Buying a home comes with numerous financial planning obligations. It's far from a turn-key operation and one of the significant challenges involves developing a working knowledge about things often outside your area of expertise. For example, working as an educator, police officer, investment banker or office staffer does not necessarily make you an expert about home repairs or insurance coverage. Yet, the average homeowner is tasked with carrying a certain level of homeowners insurance coverage without a strong working knowledge. Many homeowners just purchase enough insurance to cover the … [Read More...]
Last week's economic reports included the post-meeting statement by the Fed's Federal Open Market Committee along with readings on retail sales and inflation. Weekly reports on mortgage rates and new jobless claims were also released. Fed Raises Key Interest Rate on Strong Economic Indicators The post-meeting announcement by the Federal Open Market Committee of the Federal Reserve indicated that committee members voted to raise the target federal funds rate to 0.175 to 2.00 percent from the prior rate of 1.50 to 1.75 percent. The post-meeting announcement cited strong economic conditions and … [Read More...]
Are you considering buying a flipped house? Here are some ways to tell if it is a good idea or not. If you watch popular TV shows like Property Brothers, Flip or Flop and Fixer Upper, you might believe that buying a remodeled home is a great idea. These shows always have happy endings. The process looks fun and easy, and the houses turn out beautiful. However, it is rarely this easy when buying a real-life remodeled home. There are plenty of flipped houses that turn out to have significant problems. Contractors who do remodels sometimes rush through the job. This can lead to subpar work. While … [Read More...]
It's no secret that we're in the midst of a hot seller's real estate market. That means that good homes are going fast, usually at or above list price. This is largely the result of low inventory, where good homes are scarce, keeping competition for them - and listing prices - high. Bottom line: If you've been thinking about selling your home, there's no time like the present. But before you put your home on the market, it pays to put some work into it to make it more attractive to potential buyers - and while it's the interior that often leads to the eventual offer, it's the exterior that … [Read More...]
Are you selling your home? If so, then don't forget to stage this vital area of your house. The garage is often the last thing on seller's minds when it comes to home staging. It is prudent to make sure your kitchen and bathrooms are perfect for showings. Make sure that you don't neglect your garage when getting your home ready to sell. A good-looking garage can be a great selling point. Has your garage become a greasy, junk-filled space that you don't like to visit? If so, then buyers won't want to see it either. Fortunately, it is easy to get your garage in top shape before your showings. Up … [Read More...]
If you have been looking for a new home, and you find one offered under a short sale, this may be to your advantage. While some buyers are wary about buying a home that needs to be sold with the approval of the lender, it's a great way to get a bargain on a home that you love. A short sale may be a perfect way to buy a home, as long as you are able to wait until the offer is approved. The Basics Of A Short Sale A short sale occurs when the homeowner is facing a foreclosure and trying to avoid it. The true owner of the property, is the lender who provided the money to purchase the home. The … [Read More...]