tag:blogger.com,1999:blog-17921406634041972682024-03-20T16:29:48.232-07:00TheBrokerToAsk469-404-7378 www.DelisaRose.com Welcome to my blog! My goal is to provide you with up-to-date information on the real estate market, tips and tricks, best listings on the market and great information about buying and selling property. If there is anything you would like to know about, feel free to contact me and just ask.About This Lifetime: LYFEOLOGIEhttp://www.blogger.com/profile/09088738734337519401noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-1792140663404197268.post-49506001741065054532017-06-07T01:36:00.001-07:002017-06-07T01:36:04.593-07:00Hands-Only CPR<p>Hands-only CPR can save lives. The American Heart Association states that "Almost 90% of people who suffer out-of-hospital cardiac arrests die. CPR, especially if performed in the first few minutes of cardiac arrest, can double or triple a person's chance of survival." Most people who survive a cardiac emergency are helped by a bystander. </p>
<ol>
<li>Check for responsiveness – shake the person and shout “Are you OK?”<img src="http://www.betterhomeowners.com/image.ashx/6BVbHVmTaE2gllj5GHtULw" width="250" height="247" style="width:250px; height:247px; float:right;" alt="11700251-250.jpg"></li>
<li>Call 9-1-1 – either tell someone to call or make the call yourself</li>
<li>Compress - Push hard and fast in the center of the chest at a rate of 100 per minute.</li>
</ol>
<p>The victim should be flat on their back preferably on the floor. Place the heel of one hand on the center of the victim’s chest and place the heel on top of the other hand lacing your fingers together. Lock your elbows and compress the chest forcefully; make sure you lift enough to let the chest recoil. </p>
<p>Chest compressions should be continued until the person shows obvious life-like breathing, the scene becomes unsafe, an AED (automatic external defibrillator) becomes available, or a trained responder takes over the emergency treatment. </p>
<p>Alternating mouth-to-mouth breaths is not necessary using this method. Compressions are adequate except in drowning or drug overdose situations where 30 chest compressions are followed by two mouth-to-mouth breaths.</p>
<p>Watch this <a href="http://www.redcross.org/get-help/prepare-for-emergencies/be-red-cross-ready/hands-only-cpr">two-minute video</a> and consider taking instructions from the <a href="http://www.redcross.org/ux/take-a-class">Red Cross</a> or other qualified provider. Every household should have at least one person trained in life-saving skills. </p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-281960909516973582017-05-22T12:27:00.000-07:002017-05-22T12:27:19.860-07:00 Would-be Buyers with Student Debt<p>59% of non-owners are not comfortable taking on a mortgage with their student debt <span style="font-size: 13px;">according to the Aspiring Home Buyers 2017 survey</span>. It is estimated that the college graduates have an average of $37,172 in student debt.<img src="http://www.betterhomeowners.com/image.ashx/ABYkFeFuR0uyss1QQwr4ow" width="250" height="248" style="width:250px; height:248px; float:right;" alt="16522219-250.jpg"> </p>
<p>Fannie Mae, who has loan programs with as little as three to five percent down payments, has announced changes to how student loan debt is treated that could make the difference in qualifying for a mortgage.</p>
<p>For the 5 million borrowers who participate in the reduced payment plans, actual payments are considered for calculating debt-to-income ratio rather than maximum payment amount.</p>
<p>Non-mortgage debts paid by another party for at least 12 months won’t be included in calculating debt-to-income ratio. For example, payments being made on a student loan by the parents would not be counted against the DTI ratio for the student.</p>
<p>These changes can make it possible for would-be buyers with student debt to get a home now instead of waiting for years. Being pre-approved by a trusted mortgage professional is the best way to confirm that these changes apply to your situation. Call today for a recommendation of a trusted mortgage professional.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-46195278898597582642017-05-08T12:35:00.001-07:002017-05-08T12:35:34.993-07:00Reasons to Refinance
<p>Regardless of the reason to refinance a home, the basic question to ask is: “Do you plan to live in the home long enough to recapture the cost of refinancing?” There are always expenses involved in refinancing which can be paid in cash or rolled into the new mortgage.</p>
<p>From a strictly financial standpoint, the break-even point is achieved when the cost of refinancing has been recaptured by the monthly savings. It would take approximately 23 months to recapture $4,000 of refinance costs with a lower payment of $175 a month.<img src="http://www.betterhomeowners.com/image.ashx/CYVoB7yPpk6AzFePCXh6eg" width="250" height="207" style="width:250px; height:207px; float:right;" alt="22683914-250.jpg"></p>
<ol>
<li>Lower the rate</li>
<li>Shorten the term so that the loan will build equity faster and be paid off sooner.</li>
<li>Lower your payment to reduce your monthly cost of housing.</li>
<li>Convert an ARM to a FRM to stabilize your payment due to concern of rising interest rates.</li>
<li>Cash out equity to be able to use the money for another purpose.</li>
<li>Combine a first and second mortgage.</li>
<li>Consolidate personal debt so the interest is tax deductible.</li>
<li>Payoff higher cost debt such as credit cards, student debt, etc.</li>
<li>Remove a person from a loan as in the case of a divorce.</li>
</ol>
<p>Points paid to purchase a principal residence are tax deductible completely in the year paid. However, the points must be spread over the life of the mortgage on a refinance. For that reason, consider getting a “par” value loan with no points. It may have a slightly higher rate but the interest will be fully deductible and it will lower the cost of refinancing.</p>
<p>Determine the break-even point on your situation by using the <a class="FinApp.Refi" href="http://www.BetterHomeowners.com/FinancialApps/RefinanceAnalysis.aspx?AccountId=HTaUGwMPQkSMc8__0sb9vg&Auth=1" >Refinance Analysis
</a>. Call for a recommendation of a trusted mortgage professional.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-64966818052121891952017-05-01T04:03:00.000-07:002017-05-01T04:03:55.124-07:00Indecision May Cost More<p>“More has been lost due to indecision than was ever lost to making the wrong decision.” Interest rates have as much effect on housing costs as price and when they are both trending upward, it can be very expensive to wait. <img width="191" height="249" style="width:191px; height:249px; float:right;" alt="25787590cropped.jpg" src="http://www.betterhomeowners.com/image.ashx/tBG1nnfbEE6B5Vp1vyWWmw?s=20"></p>
