Blog - Leagan Realty

Housing Market Index Shows Builder Confidence Up 23 Percent Year-Over-Year

December 18, 2013 by lizlaurenb Leave a Comment

Housing Market Index Shows Builder Confidence Up 23 Percent Year- Over- Year According to the National Association of Homebuilders/Wells Fargo Homebuilders Market Index for December, builder confidence recovered in with a reading of 58. This surpassed both expectations of 56 and last month’s reading of 54.

Analysts noted that builder confidence has steadied after the government shutdown. December’s reading was the highest in four months. Dave Crowe, NAHB chief economist, said that his organization was expecting a “gradual improvement in the housing recovery” in 2014.

Any reading above 50 indicates that more builders are confident about overall housing market conditions than not.

Builder Confidence – Highest Reading Since 2005

Pent-up demand for housing is driving housing markets in spite of higher mortgage rates. Three components of builder confidence used to calculate the overall reading also rose in December. Builder confidence in current home sales rose to 64 from a reading of 58 in November; this is the highest reading since 2005.

Confidence levels in housing markets over the next six months rose to 62 from last month’s reading of 60. Builder confidence also grew in the area of buyer foot traffic in new developments and gained three points to a reading of 44.

All of this is good news, but the NAHB said that a gap remains between higher home builder confidence and the rate of new home construction. A seasonal lull in home construction is not unusual especially in areas experiencing harsh weather.

More Jobs, Low Refinance Numbers Could Mean More Mortgages Available

MarketWatch analysts suggest that if the economy continues to add jobs “at a brisk pace” and mortgage lenders ease lending requirements next year, the demand for homes could further strengthen the U.S. housing market next year.

Low numbers of refinance mortgages in 2013 may cause some lenders to loosen mortgage credit requirements, which were tightened after the housing bubble burst.

Economic News scheduled for today may provide a broader picture of economic health and likely trends for 2015. The Federal Reserve’s Federal Open Market Committee will provide its expected statement after its meeting, and Fed Chairman Ben Bernanke will give his last press conference as Fed chair as well.

Any indication of plans to reduce the Fed’s current quantitative easing program could upset financial and mortgage markets, but most economic analysts don’t expect an announcement of tapering the Fed’s asset purchases before next year.

Data on November Housing Starts and Building Permits will also offer clues as to how housing markets and the general economy are doing.

Picking The Perfect Holiday Tree

December 17, 2013 by lizlaurenb Leave a Comment

Picking The Perfect Holiday Tree It’s coming up on Christmas time, which means that people are decorating their home with lights and tinsel. It also means that it’s time to pick a Holiday tree. If you’ve never had a real Holiday tree or you never seem to get it quite right, these tips and tricks can help you pick the perfect tree:

Buying Your Tree

Measure where you’re going to place the tree in your home, from ceiling to floor. You’ll want your tree to be at least a foot shorter than the ceiling, so take a measuring tape with you when you shop for your tree.
When measuring for height, adjust for the star, angel or topknot that you’ll be using; most can add as much as twelve inches to the height of your tree.
Measure the opening of your tree stand, so you know how wide the base of the tree can be.
The base of the tree should be straight and at least six inches long to fit nicely into your tree stand.
Run your fingers along the needles of the tree you’re looking at, and give the tree a shake. Very few needles should fall off.
For the best shape, full branches, rich color and good needle retention on trees, choose a Balsam fir, Douglas fir, Fraser fir, Noble fir or Scotch pine.
Buy as soon as you can for the best quality, or wait longer for best price.

Taking Care Of Your Tree

After you get it home, cut an inch off the base so your tree can take in water more easily. Make sure the cut is straight.
Use a stand that holds at least one gallon of water.
Make sure you water your tree often. This keeps the needles from drying, as well as keeping the fragrance strong. Check the water level every few hours.
Don’t add anything to the water – no aspirin, soda water, bleach, etc. – to keep it fresh. According to the experts, lots of plain water is best.

Keep cheerful Holiday spirit alive by having the perfect Holiday tree in your home, one that’s lush and brightly decorated. Want a new home to decorate? Call your trusted real estate professional. Have a Happy Holiday!

What’s Ahead For Mortgage Rates This Week – December 16, 2013

December 16, 2013 by lizlaurenb Leave a Comment

Mortgage Debt Rises For First Time Since Recession

Last week was relatively quiet concerning scheduled housing-related news, but the Federal Reserve’s financial accounts report, released on Monday, indicated that mortgage debt in the U.S. had increased for the first time since the first quarter (Q1) of 2008.

