Save Tons of Money on Your Home in 2016

5 Savings for Home Owners in 2016
Making a few changes around the home can lead to big savings, and doesn't everyone resolve to save more in the new year? Here are a few ideas:

1. Energy audits: Utility companies may offer an energy audit (some for free) where experts come in to assess how a home consumes energy and identifies areas for improvement. Inspectors may perform the audit remotely or by visiting your home. It's been known to save as much as 30 percent on monthly bills. Search for an energy auditor near your ZIP code at the Residential Energy Services Network.
2. Adjust your water heater: Lower the water heater by just 10 degrees Fahrenheit, and you may be able to curb your heating costs by 3 percent to 5 percent. A cover for your water heater can also keep the heat in and save an extra 4 percent to 9 percent. 
3. Change the light bulbs: Swapping out your current bulbs for low-energy ones can help reduce lighting costs. A 60-watt bulb, which costs about $6, will save between $30 and $80 over its lifetime. With households typically having a minimum of 50 bulbs, home owners could see a potential $1,500 in savings. 
4. Wash your clothes on cold: By using less hot water for laundry, you can save about $60 per year. Dryers account for 12 percent of energy in an average household, so line-drying clothes could save an extra $200 per year. If you do use the dryer, make sure you clean your vent, which can reduce energy costs by $9 to $12 per month.
5. Get rid of cable: Cutting the cord to your landline or cable can save you $100 a month. As an alternative, a Chromecast, which streams shows from your smartphone or computer to your television, costs just $35. 

Source: RosaPace@realtor.com

Fed raises interest rates Finally!

America's first interest rate hike in nearly a decade is here.

The Federal Reserve raised its key interest rate on Wednesday from a range of 0% to 0.25% to a range of 0.25% to 0.5%.

The rate hike is a small one, but it will affect millions of Americans, including investors, home buyers and savers. Savers should eventually see a little more interest on their deposits at the bank, but big banks didn't make any increases Wednesday. Mortgage rates will gradually rise. The move was widely expected. It is a sign of how much the economy has healed since the Great Recession.

The central bank believes the U.S. economy is strong now and no longer needs crutches and that the move "marks the end of an extraordinary period" of low rates designed to boost the recovery from the Great Recession. "I feel confident about the fundamentals driving the U.S. economy, the health of U.S. households, and domestic spending," Fed chief Janet Yellen said during a press conference. "There are pressures on some sectors of the economy, particularly manufacturing, and the energy sector...but the underlying health of the U.S. economy I consider to be quite sound." Known as "liftoff," the Fed's action is expected to be the first of more rate increases that will probably come in 2016. The last rate hike was June 2006. Source: RosaPace@realtor.com

Lets-Review for Utah's Housing Market for 2015

As we approach the end of  2015, Demand, Limited Inventory Fueled Market, it’s a great time to take a look back at how the Utah housing market fared this year.

This year turned out to be another strong year for the local real estate market, especially for home sellers. The market experienced good appreciation in home sale prices in many areas, although some home values did come back to earth a bit as the year wore on. Through the first nine months of the year, Utah’s median sale price statewide was $227,500, up 6.6 percent from the same period last year, according to the Utah Association of REALTORS® (UAR®).
Salt Lake County’s median sale price year-to-date through September was $248,000, up 7.1 percent. Utah County’s median price stood at $234,900, up 6.8 percent from a year ago. Tooele County’s median price rose 10.6 percent to $188,000. And Weber County’s median price through the first nine months of this year was $169,965, up 9.5 percent from last year.

Strong buyer demand, a healthy state economy, and a relatively low inventory of homes on the market combined to help make 2015 a strong year for Utah’s real estate market. Another factor that helped bolster the housing market was a continuation of attractive mortgage interest rates, which remained near historic lows this year and continued to help make homes more affordable.

According to Freddie Mac, the average 30-year fixed rate mortgage in the U.S. as of mid-November stood at 3.98 percent. Although the Federal Reserve is considering a rate hike this month, UAR® believes that any boost in rates will be relatively small and will increase very gradually in the coming year. 
 
