Several Reasons To Purchase a Home This Winter

 It has been said that springtime is the perfect time to buy or sell a home, but is this always the case? Not necessarily, while springtime is the most popular time, winter months can work in a home buyer’s or seller’s favor. This can include having more time on your side to decide, not as much competition, and real estate agents have more time to focus on just you. Here are several reasons that this winter might be the right time to purchase a home.

1. Winter-Tested Houses

The winter brings harsh cold weather to most every area in the US. During the harsher cold weather, a home inspector can see the home’s flaws a little better. If you close on a home in the summer, you might have some surprises in store next winter. Professionals in the industry will tell you that the best time for a property inspection is during the rain and snow.

2. Motivate Sellers

Inventory is fairly low and slow in the winter. If someone puts their home on the market in the winter it usually means they are a motivated seller. If you are in the market for a new home, sellers will be more prone to accept offers and negotiate more on the price and closing costs during the slow winter months.

3. Fewer Buyers

The winter months are a great time to hibernate indoors so to speak. This means that there are fewer buyers out there during the colder months that are looking for a home to buy. You definitely will have less competition in the housing market during the winter. This means you can take your time and make sure you are not rushed into making an offer.

4. Available Realtors

Since winter is considered an “off-season” for realtors, this means that realtors have more time on their hands to devote to you and your search. A realtor will not only be able to devote more time but also support your specific home search.

5. Discounting Movers

Colder winter months are also slow for professional movers. This means that many movers might give company discounts for their services during this time. Since they will also have a lighter schedule, they will have more free time so they should be able to accommodate when you would like to move.

If you are ready to move before the spring, contact a local real estate agent who can help you with the home-buying process. A realtor can not only find you the home of your dreams but can get it at the right price and right terms.

Click Here For the Source of the Information.

Questions to Ask When Buying A Home

Buying a home is a huge deal in anyone's life. It is said to be one of the most stressful times in someone's life. Here are some questions to ask to help you make an informed decision when it comes to buying a home.

Is now the time to buy a home?

Again this is one of the most important purchases a homeowner will ever make. Determining to take the leap of homeownership, is one of the most important financial decisions to make. Make sure your finances are in order before you decide to start your home search.

Are you ready to invest in a home?

A home is a wonderful investment, however, it is a big expensive one. Assess where you are in your life, is homeownership right for you? Make sure you want to stay in the home. Selling a house right after you purchase it will cost you a good bit of money.

Do you have a target home price?

Currently, we are in a seller's market which means homes are going to have multiple bids and sell at higher asking prices. December 2021 reported the median home price in the country was up 15.1% higher than the same time last year. Before you start your search, find a number that you are comfortable with and stick with it.

Do you have enough savings?

Purchasing a home is not just paying the listing price. You need to have some savings not only set aside for any home updates or projects but also for other costs associated with purchasing a home. Here are some of the costs associated with buying a home. You will need 3-5% of the purchase price for a downpayment and money for closing costs and inspection fees.

Do you have credit concerns?

In order to obtain a mortgage, you will need a good credit score. By rule of thumb, anything under a 620 will not qualify. Anything between 620 - 740 will get you qualified but with a higher rate. Anything over a 740 will not only get you qualified but will get you the best available rates.

Do you have money allocated for unexpected costs?

Don't get caught off guard by surprise costs through the process of buying a home. Remember inspections, insurance, taxes, and utilites. The more informed you are, the better decision you will make. Contact a Realtor who knows the process from start to finish.

Click Here For the Source of the Information.

Strong October Housing Market

 Realtor.com’s Monthly Housing Trends Report said this October saw close to record levels in sales in the U.S. housing market. In fact, this October houses sold faster than September for the first time since 2011.

“In the fall, we normally see homes sell more slowly and prices pull back from peak levels. But this October, we saw a drop in the time it takes to sell a home even while home prices remain at their summer peak,” said Danielle Hale, chief economist for realtor.com.

According to Realtor.com in October homes sold in 53 days which was 13 days faster than October of last year. For home prices, the median listing price rose 12.2% year-over-year to $350,000.

