Talk to any homeowner, and they’ll probably tell you how excited they were when they first bought their home. After living there for a while, they're likely to share some unexpected experiences — both pleasant and challenging. From embracing the freedom of owning their property and building memories to facing unexpected costs and endless maintenance tasks, homeownership is full of surprises. Here are some top surprises to expect: 1. The Amount of Maintenance RequiredThe most common surprise for first-time homeowners is the amount of maintenance required. From keeping the home … [Read More...]
When you're selling your home, one crucial step in the process is the home appraisal. This evaluation plays a significant role in determining the sale price of your property. Here’s a guide to understanding home appraisals and their impact on your home sale: What is a Home Appraisal? A home appraisal is an unbiased estimate of the fair market value of your property conducted by a certified appraiser. Lenders require appraisals to ensure that the property's value is sufficient to secure the mortgage loan amount. Factors Considered in a Home Appraisal: Property Features: The appraiser … [Read More...]
The generation, born between 1981 and 1996, known as Millennials is forced to face a complex landscape influenced by economic shifts, technological advancements, and changing societal norms. Here’s a closer look at the key hurdles and the potential bright spots for millennial homebuyers. Challenges 1. Student Loan Debt Many millennials are burdened with substantial student loan debt, which affects their ability to save for a down payment and qualify for a mortgage. The average millennial carries around $33,000 in student loan debt, making homeownership seem like a distant dream for many. … [Read More...]
Buying a home is a significant investment, and ensuring the property is in good condition is crucial. There are times when asking the seller for repairs is the best course of action, but in other situations, requesting a credit may be more beneficial. Understanding when to choose each option can help you navigate the buying process more effectively. The Impact of Loan Types on Repairs Certain loan types, such as Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, require the home to meet specific condition standards. If the house doesn’t meet these standards, the loan … [Read More...]
With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re … [Read More...]
With lofty expectations, the CPI delivered a lower-than-expected inflation increase, leading to a positive uptake across many lending partners and markets. However, the PPI was on the opposite end of that, with a higher-than-expected inflation rate increase, muting the positive response from the CPI data release. The outlook for a rate cut this year has changed, making the potential for it highly likely. Even Jerome Powell, who usually has a more hawkish response regarding rate cuts, is now leaving some room for this possibility. With the outlooks in favor of a rate cut, we’re … [Read More...]
