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DIY Home Projects: Creating a Study Space That Will Help Your Children Stay Focused

DIY Home Projects: Creating a Study Space That Will Help Your Children Stay FocusedIf you’re a parent of school-aged children, you’ve likely been concerned with their study habits at some point. Sitting down in front of the television or at the dinner table to crack open the books is going to be less efficient than doing so in a quieter, more productive work space. Let’s explore how to create a study space that will help keep your children focused and on task.

Ask The Kids What They Need To Be Productive

Before you get to work on creating a new studying space, it’s a good idea to have a chat with those will be using it most. Ask the children what kind of surroundings they feel would help to keep them productive. Younger kids may only need a small desk area but would appreciate more space in the room. Conversely, older children who are in high school are likely to need a lot of desk space for laptops, textbooks, and other studying materials. Starting the project out by asking what they need ensures that they get what they need out of the space.

Brighten Up The Room

Next, you’ll want to focus on how the room is lit. A dark room isn’t likely to be a positive studying environment. If possible, natural light sources should be used as much as possible. Studies indicate that sunlight is better at keeping individuals alert and focused than fluorescent or other types of home lighting. Also, consider adding some plants which can help to keep oxygen levels a bit higher in the room.

Note that you’ll want to avoid making the room so bright that it’s distracting. Plus, the sun can cause quite a bit of glare depending on how much outdoor exposure the room has. If there’s already a lot of natural light, consider a set of curtains that can reduce or block out any glare to allow for a more comfortable learning environment.

Eliminate Any And All Distractions

Distractions – especially those which are useful for procrastinating – are the bane of any productive space. There should be no television, no video games and no other distracting elements in the study area. The only furnishings should be those used for studying.

A study room is an excellent addition to any home with school-aged children. If you’re in the market for a new home – study spaces included – contact your local real estate professional.

Getting Tired of Renting? Here Are the Top 5 Reasons Why Young People Prefer Owning a Home

Getting Tired of Renting? Here Are the Top 5 Reasons Why Young People Prefer Owning a HomeAt some point in their lives, every renter thinks about home ownership and whether or not it’s worth it. Let’s explore the top 5 reasons why young individuals prefer the idea of owning a home over renting.

It’s All About Control

It’s unlikely to come as a surprise that having control over their living space is the number one reason that younger buyers prefer owning over renting. Living in a home owned by someone else limits your ability to customize your home. Want to expand a room or rip out the kitchen cabinets? Good luck with getting your landlord to pay for that!

Privacy And Security Are Key

More than 90 percent of millennials reported that having a sense of privacy is an important factor when choosing between buying and renting. And this makes a lot of sense, especially in areas where a landlord has the right to enter the premises on short notice. It’s tough to imagine feeling secure when a landlord can demand access to their home for whatever reason they so choose.

Your Own Space Is Just Nicer

Take a look around your home. Is it as luxurious as you’d like it to be? While you can furnish a rented apartment or house however you want, in many cases, renters just don’t put the same amount of effort into it. 81% of young renters shared that one reason they want to buy is so that they can live in a nicer place.

You’ll Be More Engaged In The Community

If you want to feel more engaged in your local community, buying a home is an excellent idea. More than 75 percent of young and first-time buyers reported that community engagement is a key reason that they want to be a home owner. Not only are you more likely to care about the area around your home if you’re responsible for its upkeep. But as the value of your home is influenced by the surrounding area, you also have a financial incentive to staying engaged in the health of your community.

Owning Gives You Flexibility

Finally, consider that owning your own home will offer flexibility that you can’t get from renting. Not only will you be able to customize your home the way you want, but you’ll also have a productive financial asset. And that can be a huge help in securing additional credit if you want to make significant investments or other financial moves.

When you’re ready to expand your freedom by purchasing your own home, contact your trusted real estate professional. We’re happy to help.

NAHB: Builder Sentiment Surges in August

Home builder confidence in housing market conditions surged in August after sagging to an eight-month low in July. The National Association of Home Builders reported a July reading of 68 in August after analysts expected a one- point increase from July’s Housing Market Index reading of 64. Any reading over 50 indicates that more builders consider housing market conditions positive than those who do not.

Component readings of the Housing Market Index also improved in August. Builder confidence in current housing market condition rose four points to 74; Builder confidence in housing market conditions over the next six months rose by five points to 78. Builder confidence in buyer traffic in new home developments rose one point to an index reading of 49.

