Depending on where you live, selling your house in the spring could take a few weeks to a few months. Although people are in the market to buy a home all throughout the year, spring time appeals to buyers who may be planning to use an income tax refund to help with the down-payment or closing costs. If you want to sell fast make sure you pay attention to the details like curb appeal, freshening the interior, and pricing your home right. Curb Appeal Basics Selling your home quickly in the spring depends on a buyer's first impression when they see your house. If you want to sell in the first … [Read More...]
Last week's economic reports included the NAHB Wells Fargo Housing Market Index, Housing Starts, and Freddie Mac's weekly survey of mortgage rates. Other news included the weekly jobless claims report and consumer sentiment for April. Mortgage Rates, Jobless Claims Rise Mortgage rates moved up according to Freddie Mac. The average rate for a 30-year fixed rate mortgage increased by one basis point to 3.67 percent. The average rate for a 15-year fixed rate mortgage also increased by one basis point to 2.94 percent. The average rate for 5/1 adjustable rate mortgages rose by five basis points to … [Read More...]
Relocating to a new area can be exciting, but it can also be expensive. There are many resources to help, but most cost money. However, if you take your time and plan carefully, you can reduce the expense so you don’t start your new life with new debt. Here are three tips to controlling your moving budget. 1. Find Out What’s Free Nothing is better than paying nothing, right? Don’t assume you have to fork out money for everything you need to move. If you have accepted a new job, ask your new employer whether the company can cover any of your moving expenses. When it comes to … [Read More...]
The National Association of Home Builders (NAHB) reported that April's Housing Market Index rose from a reading of 52 in March to 56 for April. This is in line with warmer weather and the peak home buying season in spring and summer. Readings over 50 indicate that more builders view market conditions as positive as those who do not. NAHB members cited lower mortgage rates and better labor market conditions as reasons they expect more home buyers to enter the market. All Components of Builder Confidence Increase The NAHB Home Builder Index is calculated from three components. The reading for … [Read More...]
Periodically, many homeowners will receive a rather sizable amount of extra cash. This may be from a bonus from your employer, a refund on your tax return, a financial gift from a relative or something else altogether. While there are many things that you could do with your windfall, you may be wondering if paying down your mortgage balance is a wise idea. Before you make your decision about how to spend your money, consider what impact your lump sum payment will have on your mortgage. Reduction in Principal Balance The most obvious impact a lump sum payment will have on your mortgage is an … [Read More...]
If your home is located in a flood zone, it's critical that you know how to get ready for those drenching spring rains. Here are some basic steps any homeowner can take to prepare for potentially devastating floods. Community Emergency Plans Your community has an emergency plan in case of flooding. There are warning signals to alert residents, evacuation routes mapped out and the locations of emergency shelters are given. Get in touch with your community government center if you haven't already received copies of these preparedness plans. Have a Family Plan Floods can be devastating. In an … [Read More...]