Lori Blank & Associates

06

Feb

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Home Selling Tips

What Is DOM And How It Affects Your Home For Sale

Oh, the dreaded/happy DOM question: "How long has this house been up for sale?" If it's your home for sale we're talking about, you're probably wondering about the split "dreaded/happy" bit. For that matter, whether you're a buyer or a seller, you're probably asking, "what the heck is 'DOM'?" Days On Market "DOM" is the shortened industry term for Days On Market, used by the multiple listing services. It's exactly what it sounds like: the number of days your home for sale has been on the market. This metric covers the time it actually goes on sale to the time…

05

Feb

By Lori Blank

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Homebuyer Tips

Buying A Home That’s Not For Sale

You’re ready to purchase a home, but you’ve looked at everything on the market and can’t find the perfect place. You’ve researched the school districts, neighborhoods and nearby amenities, and you know exactly in which area you want to live. However, anything that comes on the market in that part of town gets snapped up immediately. It’s time to get creative when it comes to buying a home. Start looking at places that are not currently for sale. You might have driven past your dream home, but you never thought of going the unconventional buying route. Well, take a look…

04

Feb

By Lori Blank

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Federal Reserve

FOMC Statement Shows Tapering Of Quantitative Easing Purchases

According to a statement provided by the Federal Open Market Committee of the Federal Reserve, the committee has approved another reduction of the Fed's monthly asset purchases. The adjustment will be made in February and cuts monthly purchases of mortgage backed securities from $35 billion to $30 billion and monthly purchases of Treasury securities from $40 billion to $35 billion. FOMC began reducing its asset purchase under its quantitative easing program in January, when the monthly purchases of mortgage-backed securities and Treasury securities was reduced from $85 billion per month to $75 billion. Citing its goals of maximum employment and…

03

Feb

By Lori Blank

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Mortgage Rates

What’s Ahead For Mortgage Rates This Week – February 03, 2014

Last week brought mixed news; while the Department of Commerce reported a dip in new home sales, mortgage rates also fell. The Federal Reserve's FOMC statement revealed that quantitative easing would be further reduced by an additional $10 billion monthly. New Home Sales: Y-O-Y Reading Best Since 2008 December's reading of 414,000 for new home sales fell short of November's revised reading of 445,000 new homes sold as well as expected sales of $455,000. The consensus figure was based on November's original sales reading of 464,000 new homes sold. The inventory of new homes available rose from last month's level…

31

Jan

By Lori Blank

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Around The Home

3 Tips To Get The Most Out Of Your Plumbing

Everyone wants their pipes to last as long as possible, but there are a couple of simple problems that might be sucking the life out of your plumbing. Long-term stress is the enemy when it comes to your water system. The three most common enemies are high water pressure, mineral-laden hard water, and grease. Avoid these three mistakes, and your water system will last years longer. Take The Pressure Off Your Pipes You might enjoy high water pressure when you're taking a shower, but your pipes aren't enjoying it at all. Over time, this high pressure stresses your plumbing system…

30

Jan

By Lori Blank

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Housing Analysis

Case Shiller Price Index Shows Homeowners A Rise In Home Equity

According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed. The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively. Highlights Include: Dallas, Texas posted its highest rate of annual growth since 2000. Chicago's average home price rose by 11.00 percent, its highest annual gain since December 1988. The 10 and 20-City Indices posted their best November home prices since 2005. Top year-over-year gains in home prices included Las Vegas, Nevada…

29

Jan

By Lori Blank

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Home Seller Tips

What’s Your Home’s Real Value?

As a society, it seems like we've gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value. An Appraiser Can Estimate A Home's Monetary Value, But To Gain A True Concept Of Your Home's Worth, You Must Also Take Into Consideration: Pride Of Ownership. You don't buy a pair of Prada shoes because you're going to be able to resell them and make a profit. You buy them because they make you look good and feel good. Security And Stability.Your home provides a roof over your head that's in your…

28

Jan

By Lori Blank

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Housing Analysis

Existing Home Sales Reach Highest Level In 7 Years

The NAR provided great year-end news as existing home sales in December pushed 2013 sales of existing homes to a 7 year high. December's reading of 4.86 sales of pre-owned homes came in at 4.87 million on a seasonally adjusted annual basis. Although projections had been for 4.89 million sales, the December reading topped November's revised sales of 4.82 million pre-owned homes. December's reading showed the first gain in existing home sales in three months. NAR reported that existing home sales for 2013 reached 5.09 million, which represented a 9.10 percent increase over 2012. More Good News: Median Price Of…

27

Jan

By Lori Blank

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Mortgage Rates

What’s Ahead For Mortgage Rates This Week – January 27, 2014

Last week was an action-packed week for economic news, and all of it was packed into Thursday: Weekly Jobless claims came in at 326,000 which was lower than the expected 330,000 new claims. This week's claims were higher than the prior week's 325,000 new jobless claims filed. The NAR released its Existing Home Sales Report for December; sales of existing homes sold at a seasonally adjusted annual rate of 4.86 million. December's reading fell shy of estimates of 490 million existing home sales, but the estimate was based on November sales that were later adjusted downward to 4.82 million sales…

24

Jan

By Lori Blank

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Around The Home

Inspect And Maintain Your Garage

In most parts of the country, garages are especially appreciated at this time of year. Even if you don't live in a colder climate, it's important to do an annual inspection and routine maintenance to keep everything in working order. Make sure yours is doing its job well by following the care tips below. Check The Tracks You'll want to make sure the garage door can go up and down smoothly. Get your leaf blower and blow any cobwebs, bugs or leaves from the track. With older doors, you'll also need to oil the metal rollers, hinges and tracks in…