<p>There can be some legitimate reasons for postponing a purchase such as needing to save the down payment, improve your credit or waiting to find out about a possible transfer. The problem is that prices and interest rates could, and very likely will, go up in the future.</p>
<p>If the price of $250,000 home went up 5% and the interest rate went from 4.5% to 5.25%, the payments would increase by $176.42. The additional cost over a seven-year period would be close to $15,000.</p>
<p>The questions that indecisive buyers need to ask themselves is “how am I going to feel knowing that if I had not waited, I could have been living in the home for less money?” and “What would I have spent the money on if I didn’t have to make the larger payment?”</p>
<p>Use the <a class="FinApp.CostofWaiting" href="http://www.BetterHomeowners.com/FinancialApps/CostofWaiting.aspx?AccountId=HTaUGwMPQkSMc8__0sb9vg&Auth=1" >
Cost of Waiting to Buy</a> calculator to find out how much indecision may be costing you.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-57175691941256429282017-02-27T06:02:00.000-08:002017-02-27T06:02:43.866-08:00Not Available for All Buyers<p>Lenders regularly publish mortgage rates but they may not be available for all buyers. <img width="250" height="166" style="width:250px; height:166px; float:right;" alt="59607784-250.jpg" src="http://www.betterhomeowners.com/image.ashx/9ceLAo9HGEqKVUrRA9NwJw"></p>
<p>Imagine that the mortgage payment based on an advertised rate influenced a buyer to make an offer on a home. After negotiating a binding contract, this buyer makes a loan application and finds out that for any number of possible reasons, that rate isn’t available. </p>
<p>Even if the person does financially qualify for a loan at a higher interest rate, it will not be the payment that the buyer expected when the contract was negotiated.</p>
<p>Lenders evaluate several factors such as the borrower’s credit score, debt-to-income and loan-to-value ratios. These variables are used to assess the risk associated with the repayment of the loan.</p>
<p>While mortgage money is a commodity, it isn’t priced the same way items are that involve cash for goods. The lender puts up the money today based on a promise from the borrower to repay over a long term, possibly up to thirty years.</p>
<p>The simple solution to avoid surprises such as the one described here is to get pre-approved at the beginning of the home search process. Since pre-qualification does not mean the same thing to all lenders, call if you’d like a recommendation of a trusted mortgage professional.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-16258270347567201582016-12-12T06:32:00.000-08:002016-12-12T06:32:16.608-08:00Can 0.5% Really Equal 5%?<p>Since the election, rates have started going up and it will have a direct effect on the cost of housing. There is a rule of thumb that a ½% change in interest is approximately equal to 5% change in price. <img width="250" height="187" style="width:250px; height:187px; float:right;" alt="14439217-250.jpg" src="http://www.betterhomeowners.com/image.ashx/rFuIl3N3DE2VJ2asAJwPEQ?s=20"></p>
<p>As the interest rates go up, it will cost you more to live in the very same home or to keep the payment the same, you’ll have to buy a lower priced home.</p>
<p>Before rates rise too much may be the best time to buy a home whether you’re going to use it for your principal residence or a rental property. Low interest rates and lower prices make housing more affordable.</p>
<p><img width="500" height="253" style="width:500px; height:253px; " alt="interest affects price.png" src="http://www.betterhomeowners.com/image.ashx/UFHQAkcFaU2b9QlFwd23Uw"></p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-45840726603942067722016-10-06T16:24:00.001-07:002016-10-06T16:24:07.866-07:00When the rate goes up<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>It’s not “if” the rate goes up but “when” the rate goes up; it could make a big difference for some buyers. Freddie Mac predicts that mortgage rates will be at 4.5% a year from now.<img width="300" height="287" style="width:300px;height:287px;float:right" alt="Mortgage Rate History0916.png" src="http://www.betterhomeowners.com/image.ashx/EmLtwg7MaEiNyt37EwQGkA"></p>
<p>If buyers can afford a home with higher interest rates, it means higher payments. Higher payments might mean they won’t have the money to spend on other things like furniture or improvements to the home or an unrelated purchase like a new car.</p>
<p>When the rate moves 0.50% on a $250,000, the payment goes up by $70.66 a month. If it moves 1.00%, the payment goes up by $143.74 per month, each and every month for the entire term of the mortgage which means paying over $50,000 more for the house.</p>
<p>The question facing every borrower in this situation is “How will you feel about having to pay more to live in the same house because you were not ready to commit?”</p>
<p>Then, there’s the borrower who is absolutely maxed out as to what they can qualify for or sometimes, it is a borrower who just refuses to pay a higher payment. When that’s the case, the buyer has to make a larger down payment. In the same example, a 0.50% increase in rate would require $14,873 more in down payment. That could make the purchase impossible or require the buyer to buy a lesser price home that will not have the same amenities.</p>
<p>Mortgage rates have been low for so long that some people think that is what they should be. There are some economists who believe that the economy will not be strong again until mortgage rates are in the 7% range.</p>
<p>To see how this type of scenario might affect you, go to the <a href="http://www.BetterHomeowners.com/FinancialApps/RateGoesUp.aspx?AccountId=HTaUGwMPQkSMc8__0sb9vg&Auth=1" target="_blank">
If the Rate Goes Up</a> calculator. </p>
<br></body></html>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-46830122684389111472016-09-16T13:49:00.000-07:002016-09-16T13:49:40.504-07:00Dust Free Home<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>Having a dust-free home isn’t difficult, but it takes a serious commitment and a housekeeping strategy that addresses the dust and its causes. Whether your motive is cleanliness or to eliminate the cause of some allergies and asthma symptoms, it will be worth it.
<img style="width:250px;height:207px;float:right" alt="10043513-250.jpg" src="http://www.betterhomeowners.com/image.ashx/Sg_LneqJakezFZScSCHNNg" height="207" width="250"></p>
<ul>
<li>Try to dust your home at least twice a week. Dust the tallest items and work your way down. Dust picture frames, blinds, baseboards and anything that stands out from the wall.
