Commentary: What's in Store for Housing in 2014

The McLeod Group is excited to begin 2014.
 
It’s always my goal for my clients to be the best informed about the real estate market and how it’s performing.
 
The following two articles give a comprehensive overview of real estate and what you can expect in the upcoming year.
 
As always, if you have any questions, please don’t hesitate to call me.

"For those of you looking for cautionary notes going into 2014, I offer two items: jobs and loans. Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn’t creating enough good-paying full-time jobs to drive a full recovery in the housing market. This is particularly true among the millennials, who continue to live at home with mom and dad at near record levels."

To Continue Part 1 : Commentary: What's in Store for Housing in 2014, Part 1

To View Part 2: Commentary: What's in Store for Housing in 2014, Part 2

The McLeod Group 

wishes you a 

Merry Christmas 

and a 

Happy New Year

Serious Housing Conversations Happen Over the Holidays

Hi Friends!

As we enjoy the holiday season I want to share with you an article I came across about some things we should keep in mind as we celebrate.  

"As the holidays approach, families will be gathering all across the country to share meals, exchange gifts, and take part in activities and traditions passed down through the generations.

And while this time of year is typically reserved for celebration and remembrance, it is often a time for serious conversations and decision making for those with elder parents and relatives."


To continue reading:  Serious Housing Conversations Happen Over the Holidays

Let me know if you have any questions!

5 Reasons to Buy A Home Now Instead of Spring

Hi Friends, 

During my reading I came across this article and I want to share it with you. It has some great points explaining why now is the time to buy!

"Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply is Shrinking: 
With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon: 
Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

Owning A Home Helps Create Family Wealth: 
Whether you are rent or you own the home you are leaving in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Fed, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

Interest Rates are Projected to Rise: 
The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the end of 2014. That is an increase of almost one full point over current rates.

Buy Low, Sell High: 
We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy."

Please let me know if you have any questions!

Is Your Home Winter-Proof? 

Hi Friends, 

With the winter months upon us, I wanted to share with you some tips for protecting your home that I came across during my reading.

Don’t let your home get the winter blues. As the cold weather approaches, home owners can do the following maintenance checks to ensure their properties are ready for the winter months. The real estate Web site Zillow offers some of the following tips: 

- Check the weather stripping along your door and door frame to ensure there are no gaps that can let cold air seep into your home. Also, you may want to add weather stripping or caulk to your windows to prevent any drafts and wasting energy.

- Sweep out those chimneys. The National Fire Protection Association advises home owners to sweep out the chimney at least once a year to help prevent house fires. 

- Service those furnaces at least once a year too. It’ll cost about $100 and can help avoid costly repairs later or a malfunction of carbon monoxide pumping into the home, which can be deadly.

- Prevent frozen pipes, such as by using heating tape to wrap any exposed pipes on the home’s exterior and turning off the water as well as draining any water remaining inside the valves."

Let me know if you have any questions!

Down Payments Continue to Decline in Third Quarter

Hi Friends, 

I'm eager to share with you this article I found during my reading today. 

"The average down payment on a 30-year, fixed-rate mortgage loan in the third quarter of this year was 15.73 percent, according to Charlotte, North Carolina-based Lending Tree an online marketplace connecting potential borrowers with lenders.

The third-quarter average is down 2.74 percent from the previous quarter, according to Lending Tree, which suggested in a press release that the drop is due to a slight loosening of standards by lenders across the nation."

To Continue Reading: 
Down Payments Continue to Decline in Third Quarter

Let me know if you have any questions!

5 Ways to Slash Your Heating Bills


Hi Friends,

Here is an article I came across in my reading. With the winter months quickly approaching I thought you may appreciate the information found in this article.


"Now that temperatures are dropping across the country, its time to think about how you can slash your heating bills for the season. Here are five low-cost and/or no-cost moves to help you save money while staying comfortable at the same time."


To continue reading: 5 Ways to Slash Your Heating Bills

Let me know if you have any questions!