home buying: What's Ahead For Mortgage Rates This Week - September 16th, 2019 - 09/16/19 10:16 AM
Last week’s economic news included readings on inflation, core inflation and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.
Lower Gas Prices Dampen August Inflation Rate
Consumer prices fell in August; analysts attributed the decline to lower gasoline prices. August’s reading matched expectations, but was 0.20 percent lower than July’s reading. The Core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.30 percent and matched July’s reading.
Analysts expected an August core inflation reading of 0.20 percent. Rising housing and healthcare costs indicated that overall inflation would rise in coming months. Core inflation rose … (0 comments)

home buying: What's Ahead For Mortgage Rates This Week - August 26th, 2019 - 08/26/19 08:11 AM
Last week's economic news included readings  from the National Association of Home Builders Housing Market Index and July readings on housing starts and building permits issued. Weekly readings on initial jobless claims and mortgage rates were also released. 
NAHB: Home Builder Sentiment Remains High
According to the National Association of Home Builders, builder confidence in housing market conditions rose one point to an index reading of 66 for August. Housing Market Index readings showed that builder sentiment has held steady with readings of 64 to 66; any reading over 50 indicates positive builder sentiment.
Analysts said that despite strong readings for builder confidence … (0 comments)

home buying: Should You Brace For A Potential Market Downturn Next Year? - 08/19/19 08:36 AM
Don't panic, a looming recession may be good news for those wanting to sell their homes. The experts say this recession may happen in 2020, so there is still plenty of time to make plans for how to deal with a potential economic downturn.
In many parts of America, especially in popular cities, the real estate markets are super hot for sellers. Home sales are coming in at prices that are record highs. For sellers in these hot markets, it might be time to sell. For buyers, able to wait until next year, the prices may come down.
What The 'Experts' Say
A Pulsenomics … (0 comments)

home buying: How Important Is The Land Around A Potential Home? - 08/13/19 12:08 PM
When viewing a potential home, how much consideration should you give to the surrounding land?
In many ways, the land should be carefully regarded, since land is the thing that is hardest to alter. You can rip up carpet, paint walls and even knock down walls, but it takes a lot more effort to change land. 
Mature Landscaping 
Mature landscaping is typically cited as a benefit, but what if you're the type who enjoys looking out at wide open spaces? It could also be that the mature landscaping - older trees - are situated dangerously near the house.
Weakened trees could lose heavy branches in … (1 comments)

home buying: The Monopoly Technique - Build Value By Acquiring Adjacent Properties - 07/25/19 12:47 PM
Have you ever played the classic board game called Monopoly? The object of the game is to collect all the properties until one winner bankrupts all the other players. The other part of the game is that accumulating properties adjacent to each other increases the value of the individual properties. When a player acquires all the properties of the same color (two or three), then the rents go up and property development can begin.
The Monopoly Game In Real Life
The same basic principles sometimes work in real life. Owning a property and then buying the one next door creates a value-added possibility … (0 comments)

home buying: Making Money Buying Homes And More From Estate Sales - 07/11/19 08:28 AM
An estate sale is the sale of the property owned by a person after a person dies. This sale may include real property, such as a home, and personal property, such as the home's contents.
There are two ways to buy property through an estate sale. One way is to buy it from the person who inherited the property. The other way is to buy it from the estate through the executor of the estate. The executor is the person with the legal authority to dispose of the estate's assets according to the last will and testament of the person who died.
The … (0 comments)

home buying: Can You Really Buy Off-Planet Real Estate? - 04/17/19 11:55 AM
Real estate agents are constantly looking for new listings, which will attract potential buyers. We no longer need to limit our search for good listings to planet Earth because Mars is now for sale.
Although this may sound a bit far-fetched at first, it is not such a strange concept if you consider the serious efforts being made to colonize Mars with the commercial efforts by companies like Space X. There is a company, called Lunar Land, which is already selling acres of land on Mars as a novelty.
Historical Precedent
Off-planet land sales have already had considerable success for those crazy enough to … (0 comments)

home buying: What's Ahead For Mortgage Rates This Week - March 4th, 2019 - 03/04/19 08:57 AM
Last week's economic reports included readings from Case-Shiller Housing Price Indices and Commerce Department reports on housing starts and building permits issued.
Readings on pending home sales and consumer confidence were released along with weekly reports on mortgage rates and initial jobless claims.
Case-Shiller Home Price Growth Slows to Lowest Rate in Four Years
Home prices continued to grow in December but reached their slowest pace since November2014. Seasonally-adjusted annual home price growth reached 4.70 percent in December as compared to growth of 5.10percent year-over-year in November.
Analysts cited high home prices, and slim inventories of available homes, although demand for homes eased in some … (0 comments)

home buying: What Happens After Your Offer Is Accepted? - 01/10/19 08:10 AM
When you make an offer on a home, you wait anxiously to see if it will be accepted. Sometimes you're lucky enough to hear back within hours. Other times you could wait days or even weeks. 
But once you get that good news that your offer has been accepted, what happens next? It's a common question, and one that your real estate agent can help you with. In general though, here's what you can expect.
There's A Home Inspection
A home inspection needs to be conducted in order to assess the condition of the home for financing needs. This is a stage where some … (0 comments)

home buying: 4 Reasons Why Home Ownership Is Better Than Renting - 12/27/18 07:26 AM
Are you trying to decide if you should rent or buy? There are many reasons why home ownership is better than renting. Here are just a few to consider when you're making your decision.
1. Stability For Your Family
When you own your home, the life of your family will be more stable. If you have children, this is a an even more valuable benefit. Your kids will be able to settle down into the routine of school and extracurricular activities. They'll be able to make lifelong friends in the neighborhood. You and your spouse will be able to feel a strong sense … (1 comments)