So if you’ve been thinking about selling your home, now may be a good time to take advantage of the current seller’s market. There just are not enough good homes on the market right now. I know you may have questions about making a move, what your home might be worth, and what’s involved in putting a home up for sale. I’m happy to walk you through the process and answer any questions you may have. Please give me a call or e-mail me today and we’ll get started. Source: RosaPace@Realtor.com

 

 

Half-Priced Homes from HUD

What to Know: Spread the word to your teacher, police officer, firefighter, and emergency medical clients: There’s a program that they can use to buy homes at half the cost.

The Department of Housing and Urban Development’s (HUD) sponsored-housing program called

Good Neighbor Next Door is a little publicized program that allows police officers, teachers, firefighters, and emergency medical technicians to purchase some homes at half the purchase price. To be eligible, the buyers must agree to live in the home for at least three years and the buyers must not have owned any other residential property within the previous year. The home prices of the HUD properties are cut in half, but buyers must be able to qualify for a loan equal to the full price of the property. Buyers can search for eligible properties in their local area at hudhomesstore.com. If multiple buyers come forward on a property, HUD will select the winner at random in a lottery, If no buyers come forward for a property, the home is then offered at full price to any buyer, as long as they agree to become an owner-occupant. The program is a “phenomenal opportunity” for first-time buyers. Also, the numbers of listings have dwindled in recent years as HUD’s stock of foreclosure properties has declined, he notes.
Source: RosaPace@Realtor.com

Black Friday Real Estate Opportunity

Thanksgiving weekend creates a fabulous opportunity for my buyers to purchase their new home at a great price. Here’s why.  

· Less Competition

· Great mortgage rates
· More choice, less hassle

I will be working for you on Black Friday and the coming weekend. I’d love to hear from you. Can you drop me a quick reply to let me know when you would like to be settled in your new home?  I wish you and your loved ones a fabulous 2015 Thanksgiving.
Happy Thanksgiving,
Rosa Pace

PRICE REDUCED

Check out the HomePath listings in Salt Lake County! $229,900

Status: Price Reduced

Single Family

MLS ID: 1335119

3 Beds | 2 Baths | 2,196 sq. ft.

 

Two Story Split Style home with stuccoi in West Jordan, brick & vinyl exterior, located in a cul de sac. Home has 3 bedrooms, 2 bathrooms, central air, 2 car garage , R.V. parking, landscaped and partially fenced. This is a Fannie Mae HomePath Property. Contact Agent

 

 

More Sales But Conditions Stay Tough

Home sales are expected to increase to 5.5 million units from 5.3 million next year, but longer-term prospects for home ownership face head winds if younger households continue to find it difficult to

buy. But it’s mainly existing home owners who are benefiting, because the growing economy and persistent shortages of for-sale housing are driving up their equity gains and making it easier for them to become move-up buyers and buyers of vacation and investment property.

For the 88-million-strong millennial generation, the oldest of which is 34 years old, the combination of high appreciation, low inventories, and continuing tight credit conditions is making home ownership a stretch few can afford. As a result, first-timers made up only 32 percent of buyers this year, down from 50 percent in 2010.

Yun predicts the relatively good economy will encourage a growing number of these young people to start households, but many of them will not be home owners. “As they’re coming out of their parents’ basement, they will be renters,” he says. Should inflation rise, short-term interest rates could rise as well, as could long-term mortgage rates, which would put another hurdle in front of younger buyers.

On the plus side, lenders are starting to loosen credit restrictions and there could be further loosening in the years ahead as lenders, credit rating agencies, and financial regulators adjust credit policies to accommodate the credit profiles of younger households. Source RosaPace@realtor.com

Mortgage Rates are Inching Up

Mortgage Rates are Inching Up
The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb

for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve.

Mortgage rates followed, with the 30-year jumping 11 basis points to 3.98 percent, the highest since July. There is only one more report before the December FOMC meeting, which will have major implications on whether we see a rate hike in 2015." Source: RosaPace@realtor.com

“Why You Should Never Buy the Best House

Home buyers are wise to take careful note of the houses around them before they make an offer on that picture-perfect home. Buying the most expensive house in the neighborhood isn’t always the best strategy. Sure, they’ll have bragging rights, but your buyers may need to be informed about some challenges during resale. After all, unloading the priciest home on the block and seeing an increase in equity isn’t easy.

