Blog – Page 707 of 938 – Fred Gruber - First Rate Financial Group

23

Feb

Home Seller Tips

5 Things Nobody Tells You About Selling Your First Home

5 Things Nobody Tells You About Selling Your First Home It’s often so exciting to think of buying a new home that homeowners forget about the sale, but there are a lot of details involved in putting a home on the market. Whether you’re just considering selling or are readying to put your home up, here are some things you might not know about the process.

Marketing Strategy Is Important

The days of putting a sign on the front yard and waiting for buyers are gone, so it’s important to have a strategy that will successfully highlight your house. Whether you decide to make a website, use social media or invest in a professional photographer, ensure you’re prepared to put your home out there.

The Right Price Is Everything

You have the ability to change your asking price at any time, but it’s best to hit the market with a price that is both reasonable and competitive. This will not only prevent your home from lingering on the market, it will make it more likely you’ll get the offer you’re looking for.

Fixing It Up Is Important

You might want to avoid minor fix-ups before selling your home, but maintenance issues can impact the offers you’ll receive. Instead of leaving these for the next homeowner, put time aside to do paint touch-ups, repair doors or insulate the windows so the small things don’t affect your offer.

Prepare To Pack

It’s great to receive an offer on your home, but packing up can be one of the most stressful aspects of moving. Instead of leaving this to the last minute, do some preliminary ‘spring cleaning’ to discard the stuff you won’t use and pack up the stuff you won’t soon need. This will make moving out a little smoother.

Be Ready For An Open House

It can be a pain to stage your home and leave on short notice to accommodate an interested homebuyer, but a good open house is one of your best bets for selling your home. This means your house should be clean and clutter free all the time so only a few last-minute fix-ups will be required.

There are a lot of things involved in selling your first home, but by completing the little fix ups and choosing the right price, you’ll be well on your way to an interested buyer.

22

Feb

By support

Home Mortgage Tips

Did You Know: 3 Reasons Why Mortgage Pre-approval Should Be Your Very First Step

Did You Know: 3 Reasons Why Mortgage Pre-approval Should Be Your Very First Step There are so many details involved in the mortgage process that you may not be aware of what pre-approval is if you’ve just entered the market. However, pre-approval assesses your ability to make monthly mortgage payments and can be an important first step in the home-buying process. If you’re currently contemplating a home purchase, here’s why you may want to consider pre-approval first.

Improved Agent Attention

It may be a lesser-known fact, but it’s often the case that many real estate agents will not spend the time or put significant effort into a homebuyer that has not been pre-approved for a mortgage. While a good real estate agent will assist you in finding a home that’s right for you, if you haven’t gone through the necessary process of determining if you’ll be approved, they may think it’s not worth their time to show you houses you may not be eligible to buy.

A Benefit For Home Sellers

In the event that you happen to come across a home that you want to purchase and make an offer prior to pre-approval, there’s a chance the buyer will not waste their time considering it. Because the pre-approval process can determine errors in your credit history and there’s a wait involved, many home sellers will not want to be held up by this process to sell their home. As a pre-approval can reveal errors and bump up your credit score, it can also be of greater benefit for you to have an accurate number going into the home purchase.

Determines Your Financial Health

While a pre-approval is not a sure sign that your mortgage application will be approved, it can provide a detailed look at your financial health. This means that if you happen to have a less flattering credit history than expected, you can go back to the drawing board, saving more money and making payments, to try and bump up your credit. While this isn’t necessarily enticing for the person who is ready to buy, it can be a benefit for the type of home you’ll be approved for.

It’s common to want to get out into the market and find the perfect house at the right price, but pre-approval is an important process that will help you determine the house you can afford. If you’re currently on the market for a new home, contact your trusted mortgage professionals for more information.

21

Feb

By support

Mortgage Rates

What’s Ahead For Mortgage Rates This Week – February 21, 2017

Last week’s economic releases included readings on housing starts, building permits issued and the National Association of Home Builders/ Wells Fargo Housing Market Index. Fed Chair Janet Yellen testified before the House Finance Committee and consumer spending and core consumer spending reports were also released. Mortgage rates and new jobless claims were little changed week-to-week.

Home Builder Sentiment Slows as Industry Faces Obstacles

NAHB reported lower reading for its January Housing Market Index. January’s index reading was two points lower at 65 than December’s reading. Builders surveyed for the index cited ongoing shortages of buildable lots and labor, they also said that housing regulation were causing home prices to rise as new home prices are adjusted to compensate for feels associated with new construction. Any reading above 50 for the NAHB Housing Market Index is considered more positive than negative.

Builder concerns could raise additional issues for housing markets as a persistent shortage of homes for sale has driven prices up and caused fierce competition among home buyers. First-time and moderate income home buyers have been sidelined in favor of cash buyers in ultra-competitive metro areas. There was some evidence that rapidly escalating home prices may be approaching their peak. Home prices in San Francisco, California increased more slowly in recent months and were unchanged in January.

Housing Starts Lower; More Building Permits Issued

Fewer new homes were started in January as compared to December. 1.246 million homes were started in January as compared to December’s reading of 1.279 million new homes started. Winter weather can cause fluctuations in housing starts; more building permits were issued in January than for December. 1.246 million permits were issued for January as compared to December’s reading of 1.228 million permits issued.

Home builders were also concerned about rising mortgage rates as reducing affordability for would-be home buyers; Fed Chair Janet Yellen indicated in her testimony before the House Finance Committee that economic conditions are normalizing and that the Fed would likely continue to raise the target federal funds rate as economic conditions continue to improve.

Mortgage Rates Fall, New Jobless Claims /Rise

Freddie Mac reported lower mortgage rates last week. Average mortgage rates were two basis points lower at 4.15 percent for 30-year fixed rate mortgages; the average rate for 15-year fixed rate mortgages was four basis points lower at 3.35 percent. 5/1 adjustable mortgage rates were three basis points lower at 3.18 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

New jobless claims were higher last week with 239,000 new claims filed as compared to an expected reading of 242,000 new claims and the prior week’s reading of 234,000 new jobless claims.

What‘s Ahead

Next week’s scheduled economic reports include readings on new and previously owned home sales and consumer sentiment index. Freddie Mac will report mortgage rates and new weekly jobless claims will be released as usual.