Mortgage debt increased by a seasonally-adjusted annual rate of $87.4 billion, or 0.90 percent. Mortgage debt remains approximately 12.00 percent below pre-recession levels.

Increasing debt is not often considered good news, but in the case of mortgage debt in today’s economy, it suggests economic recovery in the form of higher home prices and fewer foreclosures.

Another instance of counter-intuitive economic results was released Tuesday. The Bureau of Labor Statistics (BLS) released its Job Openings and Labor Turnover Survey (JOLTS) report for October.

JOLTS indicated that 2.39 million workers quit their jobs in October. This was the highest number of jobs quit since 2008. While this may appear counter-productive to a growing economy, it indicates that workers are leaving their jobs for better positions.

Mortgage Rates Fall, Federal Budget Deficit Shrinks

On Wednesday the U.S. Treasury announced that November’s federal budget deficit had shrunk to -$135 billion from November 2012’s deficit reading of -$172 billion. This represents a year-over-year deficit decrease of 21 percent.

Freddie Mac’s Primary Mortgage Market Survey (PMMS) report provided good news as average mortgage rates fell last week. The average rate for a 30-year fixed rate mortgage fell from 4.46 percent to 4.42 percent. Discount points rose from the previous week’s reading of 0.50 percent to 0.70 percent.

15-year fixed rate mortgage rates fell from 3.47 percent to an average reading of 3.43 percent, with discount points rising from the prior week’s reading of 0.40 percent to 0.70 percent.

The average rate for a 5/1 adjustable rate mortgage dropped from 2.99 percent to 2.94 percent with discount points unchanged at 0.40 percent.

Lower mortgage rates are good news for home buyers facing higher home prices.

Weekly jobless claims rose last week. The previous week’s reading of 300,000 new jobless claims was short-lived as the reading for new jobless claims rose to 368,000 last week and surpassed a consensus of 335,000 new jobless claims.

Financial analysts cautioned that employment data can be volatile during the holidays, and noted that the four-week average of new unemployment claims rose by 6000 to 328,750.

What‘s Coming Up

There are several significant releases set for housing-related news. The NAHB housing market index, Housing Starts, and Building permits indicate how current builder confidence and new construction may impact the supply of available homes.

On Wednesday, the FOMC will issue its usual statement at the conclusion of its two-day meeting. Some analysts expect an announcement concerning the Fed’s quantitative easing policy; Outgoing Fed Chair Ben Bernanke is set to give a press conference after the FOMC statement.

In addition to the weekly jobless claims report and Freddie Mac’s PMMS, Reports on Existing Home Sales and Leading Economic Indicators will also be released.

Santa’s Landing Pad, Tips For Winter Roof Maintenance

December 13, 2013 by lizlaurenb Leave a Comment

Santa’s Landing Pad, Tips For Winter Roof Maintenance It’s that time of year again when the weather outside gets frightful but the holiday cheer is delightful. You’ve probably got a lot on your mind during these busy winter months, but make sure that you don’t neglect the roof of your home.

Taking care of your roof is an important part of home maintenance and you don’t want to suffer a leak or any other problem during the cold months.

So how can you make sure that Santa and his sleigh have a solid and well-maintained landing pad when they touch down at your house this year? Here are some tips that every homeowner should know:

Check Out Your Gutters

Your gutters are an important part of your roof, because they allow water to flow away from the roof surface before it causes rot and damage. During the winter, your gutters will be more likely to get clogged with fallen leaves, snow and ice and can get blocked if they are not cleared out.

Get yourself a ladder and a friend to hold it for you and clean any leaves, debris and dirt from the gutters. Flush the gutters out with a hose afterward to ensure they are clean. If your gutters have become damaged or leaky, you can use gutter sealant or fibreglass resin to patch up the hole.

Trim Back The Trees

If you have a lot of trees and vegetation overhanging above your roof, it’s a good idea to trim it back before the winter months. At the moment, it might not be touching your roof – but once it is weighted down with snow or blown around by the wind it might do some damage.

When hiring a tree trimming service, get a few different quotes from a range of contractors so that you can be sure that you are getting the right price.

Inspect Your Roof For Weak Spots

A roof inspection can save you from a lot of roof damage, which could get even more serious when the weather gets colder and wetter. Start by performing a visual inspection of the inside and outside of your roof.

Look around for any missing tiles and make sure that the gutters are allowing the water to drain freely from the roof. This can be done while walking around your property with binoculars.

