Home Sales Generate $52,205 Impact on Economy!

            The National Association of Realtors (NAR) compiled data from research conducted by the Bureau of Economic Analysis & Macroeconomic Advisors on the economic impact of a home purchase. After reviewing the data, they concluded that the total economic impact of a typical home sale in the United States is an […]

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An American Family’s Net Worth

Here’s a breakdown of the American family’s net worth per a Federal Reserve report.  The total wealth of American family in this family is $77,300; that’s their net worth.  $47,500 of that net worth is in home equity!  More than half! Even after the roughest decade in American real estate history, the savings people have in their […]

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What Happened After the Bernanke Announcement?

Last week, Bernard Bernanke startled many by announcing that the Fed will not wind down their bond buying program right now. The program is part of an overall stimulus package geared at bringing back the national economy. The Fed’s purchase of these bonds over the last few years has driven mortgage rates to historic lows. […]

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The Cost of Buying A House If You Waited

We often talk about the potential cost of waiting to buy a home. Today, I want to look at the actual cost for someone who waited over the last year. A 10% increase in house values was used as prices have gone up by double digits in the country (nationally) on average.  Keep in mind real estate is […]

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Where Are Mortgage Rates Headed?

Today’s $20,000 question is… Where are mortgage rates headed in the near future? Most believe the rapid rise in rates experienced over the last month will not be sustained and that they will level off into a range between 4% and 5%. When recently asked, Zillow’s director of Mortgage Marketplace, Erin Lantz suggested: “It is […]

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How Difficult Is The Mortgage Process For Buyers?

TD Bank recently announced the results of their inaugural Mortgage Service Index. The index was designed to identify best practices and trouble areas in home financing and act as a service indicator for lending institutions. Below are some of the key findings of the survey.   Positive Experiences The index identified the percentage of respondents […]

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If You Waited To Sell, You May Be Brilliant!

Are you a homeowner that looks back on 2006 house values and wonder why you didn’t sell at the height of the market? Do you lament the money you may have lost by not selling? Looking back at the euphoria that permeated the real estate market at the time, many may have sold and moved into an even nicer, […]

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Home Sweet HomeOwner – Tax Credits For You

Please Note that taxes are complicated, and the eligibility for these credits can vary depending on location and income.  Always best to check with your accountant if you have any uncertanties. On January 1, 2013 the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff,” the bill was signed by President Barack […]

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“Qualified Mortgage” News For You

Last week, the Consumer Financial Protection Bureau (CFPB) announced its rules for a qualified mortgage. Let’s take a look at what it will mean to housing. The idea of a QM is to assure the “ability to pay” — what standards a bank must follow to make sure a borrower has the ability to make […]

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Things Not To Do Before Your Home Loan Is Funded!

The last few years have been especially difficult for banks who have watched as thousands of their home loans have gone into default, and homes into foreclosure. Because the lending market has become so tough, lending guidelines have already started changing, making it tougher for some people to obtain home loans. I thought you should […]

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