Real Estate Auctions
2 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Scooped by Tony Lester
Scoop.it!

Helpful Tips To Beat Out Cash Buyers

You’ve been searching for the perfect home for quite a while, and finally, you’ve found it! You get all of your finances in order and place an offer on the house. However, you’re not the only one that loves the home, because there are multiple offers — and one of them is cash. Cash buyers are seen as desirable because they’re almost always a guaranteed quick close. They don’t have to borrow money from a bank therefore won’t have any financing hang-ups, which is where a large portion of offers fall through. Don’t worry; not all hope is lost. Follow the steps below to beef up your offer and get your foot in the door. Less Expensive Homes If you’ve put offers in on homes at the asking price and are continually beat out by buyers that are paying more, then you might want to consider looking in a lower price range. This is an especially smart strategy for those living in fast-selling markets. By looking at less expensive homes, you can be the one that puts in an offer ove
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Home Builder Confidence Outpacing Actual Home Construction

Home builder confidence was unchanged for September according to the National Association of Home Builders/Wells Fargo Housing Market Index HMI released Tuesday. After four months of rising confidence, September’s HMI reading came in at 58, which was not far from expectations of a reading of 59. August’s reading of 58 was revised from 59. Readings over 50 indicate that more builders view housing market conditions as being positive than negative. Housing Market Index Readings Rise Components of September’s HMI include readings for home builder views of current market conditions, which maintained August’s reading of 62. The September reading for buyer foot-traffic rose to 47 from 46 in August. Builder expectations for housing market conditions within the next six months slipped from a reading of 48 in August to 45 for September. Lower expectations for market conditions within the next six months likely take into consideration the coming winter months when weather conditions slow
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

What’s Ahead For Mortgage Rates This Week of September 23, 2013

Last week’s economic news was dominated by the Federal Reserve’s decision not to taper its $85 billion in monthly securities purchases. Fed Chairman Ben Bernanke noted in a scheduled statement after the Federal Open Market Committee meeting that economic conditions were not yet adequately improved to withstand any decrease in the federal quantitative easing program. The Fed also reaffirmed that the target federal funds rate would remain at 0.00 to 0.25 percent until the national unemployment rate reached 6.50 percent and inflation reaches 2.00 percent. The national unemployment rate was 7.30 percent and the Fed projects that inflation will remain under 2.00 percent through 2015. In both the FOMC statement and his press conference, Chairman Bernanke repeatedly emphasized that the Fed would take no action to reduce QE until the economy strengthens. No automatic reduction of QE purchases would take place without full consideration of the nation’s economy. The QE program is intended
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Fed Meeting Minutes Reflect Support For Reducing QE Program

The minutes of last month’s Federal Open Market Committee (FOMC) meeting show significant support for tapering the Fed’s current amount of monthly securities purchases. These purchases, known as quantitative easing (QE), are an effort to maintain lower long-term interest rates including mortgage rates. The Fed has been buying $85 billion per month in Treasury securities and mortgage-backed securities (MBS). Ben Bernanke, chairman of the Federal Reserve and FOMC has hinted at “tapering” the Fed’s securities purchases by year-end in recent statements. The FOMC minutes released Wednesday further suggest that tapering based on strengthening economic trends is likely. FOMC Members Express Mixed Views The minutes for the last FOMC meeting, which took place on July 30 and 31, states that many members are “broadly comfortable” with tapering QE securities purchases later this year if the economy continues to improve. At the same time, many FOMC members indicated that it “isn’
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Home Builder Confidence Highest Level In Nearly 8 Years