The numbers for the newly listed homes by U.S. metropolitan area were very different. San Jose-Sunnyvale-Santa Clara, California had the highest new listing count year-over-year at 30.6% with a median listing price of $1,199,100.00 with 34 days on the market while Nashville-Davidson–Murfreesboro–Franklin, Tennessee had the lowest new listing count year-over-year at -27.5% with a median listing price of $400,000 with 32 days on the market. Within the country’s 50 largest metros, homes sold in a record 45 days.

As far as the nation’s regions, the Northeast had the highest gains at 11.4%, next the West had 10.1%, followed by the Midwest with 9% and the South came in last at 7.3%.

Here is a look at the number of newly listed homes by metropolitan area:

Metro	New Listing Count YoY	Median Listing Price YoY	Median Listing Price	Median Days on Market	Active Listing Count YoY
San Jose-Sunnyvale-Santa Clara, Calif.	30.6%	8.1%	$1,199,100	34	-18.5%
New York-Newark-Jersey City, N.Y.-N.J.-Pa.	28.2%	15.1%	$639,100	58	-6.1%
San Francisco-Oakland-Hayward, Calif.	25.9%	11.6%	$1,049,100	35	-4.2%
Los Angeles-Long Beach-Anaheim, Calif.	17.2%	16.9%	$995,100	49	-22.9%
Hartford-West Hartford-East Hartford, Conn.	15.9%	7.1%	$300,000	41	-31.3%
Boston-Cambridge-Newton, Mass.-N.H.	15.1%	13.9%	$669,100	33	-29.4%
Seattle-Tacoma-Bellevue, Wash.	12.5%	6.4%	$625,000	35	-31.6%
Sacramento–Roseville–Arden-Arcade, Calif.	11.3%	12.3%	$549,100	35	-48.4%
Minneapolis-St. Paul-Bloomington, Minn.-Wis.	9.9%	2.4%	$348,000	37	-30.1%
Washington-Arlington-Alexandria, DC-Va.- Md.-W. Va.	5.4%	4.6%	$502,100	36	-36.7%
Las Vegas-Henderson-Paradise, Nev.	0.4%	7.9%	$345,300	41	-7.8%
San Diego-Carlsbad, Calif.	-0.6%	11.2%	$795,100	24	-25.4%
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.	-1.2%	16.7%	$349,100	48	-41.8%
Denver-Aurora-Lakewood, Colo.	-2.0%	5.0%	$520,000	36	-44.2%
Birmingham-Hoover, Ala.	-2.4%	1.7%	$260,000	51	-36.1%
Portland-Vancouver-Hillsboro, Ore.-Wash.	-2.7%	9.1%	$510,100	49	-44.0%
Riverside-San Bernardino-Ontario, Calif.	-3.8%	14.6%	$470,100	41	-53.6%
Rochester, N.Y.	-3.9%	12.9%	$228,700	31	-43.3%
St. Louis, Mo.-Ill.	-4.4%	10.3%	$248,000	56	-38.4%
Virginia Beach-Norfolk-Newport News, Va.- N.C.	-4.9%	6.9%	$320,600	39	-46.7%
Baltimore-Columbia-Towson, Md.	-7.3%	4.6%	$340,000	43	-51.4%
Raleigh, N.C.	-7.3%	6.8%	$390,000	49	-45.4%
Milwaukee-Waukesha-West Allis, Wis.	-7.6%	3.8%	$300,000	42	-39.2%
Houston-The Woodlands-Sugar Land, Texas	-7.6%	7.8%	$334,100	52	-32.8%
Chicago-Naperville-Elgin, Ill.-Ind.-Wis.	-7.9%	9.5%	$345,000	43	-32.6%
Buffalo-Cheektowaga-Niagara Falls, N.Y.	-8.2%	7.5%	$215,000	52	-46.7%
Tampa-St. Petersburg-Clearwater, Fla.	-8.2%	10.0%	$308,000	48	-43.0%
Miami-Fort Lauderdale-West Palm Beach, Fla.	-8.8%	2.5%	$410,100	93	-15.6%
Austin-Round Rock, Texas	-9.0%	15.9%	$413,200	46	-47.7%
Orlando-Kissimmee-Sanford, Fla.	-9.2%	1.6%	$325,000	59	-20.9%
Cleveland-Elyria, Ohio	-9.3%	3.2%	$200,000	47	-48.2%
Phoenix-Mesa-Scottsdale, Ariz.	-9.3%	7.7%	$415,600	36	-41.8%
Pittsburgh, Pa.	-9.4%	N/A	$245,100	57	-36.8%
Providence-Warwick, R.I.-Mass.	-10.3%	6.1%	$400,000	42	-52.5%
Kansas City, Mo.-Kan.	-11.1%	10.1%	$330,100	47	-48.7%
New Orleans-Metairie, La.	-12.8%	15.7%	$329,100	64	-39.1%
Cincinnati, Ohio-Ky.-Ind.	-13.7%	16.3%	$310,000	39	-44.9%
Oklahoma City, Okla.	-15.4%	6.6%	$270,000	48	-40.5%
San Antonio-New Braunfels, Texas	-16.0%	3.6%	$300,000	53	-40.8%
Dallas-Fort Worth-Arlington, Texas	-16.1%	4.1%	$356,000	47	-46.8%
Louisville/Jefferson County, Ky.-Ind.	-17.4%	2.2%	$258,100	35	-50.2%
Columbus, Ohio	-17.5%	9.0%	$305,100	35	-47.8%
Atlanta-Sandy Springs-Roswell, Ga.	-18.8%	10.6%	$355,100	46	-45.5%
Indianapolis-Carmel-Anderson, Ind.	-19.8%	5.7%	$275,000	43	-47.8%
Jacksonville, Fla.	-20.4%	2.6%	$318,100	55	-45.5%
Memphis, Tenn.-Miss.-Ark.	-21.7%	14.0%	$263,800	45	-49.3%
Detroit-Warren-Dearborn, Mich	-21.7%	12.4%	$269,100	38	-47.4%
Richmond, Va.	-21.8%	11.7%	$357,000	45	-48.2%
Charlotte-Concord-Gastonia, N.C.-S.C.	-22.9%	9.0%	$365,400	43	-48.7%
Nashville-Davidson–Murfreesboro–Franklin, Tenn.	-27.5%	8.1%	$400,000	32	-43.6%

