Welcome to Janet & Graham Ford - Tulsa Real Estate Sign in | Help

March Home Prices Continue to Rise


According to FNC’s Residential Price Index™ (RPI), U.S. home prices continued to rise at a brisk pace in March and up 0.9 percent nationwide.

March’s increase follows a strong momentum in February that recorded some of the largest unseasonable gains in many of the nation’s key housing markets. With continued low interest rates and easing credits, particularly recently launched low-down-payment conventional loans by Fannie Mae and Freddie, home prices are positioned for strong gains. This spring/summer home buying season already appears well under way across the West, South, and Midwest regions.

The latest development in the for-sale market shows the pace of home sales has picked up rapidly since March. The median time-on-market is down from 128 days in March to 106 days in April, the fastest seasonal pace for the month of April since the housing market began to recover in early 2012. The average asking-price discount is 3.3 percent, down from 4.2 percent in March.

Completed foreclosures in March comprise about 13.7 percent of total existing home sales, down by two percentage points from February’s 15.8 percent.

FNC’s RPI is the mortgage industry’s first hedonic price index built on a comprehensive database that blends public records of residential sales prices with real-time appraisals of property and neighborhood attributes. As a gauge of underlying home values, the RPI excludes final sales of REO and foreclosed homes, which are frequently sold with large price discounts, likely reflecting poor property conditions.

The attached table shows seasonally unadjusted month-over-month (MOM) and year-over-year (YOY) changes in three composite indices. The national index is based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest metropolitan areas. Both the national and 30-MSA composite indices were up at a seasonally unadjusted rate of 0.9 percent. After a relatively steep gain in February, the 10-MSA composite moderated slightly during the month and was up 0.6 percent. Quarterly performance across the indices was dragged lower by a weak January, registering a small gain of about a half percentage point. Average home price appreciation ticked up slightly but remained in the 4.5-5.0 percent range nationwide.

The attached chart tabulates the latest MOM and YOY price trends for each MSA in the FNC 30-MSA composite index. Home prices are up in all MSAs except San Antonio, Baltimore, and New York. Of the 27 up-markets, 21 cities recorded more than a 1 percent MOM increase in March, led by Tampa, Nashville and Chicago at 3.4 percent, 3.2 percent, and 2.8 percent, respectively. For Chicago, Portland, Riverside, CA and Sacramento, March marks a second consecutive month of strong price momentum. Other cities that appear off to a strong start of the spring home buying season include Atlanta, Cincinnati, Dallas and Minneapolis.

While most of the nation’s housing markets have gained momentum, New York, San Antonio and Baltimore continue to show weakening prices as of March, down 1.6 percent, 0.3 percent, and 0.5 percent, respectively. Baltimore’s foreclosure sales have climbed rapidly in recent months, largely contributing to its continued price weakness. Foreclosure sales in New York also appear to be at three-year highs.

As of March, the fastest YOY growth markets are Las Vegas (13.1 percent), Riverside (12.0 percent), and Dallas (10.1 percent), which are followed by a number of other cities that also continue to enjoy robust appreciation: Los Angeles (9.6 percent), San Diego (9.4 percent), Orlando (9.4 percent), Miami (9.3 percent), Portland (9.2 percent), and Atlanta (8.7 percent).

Source: FNCInc.com

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

7 Best Paint Colors for a More Soothing Bedroom

By Barbara Pronin


According to a Sherwin-Williams survey, three out of four consumers say their bedroom needs painting – but they want to be sure they choose a wall color that soothes and promotes more restful sleep.

The paint company suggests that a black painted ceiling in a room with soft beige walls encourages a good night’s sleep. They also provide tips for seven other color choices most likely to accommodate rest:

Soft Gray
– It’s not as neutral as most people think, but it pairs beautifully with accents of driftwood or metal, and a gray shade with undertones of violet is quite soothing when accented with metallic colors.