Positive Economy Fuels Builder Confidence

Builders have long cited a shortage of buildable lots and labor, along with rising costs as impacting confidence in current and future confidence in housing markets. NAHB said that labor shortages are worse in 2017 than in 2016. Builders reported labor shortages including carpenters and electricians. August readings suggest that positive economic developments are mitigating long-term builder concerns, but a recent tariff on Canadian lumber raised materials costs for some builders.  

The discrepancy between builder confidence and housing starts concerns real estate pros and housing and lending industry leaders, but without enough workers to staff their building crews, home builders face obstacles in meeting buyer demand for homes.

Stronger economic and jobs indicators are boosting builder confidence in housing market conditions. As more prospective home buyers find stable jobs, buying a home becomes possible for prospective buyers who have waited for economic conditions to improve sufficiently to invest in home ownership.

First-Time Home Sellers: Don’t Miss These 4 Tips That Will Keep Your Sale Moving Smoothly

First-Time Home Sellers: Don't Miss These 4 Tips That Will Keep Your Sale Moving SmoothlyAre you selling your home? If it’s your first time going through a home sale, you’ve probably got a lot of questions about the process. In today’s post, we’ll share four tips that can help to keep your home sale moving along smoothly. Let’s get started!

Tip #1: Enlist The Help Of A Professional

First, you’ll want to ensure that you enlist the help of an experienced real estate agent. Selling a home is a significant financial transaction and the process can be especially daunting the first time. A professional agent with sales experience will be a major asset in having a stress-free sale. They’ll know all of the legal and other requirements to selling so you won’t be buried in paperwork. Plus, they’ll have insight into other local sales which can help with listing your home at a competitive price.

Tip #2: Focus On Your ‘Curb Appeal’

As the saying goes: you never get a second chance to make a first impression. With that in mind, you’ll want to ensure that you focus on how your home looks when a potential buyer shows up. If you feel the home could use it, a fresh coat of paint is an inexpensive upgrade that can give your home a new look and feel. Don’t forget your lawn and other landscaping, which should look well-maintained. The last thing a buyer wants to see is a nasty jungle of uncut grass or dying flowers!

Tip #3: Don’t Turn Down A Solid Offer

While you likely shouldn’t jump on the very first offer you get for your home, you also won’t want to pass up on a fair one either. It can be tough attracting a buyer, especially for larger, more expensive or luxurious houses. If your agent advises you to accept a competitive offer, it’s advice that’s well worth considering.

Tip #4: Have Your Share Of The Paperwork Ready

Last but not least, it’s worth having your share of the paperwork ready to go. There’s a lot of documentation required to complete a home sale, and being unprepared is a guaranteed way to make the closing process take longer. Spend the time gathering what you need before you accept an offer and you’ll enjoy a faster sale.

There you have it – four tips that will help to keep your home sale moving along smoothly! When you’re ready to discuss selling your home, contact your trusted real estate professional. We’re happy to share our guidance and experience to help you with your sale.

What’s Ahead For Mortgage Rates This Week – August 14, 2017

Job Openings, New Jobless Claims Rise

Job openings rose in June to 6.20 million as compared to May’s reading of 5.70 million job openings. Analysts said that increasing job vacancies show that employers are unable to find qualified workers. Business services, construction, health care and professional job sectors had the most job openings. Slow wage growth could be contributing to widespread job openings. Average wage growth has been running at approximately 2.50 percent, which is lower than the average of 3.50 to 4.00 percent typically seen during economic expansion.

First-time jobless claims rose to 244,000 as compared to expectations of 242,000 new claims and the prior week’s reading of 242,000 new jobless claims.

Mortgage Rates Lower

Freddie Mac reported lower mortgage rates last week. The average rate for a 30-year fixed rate mortgage was three basis points lower at 3.90 percent. The average rate for a 15-year fixed rate mortgage was unchanged at 3.18 percent. The average rate for a 5/1 adjustable rate mortgage was one basis point lower at 3.14 percent.

Inflation rose in July by 0.10 percent against an expected increase of 0.20 percent; June’s reading was unchanged. Core inflation, which excludes volatile food and energy sectors, rose by 0.10 percent against expectations of 0.20 percent and 0.10 percent growth in June.

What’s Ahead

This week’s scheduled economic reports include the NAHB Housing Market Index, Commerce Department readings on housing starts and building permits issued and the University of Michigan’s Consumer Sentiment Index, Weekly reports on mortgage rates and new jobless claims will also be released.

