Homeownership Is a Good Financial Investment! - Family Smart Homes

Homeownership Is a Good Financial Investment!

According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 33.1%.” The report may have some people thinking about buying a home instead of signing another lease extension, but does that make sense from a financial perspective? Ralph McLaughlin, Trulia’s Chief Economist explains: “Owning a home is one of the most common …

4 Reasons to Buy This Summer! - Family Smart Homes

4 Reasons to Buy This Summer!

Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the next year. The bottom in …

Why a reverse mortgage might be a good idea for some older homeowners

Dear Liz: I recently retired to a small house I bought 30 years ago. I refinanced four times to get the rate down from 11% to 3.5%. This provided me with a low monthly mortgage (just under $450), but my current 30-year loan won’t be paid off until I’m 92. I’ll be 67 in two months, and just received… Source: …

The Impact Your Interest Rate Makes [INFOGRAPHIC]

Some Highlights: Interest rates have come a long way in the last 30 years. The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget. Interest rates are at their lowest in years… RIGHT NOW! If buying your first home, or moving up …

Redfin tries out 1% home listing fee in San Diego

Real estate website and brokerage Redfin has launched a 1 percent listing fee in San Diego that could save home sellers hundreds of dollars in commission costs. It’s not the first time the website has rolled out the feature — or the only city — but this is its first time in California. It previously… Source: LA Real Estate

House votes along party lines to repeal key Dodd-Frank financial reforms

The House voted along party lines Thursday to repeal many of the stricter regulations enacted after the 2008 financial crisis, taking the first step in a long-held Republican desire to roll back landmark rules they complain are hurting banks, restricting consumer credit and slowing economic growth. … Source: LA Real Estate

Mortgage Interest Rates Reverse Course in 2017

To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy, the question wasn’t if they would increase but instead how much they would increase. Some thought we could see rates hit 5-5.5% by …

Pacific Beach landlord to keep rent low, even after sale

It was in the 1970s when the congregation of Christ Lutheran Church began to shrink — and it wasn’t because of a lack of faith. Rent prices were driving out the church’s oldest members who lived on fixed incomes. So, church leadership decided to build an apartment building for seniors that would… Source: LA Real Estate

69% of Buyers are Wrong About Down Payment Needs For Mortgage| Family Smart Homes

69% of Buyers are Wrong About Down Payment Needs

According to a recent survey conducted by Genworth Financial Inc. at the Annual Mortgage Bankers’ Association Secondary Market Conference, mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy in today’s market. Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the home-buying process is keeping potential buyers on …