Posted by Rick Kanne on Wednesday, May 3, 2017 at 12:49 PMBy Rick Kanne / May 3, 2017Comment
When you’re delving into the market in the hopes of finding your dream home, it’s likely you’ll come across the term debt-to-income ratio. This may not seem important at first, but your DTI is the key to determining the amount of money you can put into your home and just how much you should spend on a monthly basis. If you’re curious about what this means for you, here’s how to calculate it and how it can impact your mortgage.
What’s Your DTI Ratio?
One of the best ways to determine whether or not a home is affordable for you is to first calculate your DTI ratio. To get this amount, add up all of your monthly payments including any credit card, loan and mortgage payments, and divide this amount by your gross monthly income. The amount you get is your DTI percentage and this will help to determine how much your monthly payment should be.
Posted by Rick Kanne on Wednesday, April 26, 2017 at 12:47 PMBy Rick Kanne / April 26, 2017Comment
Many millennials are expected to enter the housing market in the next year with the interest rates still low. However, while it may be a good time, it does not necessarily mean that it’s the right time for you to make the investment. If you’re currently weighing your options when it comes to home ownership, here are some things to consider before you decide put the money down.
Are You Struggling With Student Debt?
It’s possible to invest in a home when you’re still paying down student debt, but if you’re also struggling with a low-paying job and a high debt load, it may not be the right time to buy. Instead of trying to make ends meet to pay a monthly mortgage payment, it might be a better decision to pay off some of your debt, lower your interest costs and consider investing later on. This will also enable you to afford more home when you decide the time is right to buy.
Posted by Rick Kanne on Tuesday, April 18, 2017 at 12:41 PMBy Rick Kanne / April 18, 2017Comment
There are so many ways in which you can green up your home and make it more sustainable these days that many people are considering tankless water heaters. While this can certainly be the right option depending on the space you have and the type of water you use, here are some things to consider before you decide to invest in the switch.
Maximizing Your Space
One of the biggest issues with a traditional water heater is the amount of space it takes up, whether it’s a side closet or a closed-off area in the basement. Fortunately, one of the benefits of tankless water heaters is that they can be wall-mounted almost anywhere in your house so they won’t need their own separate space. The traditional water heater may be bulky and require an area of its own, but your tankless water heater will not have to work around the needs of the rest of the house!
Posted by Rick Kanne on Wednesday, April 5, 2017 at 12:44 PMBy Rick Kanne / April 5, 2017Comment
Yes, this miracle product does more than fix squeaky hinges on doors! Most of us have a can of WD-40 laying around the house, but don’t know some of the incredible things that it can do. Here are our five favorite uses for this product.
Five New Uses for WD-40 | CBSHOME
Clean off chewing gum
Next time you have gum stuck to the bottom of your shoe, or heaven forbid, in someone’s hair, you can clean it off with a little bit of WD-40. Just spray the gum liberally and it should slide right out. No bad haircut necessary!
Remove crayon from walls
Is your little artist getting a little carried away with their artwork? You can remove crayon from walls and other surfaces with WD-40!
Posted by Rick Kanne on Friday, March 17, 2017 at 1:30 PMBy Rick Kanne / March 17, 2017Comment
The idea of embarking on home renovations may strike many homeowners as an expensive one, but there are plenty of ways that you can easily upgrade your home without spending a lot of money. If you’re looking for improvements that will truly (and frugally) improve the value of your home, here are a few do-it-yourself options you may want to consider.
Change The Lighting
There are few small fixes that will improve the look of your home like lighting, so one of the best things you can do for the overall look of your house is change out some of your bulbs. Instead of going for a light that will look dingy or orange, choose a tone that’s not too bright but will still illuminate your rooms and highlight their best features naturally. Much like a coat of paint, the right light can change everything about the way a visitor will view your home.
Consider A Cabinet Makeover
One of the most outdated features in a kitchen is the...
Posted by Rick Kanne on Monday, February 27, 2017 at 1:36 PMBy Rick Kanne / February 27, 2017Comment
Last week’s readings on new and existing home sales provided further evidence of strengthening housing markets. Both categories of home sales exceeded December’s readings. Consumer sentiment was lower in February than for January and average rates were mixed with fixed rates higher and the rate for 5/1 adjustable rate mortgages lower. Consumer sentiment lower in February.
