Simple Fixes To Help Your Home Sell More QuicklyComments Off on Simple Fixes To Help Your Home Sell More Quickly
If one of your New Year’s Resolutions is to sell your Lombard home, there are a few simple steps you can take to help prepare it for showings.
With a prospective buyer in mind, take a tour of your home, making a list of the good, the bad, and the not-so-bad. You may spot areas in need of major renovation; and areas which could benefit from just a basic touch-up.
It’s these latter areas which will likely yield the biggest return on your investment so, in preparation for making your home “buyer ready”, consider these steps.
You’ll spend a small sum to make these improvements but the rewards can be more home showings, which can lead to more home offers, which can help you get the price you want for your property.
Your home may also sell more quickly.
Homebuilder Confidence Nearly Triples In 2 YearsComments Off on Homebuilder Confidence Nearly Triples In 2 Years
The National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month, posting a value of 47. The January 2013 reading is on level with last month, and remains at a near 7-year high.
The Housing Market Index (HMI) is a measure of home builder confidence.
HMI readings below 50 indicate a “poor” new construction conditions for single-family homes nationwide; ratings above 50 signal “good” ones.
Not since April 2006 has the Housing Market Index crossed into “good” territory, but the past two years have witnessed the HMI nearly triple; and the index is up from a reading of 25 just twelve months ago.
Values would have likely increased this month, too, if not for builder uncertainty. The NAHB cites concern over prolonged legislative decisions as contributing factors to this month’s builder confidence reading. Specifically, the trade group expressed concern over the future of the federal income tax deduction for home mortgage interest and spending cuts related to the recent, so-called “fiscal cliff”.
As compared to the month prior, this month’s HMI showed the following :
January marks the tenth consecutive month through which buyer foot traffic has increased. Foot traffic is now at its highest level in nearly 7 years.
The NAHB Housing Market Index suggests a slow, steady rise in confidence among the nation’s home builders. This is occurring, in part, because of improving housing market conditions both nationally and regionally. Another factor is rising confidence among today’s home buyers.
Home sale prices Naperville remain relatively low and mortgage rates sit below 4 percent. With demand for homes growing, prices are expected to rise. Home buyers this season may be more likely to get a good “deal” than the buyers of spring or summer.
Improve Your Credit Score To Get Better Mortgage RatesComments Off on Improve Your Credit Score To Get Better Mortgage Rates
For home buyers in Lombard and nationwide, credit scores can change low mortgage rates and alter home loan approvals.
Borrowers with high credit scores get access to lower mortgage rates, for example, and can find the mortgage approval process to be more smooth that borrowers with low credit scores.
If your credit score is low, here are some basic ways to help improve it.
Get The Reports
Check For Errors
For items which are harming your score, such as a 30-day or 60-day mortgage late payments, medical collection items, and/or judgments, consider writing a brief letter which explains the circumstance of the derogatory credit event. Such a letter won’t help your score to improve, but it can help your lender to make better credit decisions, which can aid in “exceptions”, if required.
Making even minor changes to an overall credit profile can yield measurable long-term results. It can also result in lower mortgage rates.
Selling? Improve The Appearance Of Your Home’s Bathrooms.Comments Off on Selling? Improve The Appearance Of Your Home’s Bathrooms.
Full-scale bathroom remodeling can be expensive and, in today’s Chicago housing market, you won’t likely get all of the money back that you put into it at the time of sale.
Knowing that bathroom projects tend to have a low return on investment, therefore, here are a few inexpensive changes which you can make to spruce up bathrooms in a home for sale.
Making a good impression on your prospective buyers can be easier when you’ve redone a bathroom. It doesn’t require much money, and it may increase the final sale price of home.
What’s Ahead For Mortgage Rates This Week : January 14, 2013Comments Off on What’s Ahead For Mortgage Rates This Week : January 14, 2013
Mortgage rates rose last week nationwide during a week of sparse economic news.
Thursday’s weekly jobless claims report showed 371,000 new claims, which was 1,000 fewer jobless claims than for the prior week. Wall Street expectations of 365,000 new jobless claims turned out to be too optimistic.
The semi-quarterly statement released Thursday by the European Central Bank (ECB) announced that the region’s inflation remains below its 2 percent ceiling as established by central banker. Economic weakness in the Eurozone is expected to persist into 2013 with signs of recovery becoming evident toward the end of this year.
ECB cited financial and structural reforms as essential to economic recovery, and noted that national governments within the Eurozone have been slow to implement such reforms. Without such reforms, Euro-area economies may continue to struggle, which would likely lead investors to seek a safe haven in the bond market, moving bond prices higher.