“A lot of buyers forget a home is an investment,” The world changes. Things happen fast. People transfer, people lose their jobs. Now imagine yourself as the seller of that home.”
With the nicest home on the block, home owners who do any upgrades – even minor – may be doing a larger mismatch between their home and the surrounding homes. By considering the home as an investment, buyers will look at homes that leave some room for improvement and that will allow them to build equity and hopefully even pay it off when they do sell. DeSimone goes to the other extreme and actually recommends to his clients buying the worst house in the best neighborhood.
“You can add value on your own,” he says. “If you’re choosing between an awesome house in a crappy location or an awful house in a great location, I would choose the latter.”Improvement doesn’t need to entail a total renovation either. DeSimone says just regular maintenance, refreshing the paint, and making minor repairs that the previous owner ignored could add to the home’s value. On the other hand, if the home is already priced well-above the rest of the neighborhood, even minor changes in those pricey homes won’t likely make much of a difference to the value.

Why Buying the Worst House May Be Best,” DeSimone says.
“At least you can improve the interiors and make it more valuable. If that neighborhood doesn’t actually ‘up-and-come,’ your expensive home is already as viable as it can be.” Source: RosaPace@realtor.com

Our Best-in-Class Mobile Website Just Got Better!

The ZipRealty mobile website has a newly redesigned homepage and improved search functionality to provide customers with an even better real estate search experience. The Homepage has a fresh clean look, and the improved search features allow customers to more easily filter their
searches to find exactly what they’re looking for.

Here’s how:
• The smart search bar now provides auto-complete results for property addresses a...nd zip codes.

• The new “search filter panel” allows consumers to more easily narrow down their search. Rather than manually typing search criteria, users can scroll through their options to choose the one that is right for them.

New Mobile App Features: The ZipRealty Mobile App now features price per square foot information for each property. Additionally, information such as MLS#, HOA Fees, and Property Type have new placement under the “MLS Home Information” section. See More

Why Listing Your Home Over the Holidays?

Conventional wisdom may tell us that the holidays are not the best time to try to sell your
home. After all, many buyers are busy with family activities and holiday gatherings, so they put off shopping for a home until after New Year’s, right?

That may be true, but the fact is that there are still lots of potential buyers out there looking at this time of year and now may be a surprisingly good time to list your home for several reasons. Read more

Renting can be more Costly than Owning a Home

Especially in areas where rising rents are the norm.
As part of this discussion, the buyers’ assumptions that property taxes might disrupt their budget will need to be addressed. Agents might explain that while it’s true that taxes may rise, there also is a strong probability that rent will increase every year.

However, a mortgage payment won’t. For example, renters who pay $2,000 a month could get a $300,000 mortgage for 30 years at a 4 percent fixed interest rate. The monthly interest rate and principal payment would be $1,432.00. Even with insurance at $120 a month, renters would still have room for $448 a month in taxes.

If yearly taxes are $5,300 or less each year, the monthly payment for a home, which builds equity, and a rented home that does not, would be the same. Talk about Equity is understood by renters in a general sense and was cited by 45 percent of the TD Bank Renter Survey respondents as a reason to buy a home.

Rent's too darn high? Just wait

Renters May Need to Brace Themselves

Rents skyrocketed in 2014 and many analysts did not think those escalating costs would be sustainable. But they have yet to slow in 2015 – and in fact, rents have gotten higher -- and the

increases likely will continue into next year.
Annual rent growth in September was 5.2 percent – the highest since 2011, according to Axiometrics, an apartment research firm. That also marks the eighth consecutive month the rate has been 5 percent or higher. A year ago, annual rent growth was 4.1 percent.
"The eight months the rate has been above 5 percent is the longest sustained period of strength we have seen,”
"Younger, newly formed households continue to move out of their parents' or roommate living arrangements and rent an apartment, driving up the demand for more rental units," “Thirty-five percent of new home starts in 2015 have been multi-unit,” CNBC reports. “That is higher than a year ago and the highest share since 1973. Developers are simply going to where demand is highest and most lucrative.” Source: RosaPace@Realtor.com

How to Score a Deal on a Home

After School Starts
 Maybe you thought spring and summer were the prime time for buying.
as their kids finally return to classes. (And can you really blame them?) But with summer sputtering to a close, parents aren’t the only ones who should be celebrating. Would-be home buyers, rejoice! If you’re looking for a good deal on the right home, now is

Here are four ways to make it happen.
1. Stop procrastinating and get started
“There are fewer buyers looking, so there’s less competition. “No matter how hot a market is, you’ll still see price reductions and more inventory staying on the market longer from September through December.”

