Mortgage Demand Jumps in Past Week Amid Bank Closures, as Rates Took a Dip
March 16, 2023
Mortgage demand rose over the past week, despite news of bank closures and an uncertain economic outlook. Demand for mortgages rose 6.5% in the latest week as rates dropped slightly. The market index rose by 6.5% to 214.5 for the week ending March 10 from a week earlier. A year ago, the index ...
Tips Before You Buy A Detroit Home
March 16, 2023
TIPS BEFORE YOU BUY A DETROIT HOME Before you buy your home in Detroit, the Detroit Water and Sewerage Department (DWSD) is providing these important tips. Please read carefully to be fully aware of how water bills are handled during a property sale. When buying a home in Detroit: 1.) Request a final closing bill ...
Investor Series – Single Family vs. Multi-Units
March 15, 2023
This is one of many articles we will be writing regarding investing in Real Estate. Today we’ll be looking at single family homes as an investment compared to multi-unit properties.Single family homes offer some unique benefits as a Real Estate investment. They are typically much more liquid as there are a great number of buyers ...
Tips to Make Your MLS Comments Stand Out
March 15, 2023
It would be nice if the MLS description could tell us everything we could possibly know about the home…but it can’t. There is simply not enough room in those limited number of characters you are allowed to tell everything. So how then can agents really make there MLS comments stand out? Here are a few ...
Housing Market Normalizing
March 15, 2023
The frenzied pace of home sales activity during the pandemic was not normal or sustainable, nor is it good for a healthy, stable housing market. A return to a slower market with more modest price growth is a good place to be headed in 2023.Across our region, home sales in 2022 were down 1% in sales volume ...
Spring Gardens - Clean Up Tips
March 15, 2023
As the weather is getting warmer, many new homeowners that purchased over the winter months are getting their first look at the gardens and flower beds around their new home. Feeling excited and ready to jump into cleaning them out and making them their own.Knowing when to start and how to spring clean garden areas is important ...
7 Easy Fixes to Try if Your Heater Isn't Working
March 15, 2023
It's always the worst timing when something in your home stops working or breaks down especially your furnace! Your furnace is one the most important appliances in your home even if the summer months. Before you call the repair company take a look at the list below to see if they do the trick. Check your ...
curb appeal, curb appeal, curb appeal
March 15, 2023
A few landscaping ideas to help with your homes curb appeal.-Make sure the pathway to your front door is warm and inviting. Add color that will work thru the seasons of your area-Add some scented plants to your door-Think of all seasons and how the sun travles thru the yard. Consider adding a plant that may provide ...
How do I prepare my house for spring?
March 15, 2023
7 Tips to Prep Your House & Yard for SpringStep 1: Clean Out Your Gutters. ...Step 2: Clean Up Your Yard. ...Step 3: Clean Your Home's Exterior. ...Step 4: Dethatch and Aerate Your Lawn. ...Step 5: Fertilize and Seed Your Lawn. ...Step 6: Fertilize and Mulch Your Garden Beds. ...Step 7: Prepare Your Patio. ...Project Shopping List. ...
FORECLOSURE ACTIVITY JANUARAY 2023
March 15, 2023
Lenders repossessed 3,896 U.S. properties through completed foreclosures (REOs) in January 2023, up 6 percent from last month but down 19 percent from last year – the first annual decrease in completed foreclosures since June 2021.States that had at least 100 or more REOs and that saw the greatest annual decreases in January 2023 included: Florida ...
Bad News for Home Buyers: Mortgage Rates Inch Towards 7%, Highest Level in 2023
March 15, 2023
By Aarthi SwaminathanFeb 22, 2023The average on the 30-year fixed-rate mortgage was 6.87% as of Tuesday afternoon, while the 15-year was at 6.07%, according to Mortgage News Daily. Rates are officially at the highest level for the year. But to be clear, rates have been higher—they surpassed the 7% threshold, and reached 7.37% back in ...
Home Search Tips in a Challenging Market
March 15, 2023
In 2022, most people were hoping there would be more inventory in 2023. While the number of buyers / competition has decreased, the number of homes for sale remains low. Although, fighting two buyers for a home is better than battling fifteen. When all is said and done, it's still tough out there for buyers. The ...
