During its post-meeting statement, the Federal Open Market Committee of the Federal Reserve announced that its target range for the Fed's key interest rate would increase one quarter percent to 2.25 to 2.50 percent. While this rate hike was not expected by the Executive branch, it met analyst expectations. FOMC said in its customary post-meeting statement that members expect to make two interest rate hikes in 2019 as compared to three rate hikes in 2018 and the Committee's original forecast of three rate hikes in 2019. Given current economic conditions, the Fed forecasted only one rate hike … [Read More...]
Last week's economic news included readings from the National Association of Home Builders, Commerce Department readings on housing starts and National Association of Realtors® report on sales of previously-owned homes. Weekly reports on mortgage rates and first-time jobless claims were also released. NAHB: Home Builders Lose Confidence as Housing Crunch Continues Homebuilder confidence fell to a 36 month low in December as homebuilder concerns over rising home prices, high mortgage rates and decreasing inventories of available homes sidelined home buyers. The NAHB Housing Market Index … [Read More...]
Your real estate agent can be the difference between a successful home buy and a bad purchase. Take a look at the characteristics of a good real estate agent and how you should vet your next partner in real estate. Patience Does the real estate agent immediately tell you to give up your rights to audit a home for a quicker sale? You may want to move on. The best real estate agents realize how big of a commitment a home is, and they are willing to walk you through the process at whatever pace you are comfortable with. Localized Knowledge There are major differences in the buying process between … [Read More...]
Choosing a neighborhood you live in is almost as important as the house you buy. The right neighborhood can make your house feel even more like a home. But how do you find the right neighborhood to shop for your next home? 1. Evaluate Your Own Lifestyle The first step in finding the right neighborhood is to figure out what you're really looking for. Do you crave a sense of community, or do you prefer not seeing any other houses when you open your front door? Knowing yourself is the key to identifying what kind of neighborhood you'll be most happy in. 2. Are There Children In The Picture? If … [Read More...]
Virtual reality, artificial intelligence and drone video are just a few of the ways that technology is changing the real estate industry. If you are in the market for a property, understanding these new processes can help you in many ways. Using Artificial Intelligence Doing business with an AI-infused process helps you more quickly identify properties that meet your standards. AI also reduces human error in the closing process. Agents using AI can get you more information about properties more quickly, and they can also cut the fat out of the close, possibly saving you money. Using Virtual … [Read More...]
You have about five minutes to impress (or not) prospective buyers at a showing. For curb appeal, you get about five seconds for buyers to decide whether they want to go inside. Here are four tips to help you get the wow factor from your home's street-facing views. Update Entryway Hardware A wall-mounted mailbox, chic house numbers and a pretty porch light add interest to your entryway. However, dated and dinged hardware impress no one. In a perfect world, all your hardware matches in style, color and finish. Of course, it should also tie-in to the style of your house. Brushed nickel house … [Read More...]