Click Here For the Source of the Information.

Tips to Follow When Doing a Final New Home Walkthrough

There are many steps to follow when purchasing a new home. One you should never skip is your final walkthrough. If you do skip this step, you might unwittingly take on large financial burdens that you had not planned for.

“It allows the buyer and their agent to check the property for any new signs of damage, inspect appliances and systems, and ensure that the home is reasonably clean and in good condition,” says Baruch Silvermann, CEO and founder of The Smart Investor, a free online academy for investors, and a real estate investor himself.

It is a good idea to always take your Realtor to the walkthrough. If there is a problem your agent can make a huge impact when addressing the problem. Take your phone to take pictures, videos and notes. Here are some additional tips you should follow during your final walkthrough.

Check the electrical system. If one switch or outlet does not work, that could be a sign of a bigger problem with the wiring. Go through your home and check the security system, doorbell and garage door as well as the outlets and light switches.

Run the AC/Heating. This should be one of the first things to check in the home. The HVAC is a very important unit and one of the most vital systems in the home.

“The big problem with heating systems is that part of the unit could be outside – the compressor, coil, electrical components, and fan – making it difficult to find the fault,” says Silvermann. “Other common problems can be related to lack of gas, corrosion, or a faulty compressor.”

Look for wet spots. Leaks can cause things such as mold and rotten wood. The repercussions can be termites and even worse foundation issues which can be expensive repairs.

“Visually look around for wet areas on the ceiling or discoloration from leaks by windows,” says Jeff Lichtenstein, owner of Echo Fine Properties in Florida.

