Navy Fellas Realty Group

Real Estate, Residential sales and purchase

3 Dog Breeds That Are Perfect for the Allergy-Prone Pet Lover

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3 Dog Breeds That Are Perfect for the Allergy-Prone Pet LoverDo you find yourself itchy and sneezing after an encounter with a friendly, furry dog? You are not alone. The CDC estimates that around ten percent of Americans suffer from allergies related to dogs or cats. But, of course, that is no reason not to enjoy the love of a dog. So, if you are ready to push your suffering aside and adopt a furry pal, below are a few breeds that are perfect for those prone to allergies.

What Causes Dog-Related Allergies?

Do you know what the primary causes of pet-related allergies are? Many people believe that reactions are triggered by hair that has been shed, but this isn’t entirely accurate. Shed hair carries flakes of dead skin known as dander, and it is this dander which causes most typical dog-related allergic reactions.

In an allergy-prone individual, this dander is treated as a harmful invading virus or bacteria. The body issues an immune response with symptoms like sneezing, watery eyes, hives and coughing which can be treated with antihistamines.

Note that it is not just a dog’s dander that can cause a reaction. Dog saliva and urine are also known to carry the proteins that can trigger allergic reactions.

3 Breeds Perfect For Allergy Sufferers

The Poodle – if you are the energetic type that likes to get out and walk, a Poodle might be the right fit. Poodles are recognized as a cleaner dog as they do not shed much fur. They love to get outside and can be trained easily.

The Schnauzer – if you are more of an introvert or have a quiet side, you might find a Schnauzer to be a better companion. These are smaller dogs that aren’t going to beg you to run around for a few miles each day.

The Bichon Frise – this breed is an excellent choice for first-time dog owners and those who prefer smaller dogs. Bichon Frise are happy, friendly dogs that are very sociable. They are not incredibly high maintenance, but they do need daily grooming.

Renting A Home That Doesn’t Allow Pets?

If you are thinking about how great it would be to have a dog but can’t get one due to your current rental situation, contact us today. Our friendly real estate team is happy to introduce you to beautiful, pet-friendly home options in the local area.

What’s Ahead For Mortgage Rates This Week – December 26, 2017

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Last week’s economic reports included readings on NAHB homebuilder confidence, housing starts, building permits issued and sales of previously-owned homes. Weekly releases on mortgage rates and new jobless claims were also released.

Builder Confidence Rises, Housing Starts Increase

According to the National Association of Home Builders Housing Market Index for December, builder confidence in housing market conditions rose by four points to 74. This reading was the highest since 1999. Builder confidence increased based on strong labor markets, demand for homes and potential tax breaks resulting from proposed tax code revisions.

Housing and real estate industries continued to cite an imbalance caused by high demand for homes and few available homes for sale. Increasing production of new single-family homes is the only way to ease the discrepancy between supply and demand. Reducing demand for homes would also slow the pace of home price growth, which impacted the ability of first-time and moderate-income home buyers to purchase homes.

Commerce Department readings indicate that builder confidence aligned with housing starts in November. 1.297 million housing starts were reported as compared to expectations of 1,250 housing starts based on October’s revised reading of 1.256 million starts on a seasonally adjusted annual basis. Housing starts were 3.30 percent higher month-to-month and 12.90 percent higher year-over-year. Single-family starts were 5.30 percent higher for November. Analysts said that this indicated builder confidence in single-family home building increased.

Building permits issued in November were lower than in October, but home construction slows in the winter months. 1,298 million building permits were issued in November as compared to 1.316 million permits issued in October.

Demand Pushes Pre–Existing Home Sales in November

Sales of Previously-owned Homes rose to 5.81 million sales on a seasonally-adjusted annual basis as compared to October’s reading of 5.50 million sales of previously-owned homes. Pre-owned homes sales were 5.60 percent month-to-month and 3.80 percent higher year-over-year.

The National Association of Realtors® reported increased sales of pre-owned homes in all regions except the West, where high home prices may be topping out. The Northeast reported 6.70 percent growth in sales; the Midwestern region had the highest rate of sales with growth of 8.40 percent and the South reported 8.30 percent growth in sales of previously-owned homes. The West reported a drop of -2.30 percent in sales of pre-owned homes.