If you spot something that looks suspicious, you can hire a professional roofer to take a closer look. They will be experienced and will know what to look for, so that they can find the weak spot and fit it right away. A roof inspection will cost you, but it is a lot cheaper than paying for a new roof!

These are just a few important maintenance tasks that you can perform in order to ensure that your roof is in tip top shape to welcome the winter season – and a sleigh pulled by eight tiny reindeer! For more handy tips and info about your home, contact your trusted real estate professional today.

Real Vs. Artificial Christmas Tree Helpful Tips

December 12, 2013 by lizlaurenb Leave a Comment

Real Vs. Artificial Christmas Tree Helpful Tips Few questions are more important this time of year than which Christmas tree you should buy for your home. There are some things to keep in mind when looking for the perfect Christmas tree.

Here are just a few:

Real Or Artificial Tree?

Real Christmas trees require some care; if you’re planning to travel this holiday season, you may not want a live tree. You must water the tree to make sure that it doesn’t lose its needles before Christmas day.

The live trees are not fire resistant, the dried out pine needles can get too hot from the lights and may burst into flame.

On the other hand, there isn’t any up-keep with an artificial Christmas tree, and many look quite realistic. The plastic Christmas trees have an added bonus of being flame retardant.

Then, there’s the convenience of not having to go out in the cold weather to pick the tree out.

For those of you who can’t imagine Christmas without the pine needle smell, you can buy air fresheners that mimic the smell of fresh cut pine. For some, an artificial tree is the best of both worlds.

How Big Is Too Much Tree?

Now that you’ve decided what kind of Christmas tree to buy, you have to find out how big a tree you can fit in your home. It could be that the only thing limiting the size of your Christmas tree is your budget; in that case, your decision is easy.

However, if you’re limited on space, you’ll need to decide the best place to put your tree first.

Try to think of how the area will “frame” your Christmas tree. Consider how much traffic goes by the area and whether there will be enough room for the presents to stay safe.

Break out the measuring tape so you don’t have to guess when you’re on the Christmas tree lot; trees look deceptively small on the lot. Or, if you opted for the fake Christmas tree, you’ll know exactly which box to pick out; just look for the right size.

Want to buy a home that has space for a bigger tree? I can help. Give your trusted real estate professional a call today.

Sell Your Home Without Losing Precious Holiday Family Time

December 11, 2013 by lizlaurenb Leave a Comment

Sell Your Home Without Losing Precious Holiday Family Time Putting your home on the market during the holiday season might seem like you’re just inviting stress and frustration to come knocking on your door. However, December is a great time to sell because there are few homes on the market, buyers are serious and your house will be decorated to look nice and cozy.

With the tips below, you can get your home ready to sell and ensure important family time by having the kids help out.

Hire A Real Estate Agent

Employing a professional will allow you to unload the worries that come along with selling a home. Your real estate agent will burden the pressure — and work — of finding the perfect buyer for your home. This will free up your time to enjoy the season with your family.

Get The Kids Involved

With your house up for sale, you don’t want to go too crazy with decorations. Make a day out of decorating and have the kids help you put up your more tasteful trimmings.

Then you’ll be creating family memories and making your house festive for the season. Avoid any overly religious decorations and try to go for a winter theme.

Shoot A Video

Have your teenager be the cameraman while you narrate. Or, for an even more adorable virtual tour of your home, have your child describe each room. Then post the video on your home’s website for buyers to view.

Not only will buyers get a feel for your home, but you’ll have great memento of where you lived once you move.

Create A Cozy Retreat

Use low lighting, build a fire, play classical music and turn up the thermostat to create a snug environment that buyers and your family will enjoy. You’ll make potential buyers want to linger in your inviting home. And, your family will have fond, homely memories of their last holiday season in this house.

Loosen Up

Keeping your home immaculately organized and clean can be exhausting. Remember that this time of year is all about family. So relax and enjoy yours! If you don’t end up selling your home this December, then there’s always next year — which is fortunately only a few days away.

Don’t let the holiday rush intimidate you when it comes to selling your home. By getting your kids involved, you’ll sell your house and make lasting memories of the final festive season in that home.

Be Prepared For That Next Winter Storm With These Quick Tips

December 10, 2013 by lizlaurenb Leave a Comment

Be Prepared For That Next Winter Storm With These Quick Tips It’s getting cold, and that means you’re at risk for blizzards or ice storms. Depending on where you live, these winter storms can knock out the power for weeks. With these easy tips, you can be prepared for and even enjoy these storms.