Run anything mechanical. Go through and flush all the toilets, run the dishwasher, washing machine, dryer and all the fans (including ceiling fans and exhaust fans). It would be a disappointment to move into your home and then find out that the dishwasher is not working after you have closed.

Inspect the bathrooms. According to Remodeling Magazine, bathroom remodels retain their value at resale. It is important to check the toilets to make sure they are not running, and turn on all the faucets to make sure they work correctly.

“Check that bathrooms are free of water damage, standing water, and mold by the shower, sink, and base of the toilet,” says Silvermann, who says mold can develop within days, so it’s worth taking a close look after the inspection.

Take a look around outside. Make sure all the exterior doors and windows are properly sealed.

“Any small leak can cause the heating and air conditioning system to operate at higher power and raise the electricity bill,” says Silvermann. “And check wood and concrete around the exterior of the home for cracks and water damage.”

Following these six tips can help with the walkthrough process. Make sure to take give a copy of your inspection to the seller so the items will be corrected before closing.

Click Here For the Source of the Information.

Pending Home Sales on the Rise

Spring is not the only thing warming up this year, the National Association of Realtors (NAR) just reported that the pending home-sales rose 3.8% in March 2019 (April 2019 will be released May 30, 2019.)

“There is a pent-up demand in the market, and we should see a better performing market in the coming quarters and years,” said Lawrence Yun, NAR’s chief economist.

The Pending Home Sales Index reported its findings based on a forward-looking indicator of the contract signings which rose to 105.8 in March from 101.9 in February. Yun notes that the increase

The break down by region is contrasting. In the Northeast there has been a decline in pending sales of 1.7% in March to 90.5. In the Midwest however, pending home sales grew 2.3% to 95.3 in March. The two regions with the biggest jump in March were the South which rose to 127.2 (a 4.4% jump) and in the West to 95.1 an 8.7% rise.

So far spring is looking up for the housing market and only time will tell if the selling season will remain a hot market.
has been influenced by the influx of mortgage applications and favorable mortgage rates.


Click Here For the Source of the Information.

Lower Than Expected Mortgage Rates

Homebuyers have better than expected lower rates this Spring. For the first of the year many potential homebuyers called it quits with rising house prices, low inventory and mortgage rates above 5%.

“It was somewhat of a surprise to see the degree and intensity of the pullback,” said Robert Dietz, National Association of Home Builders. “Five percent at those pricing levels was enough to take the wind out of sails of the housing market.”

chief economist of the

The current 4.5% rate is predicted to not rise much for the remainder of the year which means several positive outcomes for the homebuying market.


To begin, there will be more buying power. Lower mortgage rates along with rising wages gives homebuyers more leverage in the current residential real estate market. Current 4.5% rates make a $200,000 30 year-fixed mortgage $71 cheaper than at 5% which means total interest savings over the life on the loan would total $21,699.

“While folks might not have hit the bottom of the rate cycle – no one can perfectly time markets – on the historic side, these are still very attractive rates,” said John Pataky, executive vice president, chief consumer and banking executive at TIAA Bank.

Sellers will want to take the gains and run. According to evidence move-up buyers are purchasing more. The average mortgage balance for purchases has reached record levels. This is also good news for homebuyers in the lower priced home market. The move-up buyers will open up inventory in lower priced homes.

“It’s a musical chairs game,said Mike Fratantoni, chief economist of the Mortgage Bankers Association. “You need someone in the higher end to move, and it works its way down the ladder, eventually opening up an entry-level home.”

Potential homebuyers cannot control the Fed or rising home prices but there are several factors they can control when it comes to determining the interest rate they will get on a mortgage. Homebuyers can reduce their rate by the amount of money they put down. The larger a down payment the lower the rate giving the homebuyer more risk than the lender. The higher your credit rating the better the rates. For example a person with a high credit score (760 – 850) would get a 4% rate while a person with a credit score of 660 to 679 would receive a 4.5% rate on a $216,000 price with a 30-year fixed-rate mortgage.

“While folks might not have hit the bottom of the rate cycle – no one can perfectly time markets – on the historic side, these are still very attractive rates,” said John Pataky, executive vice president, chief consumer and banking executive at TIAA Bank.


