Lori Blank

24

Jun

Financial Reports

What’s Ahead For Mortgage Rates This Week – June 24th, 2024

Currently, the Retail Sales Report is the sole report that has weight. With the passage of more optimistic inflation data reports, retail sales coming in slightly under expectations will have little to no bearing on the overall outlook. Given the last major reports indicating the economy's health and state of inflation, there is more optimism toward a potential rate cut this year. Lending partners have still been quick to continue cutting rates. Consumer Price Index Sales at U.S. retailers barely rose in May, suggesting Americans are feeling the weight of lingering inflation and high interest rates. Sales edged up 0.1%…

21

Jun

By Lori Blank

Real Estate Definitions

How to Evaluate an Offer on Your House: 3 Factors to Consider

Selling your house can be both exciting and daunting, especially when you receive offers from potential buyers. It's essential to evaluate each offer carefully to ensure you're making the right decision. Here are three key factors to consider when evaluating an offer on your home: 1. Price The offered price for your home is not just a number but a critical determinant of your return on investment. While a higher offer may seem attractive at first glance, it's crucial to compare it against recent market trends and the appraised value of your property. Sometimes, a lower but more solid offer…

20

Jun

By Lori Blank

Real Estate

Transforming Space to Fit Your Lifestyle

Have you found yourself staring at that spare room wondering what to do with it? Whether it's a small nook or a spacious area, there are endless possibilities to transform it into something that enhances your home life. Here are some inspiring ideas to help you make the most of that extra space: 1. Playroom for the Little Ones:Why not create a vibrant playroom where your kids can unleash their creativity and energy? Fill it with colorful mats, storage bins for toys, and maybe even a mini-table for arts and crafts. It's a win-win: a space for them to play…

19

Jun

By Lori Blank

Holidays

A Commitment to Diversity and Inclusion

This historic day commemorates the emancipation of enslaved African Americans in the United States, and it’s more relevant now than ever as we strive to promote diversity, equity, and inclusion in everything we do. Juneteenth, celebrated on June 19th each year, marks the day in 1865 when Union soldiers arrived in Galveston, Texas, bringing the news of freedom to the last remaining enslaved African Americans. It’s a poignant reminder of both the injustices of the past and the ongoing journey towards equality. We believe in honoring this day not just with words, but with meaningful action. Supporting Juneteenth is about…

18

Jun

By Lori Blank

Real Estate Tips

What Is a Mortgage Origination Fee?

If you're considering buying a home or refinancing your mortgage, you've probably come across the term "mortgage origination fee." But what exactly is it? Let’s take a look at the details to help you understand what this fee entails and why it's an important part of the mortgage process. Understanding the Mortgage Origination Fee A mortgage origination fee is a charge by the lender for processing your loan application. This fee compensates the lender for evaluating, preparing, and submitting your mortgage loan. Essentially, it covers the administrative costs and services provided by the lender from the beginning to the end…

17

Jun

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – June 17th, 2024

A welcome and unexpected data release for both the PPI and CPI shows inflation expectations coming in lower than expected. The positive news was somewhat mitigated by the hawkish FOMC rate decision that also took place during the same week. Still, there is more optimism given that the data releases in the past 30 days have shown signs of inflation coming under control. At the very least, it suggests that the Federal Reserve's policy to keep inflation under control has been effective. As a result, lending partners have quickly cut rates again after the meeting this week. Consumer Price Index…

14

Jun

By Lori Blank

Real Estate

Key Elements and Tips for Maximizing Your Borrowing Power

When it comes to buying a home, securing the right home loan is essential. But what determines how much you can borrow? Understanding the key factors that influence your borrowing power can help you make informed decisions and potentially increase the amount you can secure. Let’s explore these determinants and some actionable tips to maximize your borrowing power. Key Determinants of Borrowing Power Income and Employment Stability Income Level: Your income is a primary factor that lenders consider when determining your borrowing power. Higher income levels generally mean you can afford to borrow more. Employment History: A stable job history…

13

Jun

By Lori Blank

Selling Your Home

Selling Your Home: What to Expect After Your Offer is Accepted

Congratulations! You’ve received and accepted an offer on your home. This is a major milestone, but it’s not the end of the journey. Several steps and processes follow the acceptance of an offer, and understanding what to expect can help you navigate this phase smoothly. Here’s a detailed look at what comes next: 1. Opening Escrow Once the offer is accepted, escrow is opened. An escrow company acts as a neutral third party to hold funds and documents related to the sale. Both the buyer and seller deposit their respective documents and funds into escrow, which are then managed according…

12

Jun

By Lori Blank

Selling Your Home

Signs That You Should Sell Your Home Soon: How to Know When It’s Time

Deciding when to sell your home can be a daunting task. The housing market is unpredictable, and personal circumstances can add layers of complexity to the decision. If you’re contemplating selling your home but aren't sure if the timing is right, here are some signs to help guide your decision. 1. Market Conditions are Favorable One of the most compelling reasons to sell your home is favorable market conditions. Keep an eye on local real estate trends, such as rising home prices and low inventory. When demand is high and supply is low, sellers often have the upper hand, which…

11

Jun

By Lori Blank

Real Estate

Understanding the Real Estate Terms: Pending vs. Under Contract

Navigating the real estate market can be challenging, especially with all the industry-specific terms that get tossed around. Two phrases you're likely to encounter are "pending" and "under contract." While they might seem similar at first glance, they represent different stages of the home-buying process. Let's break down what each term means and how they impact your home-buying or selling journey. What Does "Under Contract" Mean? When a home is listed as "under contract," it means that the seller has accepted an offer from a buyer. However, the sale is not yet final. There are still several steps that need…