Blog – Page 248 of 786 – Fred Gruber - First Rate Financial Group

20

Apr

Investment Properties

7 Inexpensive Upgrades You Can Make To Your Rental Property

7 Inexpensive Upgrades You Can Make To Your Rental Property Upgrading your rental doesn’t need to cut deeply into your profits. You can add curb appeal and help prospective tenants see your rental as their next home by making some simple changes. The following upgrades are all things that a handy landlord can do without needing to hire professional contractors.

1. Decorative Switch Plates

Replace ugly cream switch plates with either stainless steel models or decorative designs. Fancy switch plates for light switches and electrical sockets cost very little, yet make any room look nicer. The best part is, you can do the replacements yourself, using only a screwdriver.

2. Flower Beds

Beautiful flower beds make any rental look more inviting. You can enhance curb appeal by planting inexpensive perennials around the front of the rental and along the pathway leading up to the door. Top off your newly planted flower beds with a fresh layer of colored mulch.

3. Kitchen Cabinet Refacing

Kitchen cabinets are pricey, but it’s cheap to just reface existing cabinets. You can either replace the entire doors or take them off and give them a fresh sanding and a couple of coats of varnish or paint.

4. Fresh Paint

Even quality paint is inexpensive. Give your rental a beautiful new look with fresh paint throughout. You’ll want to use neutral tones, but consider making an accent wall, painted with an attractive color.

5. New Light Fixtures

Old light fixtures make a place look dated. You can pick up inexpensive light fixtures at big box home improvement stores. This simple upgrade will make your rental more attractive and modern.

6. Broom Storage Area

Most rentals don’t come with a broom closet, but you can create a makeshift broom storage area very cheaply. Just pick up some plastic broom holders and a shelf from the hardware store. Attach the broom holders to the wall and hang the shelf over that. Your tenants will appreciate the upgrade!

7. Fresh Window Treatments

Window treatments make a house look like a home. Replace window blinds or shades for an instant upgrade. Curtains are even cheaper and can be laundered and reused between rentals.

No matter where your rental is located, you can make it more attractive with these easy and inexpensive upgrades that you can do yourself.

19

Apr

By First Rate Financial Group

Financial Reports

What’s Ahead For Mortgage Rates This Week – April 19, 2021

What's Ahead For Mortgage Rates This Week - April 19, 2021 Last week’s economic news included readings from the National Association of Home Builders on housing markets along with Commerce Department readings on housing starts and building permits issued. Fed Chair Jerome Powell appeared on 60 Minutes. Weekly readings on mortgage rates and jobless claims were also released.

NAHB: Homebuilder Confidence Ticks Up

The National Association of Home Builders reported that home builders’ confidence in housing market conditions rose one point to an index reading of 83. Builder confidence readings over 50 indicate that most builders consider housing market conditions as positive.

Component readings used for the NAHB Housing Market Index were varied. Builder confidence in current market conditions rose one point to 88 and home builders’ confidence in housing markets over the next six months fell two points to 83. The index reading for home buyer traffic in new housing developments rose three points to 75. Homebuilders faced ongoing challenges including supply chain problems, rising materials prices, and meeting the need for affordable homes.

In related news, the Commerce Department reported a seasonally adjusted annual pace of 1.74 million housing starts in March. 1.77 million building permits were issued at a seasonally adjusted annual pace in March.

Mortgage Rates, New Jobless Claims Fall

Freddie Mac reported lower average mortgage rates last week as the rate for 30-year fixed-rate mortgages dropped by nine basis points to 3.04 percent; rates for 15-year fixed-rate mortgages dropped by seven basis points to 2.35 percent. Rates for 5/1 adjustable rate mortgages averaged 2.80 percent and were 12 basis points lower. Discount points for fixed-rate mortgages averaged 0.70 percent for fixed-rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims fell to 576,000 claims filed last week as compared to 769,000 initial claims filed the previous week. Ongoing jobless claims were unchanged from the prior week at 3.73 million claims filed.

The Commerce Department released inflation data for March. The Consumer Price Index rose by 0.60 percent as compared to February’s growth rate of 0.40 percent; analysts expected a March reading of 0.50 percent. Core inflation, which excludes volatile food and fuel sectors rose 0.30 percent in March and exceeded expectations of 0.20 percent growth. Core inflation rose by 0.10 percent in February.

Fed Chair Jerome Powell appeared on 60 Minutes on Sunday; he said that that the global economy would not return to normal until the COVID pandemic is controlled, but he presented a brighter picture for the U.S. economy. He said that the national economy is expected to grow between six to seven percent and that the national unemployment rate could fall to four or five percent from its current rate of six percent.

What’s Ahead

This week’s scheduled economic news includes readings on readings on sales of new and previously-owned homes and weekly readings on mortgage rates and jobless claims.

16

Apr

By First Rate Financial Group

Real Estate

NAHB: Home Builder Confidence Ticks Up in April

NAHB: Home Builder Confidence Ticks Up in April The national reading for home builder confidence rose one point to an index reading of 83 in April; the National Association of Home Builders predicted a reading of 84. Component readings for April’s national index readings were mixed. Builder confidence in current market conditions for single-family homes rose one point to 88. Builder confidence in market conditions for single-family homes in the next six months fell two points to 81 but homebuilder confidence in buyer traffic in new home developments rose two points to an index reading of 75.

Readings over 50 indicate a majority of builders are positive about housing market conditions. Buyer traffic readings published before the pandemic rarely exceeded index readings of 50.

Regional Home Builder Confidence Varied

Regional readings for home builder confidence varied in April. The Northeast region reported an index reading of 84 in April, which was two points lower than in March. The Midwestern region’s April reading was three points lower at 75 than in March. Homebuilder confidence in the South rose two points to 84 and builder confidence in the West was unchanged with an index reading of 92.

NAHB’s Three-month moving average of regional homebuilder confidence in housing market conditions reported for the Northeast rose six points to 86; builder confidence in the Midwest fell two points to 78 and builder confidence in housing market conditions rose one point to 83. Builder confidence in housing market conditions in the West was unchanged at an index reading of 90.

High Demand for Homes Persists as Materials Costs Limit Affordability

Shortages of available pre-owned homes continued to boost new home sales, but rising materials costs and supply chain issues presented ongoing challenges to builders. NAHB Chair Fowkes said, “The supply chain for residential construction is tight, particularly regarding the cost and availability of lumber, appliances, and other building materials.”

Affordability is a substantial obstacle for first-time and moderate-income home buyers Prices of pre-owned homes are rising at their fastest pace in 15 years as mortgage rates move higher. NAHB Chair Fowkes also said, “Though builders are seeking to keep prices affordable…policymakers must find ways to increase the supply of building materials as the economy runs hot in 2021.”

Homebuilders and potential home buyers can expect ongoing challenges in 2021. As home prices rise, fewer families can enter the housing markets; other potential buyers may decide to postpone buying homes until home price growth eases.