Click Here for source information.

Reasons to Stay in Your New Home 5 Years

Whether you are buying your first home or your 4th home, the time you spend in your home before downsizing or upgrading makes a financial difference in your investment.  Most people start out in the real estate industry when they buy their first home.  Unless they come from a very wealthy family or have won the lottery, the home is priced modestly or on the low end and is built that way as well – smaller square footage, less bedrooms and baths, in an up and coming neighborhood.  First time

home buyers can be single professionals who are successful, in a steady job, with an income that is rising each year, but most people who buy a home for the first time are couples looking to start a family. These couples eventually would like to move out and move up to provide more space for their growing family.  They are “getting their foot in the door” with their first home to establish credit and create equity opportunity to eventually sell and move up to something bigger.

The biggest question then, to ask is this – how long do you stay in your home in order to make sure you aren’t losing money and to build enough equity to become a “move-up buyer?”  The answer to this depends, but it is typically about 5 years.  Below are the reasons for this number:

1.  Closing Costs: Whether you are buying a new or previously owned home (resale) or refinancing your home, you are going to “run into” closing costs.  Closing costs is the profit for loan originators, title companies, and the state in which you live (recording fees) which are charged during the loan process.  Every company needs to make money, and closing costs are how they make theirs.  Closing costs are, most of the time, added to the principle of your home, increasing your loan amount and shrinking your home’s equity.  Each time you make a real estate transaction, you are charged these costs.  Staying in your home approximately 5 years “pays off” these closing costs enough for there to be enough equity in your home (most of the time) to have money for a down payment when you move to your next “move-up” home.

2.  Interest: Even with the historically low interest rates in the market today, the mantra in real estate still stands, “The Bank Gets Paid First.”  When you are paying your monthly loan payments, you will notice on your mortgage statement that the amount of principle being paid on your home is significantly less than the amount of interest being paid.  You can also see this on your amortization schedule during your closing.  As your loan “ages,” the amount of interest balances the amount of principle and eventually ends up being less than the amount of principle during the last years of your loan.  If you only stay in your newly purchased home for a short period of time – say 3 years – the amount of principle you “pay off” will not be enough to merit a sale and move unless you are making extra principle payments each month.  The recommended period of time to stay in your home, reduce the amount of interest charged, and pay off as much principle as you can in order to gain equity during a sale is 5 years.

3.  New Vs. Used: The type of home you buy can also make a difference in how much time you spend in it before you upgrade to something bigger and better.  If you are buying a new home, it really doesn’t make that big of a financial difference in the time you spend in the home because typically, in a new house, you don’t end up with much maintenance on the home until about 4 – 5 years in.  On a previously-owned home, resale home purchase, however, there may be a significant amount of upgrade and upkeep that you will expend when you first move into the home.  Depending on the age of the home and the last time it was renovated, big system items, such as hot water heaters, condensers, garbage disposals, ductwork, roofing, etc. could end up needing to be repaired or replaced.  If you look at the amount of money you spent on renovating the home, the amount of interest you pay on your monthly mortgage payment, and the amount of closing costs you paid during the initial purchase; you may see that it would behoove you to stay in the house for about 5 years (or more) to get the equity out of the home to pay off your financial investment.

4.  Appreciation: The “golden days” of “instant appreciation” are fewer and farther in between when it comes to purchasing your first home in an “up and coming” area.  During the real estate boom of the early 2000’s, subdivisions were seeing appreciation in their homes from the beginning and build out of Phase I to the commencement of building Phase II.  You have probably seen the prices on the signs change from Phase I to Phase II where the exact same floorplan started selling $10,000 – $20,000 higher in Phase II than it did in Phase I.  Those days of instant appreciation are very rare, so when you purchase your home in an area you expect to experience residential and commercial growth, you, as a homeowner, may have to wait a little bit longer for that long-anticipated

appreciation to come about.  Along with the other factors mentioned above, this is yet another reason to wait approximately 5 years before selling and moving to a bigger and better home.