New and Previously–owned Home Sales Higher in January
Home sales volume rose in January regardless of obstacles including higher mortgage rates and rising home prices. The National Association of Realtors® reported more sales of pre-owned homes in January. 5.69 million homes were sold on a seasonally-adjusted annual basis in January, which surpassed expectations of 5.57 million sales and December’s reading of 5.51 million sales of previously-owned homes.
New home sales also rose in January. 555,000 new home sales were reported, which fell short...
Posted by Rick Kanne on Wednesday, February 15, 2017 at 3:42 PMBy Rick Kanne / February 15, 2017Comment
The post-election period is often one of uncertainty, and the time since the 2016 election has been no different with regards to market force and the financial world. With a new administration taking office, there are many questions regarding how Donald Trump’s presidency will impact the market and your mortgage. If you’re wondering what the predictions are for the coming year, here are a few things the experts are considering.
An Increase In Rates
Due to an expected hike in rates by the Federal Reserve, it’s unlikely that potential homebuyers will be able to get the low interest rates of previous years. While higher rates are likely, the proposed tax plan and budget of Donald Trump may lead to increased inflation and could also have an impact on rates down the road. The low rates of previous years certainly made homeownership a more feasible option, but it’s still a good time to get into a home before they rise even more.
Posted by Rick Kanne on Tuesday, February 14, 2017 at 11:23 AMBy Rick Kanne / February 14, 2017Comment
Whether you’re new to the real estate game or you’ve bought and sold a home before, there are many details involved in selling. It can be enticing to think about taking on the responsibility yourself and going it alone, but there are a number of reasons it’s wise to use a real estate agent. Before you make a decision on selling your home, ensure you consider all the details you’ll have to deal with.
Misunderstanding Of The Market
It’s entirely possible for a home seller to look at the MLS listings and determine a price range for their home, but the right real estate agent will have a wealth of knowledge to draw from. In all likelihood, they will be familiar with the neighborhood and may even have sold a few homes in it. This means they’ll be able to determine the right offer for your home and ensure it’s feasible on the market, which may mean a higher price and a shorter selling time.
Posted by Rick Kanne on Monday, February 13, 2017 at 11:21 AMBy Rick Kanne / February 13, 2017Comment
Last week’s scheduled economic readings were limited and included new jobless claims and Freddie Mac’s mortgage rates survey. In other news, all types of mortgage applications rose by 2.30 percent this week as compared to the prior week.
Mortgage Rates Lower, Home Loan Applications Rise
Freddie Mac reported lower mortgage rates for fixed rate and 5/1 adjustable mortgages; the average rate for 30-year fixed rate mortgages dropped two basis points to 4.17 percent. Average rates for 15-year mortgages also dropped two basis points to 3.39 percent. 5/1 adjustable mortgage rates averaged 3.21 percent, which was also two basis points lower than the previous week. Discount points averaged 0.40 percent for the three types of mortgages tracked in Freddie Mac’s weekly Primary Mortgage Market Survey.
According to the Mortgage Bankers Association, this small drop in mortgage rates caused all types of mortgage applications to rise by 2.30 percent on a seasonally-adjusted...
Posted by Rick Kanne on Sunday, February 12, 2017 at 11:19 AMBy Rick Kanne / February 12, 2017Comment
Winter may be almost over, but that doesn’t mean that it still isn’t cold out! We know that we have to take care of ourselves in inclement weather, but we often forget about our furry friends. Here’s how to protect our pets from the cold until spring arrives.
How to: Protect Your Pets from the Cold | CBSHOME
Don’t Leave Them Outside
When the temperatures are extremely cold, be kind to your animals and bring them inside. No matter how fluffy your pet’s coat is, after a while they will get cold. Try to limit your pet’s time outside to only bathroom breaks and a quick exercising playtime.
Posted by Rick Kanne on Thursday, February 9, 2017 at 3:20 PMBy Rick Kanne / February 9, 2017Comment
Whether you’re planning to sell or not, if you can afford to upgrade your home it’s almost always worth it. But the question is: which renovations add value to your life, as well as your house? Let’s explore how adding an in-ground pool to your backyard can boost your home’s value.
The Ultimate In Functional Luxury
It’s true that there are many home upgrades that add a ton of value. Kitchen renovations, home solar panels and other long-term investments tend to pay off. But few are as luxurious and fun as installing your own in-ground pool.
