Blog – Page 4 – Lori Blank & Associates

28

Feb

Construction Loan

Buy or Build? Which is Right for You?

Deciding between buying and building a home is a major financial and lifestyle choice. Each option has its benefits and challenges, and understanding them can help you make the best decision for your needs. Pros of Buying a House One of the biggest advantages of buying a house is convenience. Once you close the deal, you can move in immediately—no waiting for construction to finish. Established neighborhoods also offer access to schools, parks, shopping centers, and essential services, making location selection easier. Financially, buying a home can often be more affordable than building, especially in a buyer’s market where deals…

27

Feb

By Lori Blank

Homeowner Tips

What You May Not Know About Owner Financing When Buying a Home

Owner financing is an alternative home-buying method that many buyers and sellers overlook. Instead of securing a mortgage through a traditional lender, the buyer makes payments directly to the seller under agreed-upon terms. While this arrangement can be beneficial, there are key details to consider before choosing owner financing. 1. No Traditional Lender Involvement One of the biggest advantages of owner financing is that it bypasses banks and mortgage lenders. This can be helpful for buyers who may not qualify for a traditional loan due to credit history, self-employment income, or other financial factors. Instead, the buyer and seller agree…

26

Feb

By Lori Blank

Home Buyer Tips

Understanding the Risks of Buying a Home With a History of Termite Infestation

Buying a home is one of the biggest investments you’ll ever make, and discovering that a property has a history of termite infestation can be a major red flag. However, this doesn’t always mean you should walk away. Understanding the risks, potential costs, and ways to protect yourself can help you make an informed decision. What Are the Risks? Structural Damage: Termites feed on wood, and if an infestation went undetected for a long time, it could lead to significant structural issues. Damage to load-bearing beams, flooring, and walls can compromise the integrity of the home. Recurring Infestations: Even if…

25

Feb

By Lori Blank

Home Buyer Tips

Understanding the Process of Selling a Home Through a Lease-Purchase Agreement

Selling a home through a lease-purchase agreement can be a great option for both buyers and sellers, offering flexibility and potential financial benefits. Whether you’re a homeowner looking for alternative selling strategies or a buyer who needs time to secure financing, understanding how this process works is key. What Is a Lease-Purchase Agreement? A lease-purchase agreement, also known as a rent-to-own contract, allows a tenant to lease a home with the option to purchase it at a later date. Unlike a standard rental agreement, a portion of the tenant’s monthly rent may go toward the future purchase of the home,…

24

Feb

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – February 24th, 2025

The most impactful report released last week was the regular Consumer Sentiment reports, which have indicated the more recent concerns rising food costs have soured the view on the current state of the economy for the U.S. The talks between the Federal Reserve members have also slanted in a negative direction as they feel they still do not have a strong grip on inflation. With the Trump administration also shaking things up in the office with their views on Tariffs, the land lending and broader markets have seen a lot of turmoil and uncertainty about the future. There should be…

21

Feb

By Lori Blank

Homeowner Tips

Do I Need Flood Insurance Coverage For My Home?

One of the most important overlooked form of insurance for homeowners is Flood Insurance. Flood damage is not covered on a typical homeowners insurance policy. Although sometimes FEMA (the Federal Emergency Management Agency) provides help for victims of flood damage, it does not provide coverage for personal property, and is often defined as a loan and must be repaid. Flood Insurance for Homeowners: What Does it Cover? Depending on the type of flood insurance you carry, it covers various things. The basic coverage on a flood insurance policy covers the structure of the home, which would also include permanently installed…

20

Feb

By Lori Blank

Home Buyer Tips

How to Make a Winning Counter-offer Without Losing the Buyer

Crafting a counter-offer that doesn't scare away a potential home buyer can be tricky. You want to maximize your sale price while still keeping the deal attractive enough for the buyer to stay engaged. A well-crafted counter-offer strikes a balance between protecting your interests and meeting the buyer's needs. The key is to approach negotiations strategically, ensuring that your counter doesn't feel like a rejection but rather a step toward a mutually beneficial agreement. Here are five tips to help you through the process while keeping the buyer interested: 1. Keep Emotions in Check Avoid letting your emotions drive the…

19

Feb

By Lori Blank

Homeowner Tips

Ways to Lower Your Homeowners Insurance Costs

With the cost of everything rising, homeowners are looking for ways to save wherever they can. One expense that often gets overlooked is homeowners insurance. While it is essential to protect your investment, there are ways to lower your premiums without sacrificing coverage. Here are some strategies to help you secure quality insurance at a fair price. Shop Around for the Best RatesInsurance rates can vary significantly between providers, so it pays to shop around. Compare quotes from multiple companies and check with your state’s insurance department for additional resources. When comparing policies, don’t just look at price—make sure the…

18

Feb

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – February 18th, 2025

The major inflation data reports have been released, and the initial readings indicate that inflation has exceeded expectations. While the data suggests that the Federal Reserve is unlikely to allow any further rate cuts beyond those already implemented, optimism remains in the broader lending markets. This optimism is driven by expectations that the new administration may introduce changes to monetary policy in the longer term. Although inflation has come in higher than expected, it remains to be seen what next week's PCE Index—the Federal Reserve’s preferred inflation indicator—will reveal. Consumer Price Index (CPI) Consumer price data for goods and services…

17

Feb

By Lori Blank

Holidays

Presidents’ Day and the American Dream of Homeownership

Presidents’ Day is a time to reflect on leadership, vision, and the pursuit of big goals. Throughout history, homeownership has been a key part of the American Dream, a foundation for stability, growth, and opportunity.If owning a home is one of your goals this year, now is a great time to start planning. Market conditions, loan options, and expert guidance can all help make your journey easier. Whether you’re buying your first home, upgrading to a new space, or refinancing for better terms, having a clear strategy can make all the difference. Homeownership is a big step, but with the…