Ron Lee Homes, a home builder in St. Tammany Parish, specializes in 2nd home (and above) move-up homes.  Whether you are looking to build a semi-custom or fully custom new home in Mandeville, Covington, Madisonville, or Abita Springs, Ron Lee Homes will work with you and provide base floorplan designs for your consideration.  Buying or building a new home can seem a little challenging, but working with the team at Ron Lee Homes will make your home buying / building experience a pleasant and satisfactory process.  To get started with the plans for the home of your dreams today, Contact Ron Lee Homes at 985-626-7619 or E-mail Info@RonLeeHomes.com.


Click Here for the Source of the Information.

Record Low Interest Rates to Increase With Fed Decision

Real estate is selling fast and prices are still competitive.  Builders and homeowners alike have taken advantage of the great rates seen after the 2008 economic crunch. These record low interest rates might soon be a thing of the past.  The Federal Reserve has decided it’s now time to rethink the rates because the economy is stronger, and more people are in a position to borrow money.  The Fed already bumped the key interest rate up by 0.25% in December 2015.

Fortunately the Fed plans to raise the rates at a slow, steady pace.  In fact, this is the first rate hike in almost ten years. Even with the slow increase, everyone will be affected. Anyone who has a credit card, savings account, invest in a 401(k), invest in the markets, or wants to make a big purchase with a loan needs to know how the rate increases will affect them.

Just because there has been a raise in the rate does not mean you should rush out and make a big purchase tomorrow.  Owning a new home is a big deal and you should research to find the right one that suits you.  Even if the rates are higher in a year, they still will be lower than historical averages.
“Rates are pretty low and they’re not going to change much in the short term,” says Dean Croushore, a University of Richmond professor and former Fed economist. Do start your research now and pay attention to the Fed’s actions.  If they do start to increase rates out of your comfort zone, it might be time to make that leap into home ownership.

Years ago many remember the advantages of putting their hard-earned cash into a savings account.  It would yield them a little bit of extra cash on top of what they had saved – imagine that!  In the past decade there has been almost zero interest earned.  With the Fed’s rate change, we will also see a higher interest income on your deposits. So a benefit to the rate increase means an increase on the money you put away in your savings account.

Not so smooth sailing for the stock markets. This Fed hike could cause major ups and downs in the stock and bond markets.  This trigger coupled with failing oil prices, China’s continued economic slowdown and decisions made by central banks around the world should be of great concern. According to MSCI Emerging Market Index, the stock market performance was down approximately 20% at the end of 2015.

With the new year comes good news for the U.S. dollar. The increase in the interest rate is predicted to make the dollar stronger. While the dollar is gaining many other global currencies are lowering.  This will have a negative impact on the global economy. U.S. companies will lose money on products sold in other countries.  Investors are already putting all of their money in U.S. investments rather than putting some money into global investments. The U.S. manufacturing sector has already shrunk due to the weak global economy.

All in all it seems to be more good news than bad for those wanting to invest or make big purchases such as a new home. “We’ve come a long way from the depths of the recession, but we’re still not quite back to where we’d like to be,” says Croushore, the former Fed economist.

Click Here for the Source of the Information.

New Home Buyers Have More Selection in New Homes

Even though the housing market has been making incredible strides in its recovery since its low in 2008, one of the major obstacles that has been holding the sale of real estate back is the lack of supply for the growing demand of home buyers.  New home buyers especially have been stymied by a lack of inventory from local builders.  Builders themselves have been frustrated by the tightened funding requirements for construction loans from banks and lenders, so there is been a “stalemate” of sorts going on in the new home industry.

However, good news is on the horizon for real estate because single-family home starts have been on the rise and holding steady over most of the months of 2015.  Single-family home starts remained steady from August to September with 740,000 starts nationwide for both months.  Overall, housing starts (including multi-family housing) increased by 6.5% and reached the 1.2 million mark – the highest its been since October, 2007.

From a yearly perspective, quarter-over-quarter, single-family home starts are up 5.7% 3rd quarter from second quarter with a total of 746,000 home starts.  The numbers year-over-year show that single-family home starts are up 11% compared to 2014.

