Archive for June, 2012

Saving on Energy Costs in the Summer Starts with Home Inspection Services

posted on June 22nd, 2012 | filed under: Uncategorized

RISMEDIA— Summer is heating up quickly. Many homeowners don’t realize that properly preparing a home for the summer is just as important as the steps we take in the winter to reduce heating costs. According to the Environmental Protection Agency, nearly 20 percent of the average homeowner’s utility bill is spent on cooling. In the sweltering summer months, the increased energy production needed to run air conditioners raises costs and also contributes to pollution. While there are several areas in every home that contribute to the cost of energy bills, REALTORS® should highlight energy-efficient features like new cooling systems and windows as selling points when showing homes to potential buyers.

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Nationwide Housing Affordability Reaches New Record High

posted on June 8th, 2012 | filed under: Buying Strategies, Cardiff, Carlsbad, Del Mar, Encinitas, Good People, Loving the Lifestyle, NoCo SD Market Conditions, Rancho Santa Fe, Solana Beach, Successful Selling, Trust & Probates, Uncategorized

RISMEDIA, Thursday, June 07, 2012— Nationwide housing affordability hit a new record high for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). Yet tight lending conditions continue to pose a major obstacle to many prospective home buyers.

The latest HOI data reveal that 77.5 percent of all new and existing homes that were sold in this year’s first quarter were affordable to families earning the national median income of $65,000. This beats the previous record set in the final quarter of 2011, when 75.9 percent of homes sold were affordable to median-income earners.

“Homes in this year’s first quarter were more affordable than they have been at any time in more than 20 years, yet many potential sales are not happening because of overly tight lending conditions that are keeping hardworking families from obtaining a suitable mortgage,” says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Without this significant hurdle, the housing and economic recovery could be proceeding at a much stronger pace.”

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Mortgage Rates Continue to Drop | Record Lows and One-Year Running Trends

posted on June 1st, 2012 | filed under: Buying Strategies, NoCo SD Market Conditions, Successful Selling, Uncategorized

Mortgage rates moved even further into record lows this week, continuing on a seven week trend of small declines. The average fixed rate 30-year mortgage, the most popular mortgage product, fell to 3.79% and the 15-year rate moved just slightly lower to 3.04%, from 3.05%, also a new record low.

The historic low rates are encouraging the demand for loans. According to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey, home loan applications increased 9.2 percent over the last week.

The chart below shows the Running One-Year Trend for 30-year Mortgage Rates.  While there is some minor volatility in the rates from week-to-week, the downward trend is undeniable.

Mortgage Rates Chart

Written by Samuel Scott Financial Group on May 19, 2012

 

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Jeff DeChamplain