</li>
<li> Feather dusters can spread more dust than they collect compared to microfiber cloths that attracts dust because they have an electrostatic charge.
</li>
<li> Filters on heating and air-conditioning systems should be changed often not only to remove dust from the air but to increase the efficiency of the units themselves. Special HEPA filters can improve the overall indoor air quality.
</li>
<li> Frequently changing the bag or emptying the container in your vacuum is helpful in eliminating dust.
</li>
<li> Vacuum the floors at least once a week. Vacuum under furniture and periodically, move appliances to clean behind and underneath. Use the proper attachments to vacuum upholstered furniture and under cushions.
</li>
<li> Eliminate dust magnets like carpet, heavy drapes and upholstered furniture. Consider hard surface flooring like wood or tile instead of carpet.
</li>
<li> Keep windows closed to keep dust out.
</li>
<li> Clean your pillows and drapes.
</li>
<li> Damp mopping and dusting with plain water helps hold the dust and is environmentally friendly.
</li>
<li> A humidifier can eliminate static electricity which holds dust.
</li>
<li> Air purifiers circulate are and capture dust and other pollutants.</li>
</ul></body></html>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-65304867990274514942016-09-16T13:37:00.000-07:002016-09-16T13:37:56.332-07:00Getting to Value<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>Fair market value is the price that real estate would sell for on the open market without any unusual forces being involved. The definition is relatively simple but there certainly different methods of determining what it is.<img width="250" height="164" style="width:250px;height:164px;float:right" alt="27939218-250.jpg" src="http://www.betterhomeowners.com/image.ashx/en7rpB8kckejSxmN0ZGnRA">
</p>
<p>A homeowner could order an appraisal before they put their home on the market but would incur the expense of an appraisal and more likely than not, it won’t or can’t be used by the buyer or their lender. The advantage is that an appraisal is a professional approach by a disinterested party to establish value.
</p>
<p>Licensed appraisers use three approaches to value: the market data, the replacement cost and the income approach. The appraiser can put more weight on one approach than another based on his/her assessment of what would be appropriate.
</p>
<p>The replacement cost looks at what it would cost to rebuild the property today less the depreciation it has experienced by age and wear and tear plus the value of the lot.
</p>
<p>The income approach uses a capitalization rate based on the net operating income of a property to determine value. It is more applicable to commercial properties than it is for homes used by homeowners and not rented.
</p>
<p>The market data approach relies on recent sales of similar properties near the subject. The appraiser will make monetary adjustments for differences in the comparables that are used to create a more accurate comparison.
</p>
<p>Real estate agents use a similar approach to determine fair market value by performing a Competitive Market Analysis, CMA. Like the market data approach of an appraisal, it looks at recent sales of similar properties, it also considers properties currently for sale and what homes were unsuccessful in their attempt to sell. This approach is sensitive to supply and demand and may be more reactive to rapidly rising or declining markets.
</p>
<p>Both appraisals and CMAs have a distinct advantage because of the personal opinion as a professional compared to online website estimates using raw data and mathematical formulas. RegardlAnonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-10164034846861942962016-09-01T20:58:00.000-07:002016-09-01T20:58:24.219-07:00Pay Off Your Mortgage?<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>Becoming debt free is as much a part of the American Dream as owning a home but there certainly can be conflicting circumstances that make the decision to pay off your mortgage early unclear.
<img width="250" height="250" style="width:250px;height:250px;float:right" alt="32498400-250.jpg" src="http://www.betterhomeowners.com/image.ashx/ZELm32ksKkO4tldEURAMyQ"></p>
<p>The advantages of paying off debt early is increased cash flow, less interest paid and a higher credit score. The disadvantages are lower cash flow available as discretionary funds for meals, entertainment and other things. If the ultimate goal is financial security, is it worth the intermediate sacrifice?
</p>
<p>Whether you pay off your mortgage early is a personal decision that may be right for one person and not for another. Consider the following before you get started:</p>
<p>Reasons you should
</p>
<ul>
<li>Peace of mind knowing that you don’t have a mortgage
</li>
<li> You’ll save interest regardless of how low your mortgage rate is
</li>
<li> Lowering your housing costs before you retire
</li>
</ul>
<p>Reasons you shouldn’t
</p>
<ul>
<li> You can invest at a higher rate than your mortgage
</li>
<li> You have other debt at a higher rate than your mortgage that needs to be paid off
</li>
<li> You might need the money in the future and want to remain liquid
</li>
<li> You might not qualify for a mortgage currently
</li>
<li> You should pay off other debt with higher interest rates
</li>
<li> Your employer has a matching retirement plan that would benefit you more
</li>
<li> You have more urgent financial needs like emergency fund, life, health and disability insurance
</li>
<li> You expect high inflation and the value of your mortgage debt will decrease
</li>
</ul>
<p>Use this <a href="http://www.BetterHomeowners.com/FinancialApps/EquityAccelerator.aspx?AccountId=HTaUGwMPQkSMc8__0sb9vg&Auth=1" target="_blank">Mortgage Accelerator</a> to determine hoAnonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-64286406494020792892016-08-25T12:27:00.001-07:002016-08-25T12:27:30.189-07:00Two Negotiations<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>There are two negotiation periods in some home sales. The primary negotiation takes place when the contract is agreed upon that includes the price, closing and possession. Buyers and sellers alike feel relieved once this first round has resulted in an agreement but there may be more negotiations to come if there are contingencies for financing, inspections or other things.<img width="250" height="249" style="width:250px;height:249px;float:right" alt="Round 1-250.png" src="http://www.betterhomeowners.com/image.ashx/Itiksp5VoEa62OMLOsdpVw"></p>
<p>The purpose of an inspection is for the buyer to receive an objective evaluation about the condition of the home and its components to identify existing defects and potential problems. The expense for inspections can be several hundred dollars and it’s reasonable for buyers to not want to spend the money before they find out if they can come to terms with the seller. From a different perspective, sellers want to know quickly if the buyer is going to reject the home due to the inspections. </p>
<p>Sometimes, buyers will expect sellers to make all of the repairs listed on the report and this is where the second round of negotiations begins. If the seller refuses, the negotiations can go back and forth until the other party accepts the offer on the table or the contract falls apart.</p>
<p>When purchasing a new home from a builder, it is expected for everything to be in working order; after all, it is new. However, it is reasonable to expect that existing homes, that are not new, have a different standard. While it’s understandable that buyers would want to be aware about major items that are not in “working order”, normal wear and tear of components based on its age should be expected.</p>
<p>In a highly competitive seller’s market, buyers might do whatever they can to get their contract accepted, realizing that there is another place to negotiate when they’re not competing with other buyers’ offers to purchase.</p>
<p>For this to be a WIN-WIN negotiation, both seller and buyer must feel good about the transaction. Neither party should feel that they have been taken advantage of.</p>
<br></body></html>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-5599530508863640842016-08-03T16:54:00.001-07:002016-08-03T16:54:42.211-07:00Increase the Chance of Being Accepted
<p>While all contracts must have certain required elements, mutual assent, consideration, capacity and legality, there are some things that increase its chance of being accepted.
