Last week's scheduled economic reports included the Case-Shiller 20 and 20-City Index reports, pending home sales data released by the National Association of Realtors® and the scheduled post-meeting statement of the Federal Reserve's Federal Open Market Committee. Case-Shiller: Home Prices Growing at Normal Pace The Case-Shiller 20-City Home Price index for May reported that year-over-year home prices grew by 4.40 percent year-over-year. S & P Index Committee Chair David M Blitzer said that home prices are increasing gradually by four to five percent a year as compared to double-digit … [Read More...]
Selling a childhood home can be emotionally stressful and even traumatizing. This is more than a house; it is a home where years and even decades of memories have been made and where lives have been lived. While selling a childhood home may be difficult to do, there are a few steps that can be taken to reduce the emotional turmoil that may be felt during this process. Create A Final Memory When a family has lived in a home for many years, it may feel almost as though the home has become a part of the family in a way. One way to deal with the emotional stress of saying goodbye to the home is to … [Read More...]
The stage was set in high suspense for FOMC's post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions. Meanwhile, reports of what Fed rate hikes will mean for consumers were released prior to the FOMC statement. Real estate analyst Mark Hanson said that a rate hike would … [Read More...]
If you are looking to buy a home, you may want to consider shopping for a loan first. Having your financing squared away ahead of time can make it easier to be taken seriously by buyers and help move along the closing process. For those who are looking to get a mortgage soon, keep in mind that the Debt-to-Income ratio of the borrower plays a huge role in the approval of your mortgage application. What is a Debt-to-Income Ratio? A debt-to-income ratio is the percentage of monthly debt payments compared to the amount of gross income that a person earns each month. Your gross monthly income is … [Read More...]
In an ideal situation, a seller will have ample time to prepare a home to list for sale. This may include time to make necessary repairs, to thoroughly clean the home from top to bottom and to properly stage it. However, in those cases when time is not available to complete all of these steps, there are a few necessary steps that should be followed to get the home in show-ready condition in a very short period of time. De-Clutter As Much As Possible De-cluttering the home is an important step in staging, and this is because it can make the home look cleaner and can show off the square footage … [Read More...]
Last week's scheduled economic news releases were limited as no news was released on Monday or Tuesday, but good news did arrive in the form of a dip in mortgage rates for fixed rate loans. The National Association of Realtors® reported higher sales of pre-owned homes and FHFA reported that home price growth associated with mortgages held or backed by Fannie Mae and Freddie Mac held steady in May. Sales of Pre-Owned Homes and FHFA House Prices Rise According to the National Association of Realtors®, June sales of existing homes reached their highest level since February 2007. Sales of … [Read More...]
