Lori Blank & Associates

25

Jul

Home Buyer Tips

3 Tips for a Higher Home Appraisal

Selling a home can be a roller coaster of emotions, especially when it comes to the appraisal process. Homebuyers and sellers alike are keenly aware of the importance of a successful appraisal, as it can make or break a deal. To help ensure your home appraises for the highest possible value, here are three tips every homeowner should consider. 1. Information is King Appraisers typically spend only about 30 minutes or less inspecting the interior of a home. This brief visit is all they have to make a first impression, so it's crucial to prepare thoroughly beforehand. One of the…

24

Jul

By Lori Blank

Real Estate

Stainless Steel Kitchens are a Hot Home Trend

In the world of home design, trends come and go, but some elements have a timeless appeal that makes them perennial favorites. One such trend that has been gaining traction in recent years is the use of stainless steel in kitchens. Sleek, modern, and incredibly functional, stainless steel kitchens are becoming a go-to choice for homeowners looking to combine aesthetics with practicality. Why Stainless Steel? 1. Durability and Longevity:Stainless steel is renowned for its durability. Resistant to rust, corrosion, and stains, it can withstand the rigors of daily use while maintaining its pristine appearance. This makes it an ideal choice…

23

Jul

By Lori Blank

Real Estate

Why Acting Now Matters in Today’s Real Estate Market

In recent months, the real estate market has been a whirlwind of activity, with home prices steadily climbing and buyer demand outpacing available inventory. This dynamic landscape presents a crucial question for prospective homebuyers: is waiting to purchase a home a wise decision, or could it cost more in the long run? Rising Home Prices One of the most notable trends in the current market is the consistent rise in home prices. Month over month, year over year, the cost of homes continues to climb. This upward trajectory is fueled by a combination of strong demand and limited supply. The…

22

Jul

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – July 22nd, 2024

The week after the inflation data reports was expected to be relatively quiet, with the most significant event being a meeting with Federal Reserve Chairman Jerome Powell. He remained tight-lipped about when rate cuts would happen, but given his demeanor, he did not deny that rate cuts were on the way — simply that he would not indicate when they would arrive. This has only confirmed to lending partners and the broader market that they were right to feel optimistic that rate cuts are possible before the end of the year. There were a few cyclical reports released, with the…

19

Jul

By Lori Blank

Real Estate

Top Surprises When Becoming a New Homeowner

Talk to any homeowner, and they’ll probably tell you how excited they were when they first bought their home. After living there for a while, they're likely to share some unexpected experiences — both pleasant and challenging. From embracing the freedom of owning their property and building memories to facing unexpected costs and endless maintenance tasks, homeownership is full of surprises. Here are some top surprises to expect: 1. The Amount of Maintenance RequiredThe most common surprise for first-time homeowners is the amount of maintenance required. From keeping the home functional to managing costs, maintenance can feel never-ending. Have a…

18

Jul

By Lori Blank

Real Estate

How Appraisals Impact the Sale Price of Your Property

When you're selling your home, one crucial step in the process is the home appraisal. This evaluation plays a significant role in determining the sale price of your property. Here’s a guide to understanding home appraisals and their impact on your home sale: What is a Home Appraisal? A home appraisal is an unbiased estimate of the fair market value of your property conducted by a certified appraiser. Lenders require appraisals to ensure that the property's value is sufficient to secure the mortgage loan amount. Factors Considered in a Home Appraisal: Property Features: The appraiser evaluates your home's size, condition,…

17

Jul

By Lori Blank

Real Estate

Challenges and Opportunities Millennials Face in the Housing Market

The generation, born between 1981 and 1996, known as Millennials is forced to face a complex landscape influenced by economic shifts, technological advancements, and changing societal norms. Here’s a closer look at the key hurdles and the potential bright spots for millennial homebuyers. Challenges 1. Student Loan Debt Many millennials are burdened with substantial student loan debt, which affects their ability to save for a down payment and qualify for a mortgage. The average millennial carries around $33,000 in student loan debt, making homeownership seem like a distant dream for many. 2. Rising Home Prices The real estate market has…

16

Jul

By Lori Blank

Mortagage Tips

When to Ask for Repairs vs. Taking a Credit

Buying a home is a significant investment, and ensuring the property is in good condition is crucial. There are times when asking the seller for repairs is the best course of action, but in other situations, requesting a credit may be more beneficial. Understanding when to choose each option can help you navigate the buying process more effectively. The Impact of Loan Types on Repairs Certain loan types, such as Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, require the home to meet specific condition standards. If the house doesn’t meet these standards, the loan could be rejected. This…

15

Jul

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – July 15th, 2024

With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re seeing the impact across many markets as…

15

Jul

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – July 15th, 2024

With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re seeing the impact across many markets as…