16 Sep 2019
By Kevin Gahagan

What’s Ahead For Mortgage Rates This Week – September 16th, 2019

Financial Reports

What’s Ahead For Mortgage Rates This Week – September 16th, 2019Last week’s economic news included readings on inflation, core inflation and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.

Lower Gas Prices Dampen August Inflation Rate

Consumer prices fell in August; analysts attributed the decline to lower gasoline prices. August’s reading matched expectations, but was 0.20 percent lower than July’s reading. The Core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.30 percent and matched July’s reading.

Analysts expected an August core inflation reading of 0.20 percent. Rising housing and healthcare costs indicated that overall inflation would rise in coming months. Core inflation rose to its highest level in 13 months and was 2.40 percent higher year-over-year.

Mortgage Rates, Rise; New Jobless Claims Fall

Freddie Mac reported higher mortgage rates last week. Rates for 30-year fixed rate mortgages averaged 3.56 percent and were two basis points higher than in the prior week. Rates for 15-year fixed rate mortgages averaged 3.09 percent and were nine basis points higher on average.

Rates for 5/1 adjustable rate rose six  basis points to an average rate of 3.36 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages.

New jobless claims fell last week with 204,000 first-time claims filed. Analysts expected 213,000 new claims filed based on the prior week’s reading of 219,000 initial claims.

The University of Michigan reported a jump in consumer sentiment in September;  August readings fell due to consumer concerns over the impact of tariffs on imported goods. September’s consumer sentiment index reading rose to 92.00 as compared to August’s index reading of 89.80.

Analysts predicted a September index reading of 91.40. Analysts said that while confidence in general economic conditions rose, consumers continued to be worried about the effects of tariffs.

What’s Ahead

This week’s scheduled economic news includes the National Association of Home Builders Housing Market Index, Commerce Department readings on housing starts and building permits issued and a statement by the Fed’s Federal Open Market Committee statement.

Fed Chair Jerome Powell will also give a press conference. Sales of pre-owned homes will be reported along with weekly readings on mortgage rates and new jobless claims.

13 Sep 2019
By Kevin Gahagan

4 Simple Tips For Staying Organized With Kids

Real Estate

4 Simple Tips For Staying Organized With KidsIt can be challenging to be organized when you have children. But this is only because, as a devoted parent, you want to be sure your child has everything they need to become happy, well-rounded adults some day.

This usually means you’ll be bringing your kids to extracurricular activities, play dates, fun events and family outings. It also typically means that over the years there will be a steady stream of school supplies, toys, new clothes and maybe even a musical instrument or two. So how can busy parents stay organized with kids? 

Share A Calendar

Depending on how you prefer to organize your days, consider sharing a digital or paper calendar with the entire family. Family members can add events as needed and everyone can access the latest updates. This way, no one gets caught off guard when the dinosaur diorama is due on Monday morning or your child’s ballet recital gets moved from Friday to Saturday afternoon.

Don’t Be Too Detailed

Toys and art supplies have a way of ending up on the living room floor no matter how many tidy storage bins are in your child’s room. Try keeping a large wicker laundry basket in the corner of the living room and let your child pile their things randomly inside the basket. This allows for fast cleanups and doesn’t require you to supervise the “organization.” It also lets smaller kids feel like they’re being a big kid by helping to straighten up.

Store Papers In Accordion Files

Keep accordion folders on hand in the kitchen for when your child comes home with artwork or papers with A grades. Have one accordion file for each month, because they will fill up fast. At the end of each month, go through and filter out anything you don’t want to save permanently. With this method you’ll automatically have your child’s best papers saved according to date.

Do Things On The Same Day

It’s surprisingly helpful to make a practice of always doing certain things on certain days. For instance, every Saturday is bath night, or every Wednesday is change the sheets day. This lets kids know what to expect in their lives and makes it easier for parents to remember things. 

Children add so much joy to parents’ lives. When you’re organized, you’ll probably find that you have even more time to share with your little loved ones.

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional to discuss current financing options.

 

 

 

 

12 Sep 2019
By Kevin Gahagan

How Long Should I Spend Looking For a New Home?

Real Estate

How Long Should I Spend Looking For a New HomeWhether you’ve been looking for a home for a long time now, or you’re just about to get started on the hunt, you’re probably wondering how long should you spend looking for a new home. Does it take weeks to find your forever home, or months or even a year? What’s typical?

There Is No Typical

The reality is, there is no typical amount of time it takes to find your home. There are too many variables, including how actively you’re looking. Maybe you’ve heard horror stories of people who’ve been hunting for a house for a year. But come to find out, they’ve only really devoted one weekend a month to looking at houses.

Or you’ve heard of a couple who found their dream home in just two days. Well, odds are they spent many nights online, sifting through hundreds of house images and only went to see a handful of homes in person which really met their search criteria.

The Market Plays A Part

It takes longer to find a home when the market is slanted toward sellers. In times like that, there’s less inventory and the houses that are available may be out of reach financially. Keep looking, though, because your real estate agent may find the ideal house on the market from a motivated seller who’s wiling to come down on the price. Hang in there and you’ll find your dream home in any market.

Does Your Dream Home Exist?

