Every day contains a little more promise when we wake up in our own home. It's a secure place where we can safely dream, and then step out to realize those aspirations. Let's think of everything that's working in our favor as we get started on a new year! Knowing we have our own special spot in the world makes life's challenges a bit smaller. We're prepared to help you gain the greatest possible enjoyment from owning your home. Get in touch with us if you have questions about purchasing a house or refinancing your current mortgage in the coming year.
Housing indicators continue to stabilize, reports the National Association of Realtors (NAR). Experts say these are necessary steps which allow the market to gather strength before it advances. Here are some recent developments:
Many buyers report they can move into their own house and pay less each month than they would spend on rent. A fixed-rate mortgage allows them to keep those payments steady, while renters can expect yearly boosts to their housing costs. Neither rock-bottom rates nor terrific housing bargains will be available indefinitely. Talk with us soon to discover how you can benefit from today's promising real estate marketplace.
Improving unemployment figures as we approached the end of 2011 should translate into a boost for home sales. The Wall Street Journal called the November jobs report "good news for the economy and even better for housing."
Unemployment rates for young adults dropped sharply at that time, notes the Journal. Having a job will allow many 25- to 34-year-olds who have been living with roommates or family members to set up their own household. It's no secret that in recent years millions of young Americans have been delaying marriage and starting a family – or just getting out on their own – due to the weak job market. Better prospects for this group will help them make an important first-time home purchase.
Earning a steady income is a big part of anyone's homeownership quest. Knowing you can take care of your everyday expenses while paying off a mortgage is crucially important to feeling comfortable while taking such a big step. Buying a house is a smart long-term choice for most Americans, and today's conditions mean purchasing soon could be a timely decision. Mortgage payments on an average home – even including taxes and insurance – were lower than average rents in almost half the metro areas tracked in a study recently done for The Wall Street Journal.
Average rental costs went up an estimated four percent in 2011, the Journal adds. Price increases for renters are expected to be even higher this year. You can rely on us to show you how buying now will fit into your budget. We'll review how your income and expenses may change in the future to be certain that purchasing is a smart long-term decision for you.
Growing government deficits worldwide have sparked concerns about future inflation levels. America's Federal Reserve and other central banks have been increasing the supply of money, in order to keep economies expanding. Currently inflation is at low levels. But if it picked up even modestly, the effects would add up over time. Inflation typically reduces the value of cash, while increasing what real objects are worth. For instance, the price of energy tends to rise during inflationary times.
Real estate owners and investors can expect higher inflation to have a couple of important effects on them. First, mortgage rates most likely will spike upwards once inflation climbs. Borrowers should consider moving into a fixed-rate mortgage soon if they're concerned about inflation. Fixed loans offer payments that won't change in the future, no matter what happens with inflation and interest rates.
Towards the end of last year federal authorities launched criminal investigations into online mortgage offers. Deceptive advertising on search engines turned popular search engines "into tools of prey for crooks looking to bilk homeowners," reports The Associated Press. "The scams involved online ads which make bogus promises."
It's critical for consumers to work with professionals they trust as they buy or refinance property. Knowing you can depend on one person to answer your questions and assist you throughout the process is invaluable. Count on us to provide you with the advice and resources you need to succeed in today's real estate marketplace. We're ready to assist you from the time you're considering a move until everything is finalized!
In recent years some consumers have purchased grand homes – but then faced a long daily commute. Additionally, some features which boosted the cost of these suburban houses now seem unnecessary to buyers. Grand entryways with high ceilings aren't in demand as much today, especially since many families rarely use their front door. Having a "drop zone" off the garage where coats, shoes, briefcases, and backpacks can be stashed in between trips is more practical.
Buyers now also may prefer having one large area encompassing the kitchen, dining space, and family room. Furniture can be used to separate those functions, rather than needing to wall them off. Knowing how you live helps you find a house that suits your daily needs. You'll then use all the space well, and won't be paying for rooms which aren't important to you.
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