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Home Improvements That May Improve Resale Value

Real Estate , ,
Did you know that some home improvements lower the resale value of a home and decrease the number of potential buyers? If you are going to repaint the exterior of your home bright, traffic-cone orange and try to sell it for a high price, think again! Maybe, if the artist Pablo Picasso once lived there that might work, but probably not under any other circumstances. Some things are counter-intuitive. A swimming pool is an example. Swimming pools are great and highly desirable for many people. However, others do not necessarily think so and only see them as adding unnecessary expenses…
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Common Problems Faced By New Homeowners

Real Estate , ,
Buying a new home is a big step for individuals and families. This is a time for celebration as the new furniture gets moved in, everyone gets adjusted, and the honeymoon phase starts with the new home. On the other hand, buying a home also means that all of the responsibilities rest with the owners. Here are a few common problems that new homeowners face. Taking Care Of The Outside Many homeowners are quick to realize that there is a tremendous amount of maintenance on the outside of the home. Now, the exterior is their responsibility and doesn't fall on a…
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The Impact Of The New Housing Construction Boom

Real Estate , ,
New housing construction starts reached a record high in December 2019 going up 16.9%. This represents a seasonally-adjusted annual rate of 1.608 million homes last December, which beat the record set in December 2006, 13 years ago, according to CNBC. This was surprising news, as predictions made before the end of the year were that housing starts in December would reach only 1.375 million homes. Experts say the current housing construction boom in the United States gets its support from the easy mortgage financing available and positive consumer expectations about the economy. What Does The New Housing Boom Mean To…
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Considering A Reverse Mortgage? Understand These Important Points First

Mortgage , ,
There are many individuals who end up on a fixed income once they reach a certain age; however, their expenses aren’t always fixed. Sometimes, there is a large medical expense. In other cases, someone might need money for a new car or a home repair. In the event that someone needs cash quickly, one option is called a reverse mortgage. Those who have equity built up in their home can draw upon this to help with unexpected expenses. This is a quick source of cash that many people overlook. At the same time, it is important to think about the…
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What’s Ahead For Mortgage Rates This Week -February 10th, 2020

Financial Reports , ,
Last week’s economic news included readings on construction spending and public and private-sector job growth. Weekly readings on mortgage rates and first-time jobless claims were also released. Construction Spending Dips in December Overall spending on public and private-sector construction spending dropped by  -0.20 percent in December to an annual rate of $1.33 trillion. Analysts expected spending to increase by 0.10 percent based on November’s revised reading of 0.70 percent growth in construction spending. Spending on residential construction rose 1.04 percent in December, which is good news for housing shortages in many areas of the U.S. Lower mortgage and interest rates…
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How To Find Places To Buy Rental Investment Properties

Real Estate , ,
Real estate, which is a rental property, has the unique characteristic under the tax code of being able to depreciate it and pretend the asset is going down in value, while, if you are a clever investor, you will acquire property that actually increases in value. Additionally, there are other tax advantages for owning a rental property that can help shelter income. Positive Cash Flow The key to success with a real estate investment portfolio of rental properties is to build value while it is self-sustainable. Have the goal of creating positive cash flow from every owned property. Making $100…
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Investment Property Down Payments: How Much Will You Need?

Mortgage , ,
Investing in real estate is a great way for someone to diversify his or her assets; however, there is a common hurdle that almost all real estate investors face. This comes in the form of a down payment.  It can be a challenge for someone to come up with enough cash to fund the down payment on a home or piece of land, let alone multiple properties. At the same time, how big of a down payment does someone really need? There are a few factors that someone is going to need to consider. The Conventional Mortgage There are plenty…
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Green Energy Tax Credits For Home Improvement & Energy Efficiency

Mortgage , ,
Many individuals and families are looking for ways to reduce their energy consumption. Running the heater during the winter and the air conditioner during the summer can have significant impacts on someone's energy consumption and costs. It should come as no surprise that many people are trying to reduce their HVAC usage to save money; however, there is a better way. Individuals and families can permanently reduce their fossil fuel usage and carbon footprint by investing in home improvements. Better yet, local, state, and even the federal government wants everyone's home to be more environmentally conscious, or "green." Many utility companies…
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4 Things To Do Before Co-Signing A Mortgage For Your Child

Mortgage , ,
It can be hard to convince a lender that a young person is ready to buy a house. There may not be a long credit history, a lack of assets might make it hard to fund a down payment, and the buyer's age can cause banks to hesitate. One of the ways for parents to help with this process is to co-sign on the mortgage. Before doing this, there are a few important steps to keep in mind. Look At Your Own Qualifications Remember that co-signers are going to go through the same vetting process as the primary borrower. This…
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What’s Ahead For Mortgage Rates This Week -February 3rd, 2020

Financial Reports , ,
Last week’s economic reports included readings on home prices, new and pending home sales and a statement from the Federal Reserve’s Federal Open Market Committee. The University of Michigan issued its monthly statement on consumer sentiment and weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller: Home Price Growth Picks Up in November According to Case-Shiller’s National Home Price Index for November, home prices rose by 3.50 percent on a seasonally-adjusted annual basis as compared to October’s reading of 3.20 percent. Case-Shiller’s 20-City Home Price Index showed that home prices for cities included in the Index…
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