Oct 21, 2016 | Around The Home, Uncategorized
There are untold benefits to reusing old household items instead of tossing them. Not only are you reducing your ecological footprint, but you can also save lots of money by recycling what you’ve already bought. Read on for some common items that are easily repurposed.
Finish The Milk, But Don’t Toss The Jug
Go for plastic milk jugs instead of cartons and easily repurpose them as, for example, watering cans. Simply, and carefully, use a nail and a hammer to poke several holes in the lid. Go for the 2-litre jugs if you only have one or two indoor plants, and the 4-litre if you have more.
Mason Jars, Beer Bottles And Applesauce, Oh My!
Glass containers are brilliant as storage, in the kitchen or elsewhere why not use a jar as a toothbrush or writing utensil holder? Beer bottles or other narrow-necked containers become flower vases. Jars with tight screw lids and a narrowing neck, like applesauce jars, can become a travel-sized water or juice bottle. And all of these containers can be covered in fabric or paint, to make them functional and beautiful.
Broken Dresser? Don’t Chuck The Drawers
So your dresser broke? That’s okay. Drawers never go out of style. Use old ones as under-the-bed storage, or stack and secure them with the bottom against the wall for a DIY shelving unit. You can also fill them with soil and use them as planters in your garden or yard.
A New Take On Hand-Me-Down Clothes
Clothing is one of the most ubiquitous household items which is perfect, because it’s also one of the most versatile. Cut up an old dress or collared shirt and, with a quick run through the sewing machine, you have a new baby dress or bib. If you use a scarf to wrap a present (for more info, look at “furoshiki” techniques), you’re giving an extra gift to your friend, and the planet.
Use Up The Floss And Break A Dish
Next time you’re travelling, finish up the floss first and use the container to store cash. This recycles the container and it disguises the money in case of burglars. And if you break a dish, don’t worry you can smooth the edges of the broken pieces and use them as mosaic tiles, or a garden border, or jewelry.
It’s simple. To start saving money, and the planet, use these easy ideas, or reach out to your local real estate agent for more tips and tricks on how to reuse old household items in funky, handy ways.
Oct 20, 2016 | Home Mortgage Tips, Uncategorized
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment if your home has been appraised at less than you envisioned, here are some options you may want to consider.
Review The Appraisal Contingency Clause
If an appraisal contingency clause is built into the terms of your contract, this means that the terms of your contract can be re-evaluated and re-negotiated if an appraisal happens to come up short. While this is meant primarily to protect the homebuyer against a lower appraisal, it doesn’t mean that the terms of a new deal can’t be met for the good of both parties.
Get A Second Appraisal
It’s entirely possible that the initial appraisal is accurate, but it doesn’t necessarily hurt to get a second opinion in the event that the first appraisal seems too low. While you can work in conjunction with your lender to get a second appraisal, you may need to pay for it the second time around in order to get your initial purchasing price. Whether it happens to be good news or bad news, it can be worth the peace of mind to know how to proceed.
Consider A Lower Price
It’s less than ideal when your home is appraised for less than the purchase price, but this doesn’t have to be a deal breaker when it comes to selling it. While you may be able to get away with a higher price for your home in a hot real estate market, if things have cooled off, this can be an important time to re-negotiate the deal you’ve got. If a potential buyer likes your home and has already made an offer, they may be happy to decide on new contract terms.
It can be quite disappointing if your home is appraised at a value that is less than the offer you’ve received, but this doesn’t necessarily mean that you’ll have to put your home back on the market. Whether you and the potential buyer decide to re-negotiate or get a second opinion, there are options that can be beneficial for both parties. If you’re currently going through the appraisal process, you may want to contact your local real estate professional for more information.
Oct 19, 2016 | Housing Market, Uncategorized
According to the National Association of Home Builders, overall builder confidence in housing markets dropped two points in October to an index reading of 63. September’s reading of 65 was the highest posted since the housing bubble peak. Component readings for October’s housing market index were mixed; the reading for builder confidence in market conditions over the next six months rose one point to 72. Builder confidence in current housing market conditions fell two points to 69. Builder outlook for buyer traffic in new home developments over the next six months fell by one point to an index reading of 46.
Approaching winter weather likely contributed to lower readings, but builder confidence remained strong. Any reading above 50 signifies that more builders are confident about specific index components than fewer. While home builders continue to be encouraged by low mortgage rates and a stronger job market, they also face obstacles including shortages of labor and buildable lots for development.