2. Ask for concessions, but stay flexible
After school starts, sellers are more inclined to negotiate terms to seal the deal.“I’m seeing more sellers contribute to closing costs, which appeals to buyers who might have a steady income and great credit but don’t have a lot of cash saved up. A home buyer warranty, carpet allowance, and appliance upgrades are a few things you can ask for if sellers can’t budge on price. Sellers also have a bargaining chip in negotiations: They can ask for an extended closing date, or ask to rent back their home until they find their next property,
3. Take your time
In recent years, home buyers have increasingly dealt with bidding wars, over-the-top cash offers, and low inventory. The result? If you don’t jump on a home that you kind of like, it’ll be gone.
But waiting until school’s in session means you can take your time when searching for the perfect home—and making an offer that makes sense for you.
“When the kids are back in school, they can take their time to look at homes online, go to showings, and dedicate more time to the process so they find the right home.

4. Research comps—and be ready with the right offer
In a high-demand, low-inventory market, buyers are ravenous—and willing to shell out big bucks (sometimes over asking price) to get the home they want.

Truth is, the end of summer has some distinct advantages for home buyers who aren’t tied to the academic calendar. So, with the kiddos back in school, you might be able to swoop in and score a deal. Source Rosa.Pace@Realtor.com

 

Build Your Own

Haunted House

 

Phantom gargoyles, boards that creak, eerie cobwebs, a witch's shriek - build your house from things that scare - delight with fright - make more & share!



Home Buyers Advantage?

Advantage: Low mortgage rates, declining home prices, and homes that are lingering on the market
longer are three main reasons why the next three months could be the best time to buy so far this year, says Jonathan Smoke, chief economist.
“The spring and summer home-buying seasons were especially tough on potential buyers this year with increasing prices and limited supply,” Smoke says. “Buyers who are open to a fall or winter purchase should find some relief with lower prices and less competition from other buyers.”
The biggest challenge buyers will likely face buying in the next three months is the limited number of choices. There are fewer homes for-sale this fall than last year and housing inventory has already peaked for 2015, Smoke says. In many markets, real estate is making its seasonal transition and is tilting in favor of home buyers lately.
Here are some more factors pointing to a slowdown in the overall housing market:

• Median home prices dropped 1 percent month-over-month in August (however, prices are still up 6 percent year-over-year).
• Homes are staying on the market longer: The median age of home inventory is 80 days, up nearly 7 percent from August.
• Mortgage applications dropped 6.7 percent week-to-week.

Also, buyers are locking in low mortgage rates as the Federal Reserve continues to delay raising rates. For the past 10 weeks, the 30-year fixed-rate mortgage has averaged below 4 percent, according to Freddie Mac. Source: realtor.com® (Sept. 29, 2015)

Things Fall Home Buyers Should Notice

"Buying a Home This Fall?

Despite spring being the peak home buying season, buying in the fall might actually be the

best option for house hunters. Overall there's less competition, more inventory to choose from, a better chance of getting a good deal, and the weather gives a well-rounded picture of how the house will feel throughout the year.
Here's what buyers need to pay attention to in the fall:
1. Air conditioning status: Most likely the air conditioner won't still be cranking in the fall, so it might escape buyers' minds to check it out.
2. Check the drainage: Besides taking a look at the gutters,  your buyers should also look at the drainage situation of the home.

However, just because a house looks picture-perfect to clients in the fall, it doesn't mean it's the ideal property year-round. You need to pay attention to the little details "that aren't as noticeable in the fall as they might be in the winter or summer months,"  Learn more.

Foreign Buyers Spend More on U.S. Real Estate

Here Come The Millionaires  

The United States, United Kingdom, Singapore, and Australia are experiencing an influx of millionaires, according to a report from New World Health, which in conjunction with LIO Global, completed a review of worldwide millionaire migration patterns. The report compared the principal location of about 60,000 global high-net worth individuals in 2000 with the same sample in 2014. "Millionaires" were defined as "high-net worth individuals" with net assets of $1 million or more (it excluded primary residences).

