It's time for a spring project! Maximize the space in your home, get rid of the ugly metal crate and utilize wasted-unused space under the stairs! Here are some adorable ideas for Under-the-Stairs dog crates that are sure to be loved by your pet and be the envy of your neighbors! Shiplap works for dogs too. A baby gate makes the perfect door. Why go plain? A facade is the way to go. Match the door to your home's decor. Wallpaper can work wonders. Dogs like decorations too. These crates make perfect dog-toy storage places. Add a cushion for extra comfort. Dutch doors are a perfect solution so the dogs don't feel so isolated. Color is the perfect accesory.

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop. However, in a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate. Let’s look at home prices the last four times mortgage rates increased dramatically. In each case, home prices APPRECIATED and did not depreciate. No one is projecting as dramatic an increase in rates as the examples above. Most are projecting an increase of approximately 1% by the end of the year. The last time mortgage rates increased by 1% over a twelve-month period was January 2013 (3.41%) to January 2014 (4.43%). What happened to house prices during that span? They appreciated by 9.8%. Just two weeks ago, Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting explained: “Mortgage rates have risen 1% or more ten times in the last 43 years, with little impact on home sales and prices when the economy was also strong…Historically, rising confidence, solid job growth, and higher wages have more than offset reduced demand for housing resulting from higher mortgage rates.” Bottom Line When mortgage rates increase, history has shown that prices appreciate (and do not depreciate) during that same time span. Source: www.keepingcurrentmatters.com

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report: “Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.” These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment. While many believe that they need at least 20% down to buy their dream home, they do not realize that programs are available that allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket. Myth #2: “I Need a 780 FICO® Score or Higher to Buy” Similar to the down payment, many either don’t know or are misinformed about what FICO®score is necessary to qualify. Many Americans believe a ‘good’ credit score is 780 or higher. To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans. As you can see in the chart above, 53.5% of approved mortgages had a credit score of 600-749. Bottom Line Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach. Source: www.keepingcurrentmatters.com

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months. How Will This Impact Your Mortgage Payment? Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly. According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year. If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home. Bottom Line Even a small increase in interest rate can impact your family’s wealth. Schedule a meeting with me and I can walk you through the process of buying a home and guide you step by step through the mortgage lending process and how to make sure you purchase the home of your dreams before rates get out of hand! Mark Bradley | 404.226.0659 | MarkBradley@homesouth.net Source: Keeping Current Matters

Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home. 3. Either Way, You Are Paying a Mortgage There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. Are you ready to put your housing cost to work for you? 4. It’s Time to Move on With Your Life The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But what if they weren’t? Would you wait? Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy. If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

The concept of staging a home is simple: allow buyers to visualize themselves living in the home. However, to do so, you must completely remove yourself from the equation. In fact, leaving remnants of the previous family behind will go a long way toward sabotaging your efforts to sell. Even personal photos, for that matter, can have a larger impact than you might think. They have a way of convincing buyers that the home isn’t theirs and never will be. Your goal is to establish a blank slate — something the buyers can mold into their own living space. Keep in mind that de-cluttering makes your rooms look larger and more inviting. We all know that a spotless house is almost certainly not a lived-in house, but the reality is, home buyers do not want lived-in houses, they want an ideal houses. Get rid of anything that might suggest the home belonged to someone else. Show them this idea by getting rid of any clutter such as piles of papers and magazines, unsightly wires, remote controls and more. This will also help to give your home the feeling of a spacious area and expansive views. Of course, there is an entire laundry list of things I could tell you to do, but nothing will contribute to the sale of your home more than avoiding this simple yet critical mistake. Remember that you have been living in the house and when we look at something every day we get use to seeing it. Bring in a new set of eyes. Ask a friend or 2 to stop by for coffee and get her honest opinion on the house and decor. Sometimes seeing things with fresh eyes makes a world of difference. Look beyond the to-do lists you have probably seen a million times at this point; and make sure you are checking the boxes on the don’t-do list as well. If you feel you need help figuring out what are the best things to change, update, remove or add before listing your home call our office! Heather Reardon, our in-house home stager will be glad to stop by and guide you. With her help your house will sell in no time! Happy Listing!