Go Big or Go Home: 3 Reasons Why Your First Home Should Be a Spacious One

Go Big or Go Home: 3 Reasons Why Your First Home Should Be a Spacious OneBuying a home for the first time? One of the key considerations you’ll need to make is just how much ‘house’ you want to buy. While going minimal might seem like a good idea to save on costs, having a smaller living space can end up cramping your lifestyle in many ways. Let’s take a look at three great reasons why your first home should be roomy, spacious and luxurious.

You Might End Up With More Family Than You Think

Have you considered whether or not you want to have a family? Whether you’re a single young professional or part of a newlywed couple, there’s always a chance you’ll end up with more kids than you think. If you’re buying a home for the long haul, you’ll want to ensure that you have enough bedrooms to contain a growing family. It’s much easier to make other use of a spare room than to invent an extra bedroom if you end up with one or two more children than you had planned. Even if you don’t have kids, you may end up welcoming other family members into your home for extended periods.

Small Spaces Limit You In Just About Every Way

As you might imagine, small living spaces will limit your options. Whether you want to build out a new media room or just want more luxurious furniture, much of the time living small means living without. Buying a larger home from the start will give you all of the space needed to build your dream home. And over time, you’re far more likely to enjoy living in a home that you can tweak and customize to suit your changing tastes.

You Can Always Monetize The Extra Space

Don’t forget that extra space can always be put to good use. If you have a finished basement, you can possibly rent the suite out to a tenant. Or, you can host guests in your extra bedrooms using apps like Airbnb. If you’re more of an entrepreneurial type, you can start a small business out of one of the spare rooms.

These are just a few of the many reasons why buying a larger home is an excellent idea. For more information about luxurious homes that are for sale in the local area, contact your trusted real estate professional today.

Thinking About a New Home? 3 Reasons Why a Mortgage Will Be the Best Money You Ever Borrow

Thinking About a New Home? 3 Reasons Why a Mortgage Will Be the Best Money You Ever BorrowIn these days of low interest rates, it can be a great idea to get into the real estate market and invest in a home. However, if you don’t have the funds saved up to buy a home outright, it may seem like more of a burden than it’s worth. The good news is that you might qualify for a mortgage loan, which tends to come with more favorable terms than a traditional bank loan. Here are three reasons why a mortgage might just be the best money you ever borrow.

Taking Advantage Of Low Interest

Interest rates have been relatively low for a number of years, which can be a definite financial boon when it comes to your monthly mortgage payment. Unfortunately, though, the predictions forecast that rates are on the rise and that means home ownership may be a more difficult dream in the coming years. If you’re interested in getting a home at a lower price with a better interest rate, it may be worth getting a short-term loan for the long-term gain.

Begin To Invest

It will certainly improve your financial outlook if you have a financial plan and a monthly budget you stick to, but few things will help your money grow like investing. Fortunately, real estate is still one of the best investments you can make in terms of helping your money grow and ensuring your future fiscal success. While stocks and mutual funds can be a bit topsy-turvy if you’re not knowledgeable about investing, real estate can be a more reliable asset that’s easier to understand.

Giving Up On Rent

When investing in a home, there are few things more rewarding than not having to pay rent anymore. Instead of effectively tossing away money each month that you’ll never see again, you will be able to see your equity grow in the home and property you purchase. Plus, this equity can be used as leverage for investment in another home. It also means that no matter the downturn in the market, you’ll have a solid investment in something.

You may not like the idea of borrowing money for your mortgage, but it can be a good fiscal choice with interest rates on the rise and the opportunity to say goodbye to rent forever. If you’re currently considering borrowing and are planning on buying a home in the near future, contact your trusted real estate professional for more information.

Yes, You Should Take the Plunge and Buy a New Home in 2017. Here’s Why

Yes, You Should Take the Plunge and Buy a New Home in 2017. Here's WhyAre you thinking about buying a house, apartment or condo? In many markets across the country, there’s never been a better time than now to become a homeowner. In this post, we’ll share a few reasons why the conditions are right to jump into the market and buy a new home.

Interest Rates Are Heading Up

If you’re like most home buyers, you’re probably looking to make use of mortgage financing to help spread out the purchase cost over a longer period of time. If so, you’ll want to make a move in 2017 so you can lock in a low interest rate. The Federal Reserve has indicated that interest rates are going to continue to rise over the next year or two. If that prediction holds true, mortgage costs will continue to grow along with rates. Buying in 2017 means that you’ll be able to secure a lower mortgage rate which in turn will save you money.

