Blog – Page 493 of 894 – Mike Pfefferman

13

Aug

Real Estate

How Important Is The Land Around A Potential Home?

How Important Is The Land Around A Potential Home When viewing a potential home, how much consideration should you give to the surrounding land?

In many ways, the land should be carefully regarded, since land is the thing that is hardest to alter. You can rip up carpet, paint walls and even knock down walls, but it takes a lot more effort to change land.

Mature Landscaping

Mature landscaping is typically cited as a benefit, but what if you’re the type who enjoys looking out at wide open spaces? It could also be that the mature landscaping – older trees – are situated dangerously near the house.

Weakened trees could lose heavy branches in storms and cause damage your roof. Mature trees also have vast root systems that can damage or destroy septic lines.

Downward Slope

It’s charming to stand at the top of the street and look down upon your future home. In the winter, your kids could have a front yard sledding hill. But if torrential rains come, your valley home will likely be prone to flooding. Even if you’re not in a designated flood zone, you should probably carry flood insurance in a case like this.

Upward Slope

Everyone envies the owner who lives atop the hill. Your home will look impressive to anyone passing by. But bear in mind that the lawn mowing will be especially tricky because you’ll be navigating that steep slant in your landscaping.

Rocky Lawn

If you’re looking forward to starting your own home garden, pay attention to the quality of the soil surrounding your home. If it’s overly rocky, you’ll likely need to have raised beds or potted plants for your garden to thrive. Also, consider if the land around the home is very shady. If it is, you may need to remove some trees in order to capture enough sunlight for your plants.

Poor Quality Lawn

If the lawn isn’t lush green and instead it’s kind of a mottled greenish-brown, just realize that you’ll need to invest time and money to bring it back into good condition. A land treatment company can help you with this, but it will take some time before you see results.

The nature of the land around a potential home is important. But there are always steps you can take to resolve land issues. While it’s important to note the condition of the land, don’t let it stop you from making and offer on a truly awesome new home.

If you are in the market for a new home or interested in refinancing you current property, be sure to contact your trusted home mortgage professional.

12

Aug

By First Rate Financial Group

Financial Reports

What’s Ahead For Mortgage Rates This Week – August 12th, 2019

What’s Ahead For Mortgage Rates This Week – August 12th, 2019 Last week’s economic releases included readings on consumer credit, job openings and weekly reports on mortgage rates and first-time jobless claims.

Consumer Credit Use, Job Openings Slow in June

Consumer credit use slowed in June as credit card use lost ground. Non-revolving credit, which typically includes education and auto loans, grew at its slowest pace in three months. Mortgage loans are not included in the Federal Reserve’s report on consumer credit. Consumer credit use grew by $14.6 billion year-over-year in June as compared to May’s year-over-year reading of $16.0 billion.

Year-over-year credit use fell one percent in June to 4.30 as compared to May’s year-over-year reading of 5.30 percent. Credit card use fell by 0.10 percent in June, which suggested that consumers held off on large purchases. Fed Chair Jerome Powell said ,”households are in pretty good shape overall.” in reference to current economic conditions.

Job openings fell in June, but maintained a 15-month streak of seven million or more job openings. There were 7.35 million jobs open in June as compared to May’s reading of 7.38 million jobs open. Job openings rose in retail and real estate, but were lower in construction, leisure and hospitality categories.

Analysts said that shortages of skilled labor and fears over the effects of trade wars caused fewer hires. The trade war with China has not broken the longest period of economic growth in U.S. history, but escalation of trade disputes could further slow economic growth if trade wars aren’t resolved.

Mortgage Rates, Weekly Jobless Claims Fall

Mortgage rates dropped last week according to Freddie Mac. Rates for 30-year fixed rate mortgages averaged 3.60 percent and were 15 basis points lower. Rates for 15-year fixed rate mortgages averaged 3.05 percent and were 15 basis points lower.

The average rate for 5/1 adjustable rate mortgages dropped ten basis points to 3.36 percent. Discount points averaged 0.60 percent, 0.50 percent and 0.30 percent respectively.

Initial jobless claims fell last week to 209,000 new claims filed as compared to the prior week’s reading of 217,000 first-time claims filed. Analysts expected a reading of 215,000 new jobless claims filed for last week.

What‘s Ahead

This week’s scheduled economic news includes readings on housing market conditions, housing starts and building permits issued. Weekly readings on mortgage rates and initial jobless claims will also be released.

09

Aug

By First Rate Financial Group

Real Estate

4 Simple Tips To Make Sure Your Home Smells Inviting

4 Simple Tips To Make Sure Your Home Smells Inviting As a diligent home seller, you’ve taken all your real estate agent’s advice about preparing your home for showings. You’ve de-cluttered, enhanced curb appeal and developed efficient strategies for leaving your home while viewings are taking place.

But have you given any thought to how your home smells to strangers?

Newcomers to your home will naturally be more sensitive to the smells of your house. Your nose is likely desensitized to your common household odors, but a prospective buyer may be put off by how it smells. Here are some ways to make sure your home smells inviting.

Don’t Burn Incense

If you enjoy burning incense, you might think this is a nice way to impart a lovely scent in your home. But don’t burn incense before showings. The visitors may be unfamiliar with common incense smells like patchouli, myrrh, jasmine and others. And if they can’t identify it, even a pleasant scent can be off putting. The best thing is to save your incense for when you’ve moved into your new home.

Move The Litter Box

If your cat uses a litter box, be sure to change or refresh it daily. This will help keep the scent from spreading throughout the home. Also, move the litter box to a less noticeable part of the home, such as the mudroom, garage or basement.

An odorous kitty litter box is more forgivable if it’s in an out of the way spot. And, as long as you let your cat know where it is, it will likely have no trouble adjusting.

Have Your Pets Professionally Groomed

Invest in professional pet grooming services to reduce the smell of dogs and/or cats in the home. Pet dander is not only an allergen; it imparts a musky scent that some homebuyers may not enjoy. A once a month grooming should be sufficient unless your pet is exposed to heavy rains or muddy conditions; in which case an extra grooming session is recommended.

Avoid Cooking Prior To Showings

Just like incense, if a homebuyer can’t recognize a scent, it can be off putting. Avoid cooking just before showings, if possible. Things like onions and garlic smell wonderful if you’re hungry, but not necessarily to a homebuyer. Of course, the scent of a fresh batch of chocolate chip cookies is always appreciated – let’s be honest!

Don’t forget to take your home’s smell into consideration when preparing it for showings. These tips will help ensure your home smells its very best.

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional.