Blog — Page 717 of 887 — First Rate Financial Group

03

Jun

Home Mortgage Tips

4 Financial Benefits of Home Ownership

4 Financial Benefits of Home Ownership Home ownership may be one of the most familiar goals of adulthood, but there’s more than one reason why so many people flock towards this type of investment and leave the rental market behind. If you’re trying to decide if you should make the big plunge towards buying, here are some benefits of saving up for a down payment and finding the right place to settle in.

It’s More Economical

Many people eschew home ownership simply because it can be hard to wrangle together the funds for a down payment. However, while a monthly rental is money you’ll never see again, the money you put down on a mortgage is being invested back into your home, making for a solid investment you can capitalize on later.

Instant Tax Deductions

The interest that you pay on your mortgage payment can be one of the most tumultuous aspects of purchasing a home, but you may not know that you actually have the ability to deduct many associated costs on your taxes. From origination fees to property taxes, there are plenty of costs that go along with your home that can be claimed for a refund when tax time comes!

Paying A Lower Price

The real estate market fluctuates every day, but one thing is for the certain: the median price of a home is on the rise. While low inflation rates may not be ideal if you’re selling, they can mean a better deal if you’re delving into the market for the first time. Just remember, it’s important to buy a home you can afford as anything that goes beyond your budget is not a solid investment.

A Built-In Savings Account

It may be important to have liquid assets outside of the equity you have in your home, but many people struggle to pay off their home and save money at the same time. While saving outside of your monthly mortgage payment is still important, putting money down on a home is an act of investing, and it’s one you’ll likely make a solid profit on when you decide to sell.

There can be many financial benefits to renting in the short term, but purchasing a home is a more solid financial decision when it comes right down to it. If you’re considering a home and would like to know more about your options, you may want to contact one of our mortgage professionals for more information.

02

Jun

By support

Financial Reports

Case-Shiller: Home Price Growth Expands to All Metro Areas

Case-Shiller: Home Price Growth Expands to All Metro Areas March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent.

Denver, Colorado rounded out the top three cities with a year-over-year gain of 10.00 percent. San Francisco, California, which consistently posted double-digit gains in recent months slipped to a year-over-year gain of 8.50 percent. This may indicate that prices in high cost metro areas are nearing their peak.

S&P Dow Jones Chair David M Blitzer attributed outsized price gains to the shortest supply of available homes since the mid-1980s. Homes for sale account for only two percent of U.S. households. To put rapidly increasing home prices in context, the S&P Case-Shiller 20-City Home Price Index was 11.50 percent below its peak in March, 2006.

Case-Shiller’s 20-City Home Price Index posted a 5.40 percent gain year over year, which was equal to its year-over-year price gain in March 2015. Month-to month home prices gained 0.90 percent; analysts had estimated year-year growth of 5.10 percent and a month-to-month gain of 0.70 percent. All cities in the 20-City Housing Market Index posted gains in month-to-month and year-over-year readings.

Pending Home Sales Exceed Expectations

Pending home sales in April supported trends noted in Case-Shiller’s 20-City Home Price Index. Regional results for pending home sales in April rose by 1.20 percent in the Northeast while pending sales were unchanged in the Midwest. The South posted pending sales gain of 6.80 percent and the West recovered with an 11.40 percent rise in pending sales for April.

Based on April’s pending home sales readings, real estate pros expect a jump in closed sales in May. Home buyer demand remains resilient according to Lawrence Yun, chief economist for the National Association of Realtors. Mr. Yun also said that the key to continued expansion of home sales is providing buyers sufficient supplies of affordable homes. Builders may provide relief by increasing construction, but have cited shortages of labor and developed land as constraints on new construction. Active demand for high-end homes has also focused construction on higher priced homes.

Mortgage applications are also increasing, which indicates that more homes are being purchased by owner-occupant buyers than investors. Relatively low mortgage rates and waning investor interest could provide buyers relying on financing a leg-up in competing for available homes.

01

Jun

By support

Home Seller Tips

3 Ways to Add Emotional Cues to Make Buyers Feel at Home for a Quicker Sale

3 Ways to Add Emotional Cues to Make Buyers Feel at Home for a Quicker Sale There are a lot of ways you can effectively stage your home to snag the attention of potential buyers, but there are often a few extra things you can do to really engage the senses of your guests. If you’re hoping for an instant offer and are pulling out all the stops to sell your home, here are some ways you can emotionally engage with visitors to your home.

Carefully Choose Your Color Scheme

You probably already have a fairly distinct color palette in your home, from the couch you’ve purchased to the tone of your paint, but that doesn’t mean you can’t spice it up with a few carefully chosen pieces. Neutrals like white, brown and grey are a great place to start, but instead of letting the room speak for itself, add a punch of color – like bright pillows or a bold throw – that will add instant appeal and make your home a little more memorable. Just remember that it’s important to use colors and patterns that aren’t too bright, as these can overwhelm your space.

Remove Your Most Personal Items

Many homeowners think it’s a great idea to have a lot of personal items around to draw people into their house, but too many items like this can actually distract your guests and may even make them feel uncomfortable. Before organizing your open house, ensure that you remove excess personal items like fridge photographs and frayed posters. Instead, stick with items like artwork or coffee table books which will still exude personality but won’t make potential buyers feel like they’re intruding.

Consider The Sense Of Smell

The senses are often drastically under-appreciated when it comes to staging your home, but they can actually go a long way in getting a lot more interest. Because smell can provide other positive cues that merely looking cannot, baking some cookies or muffins beforehand can be a powerful means of providing a great first impression and making visitors feels like they’re home. The addition of room spray or music may also mean potential homebuyers won’t mind lingering a little longer.

Successfully staging a home can be a matter of common sense, but engaging a buyer’s emotions can go a long way towards making an even better impression. Contact your mortgage professional for more information.