Not only will you get to enjoy having a swim whenever you feel like it. But some studies show that having a pool improves your health and quality of life. Of course, you’ll actually need to use your pool to gain its benefits. But once you have one… why wouldn’t you?
A Huge Draw For Families
As you might imagine, in-ground pools are very popular with home buyers that...
Posted by Rick Kanne on Wednesday, February 8, 2017 at 11:56 AMBy Rick Kanne / February 8, 2017Comment
When it comes to real estate, there are always going to be upswings in the market that will have an impact on your mortgage payment and overall financial health. However, with a fluctuating market here to stay, you may be wondering how you can guard your biggest investment and your finances against rate increases. If you’re concerned about rates on the rise, here are a few tips to test out you’re fiscal well-being.
Calculate Your Debt-To-Income Ratio
It’s beneficial to determine your DTI ratio prior to purchasing a home, but since debt and housing costs are always fluctuating, calculating this number again can be a wakeup call. By adding up your monthly expenditures (including any debt), and dividing that number by your pre-tax income, you’ll be able to determine your DTI percentage. While it’s ideal to have a percentage of less than 28%, if your expenditures have risen above this number, it may be time to take a look at your monthly budget and see what you can...
Posted by Rick Kanne on Tuesday, February 7, 2017 at 11:54 AMBy Rick Kanne / February 7, 2017Comment
The prospect of finding the home you’ve always dreamed of can be such an exciting prospect that it’s easy to forget all about the process of negotiating. However, it’s important to keep a few things to yourself when it comes to the art of making the deal. If you’re currently searching for the right place and are preparing to sign on the dotted line, here are a few phrases it’s best to avoid.
Declaring It Your Dream Home
There’s nothing wrong with finding the ideal home and getting enthusiastic about the prospect of owning it, but it’s very important not to say too much to the homeowner or the homeowner’s agent. While it’s certainly welcome to be a polite home viewer and mention some of the features you like, giving away too much will inform the homeowner of just how much leverage they have with you. This can mean they may request a higher price since they know how interested you are.
Posted by Rick Kanne on Monday, February 6, 2017 at 11:52 AMBy Rick Kanne / February 6, 2017Comment
Last week’s economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose.
Private and Public Sector Jobs Post Unexpected Gains
ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December’s reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January’s Non-Farm Payrolls, which is issued by the Labor Department and includes private and public sector jobs, also posted higher than expected job gains with 227,000 new jobs in January as compared to 197,000 new jobs expected and December’s reading of 157,000 new jobs. Retail, construction, financial and restaurant industries led job growth. The jump...
Posted by Rick Kanne on Saturday, February 4, 2017 at 11:39 AMBy Rick Kanne / February 4, 2017Comment
As scary as it sounds, the world we live in is not always as safe as we’d like. It’s unfortunate that people need to be more diligent and aware these days, but it never hurts to ensure you are protecting yourself. As real estate agents, there are lots of other worries and security measures that need to take place. Here are 11 tips to help make you and your clients safer. If you feel like you are in danger, call 911 immediately.
REALTOR Safety 101 | CBSHOME
If you feel uncomfortable going to a showing for whatever reason, call another Realtor to go with you. Whether your fears are correct or not, you’ll feel better knowing that someone else is with you.
Always let someone know where you are going. Keep a public calendar...
Posted by Rick Kanne on Friday, February 3, 2017 at 11:38 AMBy Rick Kanne / February 3, 2017Comment
Winter may be a time for nesting until the cold weather abates, but there are a number of important tasks that a homeowner should be sure to do during the winter months. If you’re readying for the slow season or wondering what you might have forgotten, here are some things you’ll want to check off your to-do list.
A New Coat Of Paint
Getting out the paint may seem like a sizeable task, but any peeling paint is going to be adversely affected by the cooler temperatures of fall and winter. While you may want to hold off if it’s already cold, it might be a task worth prioritizing if the materials on your home will be damaged as a result of the coming weather.
Shovel The Snow
Shoveling snow may be important for sidewalk safety, but a build-up can actually have an ill effect on your home’s foundation. Instead of taking the risk, ensure you clear the areas around any basement windows and steps so that drainage will not impact your home’s foundation...