Pale Pink or Coral
– Too much pink can give your bedroom a Barbie’s Dreamhouse look, but soft pastels in either of these soft, warm hues reflect light and pair beautifully – and restfully – with white or gray accents.

Deep Forest Green
– Works best in a room with lots of natural daylight or in north-facing rooms with filtered light. Pairs well with light wood furniture and brightly colored bedding.

Burnt Brick Red –
Keep it a deep, warm shade for a pop of color that is elegant, flattering to skin tones, and surprisingly restful at night.

Dusty Aqua
– This coastal shade favorite is both masculine and feminine, bringing the essence of nature indoors and creating a spa-like feel in the bedroom.

Light Cocoa Brown
– A down-to-earth brown with a gray tint can make for an intimate, enveloping space. Add cream accents for an especially calm, serene feeling.

Light Harvest Gold
– The wrong gold can be too energetic for a bedroom, but if you choose a gold color a couple of shades lighter than you think you want, you will find it both restful and sleep-inducing.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

The Road to Recovery: 4 Factors That Affect Home Prices

By Suzanne De Vita


With housing on a steady path to recovery, home prices have risen approximately 20 percent in the last three years, according to the Federal Housing Finance Agency (FHFA) and Standard & Poor’s (S&P) Case-Shiller house price indices – and both consumers and industry professionals expect that upward trajectory to continue this year.

The anticipated increase is the result of intersecting economic indicators – macro-level factors painting the big picture that is today’s housing market.

So what’s impacting prices these days?

Wages and Inflation - As much as the economy’s improved, a recent RealtyTrac analysis illustrates disconnect between house price growth and wage growth. Between 2012 and 2014, home prices increased by 17 percent; wages, in contrast, increased 1.3 percent – a 13 to 1 disparity. Furthermore, home prices continue to outpace inflation rates, growing twice as fast in 2014, according to S&P.

But inflation rates as they stand likely affect home prices indirectly, argues renowned economist and Nobel Laureate Robert Shiller. Because pay increases often boost perceptions of buying power, inflation may have a greater impact on consumer confidence, which, in turn, could ignite housing activity.

Interest Rates and Inventory - Inflation rates, however, do tend to influence interest rates. While it’s reasonable to assume rising mortgage interest rates equal falling house prices, in truth, there’s little evidence of a causal relationship between the two. In fact, higher mortgage rates have a tendency to predicate a decrease in purchases, rather than a dip in prices, concludes Mark Palim, Fannie Mae Vice President, Economic & Strategic Research Group.

That said, interest rates do play a role in overall affordability. In many markets, today’s rates have significantly propelled demand.

“The biggest factor in price gains has been the current low interest rates spurring demand,” says Gabe Sanders of a real estate firm in Stuart, Fla. “And our low inventory, which makes buyers willing to spend more, since they can’t find enough available lower-priced properties.”

In Sanders’ market, prices on the lower end have risen much more than those of mid-range homes, with the largest gains seen under $400,000 in Martin County and under $200,000 to $250,000 in St. Lucie County. This demonstrates what many nationwide are experiencing – escalating prices, due to a shortage of affordable listings, have adversely tipped the scale, especially for first-time homebuyers.

To counter the lack of inventory and rise in prices, new construction gains are essential, says Lawrence Yun, chief economist for the National Association of REALTORS®. Post-crash, single-family construction has been slow to pick up steam, primarily because of construction costs that fail to meet buyer expectations.

Demographics - In addition, generational shifts have historically affected demand and moved prices in the housing market. Currently making waves are baby boomers and millennials, though many of the latter have been priced out due to statistically lower incomes and sluggish wage growth. And like toppling dominos, too few first-timers bodes ill for move-up buyers or those seeking to relocate.

International interest can also drive home prices, particularly in luxury markets. In Beverly Hills, Calif., global demand, coupled with the area’s high-end status and pleasant climate, impacts prices considerably, says Endre Barath, Jr. of a California brokerage.

