Wednesday, February 14, 2018

Which Comes First… Marriage Or Mortgage?


Which Comes First… Marriage or Mortgage?
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.
But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year.
If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2017, while single men accounted for 7% of buyers. A recent report pointed to a sense of responsibility and commitment that drives many single women to want to own their own homes rather than rent someone else’s.
Here is the breakdown of all first-time homebuyers in 2017 by percentage of all buyers, income, and age:
Which Comes First… Marriage or Mortgage? | Keeping Current Matters

Bottom Line

You may not be that much different than those who have already purchased their first homes. Meet with a local real estate professional today who can help determine if your dream home is already within your grasp.


Source: Keeping Current Matters | The KCM Crew 021418

Tuesday, February 13, 2018

5 Reasons To Love Using A Real Estate Pro

5 Reasons to Love Using A RE Pro [INFOGRAPHIC] | Keeping Current Matters

Highlights:

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
  • They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.

Source: Keeping Current Matters | The KCM Crew 020918

Thursday, February 8, 2018

Where Are Mortgage Interest Rates Headed In 2018?

Where Are Mortgage Interest Rates Headed in 2018?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | Keeping Current Matters

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.
According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.
If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

Source: Keeping Current Matters | The KCM Crew 020718

Where Are Mortgage Interest Rates Headed In 2018?

Where Are Mortgage Interest Rates Headed in 2018?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | Keeping Current Matters

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.
According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.
If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

