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4 reasons the Fed won't raise interest rates anytime soon

4 reasons the Fed won't raise interest rates anytime soon | Real Estate News | Scoop.it
Federal Reserve Chair Janet Yellen said early Monday that the economy and the job market are still ailing and that they will need “extraordinary” assistance from the central bank in the form of low interest rates “for some time.”
Sarah Goss's insight:

A lot of home buyers are concerned about rising home values and rising interest rates. While the economy has improved overall and home values are up, interest rates will remain at historic lows for some time. This article covers the four main reasons why we won't be seeing high interest rates in the near future. 

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7 Financial Moves You Must Make in 2014

7 Financial Moves You Must Make in 2014 | Real Estate News | Scoop.it
Don't simply resolve to make these smart money moves in the coming year — actually take action!
Sarah Goss's insight:

Buying, selling, or staying... there are always ways to get yourself in a better financial state. Here are 7 reasonable goals that anyone can set to improve his/her finances whether you're making a move, saving for a trip, changing careers, or just trying to save money. 

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Mortgage Availability Improves

Mortgage Availability Improves | Real Estate News | Scoop.it
According to a new survey from Fannie Mae, credit availability is improving. For the first time in over three years, the majority of consumers believe it's easier to get a mortgage.
Sarah Goss's insight:

More people are becoming eligible for mortgages as the rate of delinquencies goes down. This is especially true in the jumbo loans and re-financing markets, but overall that is the trend. With interest rates still relatively low, the opportunities to buy this year should be great.

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Freddie Mac to Incentivize Homes in Cold Weather States

Freddie Mac to Incentivize Homes in Cold Weather States | Real Estate News | Scoop.it
HomeSteps, the real estate sales division of Freddie Mac, announced Tuesday it is offering cash incentives...
Sarah Goss's insight:

Homes listed between now and April 15 that close before May 30 could have a cash incentive for Realtors and buyers alike in 23 states. Definitely something to look into!

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Controversial FHA payoff rule to end

Controversial FHA payoff rule to end | Real Estate News | Scoop.it

WASHINGTON — Can you be charged interest on your mortgage even after you've fully paid it off? Can the meter keep running when you owe the bank nothing — your principal balance is zero?

 

Surprise! Much to the chagrin of large numbers of home sellers and refinancers, the answer for years has been yes. If your loan was insured by the Federal Housing Administration and you paid it off before maturity, at closing you'd be expected to cough up a full month's interest, no matter what day of the month you actually settled.

Sarah Goss's insight:

Many homeowners did not realize a major stipulation when they took on their FHA loan-- to pay it off, interest will be charged through the end of the month of settlement. If you currently have an FHA loan and are looking to sell, make sure your Realtor knows. A great agent will ensure that your closing happens at the end of the month so that you are not stuck paying interest on a house you no longer own.

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Want to Sell Your Home? The Spring Selling Season May Be Coming Early This Year (TRLA, Z)

Want to Sell Your Home? The Spring Selling Season May Be Coming Early This Year (TRLA, Z) | Real Estate News | Scoop.it
The spring selling season has historically been the hottest time for home sales in the U.S. That trend remains intact for 2014. - Jay Jenkins - Financials
Sarah Goss's insight:

The combination of rising interest rates, increasing home prices, and a winter that left many inside more often than usual (with the opportunity to browse online for homes) has created a perfect storm as far as demand for housing goes. Despite the cold weather, the spring selling season is right around the corner, and you do not want to wait too long to list if you are planning to sell your home this year.

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Housing Outlook, 2014-Kiplinger

Housing Outlook, 2014-Kiplinger | Real Estate News | Scoop.it
After a surge in home values in most cities over the past year, prices will increase more slowly in 2014.
Sarah Goss's insight:

Home values have increased by an average of 10.9% since last year, which has brought numerous homeowners out from underwater. We should see greater inventory than last year overall, including an increase in new home construction. The good news for buyers is that prices are still over 30% below their 2006 peak, so homes are still in an affordable range.

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