The National Association of Home Builders (NAHB) reported Thursday that its Housing Market Index rose three points to a reading of 59 for August. Confidence among builders is likely growing in connection with stronger housing markets and high demand for homes. These conditions are being driven by short supplies of homes for sale in many markets. Builder confidence in current market conditions rose by three points to a reading of 62, while builder confidence in market conditions within the next six months rose by one point to a reading of 68. Confidence in buyer foot traffic was unchanged from July’s reading of 45. Readings above 50 indicate that more builders surveyed view housing market conditions as positive rather than negative; there was some concern that the high builders’ confidence reading could trigger the Fed to announce the tapering of its $85 billion monthly purchase of Treasury securities and mortgage-backed securities. Housing Starts Driven By Apartment Construction H
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Fed Meeting Minutes Expose Mortgage Rates As Remaining Historically Low

The Federal Open Market Committee of the Federal Reserve decided not to reduce the Fed’s current quantitative easing program of purchasing $85 billion monthly in Treasury securities and mortgage-backed securities. Going against wide expectations that the Fed would reduce the QE purchases, Fed Chairman Ben Bernanke said that current economic conditions aren’t strong enough to warrant tapering. The Federal Reserve May Reduce Monthly Securities Purchases The FOMC, which sets monetary policy for the Federal Reserve has hinted that it might soon reduce the monthly securities purchases, but has also stated that it would closely review emerging economic news and conditions as part of any decision to reduce the securities purchases under QE. Chairman Bernanke clearly indicated that the decision to reduce asset purchases would be “deliberate and dependent” on economic developments. He underscored this point by saying that benchmarks for tapering QE purchases “are not triggers, but ta
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Important Factors When Buying A New Home

Most of the time when buying a property, there are a few obvious factors that you will consider – such as the location, the number of bedrooms, the accessibility to schools or your workplace, the need for repairs and any interior features. However, there are a few things that might not have crossed your mind during your house hunting but are still quite important. Water Quality Most home buyers don’t even think about the water quality at the property until they get to the inspection stage. However, if you find out that the home has hard water this will dull your clothes when you wash them and irritate your skin. Hard water will also create calcium deposits within your showers and faucets and even inside your washing machine and dishwasher. Have the water tested so you know its quality and can look into options for a water purification system. Cell Phone Reception When looking at a house, don’t forget to pull out your cell phone and check to make sure that you get good reception.
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Preventing And Clearing Clogs In Your Home

You’re brushing your teeth and you turn on the faucet. It’s not draining and starts to back up. Here’s the dilemma; do you spit and let it sit or run to the kitchen? One thing is for sure; having a clogged drain can be a major annoyance. Clogs not only frustrate a homeowner but they can be hard on your plumbing. The added pressure they create puts stress on your pipes and can shorten their lifespan. So end the issue by following the guidelines below. You’ll learn how to prevent clogging and clear the ones you already have. No Food Down The Drain Even if you have a disposal, it’s not good for your pipes to have sticky, mushy food shoved through them. Peel vegetables and scrape plates into the trashcan. Also, avoid pouring grease down the drain. Animal fat can congeal into a solid and form a blockage. Instead, store it in a sealable container in the freezer. Once it’s full, trash it! Only TP In The Toilets All feminine hygiene products should be thrown away, because most don
more...
No comment yet.
Scooped by Tony Lester
Scoop.it!

Follow These Steps When Using Gift Funds For Your Down Payment

As lenders tighten mortgage guidelines for home buyers, minimum downpayment requirements are increasing. Several years ago, you could finance a home with nothing down. Today, most conventional mortgages require at least 5 – 10 percent. Incidentally, these guideline changes have led to an increase in the number of home buyers accepting cash gifts from family. Gifts are allowed in most cases but the problem is, if you don’t accept the gift in a “lender-friendly” way, the mortgage underwriter could reject it, and negate it. Three Steps To Success With Your Down Payment Gift Funds You can’t just deposit a cash gift into your bank account. You have to follow a series of steps and keep records. Provide an acceptable gift letter signed by all parties Provide documentation of the gifter’s withdrawal of funds via teller receipts Provide documentation of the giftee’s deposit of funds via teller receipts Lenders require these 3 steps for two basic reasons. First, they want to make
more...
No comment yet.