You already know about the tax benefits of buying a home and the long-term financial advantages created by rising home values and bankable equity. But RealtyTimes.com lists some of the associated benefits of home ownership might surprise you.
Tag Archives: real estate
More Buyers Than Usual Enter Spring Market
An unusually high volume of home-buyer demand is flooding the spring market, as pending home sales rose in March for the third consecutive month and hit the highest level since June 2013, according to the National Association of REALTORS®. Pending sales rose 1.1 percent month-over-month in March and are 11.1 percent above year-ago levels, according to NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings.
Mortgage rates unchanged: Is this the calm before the storm?
Realtor.com says, “Freddie Mac reported interest rates largely unchanged from last week, even as pending home sales increased. Buyers are out shopping, yet they still have very few homes to choose from in most markets. That said, for the fortunate buyers who have signed contracts to purchase an existing home, interest rates have been cooperating, but maybe not for long. The Federal Reserve has indicated it will exercise its judgment as to whether to raise rates in June. Most experts believe rates will rise, and that seems to have sent more people to their lenders applying for mortgages. Applications for new mortgages increased 4.6% for the week ending March 27, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. So, while you can, please enjoy a 30-year fixed-rate mortgage at about 3.70% for the week ending April 2. Last week, rates averaged 3.69%, down from 4.41% a year ago this time.”
Missed out on the refi boom? You may be in luck!
MainStreet.com says, “The housing crash put a lot of homeownership dreams on hold. Lending went from paperless applications and mindless approvals to stringent restrictions, pristine credit requirements and creeping rates. Not only was buying a home growing out of reach for first-timers, but refinancing an existing mortgage was practically out of the question. A lot of people felt like they had missed an opportunity for owning a home of their own. Now, they may be getting a second chance. Housing prices have risen, but moderated. Lenders are once again open for business – and rates have slipped back to those “near historic lows” that tempted us so much in the first place. And revised mortgage fees recently implemented by the Federal Housing Authority could mean even more incentives – for prospective buyers and refinancers alike.” See the full article.
Real estate news: Sales contracts continue to edge Up
Pending home sales inched up in November, moving above year-over-year levels for the third consecutive month, according to the National Association of Realtors® latest Pending Home Sales Index report. The index is a forward-looking indicator based on contract signings. All regions saw a slight gain in sales activity in November, except for the Midwest, NAR reports. Nationwide, the index ticked up 0.8 percent to 104.8 in November, and is now 4.1 percent above November 2013 numbers. It marks the highest year-over-year gain since August 2013, when the index jumped 5.6 percent year-over-year. “With rents now rising to a seven-year high, historically low rates and moderating price growth are likely to entice more buyers to enter the market in upcoming months,” says Lawrence Yun, NAR’s chief economist.
From Realtor Magazine, January 2015. Read the full article here.
Three kitchen remodeling blunders to avoid
There you are, standing in a kitchen design store or home center, and the stainless-steel appliances dazzle, the granite counter tops add just the right warmth. This is what money, lots of money, can buy. But before you spend a dime, look for the downside, that thing that will disappoint or drive you crazy. Here, from the experts at Consumer Reports, is what the salespeople won’t tell you.