Mortgage Rates, New Jobless Claims Rise

Freddie Mac reported higher average mortgage rates last week. The rate for a 30-year fixed rate mortgage was one basis point higher at 3.94 percent; the rate for a 15-year fixed rate rose two basis points to 3.38 percent. The average rate for a 5/1 adjustable rate mortgage rose three basis points to 3.39 percent. Discount points for fixed rate mortgages averaged 0.50 percent for fixed rate loans and 0.30 percent for 5/1 adjustable rate mortgages.

First-time jobless claims were higher last week with 245,000 new claims filed as compared to last week; reading of 225,000 new jobless claims and expectations of 230,000 new claims.

What‘s Ahead

This week’s economic releases include the Case-Shiller Home Price Index, pending home sales and consumer confidence. Mortgage rates and weekly jobless claims will also be released.

3 Ways That Buying a New Construction Home Beats Buying an Existing One, Every Time

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3 Ways That Buying a New Construction Home Beats Buying an Existing One, Every TimeAre you in the market for a new house? Whether you are a first-time home buyer or are upgrading to get more space, you will need to choose between buying an existing home or building a brand new one. As you might imagine, there are pros and cons to each kind of home. But if it is in your budget, you may want to lean towards a newer home over an older one. Let’s explore three reasons why new construction homes are better than existing homes.

Customize Every Aspect To Your Tastes

Ask anyone living in a custom-built home and they are likely to tell you that the ability to customize everything was a major deciding factor. When you build a brand-new home, your input isn’t limited to the floor plan or room layout. Your family can choose everything from the paint colors to the door hinges. Imagine having your pick of appliances, cabinets, flooring, and trim in every room – that’s what new construction is all about.

Modern, Efficient And Convenient

A brand-new home means a home that is energy-efficient and built for convenience. Your home can be designed with as much advanced technology as you have in mind. Seamless Wi-Fi and other wireless connectivity for all your devices. A cutting-edge video security system to keep your family safe. Efficient heating and cooling that offers superior indoor air quality. And, of course, lower energy costs and a smaller carbon footprint.

If you are a fan of technology and the conveniences it can provide, a new construction home is a perfect choice.

Many Years of Trouble-Free Living

Another benefit of living in a new home is that everything around you far less likely to fail over the next few years. Moving into an older home means worrying about the roof, the electrical wiring, the appliances and a whole host of other potential problems. In a new construction home, you will be surrounded by brand-new machinery that is built with the future in mind. Also, even if you do run into any issues with your home or appliances, it should all be under warranty.

If you’re ready to discuss making an upgrade to a new construction home, contact us today. Our professional real estate team is happy to help.

Landlord Squeezing You for yet Another Rent Increase? It’s Time to Buy a Starter Home

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Landlord Squeezing You for yet Another Rent Increase? It's Time to Buy a Starter HomeDid you recently receive your annual notice that the rent is going up? If so, you’re not alone. Millions of renters are seeing more and more of their income drained away due to higher rents. To make matters worse, every dollar in rent is one that you are not saving, investing or using to build your net worth. If you’re feeling the pinch of higher rents, it might be time to buy your first starter home.

Comparing Rent With A Mortgage

Have you ever done the math to understand how close your monthly rent might be to a mortgage payment? Here’s a quick and easy exercise. Multiply your monthly rent by twelve, and then multiply that number by 25. For example, if your rent is $1000 per month, that is $12,000 per year and $300,000 over 25 years. So if nothing changed from today, you could afford a $300,000 mortgage.

Homes Are More Affordable Than You Think

Many first-time home buyers are convinced that they can’t afford to enter the market, but that is not the case. There are homes available that fit almost every budget or price range. In fact, it is less important to worry about the total cost and more important to worry about location, size and local amenities like schools and parks.

Remember, when you buy a house you aren’t just locking yourself into a rental contract. You are investing in a home and property have the potential to gain in value over time.

