Sunrise Homes & Renovations, Inc.

Bold Wallpaper Makes A Statement In 2019

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Bold Wallpaper Makes A Statement In 2019From a sophisticated couch to a stunning art print, there are plenty of ways that you can dress up your living room and instantly change its vibe. You may not realize it, but wallpaper is back in fashion and becoming another popular way to instantly revamp a room.

If you’re contemplating ways that wallpaper can benefit your space, here are some options you may want to try out.

Add An Accent

A brightly colored accent wall may still be a popular trend, but a way to bring your wall into current fashion can be to add wallpaper. In addition to a fun print, wallpaper can instantly add elegance without overpowering the look of your living room.

Cover The Closet Doors

If you’ve come across a wallpaper pattern you like, try applying it to the front of the closet doors. It will be an easy way to dress up your doors without adding a coat of paint and will add a subtle effect that will go with your room’s decor.

Add In Some Personality

With wallpaper making a comeback, there are so many options that allow you to personalize your wallpaper and make the room your own. Posters of your favorite rock band may be a thing of the past, but unique wallpaper can be a great way to inject your own passions into your favorite room.

Make It Your Wall Art

Many homeowners struggle with how to dress up their walls appropriately, but choosing wallpaper can be a great means of avoiding this dilemma. Instead of an art piece, you can choose strips of wallpaper to provide visual interest or paper a whole wall that will act as the focal point of your room.

Upgrade Your Coffee Table

It’s often the case that people buy oversized books to decorate their coffee table, but you may want to utilize wallpaper if you have a glass surface on your table. Instead of leaving your table neutral, add a patch of wallpaper under the glass for an instant designer look.

With wallpaper making a comeback, there are plenty of ways to dress up your room for little cost that will make a huge difference in the look of your space.

If you’re currently in the market for a new home, contact your trusted real estate professional for more information.

What’s Ahead For Mortgage Rates This Week – March 4th, 2019

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What’s Ahead For Mortgage Rates This Week – March 4th, 2019Last week’s economic reports included readings from Case-Shiller Housing Price Indices and Commerce Department reports on housing starts and building permits issued.

Readings on pending home sales and consumer confidence were released along with weekly reports on mortgage rates and initial jobless claims.

Case-Shiller Home Price Growth Slows to Lowest Rate in Four Years

Home prices continued to grow in December but reached their slowest pace since November2014. Seasonally-adjusted annual home price growth reached 4.70 percent in December as compared to growth of 5.10percent year-over-year in November.

Analysts cited high home prices, and slim inventories of available homes, although demand for homes eased in some metro areas. Affordability and accessibility to mortgages sidelined low and moderate-income buyers; some buyers allegedly gave up on buying homes.

Building more homes is necessary for relieving the housing shortage; real estate pros, mortgage lenders and home buyers rely on home builders to provide enough housing for first-time buyers and existing homeowners to transition from renting to owning and for existing homeowners to move up to aspirational homes. 

Housing starts fell short of expectations in December with a seasonally-adjusted annual rate of 1.078 million starts. Analysts expected 1.28 million starts based on November’s reading of 1.214 million housing starts. Construction was affected by winter weather and higher costs for building materials.

Pending Home Sales Rise in January

Pending home sales increased in January; sales with signed purchase contracts rose 4.6- percent as compared to December’s negative year-over-year reading of -2.30 percent. The National Association of Realtors® said that all four U.S. regions reported higher readings for pending home sales. The Northeast reported 1.60 percent more pending sales, Midwest and Southern regions reported increases of 2.80 percent and 8.90 percent, and the Western region reported 0.30 percent more pending home sales.

Mortgage Rates, Hold Steady New Jobless Claims Rise

Freddie Mac reported no change in 30-year fixed mortgage rates, which averaged 4.35 percent. The average rate for 15-year fixed rate mortgages dropped one basis point to 3.77 percent; mortgage rates for 5/1 adjustable rate mortgages were unchanged at 3.84 percent. Discount points averaged 0.50 percent for fixed-rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages.

First-time jobless claims matched expectations of 225,000 claims filed as compared to 217,000 first-time claims filed the prior week. The University of Michigan Consumer Confidence Index rose to an index reading of 131.4 and exceeded the expected reading of 124.7.

January’s reading was 121.7. Rising consumer confidence may compel would-be home buyers to enter the housing market during peak buying season in spring and summer.