</p>
<p><img width="250" height="186" style="width:250px; height:186px; float:right;" alt="19269905-250.jpg" src="https://www.betterhomeowners.com/image.ashx/kk2cZmVYAkWgkLTQC8TLcQ">The seller generally wants the highest possible price with the fewest inconveniences in the shortest period of time. In the same way, the buyer generally wants the lowest possible price with the fewest inconveniences in the shortest period of time.
</p>
<p>The perspective of the principal can change depending on how these different parts of an agreement are structured.
</p>
<ul>
<li>Offer Price - While the price of the home seems to be the major point of contention in a home negotiation, the seller’s net proceeds and the buyer’s mortgage payment may actually be more critical.
</li>
<li> Financing - 86% of buyers financed their recent home purchase as opposed to the 14% who paid cash. Some financing has higher fees than other types of financing and in some instances, sellers must pay the additional charges on behalf of the buyer.
</li>
<li> Concessions
<ul>
<li> Seller-paid closing costs – paying all or part of a buyer’s closing cost requires less cash outlay for the purchaser and makes it easier or more appealing for them to buy the home.
</li>
<li> Seller-paid buydown – prepaying interest to the lender on behalf of the buyer gives them lower payments for the first one, two or three years even though they must qualify at the note rate of the fixed-rate mortgage.
</li>
<li> Personal property – seller may agree to include existing or new personal property like washer, dryer or refrigerator.
</li>
<li> Improvements – seller may agree to make modifications to the existing condition of the home like floor covering, countertops, appliances, painting or other things.
</li>
</ul>
</li>
<li> Earnest Money – more money gives the seller a sense that the transaction is more likely to close while putting the least amount at risk is generally, more appealing to the buyer.
</li>
<li> Timing – depending on which party is more flexible, sometimes an earlier or later closing or a position on occupancy can be an offsetting consideration that can balance the differing terms.
</li>
<li> Contingencies or lack thereof – requirements that must be satisfied before the contract can be closed.
</li>
</ul>
<p>The training and experience of a skilled negotiator can benefit both buyers and sellers to save time, avoid difficulties and bring all parties to an agreement. Your real estate professional should be able to help you structure a good offer and negotiate a win-win situation.</p>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-51496941685726809062016-07-26T16:12:00.000-07:002016-07-26T16:12:38.474-07:00How Will It Feel?<p>It has been said that change is the only constant. Most of the financial experts have been expecting interest rates to increase along with home prices. While homes, in most markets, have definitely seen increases over the past five years, the mortgage rates today are actually lower than they were a year ago. <img width="300" height="220" style="width:300px; height:220px; float:right;" alt="FreddieMac PMMS 072816 rev.jpg" src="http://www.betterhomeowners.com/image.ashx/3j2nnfO_REugKjv9AT2Dxw"></p>
<p>If the interest rates were to increase by 1% over the next year while homes appreciated at 6% during the same time frame, a $250,000 home would go up by $15,000 and the payment would be $211.53 more each month for as long as the owner had the mortgage. The increased payments alone would amount to $17,769 for the next seven years. </p>
<p>When facing a decision to postpone a purchase for a year, a legitimate question to ask oneself would be: “how will it feel to have to pay more to live in basically the same home a year from now?”</p>
<p>It is easy to understand that if the price of a $250,000 home goes up by 6%, it increases the price by $15,000. A slightly more difficult concept to realize is that if the interest rate were to go up by ½%, it is approximately equal to a 5% increase in price. A 1% increase in mortgage rates would approximately equal a 10% change in price. This means that if a home goes up in price by 6% and the interest rate goes up by 1%, it is equivalent to the price of the home going up by a little more than 16%.</p>
<p>Use the <a class="FinApp.CostofWaiting" href="http://www.BetterHomeowners.com/FinancialApps/CostofWaiting.aspx?AccountId=HTaUGwMPQkSMc8__0sb9vg&Auth=1" >
Cost of Waiting to Buy</a> calculator to estimate what it might cost to wait to purchase based on your own estimates of what interest rates and prices will do in the next year.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-3039191676806657802016-06-27T20:53:00.001-07:002016-06-27T20:53:29.523-07:00Retirement Funds for Home Purchase<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>For the person who has good credit and income but not enough money for the down payment on a home, their qualified retirement program could offer them some help. The rules are different depending on whether it is a 401(k), a Roth IRA or a traditional IRA.<img width="250" height="166" style="width:250px;height:166px;float:right" alt="iStock_000029879344-250.jpg" src="http://www.betterhomeowners.com/image.ashx/00oSR0iWdEqvtUNArp4FWQ"></p>
<p>Up to half of the balance of a 401(k) or $50,000, whichever is less, can be borrowed by the owner at any age for any reason without tax or penalty assuming the employer permits it. There can be specific rules for loans from 401ks that would determine the repayment; interest is usually charged but goes back into the owner’s account. You can consult with your HR department to find out the specifics.</p>
<p>A risk in borrowing against a 401(k) comes if your employment ends before the loan has been repaid. The loan may have to be repaid with as soon as 60 days to keep the loan from being considered a withdrawal and subject to <a href="https://www.irs.gov/retirement-plans/considering-a-loan-from-your-401k-plan-2" target="_blank">tax and penalty</a>. Even if you continue with the same employer, failure to repay the loan could be considered a withdrawal also.</p>
<p>Roth IRA owners can withdraw their contributions tax-free and penalty-free at any age for any reason because the contributions were made with post-tax income. After age 59 ½, earnings may be withdrawn as long as the Roth IRA have been in existence for at least five years.</p>
<p>Traditional IRAs have a provision for <a href="https://www.irs.gov/publications/p590b/ch01.html#en_US_2015_publink1000230925" target="_blank">first-time buyers </a>which include anyone who hasn’t owned a home in the previous two years. A person and their spouse, if married, can each withdrawn up to $10,000 from their traditional IRA for a first-time home purchase without incurring the 10% early-withdrawal penalty. However, they will have to recognize the withdrawal as income in that tax year. For more information, go to <a href="https://www.irs.gov/publications/p590b/ch01.html#en_US_2015_publink1000230922" target="_blank">IRS.gov</a>. </p>
