With the sometimes high cost of buying and maintaining a home and the concept of being sustainable becoming more popular, many people are considering moving to a smaller home to minimize their impact. It’s important, however, to consider what living small is really like before deciding that it’s the right move for you.If you’re curious about life on a smaller-scale, here are some things to contemplate beforehand.Getting Rid Of The ExcessIt’s just a fact that a smaller amount of space means a smaller amount of stuff, but many people don’t realize this works two ways. While you won’t be able to accumulate the same amount of stuff in a smaller home, you also won’t have the luxury of being able to take everything from a larger house with you. It may not be a big deal for you to pack things ... 03/06/2019

Whether you’re finally prepared to get into the real estate market or you want to know how you can make a deal quick, there are a few necessary documents you’ll need to prove your reliability to a mortgage lender.Here are the documents you’ll want to have on hand when the time comes.Previous Tax ReturnsIn order to ensure the earnings information you’ve provided to the lender, you’ll need to have your tax returns for the two years prior to your mortgage application. In addition, you may also be required to provide your W-2s as backup documentation.Bank StatementsTo make sure you’re a solid bet who will be able to make your down payment, you’ll need to present bank statements to ensure you have a cushion in the case that interest rates increase. If you do get money gifted to you for your ... 03/05/2019

Last week’s economic news included Federal Reserve Chair Jerome Powell and weekly readings on mortgage rates and new jobless claims.Fed Faced with Public Mistrust of InstitutionsFederal Reserve Chair Jerome Powel said in a speech to a group of teachers that the Federal Reserve is paddling against a current of public mistrust of the institution. Mr. Powell assured his audience that the Fed was “working in a non-political way” to support the economy.Mr. Powell said that the Fed was working to earn public trust and said that the Central Bank must be accessible to ordinary Americans and lawmakers. In support of his remarks, Chairman Powell cited three meetings he had with lawmakers and a possible meeting at the White House.Publicity of a recent dinner with President Trump caused speculation... 02/11/2019

If you have pet, you probably wonder what you can do to keep them safe after you decide to put your home up for sale. With all the disruption going on during a home sale, it’s all too easy for pets to get lost, frightened or even injured. Learn how to keep your beloved pets safe during your home sale.Provide An Oasis During Repair WorkMost home sellers make a few repairs before allowing agents to show the home for sale. In some cases, repairs can be extensive, leading to a lot of construction materials, tools and strange new items in the home. This can be frightening for pets as they watch their once familiar setting undergo changes.Make sure your pet has someplace to get away. They should have their own oasis where everything is still the same. It may be their doghouse, a spot in the c... 02/08/2019

These days, people want energy-efficient homes that look great. To answer the call of passionate environmentalists, developer are rising to the occasion and designing home features that minimize waste, save energy and reuse reclaimed materials. The results are gorgeous, green homes that help move the sustainable living trend forward.Hidden Solar PanelsSolar panels are a great way to save energy, but not everyone loves the optics. A series of solar panels on the roof may save you money on your utilities, but it can detract from the natural shape of your home. As an alternative, innovative in-roof solar panels are installed level with the roof line.This is accomplished by designing a deeper roof so the solar panels are flush with your shingles or other roof material. Of course, this requi... 02/06/2019

The Tax Cuts and Jobs Act of 2017 instituted some of the most dramatic changes to the financial landscape in the United States in over 30 years. These adjustments to the IRS code have an effect on everyone who earns and spends money in this country.What changes can real estate investors expect to see from the new legal standards?Higher Standard Deduction, Less Itemized DeductionsBefore the reforms, single tax filers were allowed a standard deduction of $6,350. Married couples filing jointly were given $12,700. The standard deduction is the amount of income you can earn before any income taxes are applied. If a married couple made $50,000 in one year, they would only pay taxes on $37,300. With the new laws, single filers receive a $12,000 deduction and married couples get $24,000. Howeve... 02/01/2019