What‘s Ahead

This week’s scheduled economic reports include readings on January housing starts, construction spending, and new home sales. Weekly readings on mortgage rates and new jobless claims will be released along with labor-sector reports on public and private sector jobs and the national unemployment rate.

 

5 Financial Terms Every Real Estate Investor Should Know

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5 Financial Terms Every Real Estate Investor Should KnowThe success of your real estate ventures depend on your ability to navigate the financial world. Learn these terms to make it easier to understand what’s going on with your real estate investments.

Cash Flow

Contrary to popular belief, cash flow isn’t just the amount of liquid assets you have available. Your cash and unused lines of credit are an essential indicator of your ability to complete projects and pay the cost of ongoing operations. However, these factors don’t tell the whole financial story.

Your actual cash flow is the difference between your gross income and your financial obligations. You can have a large cash reserve but still have a negative cash flow if you aren’t making enough to cover your obligations.

Gross Yield

When evaluating potential properties, it’s helpful to understand the gross yield. To calculate gross yield, divide the annual income you expect the property to produce by the property’s price. This number comes in handy for comparing properties and narrowing down your options.

Amortization

Lending institutions offer a variety of loan structures to fit your goals and financial standing. An amortized loan features a set amount of interest. This amount is integrated into each monthly payment. That means that borrowers are paying on the loan’s principal and paying down their interest liabilities from the very first payment.

Amortization is an excellent way to quickly build equity. This enables real estate investors to use existing properties to fund other projects without having to sell off their holdings.

Carrying Costs

Flippers and other short-term real estate investors need to keep a close eye on their carrying costs. These are all the expenses incurred after the initial purchase and before the property is sold for profit. Carrying costs include mortgage and interest payments, utility bills, taxes, and insurance.

The best way to limit carrying costs is to flip your property as quickly as possible. However, sudden changes in the market, illness, and other unexpected factors can prolong your need to make monthly payments. In this event, investors should carefully monitor their cash flow to ensure they don’t end up losing their entire investment.

Double Close

Wholesale home buyers often already have an exit strategy before signing on new properties. In this case, a double closing allows the wholesaler to purchase the property and sell it to a new buyer in a single transaction. This is also sometimes called a back-to-back closing.

Knowing these terms will make it easier for you to manage the financial details of your real estate investments. And partnering with a trusted real estate professional will make it easier for you to find just the right investment property. 

11 Simple Ways To Save Money Toward The Purchase Of Your New Home

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11 Simple Ways To Save Money Toward The Purchase Of Your New HomeIf you find it difficult to make ends meet, these tips will help you save money in ways that are easy to do and create substantial savings over time.

Declutter

Get rid of stuff you do use or need by having a garage or yard sale or by putting things for sale on eBay or Craigslist.

Make Your Own Coffee

Do you really want to make that billionaire richer by buying coffee for $5+ a cup? Make your own gourmet coffee that costs around 50 cents per cup for the same thing.

Bring Your Own Lunch

Making your lunch the night before to take to work the next day will give you more time to enjoy lunch. You will save the money that is wasted when driving to fast-food restaurants or going to pricey lunch places.

Grow Some Food

Everyone should have a garden, even if it is only a window garden for herbs. If you have some room for pots, you can grow tomatoes and other vegetables. If you have a back yard or a front yard you can grow tons of stuff.

Buy In Bulk And Use Coupons

For the things that you use on a regular basis, stock up when the items are on sale. Buy things at discount stores. Buy bulk things like rice and pasta at wholesale prices in co-ops. Coupon clipping is a hobby that pays for itself in savings. Just be careful not to buy things you do not really need or use.

Change Home Lighting

If you have not yet changed out all your incandescent bulbs to compact fluorescent bulbs, what have you been doing? Change those bubs right away because you are burning up money on wasteful lights.

Install Smart Home Technology

Making a home run with more energy-efficiency is reduces your bills and helps the planet too. Smart home technology monitors comfort zones and turns things off when they are not needed.

Cut The Cable

An expensive monthly bill for cable TV is something many can do without. There are plenty of less expensive alternatives and tons of free content to view online.

Make A Change Jar

Every time you come home, put all the change you have in a change jar. You will be surprised how much money builds up over time and you will hardly even notice it is missing.

Walk Instead Of Drive

Do you have to drive your car everywhere? Try walking short distances instead. Not only will you save money on gas; walking may improve your health.

