Coit Group Fine Homes

  Home improvement projects don't have to be large-scale to return a big value at the time of sale. In fact, the 2015 Cost vs. Value report points out that even something as simple and cheap as replacing a steel door returns, on average, 101.8 percent nationally. If homeowners want to save more money and get a great return on a home improvement investment, some relatively easy do-it-yourself (DIY) projects pack the most punch. "Going DIY is the ultimate money-saving tool," says John Riha, editorial director of the Black & Decker Home Improvement Library. "You'll also get tons of satisfaction and enjoyment from creating a better home environment, and from learning home improvement skills that'll last a lifetime." Before deciding to try DIY, owners should keep some things to keep in mind. Some projects are worth the cost of hiring a contractor, including fixing electrical work, or big home exterior improvements, like replacing roofing and sid...

June 3, 2015 – A neighborhood's cell phone reception quality is very important to Americans looking to purchase a home. RootMetrics surveyed 2,000 U.S. adults and found that 76 percent ranked mobile service as important. By comparison, 60 percent identified good schools as important. U.S. adults in all age groups ranked mobile phone service higher than schools. Hospitals ranked as high as cell phone service when averaging all age groups, but healthcare was overwhelming favored by older adults. Overall, most Americans looking for homes care about the crime rate (96 percent); local taxes (90 percent); and amenities like shops, parks and restaurants (84 percent), according to RootMetrics. Source: Time (06/02/15) Poppick, Susie

NAR: Pending home sales at highest level since 2006

  Question : I've read recently that it's getting harder to find rentals. I'm thinking about buying a home after our lease expires. I already have seen all the advice online about cleaning up my credit and saving up for a downpayment. Do you have any other words of wisdom about finding a home? – Ross Answer : While I can't overstate the value of finding a good real estate agent to guide you in this process, there is no substitute for educating yourself. There's a ton of free information readily available online, but it's not necessarily all accurate. Before you start looking for a house, you should make a list of what is most important to you – both now and in five years. Consider how many children you might have while living in the home. Is it possible an aging parent could be moving in with you? Look at neighborhoods before you identify specific homes. Most people seem to limit themselves to the area in which they currently live. I recently had client...

Average U.S. rate on 30-year mortgage rises to 3.69% WASHINGTON (AP) – Feb. 13, 2015 – Average long-term U.S. mortgage rates rose this week yet remained near historically low levels. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year mortgage jumped to 3.69 percent from 3.59 percent last week. The average rate is still at its lowest level since May 2013. The rate for the 15-year loan, a popular choice for people who are refinancing, increased to 2.99 percent from 2.92 percent last week. A year ago, the average 30-year mortgage stood at 4.28 percent and the 15-year mortgage at 3.33 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to hold down long-term rates. Government data released last Friday showed a resurgent job market in January, signaling that the economy is finally regaining the kind of strength typical of a robust recovery. U.S. employers adde...

 More Americans now believe it would be easy for them to get a mortgage, according to Fannie Mae’s January 2014 National Housing Survey results. Positive consumer attitudes regarding the ease of a mortgage application climbed 2 percentage points to an all-time survey high of 52 percent, while those who think it would be difficult dropped 3 points to 45 percent – an indication that consumers view mortgage credit as more accessible. While Freddie Mac still predicts more moderate home price gains over the next 12 months, consumers’ view that mortgage credit is more available may allow for continued but measured improvement in the housing recovery. Consumer attitudes about the economy also improved in January despite downbeat jobs data for the past two months. The share of consumers who believe the economy is on the right track climbed 8 percentage points to 39 percent, while the share who believe it’s on the wrong track declined to 54 percent. Additionally, the share who expe...

The Farm Bill approved by the Senate yesterday and the House last week includes a provision that will enable millions of Americans to maintain access to rural housing program loans. The U.S. Department of Agriculture (USDA) redraws its maps defining rural areas following every census, and the maps drawn after the 2010 census would have removed some communities from the program due to population growth. According to the National Association of Realtors® (NAR), however, the farm bill includes language that grandfathers current communities through the 2020 census. It also increases the population threshold for existing communities to 35,000 from 25,000 until after the 2020 U.S. census. The Rural Housing Section 502 loan program (RHS) can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. The loans are funded by private lenders, and simply insured by the RHS. The Section 502 program is self-funded an...