A Few Other Considerations

Of course, there are some considerations that you will need to make as you start down the path to homeownership. The first is that your mortgage is unlikely to be your only monthly expense. You will also encounter property and other taxes, utility fees and if you buy a condominium or apartment, homeowners’ association fees. You will also be responsible for maintenance and upkeep since you own the home. But that also means that you are free to customize and renovate as you see fit.

Keep in mind that it is never too late to escape the rental trap. When you’re ready to start building your future by investing in your first home, contact us. Our experienced real estate team is happy to share beautiful local home options that will suit your needs and budget.

NAHB: Builder Confidence Outstrips Pre-Bubble Highs

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Home builders surveyed by the National Association of Home Builders expressed their highest level of confidence in housing markets since 1999. The index reading for housing market conditions in December hit 74, which exceeded November’s reading of 70. Analysts expected a flat reading of 70 for December. Readings over 50 indicate improvement in housing market conditions.

The three component readings used to comprise the Housing Market Index also rose in December. Builder confidence in current market conditions rose four points for a reading of 81; builder confidence in housing market conditions over the next six months rose three points to 79. Most surprising was the jump in builder confidence in buyer traffic levels in new housing developments. Traditionally, this reading rarely exceeded 50, but in November, it achieved the benchmark reading. December’s reading for buyer traffic gained eight points to 58. December’s reading for builder confidence in buyer traffic reached its highest level since 1999.

Home Builder Confidence Reflects Strong Economic Conditions

Strength in jobs markets and overall economic conditions drove builder confidence; home builders also cited potential tax breaks associated with pending tax legislation. Tariffs on Canadian lumber were cited as an obstacle to builder profits and increased prices.

High demand for homes caused by slim supplies of homes for sale continues to boost home prices. Real estate pros have said that increasing construction of single-family homes is the only way to correct the current imbalance between rapidly increasing home prices and challenges for first-time and moderate-income home buyers who cannot compete with cash buyers or afford rapidly rising home prices.

Builder Confidence Expands in All Regions

Builder confidence also rose according to the three-month rolling average for builder confidence in the four regions tracked by NAHB. The Northeastern region reported a one-point increase for a regional reading of 54.  Home builder confidence gained six points in the Midwestern region for a reading of 69. Home builders in the South reported a confidence reading of 72, which was three points higher than in November. Builders in the Western region reported a two-point gain in confidence with a reading of 79 in December.

Going Solar: 3 Reasons Why Solar Panels Should Be Your 2018 Home Improvement Project

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Going Solar: 3 Reasons Why Solar Panels Should Be Your 2018 Home Improvement ProjectHave you been scratching your head, wondering what your next great home renovation project should be? If you are like most homeowners, you have many areas that could use a little attention. Let’s explore three reasons why installing solar panels should be high on your list of home improvement projects for 2018.

The ROI On Solar Is Getting Better

It might seem counterintuitive to think about spending money to save money, but with solar panels, that’s precisely what you are doing. Solar is an up-front investment that returns money to your bank account over time. As you are generating your own electricity, you will spend less on utilities each month. Depending on your setup, you may even be able to sell surplus electricity back to the grid, lowering your monthly bills even further.

Don’t think about solar panels and installation as sunk costs that will never be recovered. Instead, work with your solar installer to determine what your return-on-investment should be.

Solar Drives Property Values Higher

As you might expect, installing solar panels can also increase the value of your home. Many potential home buyers are searching for modern, efficient, climate-friendly homes that allow for a bit of energy independence. If your home already has these features, it is likely to be more compelling than other houses on the street without them. If you are thinking of selling your home in the future, installing solar is a great way to increase its value.

Protecting Your Local Environment And Community

Finally, let’s not forget that investing in renewable energy means protecting the health of your local community. Every solar panel installation that goes up means one less home relying on power produced by other means. It might not seem like much, but over time a single home’s worth of solar panels can prevent a significant amount of emissions from reaching the sky. You can even take things one step further and invest in an electric car which can be connected to and charged by your solar panels.