“Prices in the 90210 zip code are trending upward and are getting close to an all-time high,” Barath says. “Looking at the current rate of sales versus the current inventory, we are still in a seller’s market, but getting close to a balanced market.”

Oil Prices – Another distinct market trend could also affect home prices in the near future. Following the decline in oil prices, markets with oil economies, such as Texas, Louisiana and Oklahoma, may see home prices drop at the end of this year and into 2016, Trulia reports. Conversely, non-oil-producing markets, particularly in the Northeast and Midwest, may see a boost in prices. These findings mirror oil and home price fluctuations since the 1980s.

While there are many more variables factoring into the equation, house prices remain subject to these predominant large-scale influencers. I put it to our readers – where do you think prices are headed?

This post was originally published on RISMedia's blog, Housecall. Check the blog daily for winning real estate tips and trends for you and your clients.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

1433507_58
Custom Built 1 Owner Home

• 4,338 sq. ft., 3 bath, 4 bdrm 1 3/4 story - MLS $445,000

 -  Beautiful 5 car custom built 1 owner exceptionally loaded home! Glorious windows throughout fitted with plantation shutters. Superb hardwoods, granite counter J bar in kitchen with plentiful cabinets and separate pantry. Bright oversized dining and living rooms with high ceilings. 1st floor mother-in-law suite with built in safe room and private bath, currently in use as an office. Wet bar. Large 1st floor master suite with oversized 2 person whirlpool bath. Sound surround inside and outside. This is a wonderful floor plan. Perfect rear yard with in-ground swimming pool overlooked by an exquisite gazebo with waterfall and pond. 5 car garage plus ample additional parking and a circle drive all on nearly an acre (0.97 acres). Just fabulous!

Property information

When It Comes to Housing, Hope Springs Eternal


Housing numbers are looking hopeful for the spring season, according to Clear Capital's recently released Home Data Index™ (HDI) Market Report with data through April 2015.

“While spring brings renewed confidence and demand, the numbers through April are mixed,” says Alex Villacorta, Ph.D., vice president of research and analytics at Clear Capital. “Sales may be up, but subsiding gains imply the recovery is at a critical inflection point. As the market normalizes—a good thing for housing overall—small losses could have greater impact, forcing a standstill or even worse, a return to negative territory in certain areas across the country.”

April marks the sixth consecutive month of softening quarterly appreciation for the nation. While single-digit and percentage point gains can rally consumers, the overall health and recovery of the market is far from a sure thing. National home prices through April 2015 are up 5.1 percent year-over-year, while the quarterly rate of growth continued its path to normalization coming in at 0.5 percent. Suggestions that the market continues to recover at the clip we saw in 2012-2013 is misleading.

While early predictions called for gains in the Midwest, the region remains volatile. Most of the regions sustained price growth through the winter, while the Midwest is already seeing negative quarterly declines of -0.10 percent. For nearly seven years, it has struggled to get on equal footing with the nation. Still in the wake of the worst housing crash in modern history, the Midwest’s regional legacy has made gains all the more difficult to hang on to.

“Confidence is down in April, suggesting consumers aren’t quite convinced that the economy, much less housing, is as rosy as some early spring metrics suggest,” says Villacorta. “Yet, we continue to see blooms of opportunity as distressed properties continue to provide fertile ground for investors of all sizes to take advantage of a red hot rental market. As we saw back in early 2013, this type of inventory can be the catalyst that revives confidence and re-engagement.”

Within the top performing markets for April, eight are Western markets. While the West’s market-by-market performance may exceed the other regions, gains have been softening since the beginning of 2014—hence softening gains at the national level.

Three Florida markets that rank among the top performers boast high levels of distressed saturation (REO and short sales). All three markets have distressed saturation rates that are at least 10 percentage points higher than the national level, at 16.5 percent, suggesting growth is dependent on a higher propensity of distressed inventory in this area.