Home price growth continued to struggle in November, with Case-Shiller’s 20-City Home Price Index moving from October’s reading of 5.30 percent annual growth to 5.20 percent growth in November. This was the lowest reading since January 2015.Las Vegas, Nevada remained first in home price growth rate with a year-over-year home prices growth of 12 percent. Phoenix, Arizona’s year-over-year home price growth rate was 8.10 percent and Seattle, Washington held third place with a year-over-year home price growth rate of 6.30 percent.Las Vegas’ large year-over-year growth in home prices was attributed to the city’s ongoing recovery from the recession when home prices tanked in southern Nevada. Cities including Denver, Colorado, San Francisco California and Seattle, Washington saw steep declines... 01/31/2019

When used as a part of an effective real estate investment strategy, hard money loans are an excellent tool to quickly increase holdings without risking existing properties. However, these loans aren’t for everyone.What investors get the most value from hard money loans?Investors With Less-Than-Stellar CreditInvestors with credit challenges can qualify more easily for hard money loans. That’s because these loans aren’t based on the borrower. While you will have to prove a measure of creditworthiness, hard money lenders are more interested in the property you plan to buy. If you default on your payments, the lending bank simply takes possession of your property. For that reason, high-value properties in good condition fetch the best terms with hard money lenders. If you’re turned down fo... 01/30/2019

Last week’s economic news included readings on sales of previously owned homes and weekly readings on average mortgage rates and new jobless claims. A scheduled report on sales of new homes was not available due to the government shutdown.National Association of Realtors®: Sales of Pre-Owned Homes Lowest in 3 YearsSales of previously owned homes fell in December and failed to meet expectations. 4.99 million pre-owned homes were sold on a seasonally-adjusted annual basis; analysts predicted 5.10 million sales based on 5.33 million sales in November 2018. December’s reading showed the lowest number of sales since November of 2015.Sales of previously-owned homes fell 6.40 percent month-to-month and were 10.30 percent lower year-over-year. Inventories of previously-owned homes also slipped ... 01/28/2019

There are several things to do when you prepare to list your home for sale. One of the projects you’ll need to do is complete certain repairs. Your home should be in the best possible condition before your real estate agent shows it to potential buyers.While your home doesn’t need to be perfect, here is a list of repairs you should strive to get done before you open your home to showings.Front Steps And Deck IssuesThe front entrance and back deck should be in good shape for curb appeal and safety. Replace or repair wooden steps that pose a danger or feel unstable. Hammer down any nails on the deck that have popped up over the years. Reinforce loose railings and hand rails. Refinish decking that has dried, cracked or peeling paint.Sticking Or Noisy Hinges And SlidersBuyers will likely be... 01/23/2019

Last week’s economic reports included National Association of Home Builders’ Housing Market Index, the Federal Reserve’s Beige Book report and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and first-time jobless claims were also released.Commerce Department readings on housing starts and building permits issued were delayed due to the federal government shutdown, which continued and became the longest government shutdown on record.NAHB: Builder Confidence Rises Amid HeadwindsHome builder confidence rose two points in January according to the National Association of Home Builders. Builder concerns over rising construction costs and tariffs on building materials were balanced by falling mortgage rates.Builders felt pressure to create more afforda... 01/22/2019

After two months of declining builder confidence, the National Association of Home Builders Housing Market Index gained two points in January with a reading of 58. Component readings of the HMI were also higher with builder confidence in current market conditions rose two points to an index reading of 63. Builder confidence in housing market conditions over the next six months rose three points to 64.The index for buyer traffic in new housing developments rose one point to 44. While index readings above 50 indicate positive market conditions, the index reading for buyer traffic is typically lower than 50.Lower Mortgage Rates Compel Home Buyers to ActFalling mortgage rates contributed to the uptick in home builder confidence, but affordability continued to impact first-time and moderate-... 01/17/2019

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.PatienceDoes 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 KnowledgeThere are major differences in the buying process between cities. You need a real estate agent with a knowledge of local ordinances, building and zoning laws and culture. This will save you a great deal of money, believe it or not.Negotiation SkillsYou will ... 01/09/2019