Why You Need A True Expert In Today's Housing Market
March 15, 2023
The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your first home or selling once again, it’s mission critical to work with an expert who can guide you ...
What is the Good Neighbor Next Door Program?
March 13, 2023
Law enforcement officers, teachers (pre-Kindergarten through 12th grade) firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, an eligible buyer must commit to live ...
Thinking About Selling Your Home? These Kitchen Improvements Might Be Worth Doing
March 13, 2023
When you sell your home, you want to sell it as quickly and profitably as possible. And sometimes, that means making some improvements before you start showing it to buyers—including improvements in the kitchen.But what kitchen improvements might make sense to do before listing your home?A recent article from realtor.com outlined the kitchen improvements you ...
Time to spring forward and change batteries
March 11, 2023
https://norwalkreflector.com/news/448199/time-to-spring-forward-and-change-batteries/Time to spring forward and change batteriesWinter may have been a touch gentler this year, but there is still a certain excitement about the approach of spring. Though it's not the official start, this weekend's spring forward on the clocks will make the shift, in most minds.It's not just about more light in the ...
HUD Extends Loan Mod Option to 480 Months
March 11, 2023
The U.S. Department of Housing & Urban Development (HUD) has published a Final Rule in the Federal Register its intent to increase the maximum allowable term for Federal Housing Administration (FHA)-insured loan modifications from 360 months to 480 months (40 months). The new rule will become effective Monday, May 8, 2023.On April 1, 2022, the FHA published ...
HOUSING MARKET PREDICTIONS FOR 2023: ARE HOMES PRICES FINALLY BECOMING AFFORDABLE?
March 10, 2023
The declining mortgage rates trend that brought back some prospective buyers to the market in the first month of 2023 has ended—at least for now. Home sales prices responded by continuing their downward slide. However, many economists remain mixed about how much more home prices will drop this year.For one, the nation’s housing supply remains limited. ...
Common Seller's Mistakes
March 10, 2023
This list of frequent sellers’ mistakes regarding house listing pricing can help you avoid the pitfalls involved in selling your home. If setting a price was simple and straightforward, you would not need assistance in pricing your home correctly. Save yourself time and money by avoiding these costly mistakes.PRICING MISTAKESThe first several seller mistakes involve the issue of ...
‘Affordability Is Hindered’: Mortgage Rates Rise for Fourth Week in a Row, Surpass 7%
March 10, 2023
By Aarthi SwaminathanMar 2, 2023The numbers: Mortgage rates are up for the fourth week in a row.The 30-year fixed mortgage rate hit 7.1%, up from 6.94% on Wednesday, according to the latest data of mortgage brokers released Thursday by Mortgage News Daily.Mortgage News Daily says its index is driven by real-time changes in actual lender ...
the importance of having a home inspection
March 08, 2023
The importance of having a home inspection. When making an offer on a home, buyers are usually starry eyed. They have found the perfect place to put down roots, written a contract and have had their offer accepted. Evrything is great....so far! Now comes the part where they pay someone to find things wrong ...
Is Multigenerational Housing for You?
March 07, 2023
The pandemic caused many homeowners to reexamine what "home" means to them, which has now given rise to more multigenerational households. Multigenerational buying is where families live in the same home with elderly parents, kids that have moved back home or other extended family. According to the National Association of Realtors, it was gained much popularity ...
Lightning Proofing Your Home
March 07, 2023
Big storms can be scary. With the wind, heavy rain, and the threat of even more extreme weather, they can also bring with them a lot of damage. While a lot of people make plans on how to react to some of the big dangers associated with storms, there’s one more common threat that often goes overlooked: lightning ...
Mortgage Rates
March 06, 2023
Mortgage rates started the month rising to nearly 6.7%. Strong economic data and elevated inflation are the two main reasons mortgage rates have risen for the last 4 straight weeks. According to Freddie Mac, the average rate on a 30-year fixed mortgage increased to 6.65% from 6.50% the previous week.Will these higher rates affect the ...
Buying A HUD Property Number 2
February 28, 2023
Buying a HUD Property Number 2by Tom Nelson HUD Licensed Listing Broker (LLB)Buying a HUD Home may be a wonderful opportunity to buy a great home. Here is how you go about buying a HUD home.Find A HUD Registered Selling (buyer’s) AgentContact a realtor and make sure that they are registered with HUD to sell you ...
