Lori Blank

24

Jul

Mortagage Tips

Small Business Owner? Here’s What You Need To Know About Mortgages

If you are an entrepreneur or a small business owner, you probably know that there are a lot of advantages to this lifestyle – the freedom, the exciting challenges, the opportunities and the ability to make a living doing what you love. However, you also know that being a small business owner can make some things more challenging – such as apply for a mortgage for your home. Many small business owners find it tough to get approved for a mortgage, because their income can be erratic and the banks want to see proof of consistent earnings over a significant…

23

Jul

By Lori Blank

Real Estate

National Association of REALTORS Existing Home Sales Exceed Projections

According to the National Association of REALTORS®, existing home sales surpassed both May sales and expectations for June. Sales of previously owned homes increased by 2.60 percent in June and reached a seasonally adjusted annual level of 5.04 million sales. June's reading was the third consecutive monthly increase in sales of existing homes and was the highest reading for existing home sales in eight months. Existing home sales remain 2.30 percent below the June 2013 reading of 5.16 million sales of existing homes. Analysts projected sales of 5 million existing homes for June against May's initial reading of 4.89 million…

22

Jul

By Lori Blank

Home Mortgage Tips

Understanding the ‘Qualified Mortgage’ or QM and Why It’s Important to New Home Buyers

Are you shopping for a home or a new mortgage? If you are interested in finding the best possible financial product, it is important to consider the benefits of selecting a Qualified Mortgage. With so many different types of loan products to choose from and financial terms to learn, schooling yourself on the mortgage market before you buy your first home or apply for your first refinance mortgage may seem like a daunting task. Luckily, there are resources that are designed to help you learn the basics of products and terms so that all consumers have the power to inform…

21

Jul

By Lori Blank

Market Outlook

What’s Ahead For Mortgage Rates This Week – July 21, 2014

Last week's economic news offered a variety of indications that the economic recovery continues, but some readings missed their expected levels. The Philadelphia and New York branches of the Federal Reserve Bank reported higher than anticipated manufacturing for their respective regions and new jobless claims were lower than expected. Fed Chair's Senate Testimony Hints at Coming Interest Rate Hike Federal Reserve Chair Janet Yellen testified that the Fed might have to raise interest rates sooner than expected if the economy continues to outperform the Fed's projections. Ms. Yellen said that the central bank presently estimates that the first rate increases…

18

Jul

By Lori Blank

Around The Home

A Quick Guide to Assessing Your Home’s Foundation for Cracks – And What to Do if You Find Them

When purchasing a home, there are a number of considerations that need to be taken into account. One of those considerations is the foundation of the home. No matter how perfect or suitable a property looks, taking the time to properly inspect the property for foundation problems can save homeowners thousands of dollars in repairs later on. While foundation cracks are usually present in older homes, that does not mean that newer and even brand new homes aren't prone to them. When choosing a property, the following tips can help homebuyers find signs of foundation problems and take the right…

17

Jul

By Lori Blank

Home Buyer Tips

The ‘Must Have’ List: Why Deciding Your Must-Haves Before Viewing Homes is a Great Idea

Knowing what you want before you start looking is a big help when house-hunting. Giving the list of 'must-have' items to your real estate professional a few days before you begin touring listings is a great idea because they can find homes that meet as many of your criteria as possible. It also helps on a more personal level, since being organized and knowing what you want will help you quickly identify whether or not homes meet those standards. Is it a 'Must-Have' or a 'Nice-to-Have'? The debate between "I need it" and "I want it" is as old as…

16

Jul

By Lori Blank

Real Estate Tips

The 7 Most Unaffordable Cities for Real Estate in the USA (And 3 Affordable Gems!)

As prices continue to rise across the board with everything from food to gas, it's no wonder that real estate prices are high in many cities across the USA. While this is the case for a large number of cities, there are also certain areas in which prices are decidedly low. Here's a small look at the most affordable and unaffordable cities within America. The Seven Most Unaffordable Cities Oakland, CA - Though Los Angeles and San Francisco are 2 California cities that may first come to mind, Oakland is also highly expensive when it comes to real estate, with…

15

Jul

By Lori Blank

Around The Home

Getting Ready to Retire? Six Tips for Downsizing from Huge House to Efficient Condo

If you're getting ready to retire, you may be thinking about downsizing. Having a large house makes sense when you're raising kids, but once you reach your golden years, it usually makes sense to move into a smaller, more efficient condo. While downsizing may seem impossible, these six tips will help you reach your goal. 1. The Six-Month Rule If you're finding it hard to figure out what to keep and what to get rid of, stick to the six-month rule - if you haven't used an item within half of a year, you probably don't need it. Seasonal items…

14

Jul

By Lori Blank

Market Outlook

What’s Ahead For Mortgage Rates This Week – July 14, 2014

Last week brought news from the Fed as two Federal Reserve Bank Presidents made speeches and the Federal Open Market Committee (FOMC) of the Fed released the minutes of its last meeting. The minutes reveal the Fed's intention to wrap up its bond-buying program in October with a final purchase of $15 billion in mortgage-backed securities (MBS) and Treasury bonds. No economic news was issued Monday following of the 4th of July holiday. Further indications of a strengthening labor market were seen. May job openings reached their highest level since June 2007, and quits and layoffs fell from April's reading of…

11

Jul

By Lori Blank

Real Estate Tips

How Much is Your Home Worth in Today’s Market? Three Key Tips for Assessing Value

If you're thinking about putting the house on the market, or are simply curious about its value in the current economic atmosphere, it's essential to get an honest assessment of its value. An overly inflated figure won't hold up and will only turn potential buyers away. It's best to get a fair assessment in order to ask a reasonable price or avoid over-extending oneself when it comes to taking out a home equity loan. Consider these three key tips to get a true assessment of a home's value. Identify Positive Features About The Home And Property When seeking an appraisal…