Blog - Page 51 of 122 - Lori Blank & Associates

02

Oct

Financial Reports

What’s Ahead For Mortgage Rates This Week – October 2, 2023

Last week, consumers were treated to several indicators on inflation that not only paint a picture of the economy’s health but also give the Fed more information to work with as it continues to aim for a soft landing. August Sees a Slight Upward Trend in Inflation This week, the personal consumption expenditures price index, which excludes more volatile commodities like food and energy, increased 0.1 percent for the month. This is lower than the expected value of 0.2 percent, which indicates that the rising interest rates are starting to have an impact on the economy as the Fed continues…

28

Sep

By Lori Blank

Around The Home

Kids Moving Out of the House? Here Are 3 Tips for Creating a Warm, Welcoming Guest Bedroom

If you're a homeowner with children, at some point, you'll be saying goodbye. They'll move off to college or to start their career and adult life. As children move out, you'll discover that you have extra bedrooms and other living spaces that will need a new purpose. Let's take a look at three ways that you can transform an unused bedroom into a welcoming place for guests to stay. Get Started With A Deep Clean The first thing you'll want to do is engage in a top-to-bottom deep clean of the room. Get everything out of the room so that…

27

Sep

By Lori Blank

Home Buyer Tips

Four Mistakes to Avoid When Making an Offer for Your Dream Home

You've scoured the new home listings, been to all the open houses and have finally found the home of your dreams. It is now time to draft an offer and begin the negotiation process. Below we'll share four mistakes that you will want to avoid when making an offer on your dream home. Mistake #1 – Not Working With A Professional The first mistake that home buyers make is trying to buy a home without using the services of a real estate professional. Buying a home is a significant financial transaction and one where the seller and their agent are…

26

Sep

By Lori Blank

Real Estate

Should I Consolidate My Debts with a Mortgage Refinance Loan?

Managing multiple debts can become overwhelming and burdensome. Juggling various loan payments with varying interest rates and repayment terms can lead to financial stress and missed opportunities. One solution that borrowers often consider is consolidating their debts through a mortgage refinance loan. While this approach can be beneficial for some, it's crucial to carefully evaluate its pros and cons before deciding. Understanding Debt Consolidation Debt consolidation is the process of combining multiple debts, such as credit card balances, personal loans, and other unsecured debts, into a single loan. The goal is to simplify repayment by having one manageable monthly payment…

25

Sep

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – September 25, 2023

Last week’s economic reports included readings on U.S. housing markets, housing starts and building permits, and the scheduled post-meeting statement from the Federal Open Market Committee of the Federal Reserve. Data on sales of previously owned homes were released along with weekly reports on mortgage rates and jobless claims. National Association of Home Builders: Rising Mortgage Rates Shake Builder Confidence Homebuilders lost confidence in U.S. housing market conditions in September. September’s index reading was 45 as compared to the expected reading of 49.5 and August’s reading of 50. The combination of rising mortgage rates and high home prices presented obstacles…

22

Sep

By Lori Blank

Home Buyer Tips

House Hunting: Watch for These Five Small Signs That Can Indicate Much Bigger Problems with a Home

It’s not uncommon for homebuyers to recount horror stories about properties that appeared to be fine at first glance, but were actually hiding very expensive problems. If you fail to do your due diligence, you might find your dream house turning into a nightmare. The next time you walk through a house, pay attention for these five signs that the property might be hiding a unfortounate secret or two. Mold, Water Spots and Water Damage Older and newer homes alike may develop a leaky pipe or another similar plumbing issue from time to time, but any type of water issue…

21

Sep

By Lori Blank

Home Selling Tips

Autumn Home Staging: How to Set Your Home Up to Match the Warm, Rich Colors of Autumn

Can you believe that autumn is already here? Autumn is not only a great time to enjoy some cooler weather, but it is also a perfect time to sell a home. If you want to sell your house this autumn, these home staging tips will have buyers pounding down your door. Improve Your Curb Appeal Curb appeal is easily the most important factor when it comes to selling a home, and it is even more important in the autumn. Maintaining great curb appeal can be difficult in autumn because of all the falling leaves. Raking the leaves and planting some…

20

Sep

By lizlaurenb

Around The Home

Thinking About a New Floor? Five Excellent Reasons to Choose Hardwood Flooring when Remodeling

If you're remodeling, you should seriously consider updating your flooring. A new hardwood floor will give your home an impressive look and prevent scratches and stains. Here are five very good reasons why you should consider a hardwood floor for your next remodeling project. Hardwood Is More Durable Than Other Materials Hardwood is much more durable and longer lasting than many other flooring materials. If there's a lot of traffic in your home, hardwood floors are less likely to get scratches and dents than vinyl tiles or laminated floors. On weaker floors, damage is often permanent - but with hardwood…

15

Sep

By lizlaurenb

Real Estate

Does My Current Debt Affect Getting A New Mortgage?

When you apply for a new mortgage, the lender will evaluate your creditworthiness to determine whether to approve your application and what terms and interest rate to offer you. Your existing debt can affect your creditworthiness in several ways: Debt-to-income ratio (DTI): Your DTI ratio is the percentage of your monthly income that goes towards paying off debt. Lenders typically want to see a DTI ratio of 43% or less, meaning your debt payments don't exceed 43% of your gross monthly income. If your existing debt is high, your DTI ratio will be high, and lenders may view you as…

13

Sep

By lizlaurenb

Real Estate

What Does Contingent Mean on a House Sale

In the context of a house sale, "contingent" typically means that the sale of the house is dependent on certain conditions being met. These conditions could include things like the buyer securing financing, the completion of a home inspection, or the sale of the buyer's current home. For example, if a buyer makes an offer on a house and the offer is accepted by the seller, the sale may be contingent on the buyer obtaining financing within a specified period of time. If the buyer is unable to obtain financing, the sale may fall through. Another common contingency is a…