Stay Warm

Losing power means losing heat, and that can be a pain. But trust me, you can live comfortably for a long time with no heat. The first step is to dress warm. Lots of light layers keep you warmer than one big coat, so layer up. Wear a hat or a hood as well.

Your body loses most of its heat through your head. It’s also important to insulate your house. Put extra weather stripping or towels under the door and windows. You don’t want any drafts getting in.

Keep Your Water Running

Pipes might freeze during a winter storm as well. It’s important to keep the water running. The water in the pipes will freeze much faster if it isn’t moving. So go to each faucet and tap and turn them on just a little bit, so that they’re barely dripping. That way the water won’t sit still in the pipes and freeze.

Stay In The Loop

Your regular sources of information may be obsolete without electricity. Your computer and cell phone will die quickly, and your television will be dead as well. Keep a battery-powered radio on hand.

It seems old-fashioned, but it’s much more comforting when you know when the power is expected to come back on. Remember that most news like this is on the AM stations.

Check On Your Neighbors

Remember you’re not the only one without power. Put on your snow boots and go see how your neighbors are fairing in the winter storm. Even if they’re the kind of neighbors with an obnoxious barking dog, it’s worth checking in on them. You might bring an extra blanket or two as well.

Stock Up

When it comes to winter storms, it’s better to be over prepared, than not prepared enough. Keep some extra water and canned foods stored in the house. Keep extra flashlights, candles, matches, a camping stove, and maybe some extra gasoline for the car, or generator.

Like a boy scout always be prepared. Most storms won’t be a matter of life and death, but your preparedness will make the storm much more comfortable.

Winter storms can be a pain in the neck, but a little preparation goes a long way. When the power goes out, it’s nice to know that you have everything you need to get by.

Just remember to stock up on supplies, keep your water running, stay up to date, and check on your neighbors.

What’s Ahead For Mortgage Rates This Week – December 9, 2013

December 9, 2013 by lizlaurenb Leave a Comment

What’s Ahead For Mortgage Rates This Week – December 9, 2013 Last week brought several indicators of a strengthening economy. New home sales, private and federal employment and mortgage rates rose.

The Department of Commerce released construction spending numbers for October with mixed results. Although public projects fueled an 0.80 percent increase in month-to-month construction spending, residential construction fell by 0.60 percent.

Analysts had expected an increase of 0.50 percent and also noted that the negative effect of the government shutdown was a “blip.” October’s reading for construction spending was the highest since 2004.

CoreLogic released data that home prices rose by 0.20 percent, which represents a year-over-year growth rate of 12.50 percent for home prices. Pending home sales were suggested that November sales are expected to hold steady as compared to October, and projected year-over-year sales for November at 12.20 percent.

Slower growth in home prices was attributed to higher mortgage rates and a fear of a housing bubble in the West, where demand for homes far exceeds the number of available homes.

Not wanting to buy at the top of the current housing market, some potential buyers may be waiting for the talk of another housing bubble to subside before buying. Robert Shiller, co-author of the Case-Shiller Housing Market Index, noted that home buyers may not be “psychologically ready” for another housing bubble.

New home sales for October were higher than expectations of 419,000 homes sold on a seasonally-adjusted annual basis. October’s reading of 444,000 new home sales was 21.60 percent higher than September’s reading of 354,000 new homes sold. The national median home price fell by 4.50 percent to $245,800 in October; this was the lowest month-to-month reading since November 2012.

The number of available homes fell to a 4.90 month supply in October. This may cause buyers to put their home searches on hold as they wait out the winter months and hope for supplies of available homes to increase.

U.S. Employment Improving, Mortgage Rates Rise

ADP a private-sector provider of payroll services reported 215,000 new jobs added in November as compared to October’s reading of 184,000 jobs added. Weekly jobless claims supported the ADP reading as new jobless claims fell to 298,000 against expectations of 325,000 new claims and a prior reading of 321,000 new claims.

The Bureau of Labor Statistics brought more good news with its Non-Farm Payrolls report and Unemployment Rate for November. Non-Farm payrolls added 203,000 jobs in November against expectations of 180,000 jobs added and October’s reading of 200,000 jobs added.

The National Unemployment rate dipped to 7.00 percent in November against expectations of a 7.20 percent reading and October’s reading of 7.30 percent. The Federal Reserve has set a benchmark unemployment rate of 6.50 percent as an indicator of economic recovery.