Last week’s economic reports included Labor Department readings on private and public sector jobs, the national unemployment rate. Weekly readings on mortgage rates and first-time jobless claims were also released. Monthly reporting on construction spending was delayed due to the government shutdown.Public and Private-Sector Jobs Growth Exceeds ExpectationsADP reported 271private sector jobs added in December as compared to 157,000 jobs added in November. Analysts expected 182,000 jobs added for December and said that December’s reading was the highest number of jobs added in almost two years. Large companies added 54,000 jobs, medium sized companies added 129,000 jobs and small companies added 89,000 private-sector jobs.The Bureau of Labor Statistics reported 312,0000 public and privat... 01/07/2019

Home prices rose by 0.40 percent in October according to Case-Shiller’s 20-City Home Price Index and were unchanged from September’s year-over-year reading of 5.50 percent growth.Slower growth in home prices could help some would-be home buyers enter the market, but rapidly rising mortgage rates have sidelined buyers concerned with affordability and meeting strict mortgage lending requirements.High Mortgage Rates Stifle Demand for HomesOctober’s year-over-year reading for home price growth was the lowest in two years, but home price growth continued to exceed wage increases; builders continued to face labor shortages and higher materials costs. Rising mortgage rates were a major cause of lower demand for homes as the average rate for a 30-year fixed rate mortgage increased from les than... 01/02/2019

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 ContinuesHomebuilder 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 fell four points to 56.Components of the Housing Market Index reading also fell as builder confidence in current market conditions fell six points to an index reading of 61; builder confidence in new home s... 12/24/2018

Picking out a new flooring can be exciting. After all, as anyone knows, new flooring in a home or business property can completely change the entire atmosphere. A common question asked by commercial and residential property owners is “Should I go with laminate or hardwood flooring?”If you have found yourself asking this question, understand that both types of flooring materials each have their own pros and cons. For the most part, hardwood flooring tends to be more expensive than laminate but this isn’t always the case.Let’s take a quick look at the benefits and disadvantages of laminate and hardwood flooring.Pros And Cons Of Laminate FlooringMost times, laminate flooring will be about 50 percent less expensive than hardwood flooring. It has a beautiful finish and can give the appearanc... 12/20/2018

Forbes and other reputable publications have predicted a continued rise in interest rates over 2019. The initial shock of the Fed’s action caused a slowdown in real estate markets over the final part of 2018. As the shock wears off, experts are divided as to whether more expensive money will continue to translate into lower housing starts and occupancy rates for primary markets.Many experts believe that the rising 2018 interest rates have not yet baked themselves into the real estate market. They point to past instances of relatively high real estate hikes and the slower uptake into the property market the following year. Proponents of fast action uptake point to a much closer relationship between federal interest rates and the consumer real estate market.The Edge Of The Housing Afforda... 12/19/2018

Last week’s economic reports included readings on inflation and retail sales. Weekly readings on mortgage rates and new jobless claims were also released.Retail Sales Grow, Inflation Unchanged in NovemberNovember retail sales grew by 0.20 percent in November as compared to expectations of 0.10 percent and October’s reading of 1.10 percent growth. Core retail sales, which exclude automotive sales, grew by 0.20 percent and met expectations. Analysts said online stores pushed retail sales growth in November.Inflation held steady in November as expected. Inflation grew by 0.30 percent in October. Core inflation, which excludes volatile fuel and food sectors, rose by 0.20 percent, which matched October’s reading. Lower fuel prices contributed to the higher Core Price Index reading.Mortgage R... 12/17/2018

Last week’s economic reports included readings on construction spending and Labor Department readings on private and public jobs growth. The Consumer Sentiment Index was released along with weekly readings on mortgage rates and new jobless claims.Construction Spending Slows in OctoberResidential construction slowed in last month as public works projects increased. Private sector construction spending fell by -0.10 percent as compared to expected growth of 0.30 percent and last month’s negative reading of -0.10 percent.Construction spending for October was $1.309 billion on a seasonally adjusted annual basis as compared to September’s revised reading of $1.311 billion. Overall construction spending was 4.90 percent year-over-year.Homebuilders continued to be wary of tariffs on building m... 12/10/2018