Posts from May 2016
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20
Mortgage Rates This Year Dive to Lowest Point Yet
The 30-year fixed-rate mortgage (FRM) has plummeted to its lowest point yet this year, according to Freddie Mac's most recent report, reaching a three-year low overall at an average of 3.57 percent, with an average 0.5 point.
"Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March," Freddie Mac Chief Economist Sean Becketti explains. "As a result, the 30-year mortgage rate fell four basis points to 3.57 percent, a new low for 2016 and the lowest mark in three years. Prospective homebuyers will continue to take advantage of a falling rate environment that has seen mortgage rates drop in 14 of the previous 19 w...
15
The 3 Ds of Staging
(BPT)—Staging your home ensures a speedy, profitable sale—if the senses are considered. Prospective buyers interpret a potential home through all of their receptors, and that includes senses like sight and smell.
To stage to this effect, remember the three Ds:
Deep-Clean the Selling Points
Kitchens and bathrooms sell homes—but they must be immaculate to do so. In the kitchen, clean inside appliances that are staying put: the dishwasher, oven and refrigerator. Replace the filter in the range hood, if you have one, and polish windowpanes to a sparkling finish. In the bathrooms, de-scale glass shower doors and showerheads and scrub the grout. Clean metal drain grates, and add in a few drops of sweet-smelling essential oils to maintain a "freshly-cleaned" aroma.
Deter Odors
Most households have their own unique scent, likely indistinguishable to the seller, but potenti...
12
Things Your Inspector Missed That You Can Still Catch
Home inspections are an important part of the home buying process. Before finalizing an offer, hire a home inspector who will check the condition of the home. A home inspector will check things such as the electrical system, roof, and ventilation. Although a home inspector will thoroughly review a home, his or her main concern is the actual house, not the surrounding areas. It is possible that your home inspector may miss problems around the home.
8
8 Ways to Boost Your Home's Value
Improving the look and functionality of your home goes a long way toward boosting its value. But what types of renovation are today's buyers looking for?
Consumer Reports reveals the most sought-after amenities:
Allowance for Aging in Place – As people are living longer and the number of senior citizens continues to increase, buyers see the long-term value of walk-in showers, comfort-height toilets and master bedrooms on the main floor.
Color and Light Matter – Fresh paint, natural color schemes and window treatments that let in the light will improve the look, as well as the value, of your home.
Energy Efficiency – Buyers are interested in energy costs and efficiency. ENERGY STAR appliances, high-efficiency windows and LED lighting help to lower the cost and increase your home's 'green' appeal.
The Great Outdoors – Up your home's curb appeal...
5
Hoping to Buy a Home?
Planning to purchase a home in the next year? Don't let poor credit dash your hopes!
Subprime credit—generally between 300 and 600 on the VantageScore scale—can inhibit a buyer's ability to secure a mortgage. Recent research from TransUnion®, one of the three major credit bureaus, shows many first-time buyers, particularly millennials, are lacking in the credit department: 43 percent of would-be millennial buyers surveyed by the agency have a subprime credit score.
"Credit scores are a crucial component of the home-buying process, impacting everything from the size of a mortgage payment to the interest rate on a home loan," says Ken Chaplin, TransUnion's senior vice president. "People with subprime credit may face financial barriers to homeownership, making it difficult for their dream home to become a reality.
"Th...