Friday, March 23, 2018 / by Cole Elwood
There are many economic variables to consider when selling your home when interest rates are rising. If that’s the only changing economic variable, you’re generally going to see a negative impact on both home sales and home prices. This means as interest rates rise, the buyer pool for your home is going to shrink.
In 2008, the Federal Reserve set rates at 0.25 percent because of the recession and the lack of buyer confidence or demand. Since then, buyer confidence and buyer demand have risen. In December 2015, rates climbed to 0.5 percent and continued to rise to where they are today at 1.5 percent. The Fed has noted rates will rise to 2 percent in 2018 and then 3 percent by 2020.
What Happens to the Ability to Sell Your Home With These Rises in Interest Rates?If interest rates rise 1 percent and all other economic factors remain the same, purchasing power for homebuyers will decrease by just over 11 percent; therefore, every quarter-percent (0.25 percent) rise of interes ...
Thursday, October 05, 2017 / by Cole Elwood
Buying a home is the single largest investment most people make. Add the fact that it is the first time going through the home buying process and it can become one of the most difficult decision to make and for some too overwhelming to even start. Take these 3 easy first steps and you too can be confident in starting the purchasing process.
Step 1. Talk to a lender, Get pre-approved
By far the most important step in any home purchase that is not a cash deal is talking to a lender. Getting pre approved for financing before your start looking at homes will save you time. The types of properties you look at will be determined not only by what price range you are pre approved for but also the type of financing you choose. With loans ranging from 0% down government programs to 20% conventional the properties that fit with each of these programs vary wildly.
One lender that I have had many clients choose and be very satisfied with is Sue Ryan with Union Bank. Choosing a l ...
Tuesday, October 03, 2017 / by Christine Elwood
As summer ends, we should start thinking about the cooler weather and the fact that winter is just around the corner. Start making these appointments now as the expert’s schedules will be filling up fast!
Have your Furnace Cleaned and Inspected
Schedule an appointment with a heating and cooling professional to get your heating system checked and cleaned up for the upcoming heating season. An annual maintenance contract ensures you’re at the top of the list for checks and helps so you won’t forget to make your appointment. Change your furnace filters. This is a job you should do more often anyway, but if you haven’t, now’s the time.
Examine your Roof:
Your roof is often forgotten about because it is not at eye level to give you a subtle reminder every time you walk past it. Check for any curling or missing shingles. Check the flashing around your chimney and any openings in the roof ...