<p>Another interesting fact about this provision is that the taxpayer making the withdrawal can help a relative includes children, grandchildren, parents and grandparents.</p>
<p>If you want more information to clearly understand the issues involved relative to your specific situation, talk to your tax professional or consult <a href="http://www.irs.gov/" target="_blank">www.IRS.gov</a>.</p>
<br></body></html>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-32580396405530180172016-06-21T11:55:00.000-07:002016-06-21T11:55:26.781-07:00Choose a Lower Tax Rate<p>During campaign season, it is not unusual to hear a candidate criticized because they make a lot of money but pay little in income tax. While it might not seem fair, taxpayers are allowed to arrange their affairs so that they minimize the amount of tax paid.<img width="249" height="249" style="width:249px; height:249px; float:right;" alt="tax brackets.png" src="http://www.betterhomeowners.com/image.ashx/aR1tQfSc_kifhdWWXvqvkw"></p>
<p>Salary, wages and commissions, along with interest and dividends are taxed at ordinary income rates which can range from 10% to 39.6%. However, capital gains rates, for property held more than 12 months, are much lower ranging from 0% to 20%. Taxpayers in the 25-35% brackets pay LTCG rates of 15%.</p>
<p>The profit on rental property enjoys the lower long-term capital gains rates as compared to the profit on “flipped” property which is taxed at ordinary income rates. </p>
<p>Investments in rental homes generate income, provide depreciation for tax shelter, have equity build-up due to the amortizing loan, leveraged growth due to the borrowed funds and appreciation. The profits could be considerably higher than alternative investments and the profits taxed at lower rates.</p>
<p>The advantage is available to people who understand the tax laws and choose to arrange their activities so they pay a minimal amount of tax. The advantage is available to all taxpayers, not just the rich. In fact, implementing these types of strategies could lead to an increase in wealth. </p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-50907211677854107342016-06-13T08:51:00.000-07:002016-06-13T08:51:51.861-07:00Increase Your Marketability<p>The seller has three tools available to affect the marketability of their home: price, condition and terms. Price is the easiest to adjust for the competing properties, amount of inventory or market conditions. However, lowering the price is not necessarily the best decision when trying to maximize the proceeds of sale.</p>
<p>If a home is in poor or outdated condition, updating can be done to make it show favorably with other homes that are currently on the market. Sometimes, sellers rationalize not doing the work by saying they believe the buyers would rather make their own choices. The truth is that most buyers are using all their resources to get into the home and will have to live in its present condition until they can save enough to make the changes they want.<img width="250" height="243" style="width:250px; height:243px; float:right;" alt="Marketability-250.jpg" src="http://www.betterhomeowners.com/image.ashx/PNDJ8jrT80qLTRCjg8_Heg"></p>
<p>Another reason to go ahead and invest the money and effort into improving the condition is that it is difficult for buyers to imagine the home any other way than its current condition. When comparing one home to another, buyers will sometimes refer to a home as the “stinky house” or the “old kitchen” which may put it at a disadvantage.</p>
<p>While price and condition are the main things that control the marketability, terms can be equally effective. Terms relate to financial considerations made by the seller to induce a buyer to make a decision to purchase their home. </p>
<p>Seller-paid points or closing costs, interest rate buy downs and owner-financing are examples of terms that may increase the marketability of a home because of the additional benefits they offer to buyers. </p>
<p>An example could be that a seller will carry a 10% second lien so that the buyer can get an 80% loan and avoid the expense of mortgage insurance. The seller gets most of their equity plus a fair interest rate on the loan that doesn’t have to be tied up for 30 years like the first mortgage.</p>
<p>Increasing the marketability of your home is a great conversation to have with your real estate professional especially to help you get the highest price in the shortest time with the fewest problems. Just be aware that not all agents may be as creative as some. </p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-32282746632642589222016-06-09T10:11:00.000-07:002016-06-09T10:11:07.621-07:00The Obvious Alternative Investment<p>Rental homes can be a natural alternative investment choice for homeowners because they are already familiar with houses. Maintenance on a rental is not that much different than on your personal home. The same plumbers, painters and other workmen can be used to make repairs. <img width="250" height="263" style="width:250px; height:263px; float:right;" alt="20947848-250.jpg" src="http://www.betterhomeowners.com/image.ashx/wHaU-9d9Y0m0GXh_f3o-fA"></p>
<p>Single family homes offer an investor high loan-to-value mortgages at fixed interest rates for long terms on appreciating assets with defined tax advantages and more control than other investments.</p>
<ol>
<li>High loan-to-value mortgages – most investments require that you pay cash but rental properties can be purchased with 20% down payment.</li>
<li>Fixed interest rates – most commercial loans are based on a floating rate such as prime interest plus one or two percent compared to real estate loans as fixed rates for the term.</li>
<li>Long terms – commercial loans are generally short-term such as six months or a year with the possibility of being renewed for another six months or a year unlike real estate where a 30-year mortgage is commonplace.</li>
<li>Appreciating assets – real estate has a long-term history of going up in value.</li>
<li>Defined tax advantages – many investments are taxed as ordinary income but rental real estate enjoys a non-cash deduction called cost recovery, the profits from sale are taxed at lower long-term capital gains rates or may be eligible for a tax-deferred exchange.</li>
<li>Control – rental homes don’t require partners and afford the investor more options than investing in mutual funds and other traditional investments.</li>
</ol>