The United Kingdom had the highest number of high net worth individuals immigrating from abroad. The majority are coming from Europe, Russia, China, India, the Middle East, and Africa. More high-net worth individuals are also coming to the United States, notably from China as well as the United Kingdom, India, and Russia.

"Wealthy people in emerging markets such as China and India want their children to grow up and go to school in the U.K., U.S.A., etc.," says Andrew Amolis, head of research at New World Wealth, about the study's findings.

Also seeing more millionaires move there, Singapore is also receiving one of the highest migrations of high-net worth individuals, particularly from China, India and Indonesia, while Australia also is seeing its numbers rise from India, China, Indonesia, and the United Kingdom and South Africa.



Daily Real Estate News | Monday, August 03, 2015
Read more: Foreign Buyers Spend More on U.S. Real Estate

Expect a rate increase this Year

Takeaway from Fed meeting: Expect a rate increase this year
Expectations have grown that sometime this year, the Federal Reserve will raise interest rates from record lows. The only question seems to be when.deseretnews.com|,
Although the September meeting, when Yellen is set to hold a news conference, is seen as the most likely time for a rate increase, some analysts think the Fed might wait until December. Read more: AffordableUtahHousing

Best-Kept Secret in Rural Housing

Best-Kept Secret in Rural Housing
The U.S. Department of Agriculture Rural Housing Service's Section 502 direct loan program is a longstanding loan product that's intended to help relatively low-income households get safe and affordable financing. The agency has the flexibility to make loans to lower-income households because it makes the loans directly rather than through a lender as a guaranteed loan. The agency's director, Cathy Glower, came to the National Association of REALTORS®' offices in Washington, D.C., last week to talk about the opportunities that many rural home buyers might be missing out on because of the program's low profile, read more.

Home Prices are Rising at a Rapid Pace

Home Prices are Rising at a Rapid Pace
Existing-home sales surged 9 percent year-over-year in March and home prices were
up 8 percent over last year, according to the National Association of REALTORS®. Home prices are rising at a more rapid pace than they were just a few months ago, as demand outpaces supply. What’s more, with tight inventories plaguing many markets, the median list price in March climbed 11 percent over last year, reaching $220,000, reports. With home prices heating up again, could the housing market be heading for another bubble?  'This Is No Housing Bubble,' read more.

Cost-Effective Renovations, Keep it Simple

Cost-Effective Renovations, Keep it Simple

When it comes to remodeling, it's best to keep it simple. Small cost-effective home renovations will likely get the best return on investment, according to surveys, appraisers, and real estate professionals. According to the 2015 Cost vs. Value Report, large-scale home remodeling projects are often a gamble, and aren't likely to return their full cost. Small home improvements like upgrading to a steel door, updating the garage door, replacing wood windows, and making small updates to the kitchen will recoup nearly 100 percent of their cost. Bottom line? Simple replacements cost a lot less and provide a bigger payback, read more.

What are Stale Listing?

What are Stale Listing? 
Stale' Listings Are Finding Buyers: "A home that’s been sitting for 30 days is more likely to be overpriced, in need of renovation, or have other problems that prevent it from selling." A limited number of homes for-sale has been plaguing housing markets for months. And despite recent gains, for-sale inventories remain a big concern, particularly when you "take the quality of the inventory into account," according to a new report by the real estate brokerages. The number of both fresh and dated listings remains low, painting a bleak picture for buyers in many cities. When new buyers find out they're going to have to beat other offers on the newer stuff, they adjust and start looking for things on the market, read more.

New-Home Sales Tumble

New-Home Sales Tumble

Temporary Setback? Sales of newly built single-family homes plunged 11.4 percent in March, led by large dips in the Midwest and South, the Commerce Department reported Thursday. It was the largest drop in new home sales since July 2013 and follows three consecutive months of large gains. "After two robust months of new home sales, some readjustment is inevitable," says David Crowe, chief economist of the National Association of Home Builders.Still, "this is the best first quarter since 2008, and attractive mortgage rates and pent-up demand should keep the market moving in the right direction." Read more.

