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08
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – Sept 8, 2014

Last week's housing-related economic news was slim, likely due to the Labor Day holiday Monday. On Tuesday, the U.S. Commerce Department reported that construction spending for July increased by 1.80 percent as compared to June's revised reading of 1.0 percent and expectations of a 1.0 percent increase for July. The Federal Reserve released its Beige Book report Wednesday; the collection of anecdotes from business contacts within the 12 Federal Reserve districts indicated that the general economy was strengthening as well as labor markets. The Fed noted a shortage of skilled workers. New construction and home sales grew modestly, but the…
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05
Sep
By Jim Hasek
Home Selling Tips, ,

You Ask, We Answer: Understanding the Real Estate ‘Short Sale’ and How This Process Works

A short sale is something that occurs when a homeowner is not able to make the mortgage payments on time due to a financial hardship. Instead of foreclosing on the property after one or more missed payments, the bank may agree to allow the homeowner to turn the home over to the bank, which will sell it to as close to market value as possible. Here's what you need to know about how short sales work and what circumstances might call for one. Step 1: The Homeowner Provides Information To The Bank The first step in the short sale process…
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04
Sep
By Jim Hasek
Home Mortgage Tips, ,

Children Leaving the Nest? 3 Pieces of Sage Advice You Can Share About How to Manage a Mortgage

When your children are about to step out into the world on their own, you want to help them on their way. This especially holds true when it comes to buying a house. As your sons or daughters prepare to take the plunge into home ownership, make sure they follow three crucial tips that will help them during the mortgage process. Don't Bite Off More Than You Can Chew One of the biggest mistakes that homeowners make is choosing a home that is beyond their price range. Your children need to remember that they are going to be paying for…
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03
Sep
By Jim Hasek
Home Mortgage Tips, ,

Applying for a Mortgage? Three Questions Your Lender Will Ask You – and How to Prepare Your Answers

Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. That means your lender will be asking you several questions about whether or not you can afford a mortgage. Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval. How Stable Is Your Income? Your lender is going to want to know that your income is going to be stable over the life of the loan. This means that you should…
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02
Sep
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – Sept 2, 2014

Last week's economic news included several reports related to housing. The Case-Shiller and FHFA reports for June showed a further slowing in home price growth. New home sales for July fell short of the expected reading, but pending home sales exceeded expectations. The details: Case-Shiller, FHFA: June Home Price Growth Slows The Case-Shiller 10 and 20-City Home Price Index for June moved from May's year-over-year reading of 9.40 percent growth to 8.10 percent in June. Home prices grew by 1.00 percent on a month-to-month basis in June as compared to May's reading of 1.20 percent. Demand shrank due to increasing…
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29
Aug
By Jim Hasek
Home Seller Tips, ,

Six Key Questions to Ask when Hiring a Real Estate Agent to Market and Sell Your Home

The work of a real estate agent can make or break how a prospective buyer feels about the property. Now that it's time to sell your home, you want to find the right agent to market it. How do you find someone you can trust who will make you feel confident they can sell your home quickly for the best price possible? Here are the questions you should be asking. Are They Licensed? This one is the easy one. You should be working with a member of the National Association of Realtors®. It is also important that you check whether…
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