These are a few of the many good reasons to consider an investment in solar panels in 2018. If you are interested in going solar, but can’t with your current home, contact us today. Our friendly team of real estate professionals is happy to share some beautiful local home listings that are ready for solar.

What’s Ahead For Mortgage Rates This Week – December 18, 2017

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Last week’s economic reporting included readings on inflation, core inflation and the Post-meeting statement of the Fed’s Federal Open Market Committee. Fed Chair Janet Yellen also gave a press conference; weekly readings on mortgage rates and new jobless claims were also released.

Inflation Rises in November

U.S. inflation rose by 0.30 percent to 0.40 percent in November; October’s reading was 0.10 percent and November’s reading met analysts’ expectations. Core Consumer Price Index readings for November posted a gain of 0.10 percent, which fell short of the expected reading and October’s reading of 0.20 percent. Core CPI readings are less volatile as they do not include volatile food and energy sectors.

FOMC Statement: Fed Raises Target Rate

The post-meeting statement of the Federal Reserve’s Federal Open Market Committee cited strong economic signs in its decision to raise the target federal funds range by 0.25 percent to 1.25 percent to 1.50 percent. The Committee indicated that it expects inflation to hold steady in the near term and to stabilize closer to the Fed’s goal of two percent annually in the medium term.

Fed Chair Janet Yellen gave a press conference after the FOMC statement was released. She cited strong labor markets and low unemployment as signs of healthy economic conditions. The Fed’s dual mandate of achieving maximum employment and stable pricing has not been met due to lagging inflation. The Federal Reserve’s goal of 2 percent annual inflation fell short at 1.60 percent year-to-date. Job growth was strong with job growth expanding at a monthly average of 170,000 jobs over the past three months.

The Fed expects the inflation to achieve its 2 percent goal in 2019; unemployment is expected to remain at or near its current rate of 4.10 percent. This was good news as the expected exit of aging workers will increase in coming years as baby-boomers retire. Ms. Yellen affirmed her intention to aid in a smooth transition for the Federal Reserve as incoming Chair Jay Powell prepares to take over in February.

Mortgage Rates, Mixed, Weekly Jobless Claims

Fixed mortgage rates averaged one basis point lower last week with the rate for a 30-year fixed rate mortgage at 3.93 percent. The rate for a 15-year fixed rate mortgage averaged 3.36 percent’ the average rate for a 5/1 adjustable rate mortgages rose one basis point to 3.36 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages. Analysts said that lenders expected the Fed to raise rates and so factored in an increase of long term loan rates over time.

New Jobless claims dropped by 11,000 last week to 225,000. Analysts had expected 235,000 new claims based on the prior week’s reading of 236,000 new claims.

Take Your Bathroom From ‘Drab’ to ‘Fab’ With These Do-it-Yourself Bathroom Renovations

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Take Your Bathroom From 'Drab' to 'Fab' With These Do-it-Yourself Bathroom RenovationsDoes your bathroom look amazing? As one of the most used rooms in every home, the bathroom can almost always use a bit of a facelift. In today’s blog post we will share a few DIY renovations that will take your bathroom from drab to fab.

Embrace A New Color Palette

One of the best ways to start your bathroom makeover is to figure out a new color palette for the room. Do you like soft, muted colors like a powder blue, light gold or cream? Or maybe something a bit louder and more exciting like a merlot red or deep purple? Whatever your taste, a splash of color might be just what your bathroom needs.

Start with a fresh coat of paint on the bathroom walls and work outwards from there. If you have windows, consider how you want the trim to contrast with the walls. Baseboards or molding can also offer contrasting effects, helping them to stand out more.

And of course, don’t forget to take care of the smaller bathroom accessories. Your shower curtain, hand towels and even your toothbrush cup can all be matched.

Take Your Fixtures To The Next Level

Once you have decided on colors, it is time to turn your attention to the fixtures around your bathroom. The towel racks, hooks, faucets, shower head and toilet paper holder should all match in some way. If you do not have a lot of cabinet space, investing in a mirror that includes storage might be the perfect solution. If you have items like a scale or plunger in plain sight, think on some creative ways to hide them.

