With the higher cost of real estate in central urban areas and with real estate space at a premium, many who make the decision to relocate will need to downsize from a larger house to a smaller condo or apartment.
Last week’s economic news included readings from the National Association of Home Builders on housing markets and Commerce Department readings on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also published.
The Federal Open Market Committee of the Federal Reserve said in its post-meeting statement that the Federal Reserve expects to raise its benchmark interest rate range twice during 2023. No rate changes will be made during 2022 as the economy continues to recover from the Covid-19 pandemic. The Fed’s current interest rate range is 0.00 to 0.25 percent.
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment, if your home has been appraised at less than you envisioned, here are some options you may want to consider.
Homeowners who are thinking about listing their home for sale in the coming weeks or months may be focused on improving their home to help it sell more quickly, but there also may be a focus on adding value to the home in the process. In fact, these are a few simple and easy projects that can typicaly be completed over the course of a weekend; that can add value and desirability to the home.
Last week’s economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released.
If you’re buying a home, you’ll want to try to get your mortgage processed as quickly as possible. Improperly filed mortgage applications are one of the biggest reasons why home sales get delayed, and if you have a hard move-out date already set, it’s critical that your mortgage process goes smoothly.