REOs are now part of the consumer lexicon. In this recovery, the stigma once associated with REOs (poor condition, buyer beware) has turned around. Today, REOs and short sales signal opportunity to investors and traditional homebuyers alike, and an indication that market-level gains could be ahead. The Jacksonville, FL MSA’s overall market performance, including low and distressed sales, shows quarterly growth of 1 percent and yearly growth of 6.8 percent. This is nearly double that of the MSA’s fair market performance at .5 percent quarterly growth and 3.7 percent yearly growth—more evidence that Jacksonville’s performance relies on distressed opportunities.

San Francisco MSA behavior offers more grounds for continued moderation across the country. The MSA is posting quarterly growth of 0.8 percent and yearly growth of 8.6 percent. While at first blush, this sounds pretty healthy for winter, a steady decline in quarterly performance over the past two years is on track with historical appreciation rates for the MSA.

“While gains and subsiding losses in the here-and-now are both good signs of a normalizing market, making sense of the numbers to reveal underlying trends is key for all market participants,” Villacorta notes. “Bottom line, the early spring numbers are encouraging but rest assured, the overall market is far from being ‘back to normal’. There is reason to be hopeful, but arm yourself with accurate data and remember to read headline numbers with the right perspective.”

For more information, visit ClearCapital.com.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

To Sell or Not to Sell? 5 Signs it's Time to List Your Home

By Maria Patterson


If you’re like me, thoughts of putting your home on the market and moving up, down or out of dodge all together periodically float through your mind. These days, there’s extra incentive given the inventory shortage in most regions of the country—some areas are even experiencing bidding wars.

“After back-to-back years of a robust housing recovery, we are continuing to experience another year of a shortage of inventory of homes for sale,” reports Phil McBride, COO of a successful Northwest real estate firm. “With a large backlog of homebuyers, multiple offers on new listings are the norm. We are seeing approximately 90 percent of sales activity in the market areas and price ranges where we are experiencing the shortage/low inventory, which is sending prices upward.”

National statistics bear this out. According to the National Association of REALTORS®, total existing-home sales increased 6.1 percent in March—the highest annual rate since September 2013—however, the housing supply has only experienced a modest increase, just 2 percent above a year ago. Long to short—it’s a seller’s market.

Still, choosing to sell is a big decision—a decision that requires the careful weighing of a variety of factors, both lifestyle and financial. To help sort things out, here are five telling signs that now just might be the time to finally put your home on the market.

1. You’ve outgrown your space—really. This is usually the number-one reason that gets me thinking about moving up to a bigger home. I get anxious trying to find sleep spaces for overnight guests or frustrated by my overcrowded closet. But truly needing more space is about more than that. Do you have kids outgrowing shared bedrooms? An in-law moving in? A new virtual work opportunity that requires a home office? These are the life events that really necessitate a bigger home—not the inability to curb one’s shoe-buying habit.

2. Your neighborhood is booming. While home sales and values are improving at a healthy yet gradual rate on a national level, you may find yourself smack-dab in the middle of a hot market. Pay attention to those “Recently Sold” postcards in your mailbox and talk to those neighbors plunking down For Sale signs in their yards. Contact your local real estate professional and check out comparable sales. If homes are selling above listing price and you’ve been on the fence about selling for a while, now might be a wise time to take the leap.

3. You’re letting things go. Remember when home improvement projects and landscaping chores were fun? When you’d spend hours happily painting, planting and hammering away? Well, if that’s a distant memory and your grass is knee-high and the porch railing’s rotting, this may be a sign that you’re ready to move onto a maintenance-free way of life. Realize that the more you let things go around the house, the more money you’ll have to invest to get it ready for market or worse, you’ll have to drop the price to get it sold. So honestly evaluate if it’s time for a home that offers a simpler, less work-intensive option.