Brighten Things Up With Better Lighting

While you do not need ‘selfie quality’ professional lighting in your bathroom, it might be time for a brighter, more efficient light fixture. Aim for a design that complements the rest of the accents in your bathroom while being large enough to cast a bright light. You can also spend a bit of time choosing the correct color temperature for your bathroom light bulbs. LED lighting can offer some bold whites, but be careful that you don’t go overboard.

Renovating your bathroom is a fun way to spend a weekend or two improving your home. If you are thinking about buying a new home, or are ready to sell your current one, contact us. Our professional real estate team is happy to help.

Should I Sell My Home ‘As Is’ or Fix It Up? Let’s Take a Look

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Should I Sell My Home 'As Is' or Fix It Up? Let's Take a LookWhether your home is a few years or many decades old, its physical condition is going to be a significant factor in the sales process. Below are a few questions that can help you to determine whether you should sell your home ‘as is’ or fix it up before placing it up for sale.

Have You Had A Home Inspection?

A great first step before selling your home is to book an inspection by a licensed home inspector. This will provide you with a full list of minor and major issues with your home. If your only issues are small, minor ones then it is worth your time to patch them up before you sell. However, if you are facing costly repairs such as a roof replacement or foundation repair, you will have some thinking to do.

Can You Afford Renovation And Repair Costs?

Speaking of costly repairs, can you afford to invest the funds necessary to fix up your house? Depending on the inspection results, you may be on the hook for thousands of dollars in renovation costs. If you do not have the money, then you may be forced to sell as is.

Keep in mind that there are loans and other financial products designed to help homeowners like you with home renovations. Be sure to check in with your bank or mortgage lender to see if you qualify.

How Fast Do You Need To Sell?

Another question you will need to answer is: how fast do you need to get the home sold? If you are in a rush because you have to move or switch jobs, then you may need to sell the house as is. However, if time is on your side, then it might be worth waiting until your renovations or repairs are complete.

What Does Your Agent Recommend?

Finally, what course of action does your real estate agent recommend taking? If the repairs needed are minor, or the market is hot enough that buyers might overlook any issues, then your agent might suggest selling as is. Conversely, if the market is moving slowly, then it might be worth investing the time needed to fix things up.

When you are ready to sell your home, contact us and we will be happy to share our expertise and insight. We look forward to meeting you.

Make 2018 the Year You Escape the ‘Rental Trap’ by Buying Your Own Home

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Make 2018 the Year You Escape the 'Rental Trap' by Buying Your Own HomeAre you growing tired of paying rent each month and not building your net worth? Being stuck in the ‘rental trap’ isn’t much fun, but if you are determined, you can break out. Let’s explore some of the steps that you can take to make 2018 the year that you become a homeowner.

Rent Money Is Lost Money

First – why homeownership? As you may already understand, money spent on rent is ‘lost’ money. Each month you pay your rent, but you do not build any equity, own any property or get any other benefits in return. When you own a house, the money you spend each month is being invested in the home. You are building value in the home over time which you can then realize if and when you decide to sell.

Choose Your Home And Location Wisely

Do you know where in the local area you want to live? And what kind of home you want to live in? If you are a single young professional, a condo or apartment might be the perfect starter home. However, if you are married and have a family, there will be other factors such as schools and amenities to take into consideration. Invest some time in going through local real estate listings and making a short list of communities that seem like a good fit.

Polish Up That Credit Score

Ask yourself: how is your credit score looking? Is it perfectly spotless? Or do you have some past issues that need cleaning up? It is worth checking in with one of the major credit reporting agencies to find out your credit score and if there are any blemishes that need to be taken care of. You can request a free credit report once per year, so take advantage today.

Get Your Down Payment Saved Up

Finally, if buying a home in 2018 is going to be realistic, you will need to ensure that you have your down payment saved up. Although it is possible to buy a house or condo with no down payment, there are pros and cons to this approach. If you can save 10 or 20 percent of the cost of the home, it will go a long way in helping to get your mortgage approved and the sale closed.

If you are ready to break out of the rental trap and start down the path to homeownership in 2018, contact us today.