If you feel like your home search has been dragging on despite a favorable market, it could be you’re looking for something too elusive to find. Maybe it’s not the houses you’re dissatisfied with, but something else. You may be unconsciously trying to recapture something you’ve lost, like your old childhood neighborhood or a feeling of community.

These are all valid desires that you can acquire with the right home in the right place. Try to identify what you’re really looking for so your real estate agent can help you find it. 

When it comes to finding your home, it takes as long as it takes. Be sure to secure your pre-approved financing with your trusted home mortgage professional and enjoy the process. Communicate with your real estate agent and try to keep an open mind. One day, when you least expect it, you’ll walk through the doors of your next home for the first time. 

11 Sep 2019
By Kevin Gahagan

Smooth Move: Do These Six Things When Transitioning Towns

Real Estate

Smooth Move Do These Six Things When Transitioning TownsIt can be physically and emotionally challenging when moving from one town to another. There are lots of things going on at once; the actual packing and moving your belongings, saying goodbye to friends, changing jobs and just getting used to a new way of living.

It can be stressful, but it doesn’t have to be. Try these six tips for a smooth transition.

1. Let Go

Try to look forward instead of back. You will certainly want to remember all the wonderful moments you’ve had in your “old” town, but give yourself permission to be excited about your new place to live. Leave the past in the past while still treasuring the times you shared with friends and loved one. This will enable you to fully open yourself to new possibilities.

2. Learn Your Way Around

Do some exploring in your new town. If possible, stroll or bicycle around to acclimate yourself to your new surroundings. If it’s too far away and you haven’t yet moved, use Google Earth’s street view to wander around virtually. Locate the places you’ll definitely need, like the post office, coffee shop and dry cleaners. 

3. Join Local Groups

Do a search for Facebook groups in your new town and ask to join. You’ll get a sense of the community and get better tuned into what resources are available and what people are talking about. Try searching Meetup groups in the new town for activities in which you’re interested.

4. Plant Roots

Make your new house a home by planting some pretty perennials out front or creating a vegetable garden out back. When you literally plant roots, you’ll feel more like you really belong.

5. Get Involved

It’s hard sometimes to make new friends as adults, especially out of work. But if you make an effort to get involved in the community, you’ll likely find that people are eager to get to know you. Keep your eyes and ears open for ways to join in with community events.

6. Fling Open The Doors

Say yes to life. You’re in a new town, and this is the perfect time to start new projects, try new things and meet new people. Try doing something new at least once a week. You just might find a new favorite activity or a new friend.

These six tips for transitioning to a new town will help you begin your new life with a positive outlook. Remember, there’s no time like the present to start the future!

One of your best assets to navigate the properties in a new town is an experienced real estate professional. Be sure to make contact with your wish list before you start your search.

If you are in the market for a new home or interested in refinancing your current property, be sure to consult with your trusted home mortgage professional to discuss current financing options.

 

10 Sep 2019
By Kevin Gahagan

Using Smart Home Technology To Help Sell It

Real Estate

Using Smart Home Technology To Help Sell ItSmart home technology is useful for many reasons. It improves security, helps improve energy-efficiency, and makes it more convenient for the home’s occupants. There is also a new trend in the use of smart home technology as a sales tool to help sell a home or a condominium.

A real-estate agency in Atlanta, Georgia is using Alexa® devices, along with nicely-framed display cards, to help prospective buyers learn more about a condominium that is for sale in the Districts Lofts building.

There are now more than 53 million personal assistant devices, such as the Alexa® device from Amazon and the Google Assistant®, which are in use. Many people are very comfortable using them to ask questions and get the answers spoken back to them in a calm, soothing voice.

Alexa® Tell Me More

The innovative trend in home sales is to place an Alexa® device in each room, preprogrammed with the answers to frequently asked questions. Display cards that sit on the counter next to the Alexa® device encourage the potential buyer to says things like “Alexa, tell me about the kitchen.” or “Alexa, what are the amenities in the neighborhood?”

These systems work with chatbot technology that uses artificial-intelligence, voice-recognition programming to understand the questions and provide the answers from a stored database of information. Also, if the chatbot cannot answer the question, the Alexa® device can connect the potential buyer to a live human operator to answer the question.

Friendly, Effective, And Cost-Efficient

Using the Alexa® device and similar devices can be less intimidating for many people than having to speak with a human salesperson. These devices can deliver the answers in a professional and consistent way.

Not needing to have a human being waiting around for a potential customer saves an enormous amount of labor expense and time. Moreover, the Alexa® device can be always available for extended hours to show a model unit when it is convenient for potential customers.

Conclusion

Using Alexa® devices to better inform potential buyers is interesting. The devices can be preprogrammed with all the information needed and can also collect customer information, which the customers voluntarily give, for follow-up purposes.

After Alexa® answers all a potential buyer’s questions, it can then ask them if they would like a brochure emailed to their email address to build up a mailing list for the real estate agency. This kind of personalized customer service, using advanced technology, is the wave of the future for real estate sales.

Of course, technology can only go so far. Your professional real estate agent and mortgage lender are the best resource for making a decision on which home is the right one for you and helping you negotiate your best deal.