How to Finance Nontraditional Home

How to Finance Nontraditional Home
Earthship, Yurt, or Other Weird (i.e., Nontraditional) Home: (or, depending on your POV, downright weird) homes you can buy right now. 
That is, if you have cash If not, you’ll need to get the right kind of financing to step through your atypical front door. We looked at types of unusual properties to see what kind of financing challenges to expect if you’re looking to go the route of log cabins, Earthships, and extremely remote locations. That’s why seller financing can be the way to go, Richter said. Just don’t expect to get market rates or choose your loan type. Seller financers can (and will) charge higher rates, set specific terms, and require a substantial down payment to make sure you have enough skin in the game.See how Students Build $500 House

Landlords Are Raising Rents Again

Landlords Are Raising Rents Again
“In the 2015 rental season, we’re really seeing the ability to move rents,” David Singelyn, chief executive —the largest publicly-traded single-family landlord. CEOs of the largest companies renting out single-family homes say they plan to raise rents this year. Investors are switching their focus from buying properties to optimizing the revenue from the thousands of properties they bought, taking advantage of the increased demand for rental homes. “There’s a supply imbalance in some markets. See How Much.

Yes, This Housing Market Is Tight

Yes, This Housing Market Is Tight

Sales and Prices Suggest Housing is Gaining Momentum in Spring:  April's target annual sales rate for existing homes is an increase of 2.3 percent from March and 11.8 percent from April 2014.
"Among the factors contributing to the jump in March's existing home sales, pent-up demand from weak sales in January and February probably played a significant role," EVP Rick Sharga said. " Consumer psychology is likely also at play here: with talk of the Fed hiking interest rates as early as June, buyers who've been sitting on the sidelines may have decided to buy now and lock in today's historically low interest rates." Read more.

Flipping House Edges Out Renting

Flipping House Edges Out Renting
Price Jumps Leading to More Flips: More investors are flipping properties again, a trend that started last year and is building momentum across the country, according to First Quarter 2015 Real Estate Investor Activity Report. Investors lately are showing more interest in purchasing a home to flip than renting it out. In fact there was a 6.5 percent quarter-over-quarter increase in favor of flipping in the first quarter of 2015. "It seems clear that the unusually low inventory of homes for sale has led to higher home prices, which makes it challenging for investors to rent homes out at a rate that’s profitable, and still affordable for tenants, Read more.

Credit Unions Offer Tempting Mortgage Deals,

Credit Unions Offer Tempting Mortgage Deals,
Credit unions are aggressively expanding their mortgage business by more than quadrupling their share of total mortgage market volume in the last nine years, according to the National Association of Federal Credit Unions. More than half – 59 percent – of the loans it issued went to first-time buyers too. Navy Federal is available to all branches of the armed services, active and retired, civilian employees, contractors, and relatives. Other credit unions are offering similar programs too in expanding their mortgage business, Read more.

Is Mortgage Credit Easing Up

Is Mortgage Credit Easing Up 

Credit-worthy borrowers are being denied a chance at home ownership due to "unnecessary regulatory burdens" that are preventing them from qualifying for a mortgage, leaders testified Thursday before the U.S. Senate Banking, Housing and Urban Affairs Committee. "REALTORS® support strong underwriting standards to protect consumers from the risky lending practices of the past, but we are concerned that the pendulum has swung too far." In some cases, well-intentioned, but over-corrective policies are severely hampering the ability of millions of qualified buyers to purchase a home. Our members believe, that we have yet to strike the right balance between regulation and opportunity." Mortgage rates continue to hover near historical lows,Read more.

Remodel or Relocate?

Remodel or Relocate?
Should Retirees: The decision on whether to renovate or relocate in retirement can be complex and emotional. A recent report revealed that as people edge towards retirement age, the more they value the emotional connection to their home rather than the financial value.

The Merrill Lynch and Age Wave report asked 3,600 people if they planned to stay in their homes after retirement. 36 percent of those surveyed said that they would. Most respondents planned to stay put because they felt a strong connection to their home and their neighborhood, and had relatives and friends living in the area.

Reports have shown a lack of affordable housing options for baby boomers, and a lack of overall housing inventory remains a problem in many areas of the country.

