Lori Blank & Associates

24

Mar

Real Estate

Advice For Purchasing A House On A Single Income

Even though a lot of people have two incomes they can use to purchase a house (theirs and their partner’s), this is not necessarily required. There are lots of people who want to take advantage of current interest rates to purchase a house, and some people are trying to do it on their own. Even though it can be a challenge to buy a house with only one income, it is certainly not impossible. There are several tips that can make it easier for everyone to afford a house with just a single income. Always Check Your Credit Score If…

23

Mar

By Lori Blank

Real Estate

Rent Is Going Up Across The Country: What People Can Do

Many people who rent sign a 12-month lease. With many people’s contracts up for renewal during the next few months, people may be surprised to see just how much their rent might be going up in the next year. Just as gas prices, car prices, and prices at the grocery store continue to increase, rent is going up as well. It is important to take a closer look at the reasons why, and what people can do to make their housing costs more affordable. Inflation Is Partly To Blame One of the reasons why rent is getting more expensive is…

22

Mar

By Lori Blank

Taxes

Tax Deductions Homeowners Can Claim During Tax Season

Even though owning a home comes with some significant expenses, some of them are tax-deductible. With many people looking for ways to lower their income tax, there are a few expenses tied to the house that every homeowner should consider. This could make a significant difference in their final tax bills, and it could lead to a large tax refund. Home Repair Costs There are a lot of people who need to make repairs to their houses during the course of the year. In particular, if you have recently purchased a house, you may need to do a bunch of…

21

Mar

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – March 21, 2022

Last week’s economic reporting included readings on housing markets from the National Association of Home Builders, sales of previously-owned homes, and government reports on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Slips Two Points in March The National Association of Home Builders reported that home builder confidence in housing market conditions slipped two points to an index reading of 79. Analysts expected a reading of 80 based on February’s reading of 81. Robert Dietz, the NAHB’s chief economist, said: “While low existing inventory and favorable demographics are…

18

Mar

By Lori Blank

Mortgage

Make One Extra Mortgage Payment Every Year To Save Big

When you buy a home, you probably have a budget you will try to stick to. Many people choose a 30-year fixed mortgage, and by the time you pay off the home loan, you should own your home outright. At the same time, you might be thinking about paying off your mortgage more quickly to save money on interest. Even making one extra mortgage payment per year can provide a number of significant benefits. You Can Build Up Equity Faster One of the first benefits of making an extra mortgage payment every year is that you can build up equity…

16

Mar

By Lori Blank

Real Estate

Exploring Multigenerational Homes: They Are Becoming More Common

Purchasing a house is expensive. Not everyone has the money to put down 20 percent. One of the ways to make it easier to afford a house is to live in a home with multiple generations. Some people decide to move back in with their parents because they might have a difficult time affording a mortgage and student loans. Some parents move in with their children because they have health-related issues that need to be addressed. Now, multi-generational homes are becoming more common. An Overview Of Multigenerational Homes First, it is important to define a multigenerational home. This is a…

15

Mar

By Lori Blank

Mortgage

Do You Want To Own A Second Home?

Build Wealth More Quickly One of the first benefits of owning a second home is that you can build wealth more quickly. One of the major benefits of investing in real estate is that you can leverage the bank's money to help you build wealth. Even though you may have only put down 20 percent, 100 percent of the property’s appreciation benefits you, as you own the home. If you own a second home, you can build wealth more quickly because you are doing this with two separate properties. Enjoy Switching Up The Scenery Many people like to own a…

14

Mar

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – March 14, 2022

Last week’s economic reporting included month-to-month and year-over-year readings on inflation. The University of Michigan released its monthly consumer sentiment index; weekly readings on mortgage rates and jobless claims were also published. Inflation Reports: No Good News for Consumers The war in Ukraine increased inflation rates in the U.S in February as costs for fuel, food and housing continued to rise. The federal government reported that month-to-month inflation rose by 0.80 percent in February; analysts expected a month-to-month increase of 0.70 percent as compared to January’s reading of 0.60 percent. Core inflation, which excludes volatile food and energy sectors, rose…

11

Mar

By Lori Blank

Mortgage

Can I Pay My Home Loan Off Early If I Refinance?

Many people are looking for opportunities to save money on the cost of a mortgage. If you want to save money on your home loan, you might be thinking about refinancing. During the refinance process, you will replace your current home loan with a new mortgage. Some people want to refinance their homes to free up cash for a renovation project, while other people want to pay off their homes sooner. How can you pay off your home loan early through a refinance? Reduce Your Interest Rate During the refinance process, you might qualify for a lower interest rate. There…

10

Mar

By Lori Blank

Home Seller Tips

Did You Know? The Location of Your Home Plays a Role in Your Selling Price – Here’s Why

One of the most common questions homeowners have before listing their home for sale relates to the selling price. Understanding the value of the home is about far more than just comparing the square footage of the space with other homes that have recently sold in the area. While there are many factors that will play a part in a selling price, location is an important factor for several different reasons. Neighboring Properties The properties that are located next to the home for sale are critical to the property value. For example, a home that is located next to a…