Posts from April 2014
Coldwell Banker American Homes Blog
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April
25
25
5 Signs That You're Ready to Buy a 1st Home
Buying your first home takes stamina, desire and commitment not only to navigate the complicated and time-consuming purchase process, but also to learn the ropes of being a responsible homeowner.
Maybe you've dreamed about buying. Or perhaps you've researched for-sale homes online, tried to calculate how much you can afford to spend, or peeked inside a few open houses.
But are you really ready, emotionally and financially, to step up your game and make your move? Here's a look at what mortgage and real estate pros know about who's good to go and who needs more time to prepare for homeownership - five ways to know if you're ready to buy your first home.
PLAN TO STAY: Buying a home might seem like a no-brainer if your mortgage payment would be less than the rent you're paying.
But that comparison doesn't accoun...
April
22
22
5 ways to jump-start your credit score
(BPT) - It's a common financial predicament for most 20-something-year-olds: You need credit to get credit. But even if you're older and have been through some credit-wrecking havoc in your life, you could face the same issue.
'The only way to build a credit history is to use credit,' explains Maxine Sweet, vice president of public education at the credit bureau Experian. So here are five easy steps to help get you started.
* Know the score: Figure out what credit history you've established. Even if you've never had a loan or credit card, there's a good chance you have information on your credit reports that has been compiled by the three major credit bureaus: Equifax, Experian and TransUnion. For instance, Experian now collects rental payment histories, so some landlords submit reports to credit bureaus.
Under federal law, the three...
April
18
18
Buyers Bloom in the Springtime
Daffodils, April showers, robins and a new crop of For Sale signs seem to be working their seasonal magic on home buyers. The latest Fannie Mae survey, conducted in March, reports that the gloominess that shrouded buyers during the bitter winter months has melted away and attitudes are nearly as positive as they were a year ago.
Consumers who say it's a good time to buy reached 69 percent, the highest buyer confidence has been since September and just below 71 percent levels of March and April last year. Confidence fell as low as 65 percent in January when concern over interest rates was high. Concern over rates fell markedly in March. The percentage of those who expect rates to rise fell from 56 to 54 percent from February to March and those who expect rates to fall rose from 34 to 38 percent.
Expectations that prices will increase also declined f...
April
15
15
Master suite upgrades: the secret to a speedier home sale
(BPT) - All signs point to a hearty real estate market this summer. Experts say more inventory will be available and buyers will have an easier time getting mortgages, all of which means more competition among sellers.
If you plan to put your home on the market this spring or summer, you might be looking for the most cost-effective renovations to set your house apart from the competition. Assuming you've already taken care of the two top rooms to renovate - kitchen and bathroom - what's your next move?
Three words: master suite upgrades.
Americans spend a lot of time in the bedroom. The master suite is, arguably, the area of the house where you most want to feel like the king or queen of your domain. After yo...
April
11
11
Mortgage Rates Dip as Spring Home-Buying Season Begins
Mortgage rates across the United States have dropped slightly, just as the spring home-buying season has kicked into gear.
The average rate on a 30-year fixed mortgage dipped to 4.34% from 4.41% last week, according to the latest survey from mortgage buyer Freddie Mac. At this time last year-when rates hit record lows-the average was 3.43%.
"Mortgage rates eased a bit following the decline in 10-year Treasury yields." Frank Nothaft, vice president and chief economist at Freddie Mac, said in a statement. "Also, the economy added 192,000 jobs in March, which was below the market consensus forecast but followed an upward revision of 22,000 jobs in February. Meanwhile, the unemployment rate held steady at 6.7%."
Th...