<p>The demand for good rentals is strong and the rents continue to go up in most markets. There are people who choose not to buy or cannot buy a home who would prefer to live in a single family home rather than an apartment. </p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-76776783590573477212016-06-01T05:56:00.001-07:002016-06-01T05:56:52.994-07:00Your Tenants Will Send Your Kids to College<p>Parents, with children getting closer and closer to entering college, may also be feeling stress because they haven’t saved enough for tuition and other expenses. It’s estimated that the average cost for the 2015-16 school year is $32,405 for private colleges, $9,410 for state residents of public colleges and $23,893 for out-of-state residents.<img width="250" height="166" style="width:250px; height:166px; float:right;" alt="kids to college.png" src="http://www.betterhomeowners.com/image.ashx/_NoPYfblWEKNZF2qQSnRSQ"></p>
<p>If you started saving the year your child was born, you’d have to save $4,608 per year for 18 years at 5% to accumulate $129,620. If you waited until they were 10 years old, you’d have to save $13,574 per year to have the right amount. Saving enough can be difficult if you have a lot of time but if you only have a short time to meet your goals, it can seem impossible.</p>
<p><img width="400" height="79" style="width:400px; height:79px; " alt="College costs.png" src="http://www.betterhomeowners.com/image.ashx/vpYkf3x5wk2fxvFwEtjFTw"></p>
<p>Student debt is one way to handle the tuition but many parents are reluctant to saddle their children with the obligation. Currently, there is more than $1.2 trillion in outstanding student loan debt to 40 million borrowers with an average balance of $29,000. Some economists suggest that this debt is delaying would-be buyers from making their first home purchases.</p>
<p>There is another way to pay for the education by making an investment in a rental property. Rents are continuing to rise, homes in owner-occupied neighborhoods are appreciating and the leverage due to borrowed funds can be a huge help in building the equity to pay the tuition.</p>
<p>Rent the home and maintain its condition over the years. As the loan amortizes and the value increases, the equity will grow. When your student is ready to start college, you'll actually have several options.</p>
<p>You can sell the property; pay the tax on the gain at the reduced capital gains rate and fund the education. Another option would be to refinance and take the proceeds to pay for the tuition. This would allow you to continue to own the asset but would free your equity. Under current tax laws, it is a non-taxable event.</p>
<p>In effect, your tenants are paying to send your kids to college.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-62777472760683731822016-05-16T16:29:00.000-07:002016-05-16T16:29:45.582-07:007 Out of 50 Could Save Money<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><html><head><META http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p>It is estimated that seven million out of 50 million homeowners could save money by refinancing their existing mortgages. Obviously, if the replacement mortgage has a lower rate than your existing one, you will save money.</p>
<p>If you bought a home before 2011 and are paying mortgage insurance, you should investigate refinancing to eliminate that requirement. Even if you don’t get a lower interest rate, the savings could amount to hundreds of dollars a month.</p>
<p>If a home you purchased since 2011 has appreciated enough, it could easily justify refinancing to eliminate the required mortgage insurance. Most loans don’t require mortgage insurance if the loan-to-value is 80% or less. There are some programs for 90% mortgages that don’t require mortgage insurance. It is certainly worth investigating with a trusted mortgage professional.</p>
<p>Continuing to pay mortgage insurance that could be eliminated is like having a broken cell phone and continuing to make the monthly payments for something you can’t use and don’t need.</p>
<p>If your current mortgage is several years old, instead of getting a new 30 year mortgage, you might consider a 15-year term. The money you save with a lower interest rate could help you to retire your loan in a shorter time so that your home would be paid for.</p>
<p><img width="400" height="306" style="width:400px;height:306px" alt="30-year average FRM.png" src="http://www.betterhomeowners.com/image.ashx/36y8Wnv2OEOKvYSiQaWukg"></p></body></html>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-14940882981059831682016-05-11T20:04:00.004-07:002016-05-11T20:04:36.471-07:00More Money in Your Paycheck<p>A homeowner’s tax savings benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes. Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year.<img width="250" height="238" style="width:250px; height:238px; float:right;" alt="Increase Allowances.png" src="http://www.betterhomeowners.com/image.ashx/B06O-DjnAEyvmjxfPW9Ltg"></p>
<p>It is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks. Employees can talk to their employers about increasing their deductions stated on their W-4 form.</p>
<p>By increasing the exemptions or deductions, less is taken out of the check and the employee will receive more each pay period. If a person over-estimates their exemptions and therefore, underpays their income tax, they might incur interest and would have additional tax to pay when they filed their tax return.<br>
<br>
Buyers considering this strategy should seek tax advice and discuss it with their human relations department at work. Additional information is available on the Internal Revenue Service website about <a href="http://www.irs.gov/publications/p505/ch01.html#en_US_2014_publink1000194378">Completing Form w-4 and Worksheets</a>.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-61949055827717078582016-05-11T19:48:00.000-07:002016-05-11T19:48:00.088-07:00How Earnest Are You?<p>"If I tell you it's going to rain, you can put the buckets on the porch." If you grew up in the south, you made have heard this expression when a person is testifying to the veracity of his word. If you know a person and/or their reputation, you know whether you can trust their word or not.
</p>
<p><img width="250" height="166" style="width:250px; height:166px; float:right;" alt="7918959_s-250.jpg" src="http://www.betterhomeowners.com/image.ashx/BWa9OReLIEmScuyPqshDtA">However, with a stranger such as a buyer, the seller doesn't know whether they'll live up to the terms of the contract or not. Buyers submit earnest money along with a contract to demonstrate their commitment to the terms of the offer.
</p>
<p>The more earnest money that the buyer deposits indicates to the seller a higher level of commitment to the contract. Except for stated contingencies in the sales contract, if the buyer fails to close on the sale, the earnest money may be forfeited. Significant earnest money makes the seller feels more secure that the contract will close.