It’s A Buyer’s Market In Most Areas

Depending on the community that you’re looking to buy in, you may find that it’s a bit of a buyer’s market. There are a number of individuals looking to sell their homes to lock in the price appreciation that’s taken place during the recovery since the 2008 financial crisis. More listings on the market mean that sellers will be open to negotiation as they won’t want their home sale to take weeks or months. If you’re pre-approved for your mortgage financing and are serious about buying, you may be able to convince a seller to take a lower offer than they normally would.

You’ll Start Building Real Net Worth

Of course, one of the best parts of buying a home is that it’s a significant financial investment. Properly maintained, your home should continue to increase in value over time. As you continue to invest in upgrades and renovations, you’ll build more and more equity that can be used as leverage for additional credit or just pocketed when you eventually decide to sell. Even though every market has its ups and downs, owning real estate is a far greater path to prosperity than renting.

When you’re ready to get into the market and find your dream home, we’re here to help. Contact us today and we’ll be happy to introduce you to some beautiful new homes that suit your tastes and budget.

Finding Your Latte Factor: 3 Ways to Find the Money to Make Extra Mortgage Payments

Finding Your Latte Factor: 3 Ways to Find the Money to Make Extra Mortgage PaymentsIt’s not uncommon for a homeowner to want to pay more than the minimum monthly mortgage payment on their home. However, just because it can seem hard to come up with the funds on a monthly basis doesn’t mean it’s not possible to find the money for extra mortgage payments each year. If you’re wondering how you can pay down your mortgage debt much sooner with extra money, here are some tricks you may want to try.

Relinquish Your Refund

Many people look forward to tax time because it’s an opportunity to spend their refund on shopping, dining or a much-needed vacation. However, using your tax refund to pay down your debt can actually be a satisfying way to put more down on your mortgage and achieve something lasting from that extra bit of cash. While you may want to set some aside for an outing or a special treat, the amount remaining on your mortgage will seriously benefit from the extra payment.

Re-Tool Your Budget

If you’ve been successful at making your mortgage payments, it’s likely that you have a working budget that you stick to each month. But like any plan, a budget can change. If you haven’t done so in a while, it’s worth sitting down to re-calculate your monthly income and expenses. There’s a good chance that some expenses exist that you can pare down or get rid of entirely. While it may not make a significant difference in one month, small amounts will add up over time.

Plan A Yard Sale

It’s easy to acquire a lot of things that you don’t necessarily use, whether it’s technology or kitchenware or home decorations. Fortunately, planning a yard sale for your infrequently used items can be a great way to come up with a small fortune to pay off your mortgage sooner. Of course, you’ll need to be ready to haggle to get the prices you’re looking for. And don’t forget to get the locals involved and make it a neighborhood event for even more selling success.

It may seem nearly impossible to come up with the money to put more down on your mortgage, but using your tax refund and re-tooling your budget can easily add up to savings that make a difference! If you’re considering buying a new home in the future, contact your trusted real estate professional for more information.

Understanding Your FICO Score and Why Small Credit Mistakes Can Cause Huge Headaches

Understanding Your FICO Score and Why Small Credit Mistakes Can Cause Huge HeadachesMany people all over the world are dealing with issues involving debt or poor credit history, but most aren’t necessarily aware of what exactly makes up their credit score. Unfortunately, it might seem like it’s the big stuff that counts when it comes to credit, but little things can have a significant impact on your financial health. If you’re looking to improve your understanding and your finances, here’s what you need to know about small mistakes and your FICO score.

Making Late Payments

The due date on your bills might seem like an advisory, but whether we’re talking about a student loan, a credit card payment or your telephone bill, late payments can add up. Your payment history constitutes 35% of your total FICO score, which means that even a couple of late payments can have a marked impact on your overall credit. Instead of leaving this to chance, set aside a day each month before your bills are due to ensure they’re all paid off.

Applying For New Credit

It’s often the case that a store will offer special deals if you sign up for their own in-house credit card, but this can cost you big since the amounts you owe make up 30% of your credit score. Also, because lenders will often assume that you’ve run out of credit if you apply for a new card, applying for new credit can be a red mark against your FICO score. 

Forgetting Credit Altogether

It might seem like the best possible option for avoiding credit issues is to avoid using credit altogether, but your credit history constitutes 15% of your FICO score. This means that you should have at least one credit card in your possession so that you can use it to build a history of lending success. While you won’t want to use more than 30% of your credit limit, it’s important to show proven experience in paying back your lenders.

Many people think that bad credit is the result of overspending and huge debt amounts, but your FICO score is largely determined by your payment history and your available credit. If you’re trying to buy a home in the near future, contact your local real estate professional for more information.