Some Highlights: Home Sales are up year-over-year in the top 4 price ranges and only slightly below last year's numbers in a fifth. A lack of distressed property inventory has led to a slow down in sales in the under $100K price range. As home prices continue to rise, there will be less homes available for sale in the lower ranges. … [Read more...]
Obstacles to Homeownership: Perceived or Real?
Yesterday, we discussed the belief Americans have in homeownership and their desire to partake in this piece of the American Dream. We also discussed some of the obstacles preventing them from attaining that goal. However, studies have shown that that many of the obstacles mentioned are perceived, not real. A recent study by Fannie Mae, What Do Consumers Know About The Mortgage Qualification Criteria?, revealed that many consumers are either unsure or misinformed regarding the minimum requirements necessary to … [Read more...]
Homeownership Still Part of the American Dream
The National Association of Realtors (NAR) just released the first edition of their Housing Opportunities and Market Experience Survey (H.O.M.E.). NAR explained that the report covers: “…core topics that will be tracked on a monthly basis such as views on housing as a good financial investment, whether homeownership is part of the American Dream…” The current survey confirmed two long standing beliefs regarding homeownership: 1. Americans at every income level believe homeownership is … [Read more...]
Real Estate Shines as an Investment in 2015
A survey by The Joint Center of Housing Studies at Harvard University reveals that when a family is buying a home they consider the financial benefits of homeownership along with the social benefits. The survey mentions things like: Paying rent does not make sense Homeownership provides a good financial opportunity Owning a home helps you building family wealth Buying a home is investing in your retirement Home equity gives you something to borrow against So how did homeownership match up against other investments … [Read more...]
Top Reason to List Your House For Sale Now!
If you are debating listing your house for sale this year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes For Sale The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage: “While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.” The latest … [Read more...]
Thinking of Selling Your Home? Get Ready to Negotiate!
Now that the market has showed signs of recovery, some sellers may be tempted to try and sell their home on their own (FSBO) without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation. In most cases, the seller is not. The seller must realize their ability to negotiate will determine whether they can get the best deal for themselves and their family. Here is a list of some of the people with whom the seller must be prepared to negotiate if … [Read more...]
Check Your Credit Report
Applying For A Mortgage? Check Your Credit Report First! The Fair Credit Reporting Act requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months. The three companies – Equifax, Experian, and TransUnion – have set up this central website through which you can check your credit report for free. Visit www.annualcreditreport.com to get a free, no strings attached, copy of your credit report. Keep in mind that the … [Read more...]
Home Buyer Grants for Louisiana Borrowers!!
Home Buyer Grants for Louisiana Have you heard of the NHF Platinum Program? The NHF program provides home buyer grants for Louisiana borrowers. The program is offered by the National Homebuyers Fund which is designed to increase home ownership opportunities for low-to-moderate income individuals and families in multiple states. The fund provides Down Payment Assistance (DPA) in several states now, including Louisiana! And remember, these are home buyer GRANTS, not a 2nd … [Read more...]
Changes To Flood Insurance Deductibles
New Increased Flood Insurance Deductible Option There is a new $10,000 deductible option available for residential properties. For homeowners facing escalating flood insurance rates, these changes to flood insurance deductibles will be an option to help lower premiums. To take advantage of these savings, homeowners must be willing to pay a greater portion in the event of flood losses. Provided your mortgage company will permit the higher deductible, this high deductible option may offer homeowners some relief … [Read more...]
Changes To Flood Insurance Rates – Will Your Rate Increase?
Many local homeowners will be seeing changes to flood insurance rates in 2015 and 2016. The changes became effective on April 1, 2015 and will be applied to the next renewal of your flood insurance policy. These changes are increasing rates for many homeowners in the area, but don't be alarmed unnecessarily. We have all the details covered below. If you have questions about these changes or how these changes will affect the value of your property, contact us at 985.502.9707 or click here to send us a … [Read more...]