Last week’s strong economic news boosted mortgage rates; Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 17 basis points to 4.46 percent with discount points lower at 0.50 percent.

The average rate for a 15-year fixed rate mortgage also gained 17 basis points at 3.47 percent with discount points at 0.40 percent. The average rate for a 5/1 adjustable rate mortgage rose by 5 basis points to 2.99 percent with discount points at 0.4 percent.

What’s Coming Up

This week’s scheduled economic news includes Retail Sales, Weekly Jobless Claims and Freddie Mac’s report of average mortgage rates.

4 Safety Tips To Prepare Your Home For the Cold Weather

December 6, 2013 by lizlaurenb Leave a Comment

4 Safety Tips To Prepare Your Home For the Cold Weather As the temperature drops and we don more layers, it can be startling to realize how cold it’s actually gotten.

So before the snow starts piling up at your door, you’ll want to get yourself prepared for winter and the harsh conditions it can bring.

Below are a few cold weather safety tips to keep you and your home secure from Frosty’s frigid touch.

Keep The Cold Out

If you haven’t already winterized your home, then now is a good time to do it. Add extra insulation in your attic and walls, if possible. Caulk around windows and doorframes to keep the warm air in and the cold air out.

Prepare An Emergency Kit

In case your power goes out, you want to be sure you’re prepared to brave the cold weather for a few days. You’ll want a backup heat source, such as a generator or wood-burning fireplace.

You’ll also need at least a three-day supply of water, non-perishable food items, flashlights with extra batteries, battery-powered cell phone chargers and a medical kit that includes prescriptions.

Be Cautious When Warming Your Home

Make sure you’ve replaced the batteries in your smoke and carbon monoxide detectors. While turning on your heater will probably be fine, you should take extra precautions since it probably hasn’t been fired up for months.

Also, be extremely careful with space heaters. Make sure they’re away from anything flammable, and always turn them off before you go to sleep.

Care For Your Pipes

Frozen pipes are costly to fix. Your pipes can freeze and cause water damage when they thaw. And, not being able to access clean water can be major inconvenience.

To prevent frozen water, keep your home at a constant temperature day and night. If the power goes out, turn your faucets on to get a small trickle and open up all the cabinets to circulate warm air around the pipes.

Don’t let a snow or ice storm catch you unprepared! From survival storage to heating your home, the better you equip your house now to handle the cold weather, the less you’ll have to worry about when the power goes out.

Utilize the safety tips above to get your family and your home ready for whatever winter might blow at it. For more around the home tips or how to stay warm in a new home this winter, contact your trusted real estate professional.

Creative Holiday Storage Solutions

December 5, 2013 by lizlaurenb Leave a Comment

Creative Holiday Storage Soluttions Every holiday season when you get out the decorations, there always seems to be a period of organization where you need to untangle lights, sort out the broken ornaments and just get all of the trimmings in order.

Next year, skip the hassle of sifting through everything. The year-to-year holiday storage strategies below will help make next December’s decorating easy.

Hide Paper Up High

Utilize a space that is always vacant — the ceiling of your closet. Attach two strings of wire from the front wall above your closet door to the back wall. Make them parallel to each other and about two feet apart. Then you can slide your wrapping paper tubes across the two wires. No more crinkled or torn paper!

Bag Your Lights

The hassle of untangling holiday lights every year can become a dreaded tradition. A smart solution is to invest in inexpensive gallon-sized sealable bags. Label what each bag’s lights are for, such as the tree, mantel or outdoors.

Wrap individual strands around your arm and them place them inside the appropriate bag. Put all bags in one holiday storage container.

Recycle Wrapping For Your Breakables

After you’ve ripped off the wrapping and gotten to the goods, don’t just throw your pretty paper out. Reuse it! Run it through the shredder to create fun filling for the boxes that hold your ornaments and breakable decorations.

Get Crafty With Labels

Instead of writing straight onto the holiday storage bins, tape or glue festive envelopes to the side. Then you can write a list of everything in that box and put it in the envelope.

For those who like everything clean and organized, this means that if you switch out anything in the box, you don’t have to mark it out on the side — just change the paper inside the envelope.

Display Holiday Cards Creatively

Receiving holiday cards is a great way to keep in touch with distant family and friends. Instead of throwing the cards away each January, use a hole punch to create two holes in the sides of the card.

Then insert jump rings to make little picture memory books that you can display on the coffee table every year. For more around the home tips or if you are looking to buy a home with plenty of storage space, contact your trusted real estate professional.