4. Your equity is back. Many of us didn’t even consider selling for many years based on the fact that our equity evaporated during the housing crash. But don’t stay stuck in that mindset. The fact is, increasing numbers of homeowners are returning to positive equity. According to Corelogic’s Third Quarter 2014 Equity Report, 94 percent of homes priced at $200,000 and above have positive equity. So do some research and have your home reappraised. You may find that your equity is back and that selling is an option again.

5. Your life has changed. An important life change can trump all other reasons to sell your home. Growing or shrinking families, a new job with a new, long commute, retirement, divorce, etc., are cause to seriously consider moving on to a home that makes more sense for life as you now know it. Ultimately, a happy home is one that’s in sync with your current phase of life. Make sure you find the right fit.

View this original post on RISMedia's blog, Housecall. Check the blog daily for real estate tips and trends for you and your clients.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

Americans Agree: Real Estate Best Long-Term Investment

By Suzanne De Vita


Signaling growing confidence in the housing recovery, a majority of Americans once again named real estate the best long-term investment – a trend now continued for two consecutive years, according to a recently released Gallup poll.

Real estate edged out long-term investment options like stocks/mutual funds, gold, savings accounts/CDs and bonds, with 31 percent of Americans favoring housing for long-term gains. Twenty-five percent of Americans named stocks/mutual funds as the best investment long-term. Gold dropped from frontrunner in 2011 and 2012 to third, while savings accounts/CDs fell to 15 percent. Bonds dipped to just six percent.

The findings represent a significant change in consumer sentiment akin to the ongoing recovery. Notably, more Americans preferred savings accounts/CDs in 2012, as financial security remained critical for many in the wake of the crash.

Moreover, all major gender, age and income groups topped or tied the preference for real estate, coinciding with a number of recent initiatives set to increase opportunities for a diverse range of would-be buyers. These include the Fannie- and Freddie-backed three percent down payment program and the reassessment of credit strictures that have historically prevented borrowers from obtaining a mortgage.



Between July 2002 and April 2007, preferences for real estate fluctuated with the market, peaking at 50 percent during the boom and sinking to 37 percent as the economy nosedived. Preferences for real estate continued to fall through 2008 and 2009.

The Gallup poll was conducted April 9-12, 2015 from a random sample of 1,015 adults aged 18 and older living in all 50 U.S. states and the District of Columbia. For a complete look at responses, questions and trends, click here.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First" 

a59c9386-c4df-4de5-9db2-d7ae700c3210
Backs to Greenbelt

• 2,818 sq. ft., 2 bath, 4 bdrm 1 3/4 story - MLS $235,000

 -  Attractive home with lovely private un-overlooked lot.Large formal dining room, high ceilings and nice hardwoods. Bright & light. 1st floor office makes a great 2nd living room on. Spacious master suite with door to rear yard and has a huge master bathroom & walk in closet. Large game room plus well sized bedrooms 2 - 4.

Property information

Spring into the Homebuying Season with These Home Improvement Projects

By Keith Loria


No matter where you live, the spring season is associated with cleaning and change. From saying goodbye to the old and hello to the new, the season also offers the perfect opportunity for sellers to take care of projects they’ve been putting off all winter. Whether it’s painting, replacing bathroom fixtures, sanding kitchen cabinets, staining the deck or re-grouting the bathroom, now’s the time to get the ball rolling on various home improvement projects that will pay big dividends when prospective buyers come to view your home.

While most of the home improvement projects you’re ready to tackle require detailed planning and preparation, you’ve more than likely been gearing up for these projects throughout the winter season. Even if you’re just getting around to planning your project, a visit to your local hardware store or a YouTube video of a DIY project can go a long way toward helping you get your project get off the ground.

Now that spring has sprung, you can also change various accessories within the home to create a totally different look. Bringing spring colors into the home is easy, especially with accessories like throw pillows, area rugs, artwork, towels and bedspreads. Designers recommend bringing in certain colors (think pears, eggs and seashells) to play off the spring theme. You can also incorporate leaf patterns in fabrics, wicker, real leather and rust metal to add a level of contrast.