Source: Keeping Current Matters | The KCM Crew 020718

Tuesday, February 6, 2018

8 Ways to Love Your Small Space More

Discover bedroom design ideasDiscover bedroom design ideasA+B KASHA Designs
When we run stories on living in homes with petite proportions, you often tell us, "Small? You should see my house!" Because we aim to please, we've rounded up some of the tiniest rooms on Houzz, picking those that pack plenty of ideas and function into a small space. We think that these are indisputably compact. But, more important, do you?
Pack it in. This bedroom may be minute, but it is perfectly formed. Rather than conventionally putting the headboard on the back wall, the owners found just enough space to turn it so that the side of the bed runs along the back wall.
This could look cramped and messy but instead looks airy and designed. Here's why.
  • Crumpled bed linen allows the bed not to be made perfectly (which can be a pain when a bed is surrounded on three sides) but still looks clean, stylish and, especially, cozy and inviting.
  • Deep storage drawers beneath the bed take the place of bulky furniture elsewhere.
  • An almost one-color palette - the drawers are the same pale color as the bed and walls, and the floor is pale too - banishes harsh boundary lines and visually expands the space.
  • A wall light is nearly always the best solution for teeny spaces, since it frees up surface area that might otherwise house a table lamp.
The high shelf enhances the feeling that the room is bigger than it is, especially since its use is decorative and not functional. Why? If a room appears to have space to use shelves purely for display, it simply feels as though it must have the space to do so - a little brain trick! Choose light or transparent objects, which won't visually fill up the room, or get designer-y if you're so inclined and display paperbacks with their spines facing inward to add texture, but not color.
Scale your furniture. This wee living room, which flows into a small dining space, shown in the foreground, has lots of smart tips to pick up.
Furniture is scaled down, so as to give the room the impression of being bigger than it is and to avoid overcrowding. Take the spool coffee table: Not only is it low and compact, but it's also circular, often a wise shape in small spaces since curves can intrude less into a space than corners.
The side table next to the petite sofa and the armchair are interesting choices too, as each is designed to let light through them, meaning they don't block space and light.
Incorporating up-and-over storage, which makes use of otherwise unused areas above a door frame and high-up wall space, is an absolute winner of a way to pack more into a little space without making it feel cramped.
Divide and conquer. Picture, for a moment, walking into this studio apartment before that shelving unit had been built and before the glass screen went up. You'd risk feeling as if you'd arrived home and straight into the dining table. Subtle and interesting divisions of space — especially those that don't close it off, as shown here - are your friends.
Highlight cuteness. This teeny sink could get swallowed by a vanity, but with the hairpin legs, its petite proportions are really highlighted. The legs also make it look more elegant and important. As already discussed, something may be small, but if you make it really special, no one will be thinking about whether it's big enough. Instead, they'll just be admiring it, as hopefully you will also do daily. Distraction as a tool should not be underestimated!
Another great idea here is to have wall-mounted faucets when you have to have a smaller-than-average sink — the last thing you want is deck-mounted ones impinging on the little space you have. Act out washing your face exuberantly before you buy -- if none of the water has a chance of going back into the sink, think again. Or design a wet room around it where it won't matter.
Go custom. This little home office is clever on several fronts. First off, rather than feeling thwarted by that low, skinny window, the owners simply worked around it. The desk cuts through it, but by painting the desktop and the window frame the same color, the two features work with rather than against each other.
Investing in custom design for a space that needs to be functional is also a good tip to take from here: Just look at how much storage has been packed in and at how deep the desk is. It looks so obvious when you see it now, but the secret of good design is that it's so often deceptively simple.
Lie low. This rooftop garden plays with proportions. Opting for furniture that's low to the floor gives an impression of more head height. It's a trick that works more obviously in rooms with low ceilings, but you can see how effective it is at also making this area feel like a welcoming lounging spot.
Another tip to take away is not to scrimp on planting. You may think that crowding the space with greenery will shrink it. In fact, doing so is likely to make you feel as though you're in a lush, extravagant secret garden. But do choose plants that are easy to prune and handle, and that have soft foliage you can brush past without ducking, diving and contorting.
Ignore convention. No space for that statement slipper or roll-top tub? Are you sure? Of course, having wall space on both sides would be more conventional, as would generally putting a fancy bath in a more generously sized room, but a small bathroom hasn't stopped these homeowners from going big on their bathing spot. And what better way to make the most of a lush view like that?
Build your own sofas. When you can't find the right sofa for a very small living room, consider copying this idea. The homeowner had her own bench seating built around the room, and beneath the cushions, she's bagged loads of extra storage to boot.
Ensure that you design benches to be deep enough for slouchy TV-watching comfort, and invest in good-quality, thick cushions, which you can get made at a foam-cutting shop. This is furniture you'll spend a lot of time on, so before you go ahead, make it your mission to seek out and try out every bench seat in your area - in cafes, friends' homes, shops - so you can figure out what you do and don't like.


Source: Realty Times | Kate Burt, Houzz 020118

Monday, February 5, 2018

Whether You Rent Or Buy, Either Way You’re Paying A Mortgage!

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.


Source: Keeping Current Matters | The KCM Crew 020518

Thursday, February 1, 2018

Bidding Wars Abound… How Long Will They Continue?


Bidding Wars Abound… How Long Will They Continue?
Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.
In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.
CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price.
“The share selling above list price was almost three times the trough in January 2008 and represented more than one-fifth of total sales.”
Many markets in the western part of the country and around major cities are experiencing higher shares of homes selling above list price.
“San Francisco had the largest share of homes—76 percent—that sold for at least the list price, and Seattle and Los Angeles followed with 63 and 51 percent, respectively. Miami had the lowest share—16 percent—of homes selling at or above the list price.”
Increased demand during the spring and summer months, the traditionally busier seasons for real estate, will no doubt influence how many homes continue to sell over list price.
This should not be seen by sellers as permission to overprice their homes, though. Buyers are becoming more and more educated, especially those who have been searching for their dream homes for a while now while waiting for new inventory to come to market.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

Bottom Line

Without a large wave of new listings coming to market, buyers will continue competing with each other for the homes that are available. If you are thinking of selling your home, now may be the time to do so before more competition comes this spring. Contact a local real estate professional who can help you determine the demand for your house in your area.


Source: Keeping Current Matters | The KCM Crew 020118