As bond prices rise, mortgage rates in Lombard and nationwide typically fall.
Also last week, Freddie Mac’s Primary Mortgage Market Survey reported the average rate for a 30-year fixed rate mortgage rising from 3.34 percent to 3.40 percent for buyers paying 0.7 percent in discount points plus closing costs. The average rate for a 15-year fixed rate mortgage rose from 2.64 percent to 2.66 percent.
Required discount points for the 15-year fixed rate mortgage rose from 0.6 to 0.7 percent.
Import prices for December released Friday were reported at -0.1 percent, below the consensus estimate of +0.1 percent. This report measures the prices of goods purchased in the U.S, but produced abroad and is considered an important indicator of inflationary trends affecting internationally produced goods.
Inflation tends to harm mortgage rates.
Next week’s economic calendar is full of economic data and includes the release of the Producers Price Index (PPI), Retail Sales figures, the Consumer Price Index (CPI). The Fed is also set to issue its Beige Book report, and the NAHB Housing Market Index and Consumer Sentiment report will be released.
Mortgage rates remain low, but are rising.
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Help Your Pets Adjust To Your New HomeComments Off on Help Your Pets Adjust To Your New Home
Moving to a new home can be a difficult transition for everyone in the family, including the furry, four-legged members.
Dogs and cats develop a strong bond with their environment so when they are relocated from their territory it can cause them stress.
Here are some tips to ease your pets’ transition to a new home :
Keep Your Mood Calm
Transporting Your Pet
Dogs find routines comforting, so try to stick to the same schedule of feeding and walking in your new home. Cats will want to explore and rub their scent all over the house to claim it as their territory. A cat might attempt to return to its old home after a move, so keep it indoors for a few weeks at first.
These are just a few ways that you can make moving to a new home a better experience for your beloved pets. If you’d like more suggestions for helping your pets and family adjust to a move, call or email me with your questions.
What To Do When Your Home Doesn’t Appraise At Its Purchase PriceComments Off on What To Do When Your Home Doesn’t Appraise At Its Purchase Price
Experienced home sellers in Naperville know that reaching a sales agreement with a potential buyer can be just the start of the negotiation process. There are often inspection issues to resolve, among other items.
One particular negotiation point which can present difficulties for both buyers and sellers is when a home’s appraised value falls short of its contracted sales price.
Sometimes, this happens because the home’s price was inflated. Other times, it’s the result of a faulty appraisal.
As a home seller, there are some common appraisal problems of which you should be aware. Here are some of them, and how to seek remedy so that the home sale process remains smooth.
Ignored market conditions
Slow turn-around time
To err is human and appraisers make mistakes occasionally. How you handle those mistakes as a seller can be the difference between a sold home and a canceled contract.
27 Months Of Consecutive Job Growth Helping Home Prices RiseComments Off on 27 Months Of Consecutive Job Growth Helping Home Prices Rise
The Bureau of Labor Statistics (BLS) Non-Farm Payrolls report for December exceeded Wall Street’s expectations by 5,000 net new jobs, showing 155,000 positions created in December.
The December tally raised the economy’s 12-month total to 1.84 million net new jobs created nationwide. Jobs added in December mark the 27th consecutive month of job growth.
Job sectors showing the strongest growth to close out 2012 included:
Private-sector hiring is driving the jobs market, too. 168,000 new private sector jobs were added in December. Government jobs fell by thirteen thousand.
Monthly job creation has averaged +153,000 jobs since 12 months ago. It’s a fine measure of growth but economists believe it’s not enough job creation to significantly reduce the national unemployment rate. 14.4 percent of workers are categorized as under-employed.
December’s national unemployment rate was 7.8 percent, representing 4.8 million job seekers. This figure matched Wall Street’s expectations and was equal to November revised unemployment rate of 7.8 percent.
The improving jobs market and national unemployment rate make an impact on both mortgage rates and home prices.
Job creation suggests an expanding economy, which typically leads mortgage rates higher. In addition, with more employed persons nationwide, the potential home buyer pool grows larger, which introduces new demand to the housing market. With more demand, all things equal, home prices rise.
Job growth is one reason why home values climbed more than 5 percent in 2012, according to the Federal Home Finance Agency; and why the national housing supply would be exhausted in fewer than 5 months, at the current sales pace. Demand for homes is high and today’s low mortgage rates are extending buyer purchasing power.
For home buyers, the expanding U.S. economy and steady job growth suggests that home prices may not rocket higher this year, but will continue to increase, little by little.
|Simple Fixes To Help Your Home Sell More QuicklyComments Off on Simple Fixes To Help Your Home Sell More Quickly|
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