Turning to the yard, one doesn’t need a green thumb to help their lawn look top-notch. In fact, adding flowers around the outside of the home is an easy way to create a beautiful color scheme. Flowers can either be put directly into the ground or arranged in planter’s boxes that can then be situated on a porch, in a sunroom or on a windowsill.

Flowers that are most manageable include marigolds, pansies, snapdragons and alyssum. Marigolds can be found in bright yellow and vivid orange, while pansies typically range from dark purple to pale violet. Snapdragons are taller and range from pink to blood red, while alyssum—used to fill out the space between plants—has tiny white or purple flowers on a bed of green.

You can also add shrubs to your lawn, planting a mixture of interesting bushes with architectural form and texture, which will add year-round ornamental value.

With the brutal winter behind us, now’s the perfect time to start thinking about spring cleaning and getting your home and yard in shape for the warmer weather headed our way.

For more information on getting your home ready for spring, contact our office today.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

April 2015
SuMoTuWeThFrSa
2930311234
567891011
12131415161718
19202122232425
262728293012
3456789

Spring Lake, Sand Springs  -  We invite everyone to visit our open house at 4106 S 137th West Ave on April 26 from 14:00 to 16:00.

Come by to view this 5 car garage home with pool, sun deck, covered patio, gazebo, stream, surround sound safe room & greenbelt views. 

Property information

April 2015
SuMoTuWeThFrSa
2930311234
567891011
12131415161718
19202122232425
262728293012
3456789

Oxford Court, Broken Arrow  -  We invite everyone to visit our open house at 17415 E 43rd Street Tulsa on April 26 from 14:00 to 16:00.

Come and view this wonderful home that backs to greenbelt with neighborhood pool & park. 

Property information

5 Ways to Increase Curb Appeal, Value


(Family Features)—Whether you're planning to list your home for sale soon or you're simply working to maintain features that attracted you to the charming abode in the first place, careful attention to curb appeal is a must.

In the real estate world, the saying to avoid judging a book by its cover does not apply. The exterior of your home sends an important message about its character, and even its value, making people eager to see what is inside. This first impression sets expectations for the entire property for potential buyers, appraisers and even your guests.

Keep your house looking young and inviting with these five home care tips:

1. Look at the landscaping. Curb appeal is about the whole picture your home presents, which includes your lawn, shrubs and features such as flower beds and rock gardens. Keep grass neatly trimmed and prune vegetation for a well-kept look. Also give your home a thorough look from the street. Are trees or shrubs obscuring an appealing architectural detail? Does vegetation dwarf your home, making it seem small? Would a pop of color from some flowering plants add to the overall look?
 

2. Beware of dingy dirt. Because you see your home every day, you may not realize the exterior has become dull with a layer of dust and dirt. An adjustable pressure washer will let you wash siding, garage doors and shutters without stripping paint as well as delicate items such as glass top patio tables. Then switch to the high flow mode, which delivers up to five gallons per minute for extended reach to clean second story windows, eaves and gutters or to blast away hard-to-reach cobwebs and insect nests.
 

3. Update with paint. If a thorough washing leaves a ho-hum look behind, it may be time to revisit your home's exterior color scheme. Even modest adjustments, from pale beige to a deeper tan, for example, can completely alter the look. Or, focus on adding color to the trim, door and shutters if new, all-over color is out of the question.
 

4. Wash where you walk. The favorable impression created by impeccable landscaping and a fresh, clean facade can be swept away in an instant if sidewalks, driveways and patios are unsightly. Skip the messy buckets and brush, and instead reach for a high pressure, high flow pressure washer such as those featuring Briggs & Stratton's POWERflow+ technology, which include adjustable pressure and flow as well as power-soaping detergent tanks to let you clean tough stains then quickly wash them away with a single machine.
 