Another strong sign of new home real estate recovering is the number of housing permits for single-family home starts.  The number of permits for single-family homes went up 9.4% year-over-year and also remained unchanged compared to the previous month of August from September, 2015. Trends also show that money of the new home purchases are coming from “contingency sales” where a home buyer has a house to sell and wants to build or buy new which is excellent news for new home builders.

Click Here for the Source of the Information.

Interest Rates Still Low for New Home Buyers

Real estate professionals have expressed concerns as to the state of the interest rate in today’s housing market because there are rumors that the interest rate is about to be raised by the Federal Reserve (The Fed).  Because of these fears, many homeowners have hurried up to refinance their homes with these historically low interest rates while home buyers have been “coming off the fence” more rapidly than normal to buy a new home.  These worries can be set aside for now as The Fed has decided not to raise interest rates during their last meeting citing a weak global economy, low inflation, and unstable financial markets.
However, there are some aspects to consider when deciding whether or not to buy a new home as soon as possible before interest rates “go back up.”  The first point is that even if interest rates do go up, they are not forecast to go up by much upon raising.  The increase in the interest rate will STILL be lower than any record of interest rate lows in the past.  This means that you will still be able to maximize the amount of money you use to buy your new home with lower interest rates.

The second aspect to consider is that the increase in the interest rate means that the U.S. economy and job market are getting better which means more and better jobs for home buyers interested in buying a home. Waiting until you have the right job and the financial ability to buy a home is a better choice than “squeaking by” to be able to buy a home at a lower interest rate with no stability in your financial future.

Finally, when The Fed does raise interest rates, this is good for investors and employees with retirement accounts because interest rates for these types of savings and money making accounts go up as The Fed raises the interest rate.

Even though The Fed’s decision is to not raise interest rates at this time, interest rates are expected to go up as soon as the end of 2015.  Whether they go up or not, now is the time to take advantage of the incredible financing offers to buy your home while interest rates are low, credit restrictions are easing, and down payment assistance has once more been established by the Department of Housing and Urban Development.

Click Here for the Source of the Information.

Newly Built Home Sales Rose 5.4% From June

Just like summer in Louisiana is hot in July, the housing market nationwide heated up this summer with new home sales activity rising to 507,000 homes sold. The Census Bureau and HUD reported that newly built home sales rose 5.4% from June and 25.8% from July of last year. New home inventories were reported at 218,000 in July which is the highest level that has been seen in over five years.
This increase was also seen in the private residential construction spending where the highest amount spent was at an annual rate of $387 billion in July. This increase in spending verifies that the construction industry is continuing to experience strong economic growth. Single family homes have pushed construction expansion 15.8% on a year-over-year basis and multifamily new home construction spending is 21.2% higher than it was reported a year ago as well.

Developers, new home builders, and custom home builders are not the only ones that are seeing a positive growth, the National Association of Realtors (NAR) reports increase in existing home sales. Existing home sales increased in July 0.5% from June and 7.4% from July of last year. Completed transactions were reported at the highest since February 2007, which was the beginning of the downhill slide of the Recession.

Home buyer confidence stems from the strengthening economy overall with increased spending. The

Bureau of Economic Analysis reports that the Gross Domestic Product (GDP) grew to a strong 3.7% rate. These findings were based on several factors including investment, faster growth for consumption, government spending and trade components.

Now is the time for buyers to tap into the housing market. Sales are solid which makes the real estate market a stable vested interest. New home prices are continuing to strengthen making real estate a great investment. Interest rates continue to remain at record lows with the reluctance of the Fed to increase interest rates. The Department of Housing and Urban Development have rolled out new loan products which require a much lower down payment on FHA and some conventional mortgages. Best of all, there is a spectacular new home builder in St. Tammany Parish which builds new, custom home exactly to your specifications and design. These new homes are designed and built to withstand the test of time and elements with energy efficient green building techniques as well as the best, most quality components to ensure the strongest and best built new home in St. Tammany Parish. For More Information, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

Click Here for the Source of the Information.