First-Time Buyers May Request Up to 3%* Closing Cost

First-Time Buyers May Request Up to 3%* Closing Cost
HomePath Ready Buyer Education Program, a comprehensive online homebuyer education course. First-Time Homebuyers who complete this education course by their initial offer may request up to 3%* closing cost assistance toward the purchase of a HomePath property and reimbursement of the HomePath Ready Buyer training cost. Must be a First-Time Homebuyer (did not own a property in the past three years) and plan to reside in the property as their primary residence, eligible.

When Selling Don't Overprice Your Home

When Selling Don't Overprice Your  Home 
Your Home’s First Price Should Be Its Best Price: Home owners can get emotional about their home when it's time to sell. Here are a few mistakes sellers often make in letting emotions override logic during a transaction. A reasonable price would be based on comparable properties that are selling for and the home's appraised value. "No offers within a 30-day period means the price is too high." The longer the home lingers on a market, the more likely it will receive a deeper discount. 3 Mistakes Sellers Make.

Be a Little Bit Country to Get Your Mortgage Paid for a Year?

Be a Little Bit Country to Get Your Mortgage Paid for a Year?
Mortgage Assistance Plays with Country Music. For fans of country music, they may be able to get a mortgage payoff, at least for a year. Grammy Award-winning country trio Lady Antebellum has teamed with Quicken Loans to offer seven fans some help with their mortgage. The band is using the mortgage assistance contest to kick off its upcoming Wheels Up 2015 Tour. "You might even be able to use the money to pay extra on your mortgage and save money on interest in the long run. To apply for the band's 7FOR7 Sweepstakes, read more.

Cash Sales Rebounds From Seasonal Decline

Cash Sales Rebounds From Seasonal Decline

This will be Fannie Mae's first bulk sale: Fannie Mae announced on Wednesday that it will make available for purchase to qualified bidders a bundle of approximately 3,200 non-performing single-family residential mortgage loans totaling about $786 million in unpaid principal balance. NPLs as the GSEs push to clear deeply delinquent loans from their mortgage portfolios at the behest of their conservator, the Federal Housing Finance Agency. Still, REO sales had a small influence on overall cash sales were up from all home sales in January – marking the 25th consecutive month of year-over-year decline, read more.

In Most Places Buying Is Cheaper Than Renting

In Most Places Buying Is Cheaper Than Renting
Many renters would be better off buying a home than continuing to pay steep rental costs, finds a new study. The monthly payment on a median priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties, according to Residential Rental Property Analysis, which encompassed 461 counties nationwide with populations of at least 100,000. Overall Researchers found that fair market rents represented 28 percent of the estimated median household income, read more.

It will take a Village to Close Your Mortgage

It will take a Village to Close Your Mortgage
A Look at Mortgages In 2015, Home loan regulations will change in August: 
The separate entities involved in the mortgage process needs to work together as a “village” to make a closing happen. Instead of letting the process undermine everyone’s hard work, it needs to be reconstructed into an automated and collaborative system. The mortgage industry needs to rethink the process of closing a home loan in 2015 — on a fundamental level. And it needs to be ready to use that new process by August. It will take a village. What would that look like?

Which States Have Lowest, Highest Property Taxes

Which States Have Lowest, Highest Property Taxes
Ask the Experts: Property taxes are an extremely important issue considering their impact on all of our lives. But how should we incorporate them into our financial decision-making and how should policy makers across the country approach them as well? For answers to those questions and more, we consulted a panel of leading tax and public policy experts. Property taxes can make up a big chunk of a household's annual expenses, and it can vary considerably depending on where you live. You can check out what we asked them as well as their responses below. See where your State Property Taxes Rank.

No Private Mortgage Insurance

No Private Mortgage Insurance 
Program is know as HomeBuyer’s Choice: Navy Federal Credit Union, the world's largest credit union, announced its mortgage closings in March, its best month ever. The credit union’s offerings mostly cater to first-time home buyers and military families. For example, Navy Federal offers a conventional 100 percent financing fixed payment option with no private mortgage insurance that is known as HomeBuyer’s Choice. As Home prices are on the move this spring, as many markets inch closer to prices they haven't reached since the peak during the housing boom. "Our goal is to bring awareness and opportunity to members." Read more.