High Demand, Low Inventory of Homes Present Ongoing Challenges
High demand for homes coupled with depleted inventory of available homes is sidelining some buyers. As demand continues to drive home prices higher first-time and moderate income buyers are faced with affordability and mortgage qualification challenges. Limited inventory also makes it difficult for home buyers to find homes they want and contributes to competition for available homes. Buyers depending on mortgage financing typically compete with investors and cash buyers for homes in high demand areas.
Real estate pros and analysts monitor home builder sentiment as an indicator of future home supplies, but builder sentiment and housing starts don’t necessarily correspond. Given high home prices and strict mortgage qualification standards that sideline some buyers, it appears that home builders are taking a moderate stance toward ramping up construction.
In addition to boosting real estate markets, building homes provides jobs and supports local economies. Building homes creates demand for construction materials and related products and services.
Oct 18, 2016 | Home Mortgage Tips
It’s often the case that people will opt to postpone home ownership until the best rates are available or it’s a more stable investment, but in an ever-shifting market it may not be the best decision to put such a sizeable investment off. If you’re wondering whether or not you should put off investing in a home, here are some reasons you may want to start putting your time into searching for a home.
Interest Rates Always Fluctuate
While interest rates are constantly changing and have certainly risen since the economic recession of 2008, they still remain relatively low and this can make investing in a home an even better financial decision. There are no certainties that market rates will remain low, but given a lower monthly payment and the easier qualifications nowadays to acquire a loan, the present may be the best time to start investing in your own place.
Investing Early Reaps Financial Rewards
It’s easy enough to wait for a lower home price or even improved interest rates, but there is no guarantee that the market will shift down. In the meantime, you may be spending at lot of your monthly paychecks on rent. If home ownership is one of your goals in life and you’re living month to month with a high rental payment, investing money into a home is a sure way to gaining equity for the future, even in the event that the market shifts up.
It’s A Good Time To Buy
When it comes to the market, there may always be a time coming when you’ll get a better deal, but the fact remains that homes tend to remain on the market a lot longer these days and it’s largely a buyer’s market. There are no guarantees that you’ll be able to find the house you want at the price you can afford, but there are a lot of good deals to be found these days and investing sooner is an opportunity to reap financial rewards down the road.
Many people hold off on home ownership because they are waiting for prices to come down or interest rates to change, but the sooner you invest in a home, the more you can benefit from investing into something that is entirely your own. If you’re currently perusing the market for a home at a price you can afford, contact your local real esatate professional for more information.
Oct 17, 2016 | Mortgage Rates
Last week’s economic news included reports on job openings, retail sales and weekly readings on average mortgage rates and new jobless claims.
Job openings were lower in August after hitting an all-time high in July according to the federal government. Job openings fell to 5.44 million in August as compared to July’s reading of 5.83 million job openings, Job openings reached 5.31 million in August of 2015. Job quits were unchanged in August with a reading of 3.0 million quits; the quits rate was 2.20 percent. There were 5.4 million hires in August as compared to 5.8 million hires in July. The hiring rate held steady at 3.60 percent.
Weekly jobless held steady from the prior week’s reading of 246,000 new claims, although analysts expected a reading of 252,000 new claims. September retail sales increased by 0.60 percent in September and fell short of expectations of 0.70 percent growth. August’s retail sales reading was negative at -0.20 percent. Retail sales excluding the automotive sector were as expected with an increase of 0.50 percent.
Mortgage Rates Rise, Consumer Sentiment Slips
Freddie Mac reported higher rates for fixed rate mortgages. The rate for a 30-year fixed rate mortgage rose five basis points to 3.47 percent. The average rate for a 15-year mortgage was four basis points higher at 2.76 percent. The average rate for a 5/1 adjustable rate mortgage was unchanged at 2.84 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
Consumer sentiment was lower in October with an index reading of 87.90 percent. Analysts expected a reading of 91.70 percent based on September’s reading of 91.20 percent. November’s presidential election was viewed by analysts as unsettling to consumers’ feelings about current and expected economic conditions. The index reading for consumer sentiment for current economic conditions rose from 104.20 percent in September to 105.50 in October, but fell sharply for expected economic conditions to an index reading of 76.60. Analysts noted that consumers with lower incomes expressed less assurance about post-election economic conditions.
What‘s Ahead
This week’s scheduled economic reports include the NAHB/Wells Fargo Home Builders Market Index, Sales of Pre-Owned Homes and Commerce Department readings on housing starts and building permits issued. In addition to weekly readings on mortgage rates and new jobless claims, reports on consumer spending will also be released.
