Pros And Cons: Older Homes Versus New Construction

Opinions differ about whether home buyers are best served by purchasing an older home or new construction. New homes enjoy that “new home” smell and the idea that you are the very first occupant can be very appealing. On the other hand, older homes resonate with nostalgia and many architectural design elements are no longer commonly used. While some people feel strongly one way or the other, it’s a lot like comparing apples and oranges. The right home for any home buyer is the one that fits your lifestyle. Consider these pros and cons of new and older homes when making your decision. Construction Differences Home builders often tout the state-of-the-art aspects of new construction. Perhaps the biggest pro to new construction is the integration of...

Read More

NAHB Housing Market Index Unchanged in September

Home builder confidence in housing market conditions stayed flat in September. The National Association of Home Builders Housing Market Index reported an index reading of 67, which matched expectations and NAHB’s housing market reading for August. Analysts cited recent tariffs on building materials as a significant cause of easing builder confidence. While NAHB called September’s reading “solid” at 67, the reading was one full point lower than the average reading for 2017 and equaled the lowest builder confidence reading in 2018 to date. Readings over 50 in the Housing Market Index indicate that more builders than fewer are confident in housing market conditions.   Components of the Housing Market Index were mixed as builder confidence in current market conditions rose one point to 74. Builder confidence...

Read More

Is A Reverse Mortgage Right For You?

Imagine the bank depositing monthly premiums into your account instead of you writing a mortgage check. That’s basically how a reverse mortgage works.   Traditional mortgages involve people paying down the interest and principal on a home loan. The goal is generally to pay off the property and cruise through retirement without that monthly installment eating at your budget. With your home paid off, those previously allotted finances can be used to relax and enjoy your retirement to the fullest. That’s the best-case scenario anyway. But financial life has changed significantly over the past half-century. The formula for economic security has been chipped away by rising health care costs, tax increases, and other complications. Working hard and paying off your family home may no longer...

Read More

3 Key Advantages Of Listing Your House This Fall

Homeowners looking to maximize their return on investment often want to know what season best achieves that goal. Getting near or full asking price can be influenced by a wide range of factors, including market trends, inventory and interest rates to name a few. It will come as good news to know there are strong indicators that this fall has unique listing advantages. That means listing a home this fall could help sellers get the price they want. 1: Inventory Remains Very Tight The rules of supply and demand apply equally to the housing market and there are not enough homes to go around. The single-family housing shortage has been driven by multiple factors. A large population of Millennials have entered the real estate market...

Read More

What’s Ahead For Mortgage Rates This Week – September 17th, 2018

Last week’s economic news included readings on consumer credit, inflation and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released. Fed Reports Consumer Credit Jumps in July The Federal Reserve reported that consumer credit rose from $9 billion in June to $17 billion in July. Analysts said a majority of consumer credit was issued for education loans and auto loans. June’s reading was revised downward to $8.50 billion from the original reading of $10.2 billion. Credit card debt increased by 1.50 percent in July after declining by – 1.40 percent in June. Non-revolving consumer debt rose by 6.40 percent in July after growing 4.0 percent in June. July’s reading was the largest increase in eight months. The Fed’s Consumer Credit...

Read More