5. Dote on the details. Decks, fences, mailboxes, birdbaths, gazebos and other decorative features all factor into your home's exterior image. Thoroughly clean these items, repair any loose or broken pieces such as fence slats, and apply a fresh coat of paint or stain, if needed.

 

Source: www.powerflowplus.com.

 

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

 

 Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

Mortgage Rates Inch further Down


Freddie Mac recently released the results of its Primary Mortgage Market Survey® showing average fixed mortgage rates moving down again across the board. Average fixed rates that continue to run below four percent will help keep affordability high for those in the market to buy a home as we head into the spring home buying season.

"The average 30-year fixed mortgage rate fell to 3.69 percent following a decline in 10-year Treasury yields,” says Len Kiefer, Freddie Mac deputy chief economist. Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability. Existing home sales in February increased slightly, but less than expected, to a seasonally adjusted annual rate of 4.88 million units. Meanwhile, new home sales outperformed expectations and surged 7.8 percent to an annual pace of 539,000 units.

The 30-year fixed-rate mortgage (FRM) averaged 3.69 percent with an average 0.6 point for the week ending March 26, 2015, down from the prior week when it averaged 3.78 percent. A year ago at this time, the 30-year FRM averaged 4.40 percent.  

Additionally, the 15-year FRM this week averaged 2.97 percent with an average 0.6 point, down from the last week when it averaged 3.06 percent. A year ago at this time, the 15-year FRM averaged 3.42 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.92 percent this week with an average 0.4 point, down from the week prior when it averaged 2.97 percent. A year ago, the 5-year ARM averaged 3.10 percent. 

Additionally, the 1-year Treasury-indexed ARM averaged 2.46 percent this week with an average 0.4 point, unchanged from the last week. At this time last year, the 1-year ARM averaged 2.44 percent.

For more information, visit http://www.freddiemac.com/.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

8 Ways First-Time Homebuyers Can Prepare for a Mortgage


(BPT) - When it comes to buying your first home, a lack of knowledge and experience can lead to costly mistakes. One in four first-time homebuyers say they are completely unfamiliar with the mortgage financing process, according to a report by the Consumer Financial Protection Bureau (CFPB). Even among those with an understanding of the overall process, the report found that many first-time homebuyers still had significant knowledge gaps in important areas such as available mortgage rates, closing costs, down-payment requirements and income required to qualify for a loan.

First-time homebuyers can become mortgage-ready with these tips.

1. Adjust your budget. A mortgage payment can increase your monthly housing expenses, so prepare by calculating what that amount will be and begin saving that same amount every month so you can get used to the budget change in advance.

2. Plan for a down payment. Nearly all home loans will require you to put some money down as a down payment. Some home loans may require as much as 20 percent of the purchase cost as a down payment, although some Federal Housing Administration (FHA) loans may require less. Decide on the amount you think you'll need and create a savings plan to help you reach that goal.

3. Consider the location and type of home you want to buy. Many factors influence the cost of a home, including its location, size, style and more. A larger home in a high-income area will generally cost more, and property taxes will be higher on a bigger, newer, well-located home. Many first-time homebuyers find manufactured or mobile homes are a good option. Knowing the estimated cost of the type of home you want to purchase can help you better manage your budget.

4. Stay on top of your credit. Lenders will consider your credit score and report history when determining your mortgage eligibility and the interest rate they may offer you. Make sure to review your credit report in advance. You can download a free credit report once a year from all three major bureaus at www.annualcreditreport.com. If you're planning to apply for a mortgage, it's a good idea to review your report more frequently and to consider paying to obtain your credit score from at least one major bureau. If your report contains errors, work with the credit bureaus to have them corrected before you apply for a mortgage.

5. Keep current on monthly bills. While it's important to save toward a down payment, don't let monthly bills slide. Paying your bills on time every month can help increase your credit score, and a good payment history is something lenders look for when reviewing your credit report. Use online tools like email reminders and automatic payment options to help ensure you never miss or make a late payment.

