Lori Blank, Author at Lori Blank & Associates

26

Nov

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Housing Analysis

Get The Low Down On Pending And Existing Home Sales This Month

The National Association of REALTORS reported Monday that pending home sales dropped by -0.60 percent in October after falling at a revised rate of -4.60 percent in September. According to Lawrence Yun, chief economist for NAR, 17 percent of real estate agents reported delays in loan closings due to the government shutdown in early October. Lenders were unable to verify borrower income through the IRS, which was closed during the shutdown. October was the fifth consecutive month with fewer pending home sales reported. Homeowners who owe more on their mortgages than their homes are waiting to sell, and recent spikes…

25

Nov

By Lori Blank

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Mortgage Rates

What’s Ahead For Mortgage Rates This Week – November 25, 2013

Last week's scheduled economic news was varied, but mortgage rates fell and jobless claims were significantly lower than expected. The minutes for last month's FOMC meeting were released, and confirmed the Federal Reserve's intention to leave its quantitative easing program unchanged at least for the near term. The National Association of Homebuilders Wells Fargo Housing Market Index for November indicated that builder confidence, while still positive, dipped by one point to a reading of 54 as compared to an anticipated reading of 55, and October's revised reading of 54. Retail Sales for October Rose By 0.4 Percent NAHB noted that…

22

Nov

By Lori Blank

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Around The Home

Thanksgiving Decorating Ideas For Your Home

Thanksgiving is right around the corner, and if you're opening your home for the family get together, that usually means you'll be decorating. If you've racked your mind for ideas and none sound just right, here are a few decorating ideas that might help you along your way. Fall Leaves Decorations don't have to be expensive, just look outside the door of your home. Brightly colored fall leaves, either randomly placed on the table or bunched in small arrangements, can really brighten up a table. Turkey Napkins Folded turkey napkins is a simple way to spruce up your Thanksgiving table.…

21

Nov

By Lori Blank

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Home Seller Tips

4 Tips On Hosting A Cozy Open House

The weather is starting to become a little too crisp for outdoor barbecues and camping. When Mother Nature goes into hibernation, then it's time to move the party indoors. Whether you're looking to show off your new digs or have just listed your home on the market, winter is the perfect time to host an open house. You want this to be a fun event that is as stress-free as possible. So plan ahead and don't go too crazy. With a little furniture rearranging and a casual menu, you can plan a special evening that everyone will enjoy. Below are…

20

Nov

By Lori Blank

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Home Buyer Tips

3 Common First Time Home Buyer Mistakes That Can Cost Thousands

Buying real estate for the first time is a very exciting step in life. It is likely to be one of the biggest financial commitments that you make, so it's very important to navigate the purchasing process wisely. Many first-time home buyers make rookie mistakes that bring on negative consequences and a lot of frustration. Outlined below are common errors home buyers make, so you can learn from their missteps and avoid them yourself. 1. Buying More Than What You Can Truly Afford Just because the bank says that you qualify a certain amount for a mortgage doesn't mean that…

19

Nov

By Lori Blank

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Housing Analysis

Housing Market Index Shows Builder Confidence Remains Above 50

The National Association of Home Builders released its Housing Market Index for November on Monday. This month's HMI reading was 54 against expectations of a reading of 55. October's reading was also 54 after being downwardly revised. Readings over 50 generally indicate that a majority of builders surveyed are confident in current housing market conditions, but the current pause came after two months of decline in home builder confidence. While the short term index readings are lower than in past months, the HMI is currently 20 percent higher than last year. David Crowe, chief economist for NAHB said that "the…

18

Nov

By Lori Blank

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Mortgage Rates

What’s Ahead For Mortgage Rates This Week – November 18, 2013

The Veterans Day holiday on Monday contributed to a quiet week for economic news. On Wednesday the reading for the federal budget deficit for October fell from September's reading of -$120 billion to -$92 billion. Freddie Mac Released Its Primary Mortgage Market Survey On Thursday The average mortgage rates increased across the board, but remain below historical levels. The rate for a 30-year fixed rate mortgage rose by 9 basis points from 4.16 percent to 4.35 percent with discount points decreasing from 0.80 percent to 0.70 percent. The average 15-year mortgage rate rose from 3.27 percent to 3.35 percent with…

16

Nov

By Lori Blank

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Home Buyer Tips

5 Great Questions To Ask At An Open House

An open house gives you a great opportunity to look more closely at real estate you might be interested in buying. It also affords you the chance to chat with the owner or real estate agent so you can bring up any issues or hesitations you have with the home. Knowing what to ask can be difficult, so below are examples of questions to ask at the next open house you attend. Why Has The Seller Decided To Sell Now? If you ask why the seller is moving, you could learn valuable information to help determine your offer or possibly…

15

Nov

By Lori Blank

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Around The Home

Spice Up Your Home This Holiday Season

Updating home decor used to be more than just a small task and a lot of work. Fear no more if you have a flair for home decoration projects you are in luck. Nowadays there are so many resources and outlets to use. There are no more excuses for not being to afford a home decor project. DIY Is The New Black There a billion home decor and DIY magazines and websites out there but the best way to receive fresh and unique ideas Pinterest has become the new Google in DIY projects. Not only does it provide inspiration and…

14

Nov

By Lori Blank

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Home Building Tips

4 Ways A Real Estate Agent Can Help During The New Construction Process

You've found the perfect new development and think your children would love swimming in the community pool and riding bikes on the wide streets. The new construction's sales agent gave you a price and made a strong pitch urging you to buy immediately. The question is, should you sign on the dotted line or bring in a real estate agent to handle the contract and negotiations? The first thing you need to realize is that the new construction sales agent represents the developer and has their investment in mind. A real estate agent is someone who will be on your…