</p>
<p>There certainly are a lot of things that can dictate how much earnest money is appropriate. Local customs, price of the home and type of mortgage can all help to determine the proper amount. In some areas, it may be common for it to be 1-5 percent of the purchase price. In other areas, it might be a specific amount like $1,000 to $10,000 depending on the sales price. It really comes down to whatever the buyer and seller agree is the proper amount.
</p>
<p>Another strategy is to put up an adequate amount initially until you get through the inspections or contingency period and then, to put up an additional amount when the contingencies have been removed.
</p>
<p>The earnest money demonstrates the buyers' sincerity in making the offer and proceeding according to the agreement so the seller can take their home off the market and start making plans to move and give possession of their home. Ultimately, both parties want to close as anticipated according to the contract and the earnest money helps facilitate that.
</p>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-14717422161910616942016-05-11T18:01:00.001-07:002016-05-11T18:01:30.420-07:00Your home may be worth a lot more than you think<p>Real estate lost a lot of value during the recession but most areas have
rebounded considerably. In some cases, the homes are worth more than they
were before the housing bubble burst. <img width="250" height="250" style="width: 250px; height: 250px; float: right;" alt="60178926_250.jpg" src="http://www.betterhomeowners.com/image.ashx/j7S-64RJSky_S5GXD2T_Hw"></p>
<p>The dynamics are classic for this type of market: inventories are low,
mortgage rates are low and demand is high. All price ranges are on the
rise with some at an even higher rate because the short supply is causing
competition among buyers.</p>
<p>Another reason many homeowners' may have more equity is simply not staying
current with what is going on in the market. In a recent FNMA study, it
indicates that 23% of owners believe they have negative equity in their home
when actually, it is 9%. 37% believe they have greater than 20% equity in
their home when actually 69% of homeowners do.</p>
<p>Even if you're not planning to sell your home, knowing the value helps you
understand your financial position better. Home equity debt up to a
$100,000 limit is tax deductible and can be used for any purpose. Owner's
commonly refinance to eliminate mortgage insurance, consolidate mortgages, pay
off higher interest rate debt like credit cards or student loans or to buy out
an ex-spouse's equity.</p>
<p>Be aware that an automated value model like Zillow Zestimates uses algorithms
to determine a price and while it might be in the ballpark, AVM results may only
be accurate about 20% of the time. A comparable marketing analysis or
broker's price opinion will be more accurate due the subjective approach that
will be used by an agent with personal experience in the area. An agent
will consider factors like condition, floorplan, marketability and demand.</p>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-48160394237405242432016-05-09T20:27:00.000-07:002016-05-09T20:27:28.568-07:00You may never stop paying for some improvements<head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body><p><img style="width:200px;height:300px;float:right" alt="14041766_s.jpg" src="http://www.betterhomeowners.com/image.ashx/BKadEBAMFUCLiFW4Pz3UYw" height="300" width="200">You've saved the money and are ready to pay cash to build a new pool for your
home. However, that's just the beginning of your soon to be increased
expenses which will include maintenance, higher utilities and higher taxes.</p>
<p>Homeowners obviously benefit by a larger equity when their home increases in
value due to appreciation. A not-so-obvious effect that will also more
than likely take place is that their property taxes will increase. In most
cases, a property's assessed value is generally tied to market value to
calculate the property taxes based on the tax rate for that year. </p>
<p>Similarly, a homeowner can affect the value of their home by making capital
improvements. Some small items may never be recognized by the taxing
authority but items that require a permit, certainly are brought to their
attention. Items such as a fence, roof, remodeling, windows, new rooms or
swimming pools can easily increase the assessed value of a property.</p>
<p>Most states have an established time frame in which to challenge the current
tax assessment for that year. The process is relatively simple and doesn't
require professional representation. It generally involves showing that
there is an error which has overstated the value or that current comparable
sales indicate a lower value.</p>
<p>If you'd like more information or need the comparable sales data, please let
us know. We would be happy to help you investigate the possibility of
lowering your property taxes.</p></body>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-38820275780625012412015-12-08T01:13:00.001-08:002015-12-08T01:14:18.528-08:00<p>The first thing every homeowner needs to know about plumbing is how to turn the water off in case of an emergency. It’s like having a fire extinguisher; you hope you never need it but you want it just in case you do.<img width="250" height="277" style="width:250px; height:277px; float:right;" alt="Plumbing-250.jpg" src="http://www.betterhomeowners.com/image.ashx/X4ZMGsozGU67NmmIOhqgEw"></p>
<p>Generally, the cutoff is in the front of the home. There may be a separate cutoff box on the owner’s side of the meter. If not, the owner needs to be able to open the water meter and turn it off there. This will require a water meter key which can be found at a local home improvement store and a wrench. Once you have the key, practice opening the meter door and check out how the shutoff valve works. Then, put the key in a quick and easy place to find when you need it.</p>
<p>The second thing a homeowner needs is a recommendation of two good plumbers. Having a backup name is always good in case your first choice can’t make it when you need them.</p>
<p>Some homeowners prefer to go the do-it-yourself route. There are plenty of DIY videos on the Internet but having the name of a good plumber if the job gets out of hand can be the tool that saves the day. </p>
<p>Our business puts us in touch with some of the most reliable and reputable service providers and we’re willing to share their names with you. Regardless of whether you “do it or delegate it”, being familiar with the basics can be very helpful.</p>
<br>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0tag:blogger.com,1999:blog-1792140663404197268.post-13514272961282335652015-11-11T15:45:00.000-08:002015-11-11T15:45:41.218-08:00Just the Facts<div align="center" style="text-align: center;">
