry . If Congress is unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government by September 30, 2023, the result will be a partial shutdown of some government operations.This partial shutdown ...
Value of FHA Mortgage
September 27, 2023
The Value of an FHA MortgageBy Tom Nelson, HUD LLB-Real Estate One-Rochester, MIBuying a HUD Property Series Number 7We all know that there are different kinds of government backed mortgage loans as well as banks and credit unions. These include conventional, FHA, VA, Fannie Mae, Freddie Mac, USDA and other lesser-known ones. The focus of this article ...
HUD Extension Procedure and Explanation
September 23, 2023
Contract Extension Policy and Procedure: The buyer must not let the contract expire, as it is a fatal event and HUD will cancel and not allow reinstatement. The buyer is required to process the extension request even if the delay is due to a title issue or other seller issue. All extensions are now done via DocuSign. ...
Make Your Home Roomba Safe
September 19, 2023
Robotic vacuum cleaners such as iRobot’s Roomba and Shark’s Ion Robot Vacuum make cleaning up around the house a lot easier. In most cases, these robotic vacuums run without issue and (depending on the model) may even empty themselves once they’re full. But there are some problems that your new Roomba might run into if you ...
Are You Using Videos? If Not You're Missing Out
September 16, 2023
They say a picture is worth a thousand words. However a video can be worth a thousand pictures. This is because videos can captivate the eyes and thoughts of your audience. A video is useful not only to advertise your listings but also you as an agent. Of course, the most common media to showcase your videos would be ...
The three best home improvements you can make!
September 15, 2023
The three best home improvements that improve a home's value are:Kitchen remodelBathroom remodelCurb appealA kitchen remodel is one of the most expensive home improvement projects, but it is also one of the most rewarding. Buyers are willing to pay a premium for homes with updated kitchens that feature modern appliances, cabinets, and countertops.A bathroom remodel is another ...
Successful HUD purchase: Beyond following instructions
September 15, 2023
Agents who help clients successfully navigate the purchase of a HUD home know that it goes well beyond just following the instructions of how to place the bid, upload the proper documents, and follow the emailed instructions. There are many other factors to navigate along the way to help the process go smoothly and to make it to the ...
Top 7 tips for 1st time Homebuyers
September 15, 2023
Here are some tips to prepare yourself in order to purchase your first home!Maintain your credit – pull your credit report and review for accuracy. If you see any errors or areas you need to work on, do that first before getting pre-approved with a lender.Nail down your budget – Beyond just what you can afford ...
Fall Chores For Outdoors
September 15, 2023
It’s that time again. Time to get things outside of your home ready for the fall. Here are a few things you can do now while the weather is still nice.1. Clean or replace your gutters. If they're clogged, you can end up with a flooded interior and damaged exterior. So clean them, and ...
Chicago-area home prices growing at twice the speed of the nation's.
September 14, 2023
Chicago-area home prices are growing twice as fast as the nation’s, two reports released this morning show. It’s the exact opposite of what was happening a year ago. The median price of homes sold in the nine-county Chicago metro area rose to $339,900 in August, up 9.6% from the same time a year ago, ...