DIY Projects

Instead of paying others to do simple jobs around the house, do them yourself. There are plenty of do-it-yourself (DIY) guides on YouTube that show how to do just about anything. You will save the expensive labor cost for simple home repairs that can be up to $75 per hour.

Are you inspired? OK. Put some of these ideas into action. Ready, set, save!

Your trusted real estate professional is a skilled negotiator. Be sure to utilize this savvy resource as soon as you are considering a new home purchase.

Case-Shiller: December Home Price Growth Slowest in 4 Years

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Case-Shiller: December Home Price Growth Slowest in 4 YearsCase-Shiller Home Price Indices reported the slowest rate of U.S. home price growth since November 2014. According to the 20-City Home Price Index, Home prices grew by 4.20 percent year-over-year and were 0.20 percent higher in December as compared to November. The 20-City Home Price Index fell short of analysts’ expected gain of 4.80 percent year-over-year. Case-Shiller’s National Home Price Index reported home prices increased 4.70 percent in the fourth quarter of 2018.

While home price growth is sluggish, home prices continued to rise faster than wages. This creates obstacles to affordability for many would-be home buyers. Fears about rising mortgage rates and inflation, also concerned would-be home buyers seeking affordable homes.

20-City Home Price Index: Home Price Growth Rose In Only 5 Metro Areas

Las Vegas, Nevada led in home price growth for December with a year-over-year increase of 11.40 percent. Phoenix, Arizona home prices rose 8 percent year-over-year, and Atlanta, Georgia home prices increased by 5.90 percent. Home prices in west coast cities including  San Francisco, California and Seattle, Washington grew at a slower pace than in prior years, which could indicate that high-demand metro areas are approaching peak home prices.

December home price growth surpassed November readings in five cities tracked in the 20-City Index. Three cities reported no change in month-to-month home prices growth. David M. Blitzer, Chair of the S&P Dow Jones Index Committee, acknowledged that year-over-year home prices continued to fall despite the prior assertion that housing markets were not approaching “bubble” conditions seen in the Great Recession.  

Serious Headwinds Face Prospective Home Buyers

According to data compiled by the National Association of Realtors®, 27 percent of prospective home buyers surveyed at the end of 2017 believed that they would face fewer challenges to finding and buying a home in 2018. Prospective buyers surveyed in late 2018 who planned to buy within the next year decreased from 24 percent to 13 percent. Combined impacts of high home prices, potential increases in mortgage rates and strict mortgage requirements discouraged some would-be buyers, but whether this is a short or long-term trend will depend on factors including inflation, wage growth and inventories of homes for sale.

Market conditions can vary by location. Please be sure to consult with your trusted real estate professional to find out about market specifics in your area.

Sound Advice From Successful Home Sellers

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Sound Advice From Successful Home SellersThe real estate market and all the things involved in selling a home can seem complicated, and it can be very hard to know which tips to trust. While there’s plenty of great advice to go around from many knowledgeable sources, here are some of the best tips from home sellers who have made a successful sale.

Research Your Local Agents

When considering an agent that will meet your home-selling needs, it can be tempting to go with someone familiar or recommended through a friend who seems like a safe bet. However, it’s important to do some of your own research. Create a list of agents you’re impressed by and take note of their sales and agent fees. Keep in mind that you may want to lean towards an agent who has expertise in your neighborhood.

Get A Second Opinion On Price

Before you have an agent appraise the value of your home, it’s worthwhile to do some research on your end to determine the approximate value of your property. Once you’ve arrived at a figure, bring in the agents you’ve selected to appraise the value of your property. If one price is significantly higher than the other, it may be a sign that an agent is trying to win over your business. Most agents are in tune with the current market and should be able to guide you toward the most appropriate market price. 

Be House Ready At All Times

Having potential buyers view your home will certainly make the idea of selling it real, so make sure that it is ready for viewing at any time. If a potential buyer cannot view your property or has to work around your schedule constantly to arrange viewings, there’s a pretty good chance that you may lose out on some good home offers. Instead of missing out, provide a set of keys to your real estate agent so they can show people around your home when you’re not around. This should automatically increase the likelihood of an offer on your home.

Heading into the real estate market can be a matter of trepidation if you’re not sure what to do, but by doing some research and being prepared you’ll increase your chances of success. As soon as you begin to consider putting your home on the market, be sure to contact your trusted real estate professionals for more information and expert guidance.