6. Work on your debt. If you have delinquent balances, bring them up to date as quickly as possible. If you carry a lot of revolving credit card debt, you may want to work to reduce it by paying more than the monthly minimum payment. While it helps to have a report that shows no late payments, the most important thing is to not have any delinquent balances before you apply for a mortgage.

7. Plan for escrow. In addition to the amount you will need each month toward repaying your mortgage, you'll need escrow - an amount added to and collected with each monthly mortgage payment that is applied toward annual homeowners' insurance premiums and/or taxes. Estimating taxes and total insurance costs can help you better understand how much your escrow will be each month, and you'll be able to budget more accurately as you prepare for homeownership. Don't forget that this amount may adjust every 12 months if your insurance premium or taxes change for the next year.

8. Take advantage of educational resources. Check out resources like the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA).

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First" 

How Does the Color of Your Home Affect Buyers?

By Suzanne De Vita


It’s no secret that color is crucial when marketing a product. In fact, consumers come to a subconscious conclusion about a product within 90 seconds of viewing, and much of that judgment (62-90 percent) is based solely on color, according to the Institute for Color Research. Retailers apply these findings every day (think red sale signs) to encourage consumers to purchase their products. Can the same be said in real estate?

Consider this: If color influences product marketing strategies, the color of a home can be a decisive factor when selling.

“Your home’s exterior color is literally the first thing a buyer will see and comment on,” says Suzanne Otto, home stager and owner of Six Twenty Designs in Montgomery County, Pa. When preparing a home for the market, Otto recommends shades within the white, tan or gray color families. These colors resonate beyond pure aesthetics – according to e-commerce giant eBay, white indicates safety. For a homebuyer, a home with a white exterior can translate to concepts like “shelter” or “safe haven.”

Related: Staging Curb Appeal for Web Appeal

Similarly, understated browns (including the aforementioned tan) signal security. Homes painted in sandy or mushroom hues read comfort and warmth. Colors like taupe, which falls somewhere between brown and gray, call to mind traditional values, homeownership included. Earthy tones like laurel green or artichoke can not only highlight a verdant landscape, but also evoke a sense of tranquility.

Per eBay’s assessment, blue is ideal to move product because it transcends culture. Homes outfitted with a dusty blue or blue-gray exterior may not bridge the gap between your everyday seller and an international homebuyer, but a universally regarded color can help widen the net for buyers on the home front.

If red signs boost retail sales, it seems likely a red home would be ideal for a speedy sale. Not necessarily – red in small doses, such as sale stickers or tags, encourages action. Red on a grander scale can cause adverse reactions. An alizarin crimson door, for instance, might be well-received by buyers, but a house in the same shade could potentially limit offers.

Homes in other colors can sell successfully – our retinas tend to register yellow before any other color, so a buttery yellow exterior could be an attractive option for buyers – but non-traditional colors, like oranges and purples, appeal to very specific personalities and can significantly shrink the pool of interested buyers.

It’s important for sellers to consider the home in relation to the neighborhood before swapping out the exterior color or refreshing an existing paint job. Do nearby homes share a distinct color scheme? Is each home uniquely colored? Evaluating the home’s surroundings can help sellers determine what’s most popular in their market.

View this original blog post at RISMedia's blog, Housecall. Check the blog daily for real estate news and trends for you and your clients.

Reprinted with permission from RISMedia. ©2015. All rights reserved.

 

Janet & Graham Ford SRES MSA CSP e-Pro Broker & Associate
http://www.janetford.com
email: info@janetford.com
Janet Cell: (918) 798 4428
Graham Cell: (918) 798 6628
Fax: 918 398 5330 & 800 829 9408
Real Estate Consultant & Marketer of Fine Homes "Putting People First"

 

 

More Posts Next page »