Archive for January, 2012

It appears to be a positive outlook for our 2012 housing condition. Luckily, snow has not paved heavy enough to cause major delays in our travel. As cold as it was this past Sunday, we continue to receive a good amount of foot traffic indicating serious buyers in search of their new home, even in the midst of winter. And as most sellers would agree, those contracts they receive in the winter compared to summer are taken much more seriously and with a higher chance of settlement.

We are also seeing more and more contracts from a trickle effect of decrease in debts. More and more homeowners are able to pay off their debts and seeing credit as becoming easier and easier to achieve. Some banks are finally reaching a point of stability where they are able to get back to business and help push our housing market forward. This is a positive indication that our economy is on the path to recovery.

Another positive sign of strength in our economy is when we see buyers creating access to liquidity, by adding a home equity line of credit. Having liquid cash readily available is a very important first step when buying a home and using that cash towards your good faith shows sellers seriousness and strong motivation. And with interest rates continuing to stay at an all-time low, it’s a perfect combination for making a purchase.

Banks are now in a position where they are capable and permitting homeowners to refinance what was once a very large debt. Homeowners are now able to consolidate their multiple debts into one, taking a huge burden off of families, thereby, encouraging stability in repayment of loans and creating a sense of security.

Buyer’s affordability to purchase a home is soaring for a couple of good reasons. With discounted homes, such as short sales and foreclosure, many are finding these homes in surprisingly great condition. And what better time to purchase with financing when it’s costing just under 4% to do so right now? Not to mention the Home Loan Purchase Grant Programs available from specific lending institutions, which are not just for first time homebuyers, but repeat buyers as well.

Lastly, bravo to our private sector for creating more jobs in the latter half of 2011! As more opportunities arise for those seeking jobs, it is only another positive sign that our economy is moving on the path of recovery.

The importance of your credit score cannot be overemphasized these day.  It affects not only the interest rate you’ll get when you apply for a home loan or refinance, but also your rates on car loans and credit cards.  Surprisingly these days, even employers will monitor your credit rating.

This article explains much about what goes into your credit score (http://finance.yahoo.com/news/credit-score-080000874.html) but there are many ways to beat the averages and raise your credit score.  Beyond paying your bills on time, you’ll want to pay your bills strategically to raise your score as quickly as possible.  Many people become embarrassed by what’s on their credit reports.  No need to be.  Sometimes mistakes are made but they can be rectified, not easily but with diligent work you can repair your history.  Feel free to give me a call if you’d like some advice.  In the meantime, find out where you stand.  Get your free credit report as a first step.  Be sure you’re getting all 3 reports from the 3 reporting agencies.  Once a year you can get the report but make sure they don’t try to charge you for the service as it should be for free.

“Over there is going to be a southern cooking place, and over there is going to be a new vet,” the man said to who I could only assume were his parents.  As the group walked on and I slowly made my way past them, the conversation jumped at me, alive with future plans, descriptions of what is, and stories of what once was.  Since the riots of the sixties H St NE has been on a roller coaster ride, and as a result was neglected by the very city that was supposed to help it.  Until recently when the notoriously horrible road running through the corridor was finally fixed there wasn’t even a good way to bring traffic to the few struggling businesses, especially those down on Benning.  As I said though this has changed.  The road is one of the widest in the city, boasting 4 lanes, trolly tracks, and cheap 75 cents an hour parking on the sides.  If you ever saw the old road, this would blow your mind.  As a result, the H St NE of the past has leaped the transition phase and is now settling into the development phase with a back drop of some the greatest bars and restaurants the city has to offer.  What struck me though as I return to the family I was walking past, was not the awesomeness of H St, something I preach about every day, but the conversation the boy was having with his parents.  It’s getting out, simple as that.  People from around the city are taking notice of the shift in mentality and outsiders are seeing it as a chance to be part of something amazing.  With proposed plans for over a thousand apartments between 4th and 14th within the next few years, the opportunities are endless.  So come join me in NE and experience life our way, with a bar crawl from New Orleans to Germany, with a pit stop in Belgium for some authentic flavors from abroad.  If that’s confusing, I suggest starting at 4th and working your way to 14th, I promise it will all become clear!