14 Aug 2019
By Mortgage Blog Content

A $400,000 Profit From Flipping A Single House?

Real Estate
Flipping homes is popular once again. It took about eight years after the Great Recession that started in 2006 for home prices to rebound to the levels seen before the recession. Then, by 2016, in many areas, home prices started to rapidly increase. The increases in home prices caused more flipping activity due to the potential profits. CNN reports the average gross profit on a flipped home sold during the past three years was about 50%. In 2017, one real estate speculator took nearly one million dollars ($985,00) in cash and bought a home in an "as-is" condition, sight-unseen. That is what Mr. Lin He did, hoping to make some easy…
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13 Aug 2019
By Mortgage Blog Content

How Important Is The Land Around A Potential Home?

Real Estate
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 storms and cause damage your roof.…
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12 Aug 2019
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – August 12th, 2019

Financial Reports
Last week's economic releases included readings on consumer credit, job openings and weekly reports on mortgage rates and first-time jobless claims. Consumer Credit Use, Job Openings Slow in June Consumer credit use slowed in June as credit card use lost ground. Non-revolving credit, which typically includes education and auto loans, grew at its slowest pace in three months. Mortgage loans are not included in the Federal Reserve's report on consumer credit. Consumer credit use grew by $14.6 billion year-over-year in June as compared to May's year-over-year reading of $16.0 billion. Year-over-year credit use fell one percent in June to 4.30 as compared to May's year-over-year reading of 5.30 percent. Credit card use…
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09 Aug 2019
By Mortgage Blog Content

4 Simple Tips To Make Sure Your Home Smells Inviting

Real Estate
As a diligent home seller, you've taken all your real estate agent's advice about preparing your home for showings. You've de-cluttered, enhanced curb appeal and developed efficient strategies for leaving your home while viewings are taking place. But have you given any thought to how your home smells to strangers? Newcomers to your home will naturally be more sensitive to the smells of your house. Your nose is likely desensitized to your common household odors, but a prospective buyer may be put off by how it smells. Here are some ways to make sure your home smells inviting. Don't Burn Incense If you enjoy burning incense, you might think this is…
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08 Aug 2019
By Mortgage Blog Content

How To Find Motivated Sellers In Your Real Estate Market

Real Estate
Bargains in real estate may come from identifying motivated sellers who are willing to let a property go for less than it is really worth. Real estate investors who acquire properties at a discount from current market value enhance their success by increasing their profit potential. Real estate agents who list properties owned by motivated sellers increase their chances to sell a property quickly and have happy sellers who might refer them in the future. Here are some tips on how to find motivated sellers: Distressed Discounts A property that lists for a long time and then the listing shows a discount is a clear sign the owner is becoming motivated.…
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07 Aug 2019
By Mortgage Blog Content

New York Penthouse Sells For $238 Million – Is This A Real Estate Bubble About To Burst?

Real Estate
The most expensive home sold in America, so far, was a New York penthouse that sold for $238 million in January 2019. It is on the top of a building that overlooks Central Park. The 26-story luxury condo building designed by Robert A. M Stern is nearly all sold out. Who Has That Kind Of Money? The proud buyer of the penthouse is Ken Griffin. His net worth is estimated to be $9.6 billion. He is the founder of the Citadel hedge fund. Griffin is 50 years old. A few days before buying the NYC penthouse, he closed on a home in London that overlooks St. James Park near Buckingham Palace.…
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