<b><span style="font-family: "Gisha","sans-serif"; font-size: 20.0pt;">Interest Rates Should Rise in December</span></b></div>
<a href="https://www.blogger.com/null" name="150f5bfb59f0a5a8_150ec648db38b342_/2"></a><a href="https://www.blogger.com/null" name="150f5bfb59f0a5a8_150ec648db38b342_/1"></a><span style="font-family: "Gisha","sans-serif"; font-size: 12.0pt;">You
can’t argue with monthly growth of 271,000 jobs and an unemployment
rate of five per cent. That was Wall Street’s response to the release,
<span class="aBn" data-term="goog_1465217007" tabindex="0"><span class="aQJ">on Friday</span></span>, of the <a href="http://www.bls.gov/news.release/empsit.nr0.htm" target="_blank"><span style="color: windowtext; text-decoration: none;">U.S. employment report for October</span></a>. The yield on Treasury bonds <a href="http://www.bloomberg.com/news/articles/2015-11-05/asian-stock-outlook-split-again-as-dollar-rules-before-payrolls" target="_blank"><span style="color: windowtext; text-decoration: none;">rose
sharply</span></a> as traders priced in a December rate hike by the
Federal Reserve, which would be the first in almost a decade. Indeed,
some analysts were speculating about a second quarter-point rise come
March or April. That last bit of prognostication
was premature, but it does seem highly likely that Fed chair Janet
Yellen and her colleagues will act: as recently as Wednesday, Yellen
described a December rate hike as “<a href="http://blogs.barrons.com/incomeinvesting/2015/11/04/treasuries-fall-as-yellen-says-december-is-live-possibility/" target="_blank"><span style="color: windowtext; text-decoration: none;">a
live possibility</span></a>.” </span><br />
<div style="margin-left: .5in;">
<span style="color: black; font-family: "Gisha","sans-serif"; font-size: 10.0pt;"><span>-<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><i><span style="color: black; font-family: "Gisha","sans-serif"; font-size: 10.0pt;">New Yorker Magazine, November 6, 2015</span></i></b></div>
<b><i><span style="font-family: "Gisha","sans-serif"; font-size: 10.0pt;"> </span></i></b><br />
<b><i><span style="font-family: "Gisha","sans-serif"; font-size: 10.0pt;"><br /></span></i></b>
<br />
<div align="center" style="text-align: center;">
<b><span style="font-family: "Gisha","sans-serif"; font-size: 20.0pt;">October Job Boom; Unemployment Drops</span></b></div>
<span style="font-family: "Gisha","sans-serif"; font-size: 12.0pt;">October hiring burst adds 271,000 jobs, drops Unemployment rate drops to 5-year low
</span><br />
<span style="color: black; font-family: "Gisha","sans-serif"; font-size: 12.0pt;">U.S.
hiring roared back in October after two weak months, with employers
adding a robust 271,000 jobs, the most since December. The unemployment
rate dipped
to a fresh seven-year low of 5 percent.</span><span style="font-family: "Gisha","sans-serif"; font-size: 12.0pt;">
<span style="color: black;">The burst of hiring across a range of
industries came as companies shrugged off slower overseas growth and a
weak U.S manufacturing sector. Big job gains occurred in construction,
health care and retail.</span>
<span style="color: black;">Healthy consumer spending is supporting strong
job growth even as factory payrolls were flat last month and oil and
gas drillers cut jobs.</span>
<span style="color: black;">Any gain above roughly 150,000 was expected to
keep Fed policymakers on track to raise interest rates from record lows
at their mid-December meeting.</span>
<span style="color: black;">A survey by the Institute for Supply
Management found that companies in the health care, retail, financial
and transportation and warehousing industries all added more jobs in
October than in September. Overall, services firms expanded
last month at the fastest pace in three months. That’s in sharp
contrast to the ISM’s survey of manufacturing firms, which barely grew
in October.</span>
<span style="color: black;">Chair Janet Yellen and other leading Fed
officials have said that the economy is generally healthy and that the
December meeting is a “live possibility” for a rate hike.</span></span><br />
<b><i><span style="font-family: "Gisha","sans-serif"; font-size: 10.0pt;"> - Dallas Morning News, November 6, 2015</span></i></b><br />
<span style="font-family: "Gisha","sans-serif"; font-size: 12.0pt;"> </span><br />
<br />
<div align="center" style="text-align: center;">
<b><span style="font-family: "Gisha","sans-serif"; font-size: 20.0pt;">And Texas Home Prices Keep Going Up</span></b></div>
<div align="center" style="text-align: center;">
<b><span style="color: #1f497d; font-family: "Gisha","sans-serif"; font-size: 14.0pt;">“</span></b><b><span style="color: black; font-family: "Gisha","sans-serif"; font-size: 14.0pt;">Unsustainable. Overheated.
Overvalued.</span></b><b><span style="color: #1f497d; font-family: "Gisha","sans-serif"; font-size: 14.0pt;">”</span></b><b><span style="color: black; font-family: "Gisha","sans-serif"; font-size: 14.0pt;"></span></b></div>
<span style="color: black; font-family: "Gisha","sans-serif"; font-size: 12.0pt;">Those
aren’t the usual descriptions used for the Dallas housing market. But
that was before local home prices started jumping more than 10 percent a
year and
before buyers were bidding up the cost of putting a roof over their
heads. The Dallas area now leads the nation in home price gains,
according to analysts at Core Logic Inc. And it’s not just Dallas
that’s seeing higher prices. Costs are soaring in Austin
and San Antonio, too. Even in Houston, where the economy’s been
slapped around by oil and gas industry layoffs, home prices are rising
more than 6 percent a year. The cover of the latest issue of
<i>Texas Monthly</i> magazine calls it “The Great Texas Housing Boom.”
In Texas, the home price binge is being fueled by pure demand from the
people moving here every year. “We have thousands of people moving to
this state, and we are not building enough
places for them to live,” said Texas economist Mark Dotzour. “That’s
what is driving up prices. “Our housing inventory is ridiculously low,
and that’s what’s causing these spiky prices.” Dotzour doesn’t see a
cool-down in Texas home price gains as long as
the flow of people from California, Illinois and elsewhere continues.
“This is going to go on as long as jobs keep coming into the state,” he
said. “As long as we have a shortage of home supply, I don’t know why
prices won’t continue to go up. That’s just
how it works.”</span><br />
<span style="color: black; font-family: "Gisha","sans-serif"; font-size: 10.0pt;"><span>-<span style="font: 7.0pt "Times New Roman";">
</span></span></span><b><i><span style="color: black; font-family: "Gisha","sans-serif"; font-size: 10.0pt;">Dallas Morning News, November 5, 2015</span></i></b>Anonymoushttp://www.blogger.com/profile/09581940157929411357noreply@blogger.com0