Backlog of Shadow Inventory Hitting Markets

Backlog of Shadow Inventory Hitting Markets
REO Experience Largest Increase in Three Years:The percentage of short sales and REO sales jumped by 2.2 percentage points in the first quarter of 2015, the largest increase

since the first quarter of 2012, according to data released by Monday. Three years ago, the last time distressed saturation rate experienced an increase that large, nationwide distressed saturation hit a peak of 38 percent. For Q1 2015, the distressed saturation was reported at 19.8 percent nationwide with the largest share in the South at 23.2 percent. The smallest share was in the West at 13.7 percent. All four regions – the South, the Northeast, the West, and the Midwest – saw an increase in distressed saturation rate in Q1 from the fourth quarter of 2014, Read more.

Sweet Sound of Normal Real Estate Rhythms

Sweet Sound of Normal Real Estate Rhythms

Songs That Sum Up Housing Trends Right Now: Real estate’s big generational mashup. The two biggest generations in U.S. history, baby boomers and millennials, will determine what happens in housing this year—and for the foreseeable future. Last year, millennials were already the largest share of buyers, and they are not yet buying at normal levels for 25- to 34-year-olds. Add in the boomer share, and you’re up to almost two-thirds of purchases. Let’s hope the generational mashup in real estate works out as well. Listen to Kelly Clarkson’s upbeat “Heartbeat Song” and other signers illustrate real estate returning.

Is This the Calm Before the Storm?

Is This the Calm Before the Storm?
Mortgage Rates Unchanged:Home buyers enjoyed another week of low rates as we headed deeper into the spring home-buying season. Freddie Mac reported interest rates largely unchanged from last week, even as pending home sales increased. So, while you can, please enjoy a 30-year fixed-rate mortgage at about 3.70% for the week ending April 2. Last week, rates averaged 3.69%, down from 4.41% a year ago this time. Buyers are out shopping, yet they still have very few homes to choose from in most markets. How to Win or Lose a Bidding War:

Effective Date Aug 1 ‘Know Before You Owe’

Effective Date Aug 1 ‘Know Before You Owe’ 

CFPB Launches Tool Kit : The Consumer Financial Protection Bureau debuted a new tool kit this week that sets out to turn home buyers into smarter mortgage shoppers. The tool kit is part of the CFPB’s “Know Before You Owe” mortgage initiative and allows home buyers to use the new Loan Estimate and Closing Disclosure forms, which lenders will be required to provide starting Aug. 1. The CFPB is requiring creditors to provide the tool kit to mortgage applicants when they apply for a mortgage. Did You Know: Credit Unions and Real Estate: A Perfect Pairing?

West: Pending Home Sales Rose

West: Pending Home Sales Rose

Existing-Home Sales for March: Pending home sales in February surged to the highest level since June 2013, led by significant gains in contract signings in the Midwest and West, a forward-looking indicator based on contract signings. Total existing-home sales, rose 1.2 percent to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth consecutive month. “With all indications pointing to a rate increase from the Federal Reserve this year – perhaps as early as this summer – affordability concerns could heighten as home prices and rents both continue to rise,” Read more.

Don't Ignore 7.3 Million Potential Boomerang Buyers

Don't Ignore 7.3 Million Potential Boomerang Buyers

The housing market is ignoring the largest pool of prospects: Boomerang buyers. Boomerang buyers are former home owners who lost their home to a foreclosure or short sale. After sitting out of the market for several years to rebuild their credit, these buyers may be inching back to the market looking for a second chance at home ownership. There are an estimated 7.3 million potential boomerang buyers, Blomquist says. "If we magically had 7.3 million more home owners, the home owner rate would be back to historic norms," he notes. Boomerang buyers mostly consist of Generation Xers and Baby Boomers. "They are the ones who are likely to come back and become home owners again than the millennials," read more.

Many Smart Homes Sell Faster Today

Many Smart Homes Sell Faster Today
The Technology of Tomorrow Helps: Smart home appliances and technology are becoming more common, and home buyers are increasingly choosing homes that boast the latest tech savvy features. An uncovered what smart features home buyers most desire, and how those features are impacting a home’s sale. Buyers today are more interested in homes with smart home features and technology than they were two to five years ago. Respondents say they’re seeing more buyers interested in controlling their home technology through their smart phone or tablet. Highlighting smart home technology can really pay off. One in three noted that homes with smart home features and technology tend to sell faster than homes without them, See Smart Home Features.