Blog

31
Jul
By Jim Hasek
Home Buyer Tips, ,

First-time Home Buyers: Why Splurging for a Larger Home Beats Condo Living

Some first-time home buyers are on a tight budget when making their real estate purchase, and there may be an inclination by many to purchase a smaller property, such as a condo, rather than the home they truly want. While there may be some initial financial benefit associated with buying a smaller property, there are a few benefits associated with splurging and buying a larger home as a first purchase. By analyzing these benefits, first-time home buyers can make a more informed decision about how to proceed. Costs Associated With Upgrading In The Future Some people will purchase a smaller…
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30
Jul
By Jim Hasek
Market Outlook, ,

Federal Reserve FOMC Announcement

The stage was set in high suspense for FOMC's post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions. Meanwhile, reports of what Fed rate hikes will mean for consumers were released prior to the FOMC statement. Real estate analyst Mark Hanson said that a rate hike would "crush"…
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29
Jul
By Jim Hasek
Home Mortgage Tips, ,

Understanding the Basics of How the Adjustable Rate Mortgage or ‘ARM’ Works

As the 2009 recession fades into the sunset, the home buying market is showing signs of improvement in areas all over the United States. With more home buyers now entering the market, this becomes a good time to discuss one popular type of mortgage called the "Adjustable Rate Mortgage" or ARM. What is an Adjustable Rate Mortgage? An adjustable rate mortgage is a non-traditional home loan offered by lenders where the interest rate is tied to a specific rate index. The applicable rate on this type of mortgage is adjusted on an annual basis, usually beginning after the first 12…
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28
Jul
By Jim Hasek
Home Mortgage Tips, ,

The HARP Mortgage Program is Coming to an End Soon – Here’s What You Need to Know

The United States government established the HARP program, otherwise known as the Home Affordable Refinance Program, to assist homeowners who are struggling with their mortgage payments. Initially, the program was founded in March 2009, and it has provided many homeowners with an easier route to adjusting their mortgage payments to make them more affordable. However, the program will be ending soon, and homeowners who have not yet taken advantage of the program and who intend to do so may need to act quickly. When Does the Program End? The HARP mortgage program will officially end on December 31, 2015. If…
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27
Jul
By Jim Hasek
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – July 27, 2015

Last week's scheduled economic news releases were limited as no news was released on Monday or Tuesday, but good news did arrive in the form of a dip in mortgage rates for fixed rate loans. The National Association of Realtors® reported higher sales of pre-owned homes and FHFA reported that home price growth associated with mortgages held or backed by Fannie Mae and Freddie Mac held steady in May. Sales of Pre-Owned Homes and FHFA House Prices Rise According to the National Association of Realtors®, June sales of existing homes reached their highest level since February 2007. Sales of used…
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24
Jul
By Jim Hasek
Around The Home, ,

Have a Weekend to Spare? Consider These Quick Renovations to Add Value to Your Home

Homeowners who are thinking about listing their home for sale in the coming weeks or months may be focused on improving their home to help it sell more quickly, but there also may be a focus on adding value to the home in the process. While each home is unique, there are a few projects that most homeowners would benefit from. In fact, these are a few simple and easy projects that can typicaly be completed over the course of a weekend; that can add value and desirability to the home. Replace The Front Door The front door has an…
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