Last week’s economic reports included readings from the National Association of Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released. NAHB: Builder Confidence in Housing Markets Increases in July Homebuilders gained confidence in housing market conditions as home buyers sought homes in less-congested suburban areas. Builder confidence rose 14 points to an index reading of 72 in July. NAHB Chair Chuck Fowke said, “Builders are seeing strong … [Read More...]
The era of social distancing has impacted everyone and this has left people wondering how they are going to maintain control over their sanity. The positive news is that social distancing doesn’t mean that people have to stay inside at all times. There are still ways to go outside and remain socially distant. Check out a few fun activities that people can do together while still social distancing. Take A Trip To A Local State Park One of the great ideas that people should try this summer involves taking a trip to a local state park. While a lot of businesses have remained closed, there … [Read More...]
Congratulations on moving into your new house! But hold on. Now that the house is yours, there are a few things you will want to do in order to make life in your new home more comfortable and secure. Before you plan your housewarming party, here is a list of the first things you should do after you move in. 1. Change The Locks As the new homeowner, you have no way of knowing how many others have keys to your new home. The previous owner may have made copies for their housekeeper, their parents, the babysitter, a neighbor, or anyone else. You definitely don't want anyone else having keys to … [Read More...]
The purchase agreement is a vitally important document that outlines the provisions, terms and conditions for the transfer of property. It should be read carefully and any ambiguities should be clarified prior to signing. It is a legally binding contract between the buyer and seller. The purchase agreement may vary depending on the location. Most real estate agents use a form that has been approved by a state Realtors® Association. The seller may have a different version that was drawn up by an attorney. It should not be assumed that they are all the same. Typically, the purchase … [Read More...]
Size matters when you are buying a new home. Whether you plan to expand your family, need more room for your stuff, or are concerned with resale value, you want to get the most space for your money. Also, if you want to add a feel of luxury to your home, one of the best ways to do it is to create open spaces rather than cramming all your furniture in rooms so tiny you can barely walk around without knocking something over. Traditionally speaking, the larger a home is, the more it costs. If there are two newly built houses side by side in a subdivision, the bigger one is likely to cost more. … [Read More...]
Last week’s scheduled economic news included readings on consumer credit, job openings, jobless claims, and mortgage rates. Consumer Borrowing Declined at Slower Pace in May According to Federal Reserve data, consumer borrowing fell at a slower annual pace of -5.30 percent in May as compared to April’s reading of -20 percent. Non-revolving consumer credit, which includes vehicle and student loans, increased by 2.30 percent in May. The Federal Reserve does not report on real estate loans. Federal assistance programs including the first round of stimulus checks, additional … [Read More...]
