Lori Blank & Associates

06

May

Real Estate

A Guide To Investing In Real Estate Rentals

If you are thinking about purchasing an investment property, you probably understand this is a great way to diversify your investments. On the other hand, you also need to understand how to evaluate potential rental properties and how to make sure you can generate enough income to cover the overhead expenses related to the property. What do you need to know? Pay Down Personal Debt First Before you decide to take on a second mortgage, you need to pay down as much of your existing debt as possible. If you have unpaid medical bills, student loans, and car loans, you…

05

May

By Lori Blank

Real Estate

Understanding Your Debt To Income Ratio: What It Means

If you are looking for a home, you might need to finance it using a lender, such as a bank or a credit union. There are a number of factors that will influence whether your mortgage application is approved. Then, these same factors will play a role in the terms the lender might offer you. One of the most important factors is called the debt to income ratio, or DTI. It is important to understand how this will impact your mortgage application. What Is A Debt To Income Ratio? Your DTI is important to the lender because this allows the…

04

May

By Lori Blank

Home Buyer Tips

6 Tips That Will Help You Get the Most Out of Your Home Inspection

A home inspection may be one of the last things that needs to be done before the deal is sealed. However, it's very important to have a proper inspection done so that you can ensure you're offering price is appropriate for the home you're getting. If you're prepping for an inspection soon, here are some things you'll want to consider beforehand. Choose A Good Inspector Like a good agent, the right inspector is going to have expertise in what they do and know what to look for. They will not only find the small fix-ups, they'll be able to highlight…

03

May

By Lori Blank

Real Estate

Common Fees During Refinancing

As interest rates fluctuate, you might think about refinancing your mortgage. This is the cost of taking out a new home loan to replace the one you currently have. If you get a significantly lower interest rate, you could save tens of thousands of dollars over the life of the mortgage. On the other hand, you need to think about potential expenses you might incur during the refinancing process. Because you are taking out another home loan, you may need to pay closing costs a second time. What are some of the most common expenses you might have to pay?…

02

May

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 2, 2022

Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices, the Federal Housing Finance Agency House Price Index, and the Commerce Department on sales of new homes. Weekly readings on mortgage rates and jobless claims were also reported. S&P Case-Shiller, FHFA Report Near-Record Home Price Growth February home prices continued their rapid growth, but analysts hinted at a coming slowdown in-home price growth as would-be buyers were faced with rising mortgage rates and affordability concerns. S&P Case-Shiller’s National Home Price Index reported year-over-year home price growth of 19.80 percent as compared to January’s national home price growth rate of…

29

Apr

By Lori Blank

Real Estate

Sale Pending: What Does This Mean?

The search for a house can be stressful and filled with lots of jargon that can make it difficult for someone new to the real estate world to figure out what is going on. One of the most common terms that people might see on the MLS is "sale pending." What does this mean, and how should people interpret this? An Overview Of Sale Pending If a listing says that it is "sale pending," it means that the buyer and the seller are under contract. While the deal is not yet set in stone, it means that the seller has…

28

Apr

By Lori Blank

Home Seller Tips

What Home Improvements Sellers Should Make In 2022

Owning a home is an investment, and it is important for people to treat it as such. Some homeowners are looking for improvements they can make to their house that might improve its resale value. There are a number of home improvements that seller should consider making in 2022 if they want to maintain or increase the value of their home. Add A Stone Veneer One of the top home improvements homeowners might want to make is to add a stone veneer. It can be expensive to replace the siding of a house with a stone veneer, but this is an…

27

Apr

By Lori Blank

Financial Reports

Case-Shiller, FHFA Post New Records for Home Price Growth

S&P Case-Shiller’s National Home Price Index rose by 19.80 percent year-over-year in February and was the third-largest pace of home price growth since the National Home Price Index’s inception. The 20-City Home Price Index reported that Phoenix, Arizona held its first-place ranking with year-over-year home price growth of 32.90 percent. Tampa, Florida maintained its second-place standing with year-over-year home price growth of 32.60 percent. Miami, Florida reported year-over-year home price growth of 29.70 percent year-over-year. Home prices rose faster for all 20 cities in February than in January. Rapid Home Price Growth Expected to Slow as Rising Mortgage Rates Take…

26

Apr

By Lori Blank

Around The Home

Green-ify Your Home with These 3 Easy Home Renovations

The concept of going green is often seen as an expensive process, and this can stop many people from taking the small steps needed to make their home more environmentally friendly. If you want to green-ify without any of the high costs, here are some simple things you can do that will easily improve the energy efficiency of your home. Complete An Energy Audit It can cost in the upwards of $400 to get a certified evaluator to take a look at your property and determine how energy is being wasted, but you can complete this type of evaluation on…

25

Apr

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – April 25, 2022

Last week’s economic reporting included the National Association of Home Builders Housing Market Index, government readings on housing starts and building permits, and data on sales of previously-owned homes. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence in Housing Market Conditions Slips by Two Points Homebuilder confidence fell by two points to an index reading of 77 in April and was the lowest reading since September. Analysts expected this dip as mortgage rates and building materials costs continued to rise. Index readings over 50 indicate that most builders have positive views of housing market…