home buying: Real Estate Remains A Strong Wealth Management Investment - 09/13/18 07:11 AM
A young long-haul trucker driver once took an elder's advice and invested all of his money into real estate. Even though he was seldom at home to enjoy the fruits of his labor, he hired a property management company to handle the properties. The advice that stuck with the driver was simple. "They're not making any more of it, land that is."
In terms of growing personal wealth, the real estate market may fluctuate, interest rates change, and the GDP can bounce like a ball. But, land is permanent. That may seem like a simplistic view of wealth management. Maybe it is. … (0 comments)

home buying: Buying Remains Cheaper Than Renting - 09/01/18 07:59 AM
The latest Rent vs. Buy Report from Trulia shows that homeownership is still cheaper than renting in 98 of the 100 largest metro areas in the United States. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find you your dream home.
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home buying: Buying A Home? Take Stock Of These Things - 08/31/18 06:57 AM
What are some of the most important factors that buyers take into consideration when looking for a new home? There are the obvious things like price, square footage, location and lot size. Those are the basics. Other things that are often weighed are garage size, how updated the kitchen and baths are and whether or not the basement is finished.
All of these are very important to consider, but there are other more "hidden" aspects of a home that many prospective buyers may not take into account. And it's these aspects that could really come to bite them where it hurts if … (0 comments)

home buying: What's Ahead For Mortgage Rates This Week - August 27th, 2018 - 08/27/18 09:50 AM
Last week's economic readings included reports on sales of new and previously-owned homes, and weekly reports on mortgage rates and first-time jobless claims.
Sales of New and Pre-owned Homes Falter in July
Home sales were lower in July, with new and pre-owned home sales falling short of projections and June sales. According to the Commerce Department, new homes sold at an annual rate of 627,000 sales as compared to 640,000 new home sales projected and a pace of 638,000 homes sold in June.
Downward revisions for previous months contributed to a lower sales pace reported in July; but the average price of a new … (0 comments)

home buying: The Home-Buying Closing Process in a Nutshell - 04/26/18 07:53 AM
The closing process for a home purchase is an exciting time. The home is finished, the purchase is ready to be finalized and it's almost time to move in. The final steps of the closing process ensures both parties are able to meet their requirements and all the paperwork is in place and verified.
The Key Players
There are actually four parties involved in a typical closing: the buyer, the seller, the bank or lender financing the purchase, and the escrow agent. Each has an important role in making sure the closing happens effectively and efficiently.
As is common with most purchases, the buyer … (0 comments)

home buying: NAHB: Home Builder Confidence Drops in January - 01/24/18 07:07 AM
Homebuilder confidence in housing market conditions dipped two points in January; ongoing challenges including labor shortages and materials costs were cited by the National Association of Home Builders, which provides monthly readings on home builder sentiment. Three component readings of the Housing Market Index declined by one point each. Readings for current sales conditions, housing market conditions for the next six months and for buyer traffic within new single-family housing developments were 79, 78 and 54 respectively.
Readings over 50 indicate positive builder sentiment. The reading for buyer traffic seldom exceeds 50. Current readings support continued builder confidence in current and future … (0 comments)

home buying: Looking to Buy a Home in 2018 and Don't Know Where to Start? - 01/18/18 07:39 AM
Are you a renter that has become tired of paying someone else's mortgage and not building any equity? Or a homeowner who has a growing family and is in need of more space? Whatever the case, if you are in the market for a new home there is no time like the present. Let's explore a few tips that will help you to prepare for the home buying experience.
Tip #1: Prepare For A Busy Spring Season
First, it should be pretty obvious that you aren't the only house hunter on the market. Other local individuals and families alike will be searching for … (1 comments)

home buying: What's Ahead For Mortgage Rates This Week - March 13, 2017 - 03/13/17 06:59 AM
Last week's economic readings included reports on construction spending, Case-Shiller Home Price Indices and pending home sales. Fed Chair Janet Yellen said in a speech that federal interest rates would "likely" be raised. Weekly reports on new jobless claims and mortgage rates were also released.
Pending Home Sales Slump as Available Homes Dwindle
Pending Home sales fell in January as inventories of available homes declined. Prospective buyers faced with fewer choices may have chosen to wait rather than purchase homes that weren't a good match for their needs. Analysts expected pending home sales to grow by 1.10 percent in January, but they … (0 comments)

home buying: Making the Grade: How to Research Local Schools Before Buying - 03/10/17 08:37 AM
There are so many things involved in moving into a new home in a different neighborhood that it can be easy to forget about the proximity of many nearby amenities. However, if you have children, the local schools available can make-or-break the decision on whether or not to invest in a house. If you're wondering how you can find out more about the local school, let the following tips be your guide.
Take a Web-Search To SchoolMatch.com
One of the benefits of so many things being online these days is that local schools are no exception, and SchoolMatch.com is a great resource … (0 comments)

home buying: Home Builder Index Dips in January - 01/19/17 06:51 AM
January's National Association of Home Builders Housing Market Index dipped two points from December's revised reading of 69 to 67;  the index reading forecast for January was also 69.Analysts said that January's reading was the second highest (after December 2016) since the peak of the housing bubble in 2005. January's dip in builder sentiment was attributed to easing of builder enthusiasm, which spiked right after the U.S. presidential election. To put January's home builder confidence reading in context, NAHB says that any index reading over 50 indicates that more builders than fewer have confidence in housing market conditions.
NAHB Sub-Index Readings … (0 comments)

 
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Bob Elliot

20+ Yrs Local Industry Experience

Edina, MN

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Address: 15451 Founders Lane, Apple Valley, MN, 55124

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