Potential home buyers often describe the home buying process as being complicated. And, most likely, a lot of their confusion stems from the financing side of the transaction. A lack of knowledge about what is required and how to proceed can cause otherwise qualified borrowers to become intimidated and even delay their dreams of homeownership. For example, prospective buyers often have misconceptions about down payment requirements, believing they are required to put down much more than is actually necessary. And, though calculating the size of your down payment depends on a number of factors, believing that you can’t buy a house with less than a 20 percent down payment can be enough to convince a potential home buyer that they aren’t yet ready to buy. That’s why it’s important to contact your lender to explore your options before you talk yourself out of buying. Though there is plenty of information available online – and recent research shows the internet is the primary source of information about mortgages – you can’t get an accurate appraisal of your options and price range without the help of a qualified professional. Don’t allow misconceptions to hold you back from buying the home of your dreams. More here.
Contract Signings Improve In October
Among the many indicators used to track the health of the housing market, the National Association of Realtors’ Pending Home Sales Index is unique. That’s because, rather than count the number of homes that sold in any given month, it counts the number of signed contracts to buy homes. So what’s the difference? Well, contracts are typically signed about a month before the actual closing date. Which means, pending sales offer a glimpse of where future sales might be. And, according to the most recent report, sales might soon see a lift. That’s because the number of contracts signed in October was up 3.5 percent and marked the first increase in three months. Lawrence Yun, NAR’s chief economist, said the improvement was encouraging but challenges still remain. “Home shoppers had better luck finding a home to buy in October, but slim pickings and consistently fast price gains continue to frustrate and prevent too many would-be buyers from reaching the market.” In short, buyer demand still outweighs the number of homes available to buy but recent news offers some reason to believe improvements are on the horizon. More here.
Parker Scott Properties Weekend Guide
WEEKEND OF DECEMBER 2-3 2017</h2
– A Christmas Tradition, November 23-December 24 2017
2-hour annual Christmas-themed, family-oriented performance at the Savannah Theatre, with shows available Tuesday-Sunday. Adults $37, children (under 18) $18. More details
– Savannah Harbor Holiday Series, November 24-December 24 2017
Family-friendly outdoor seasonal programming at the Westin Hotel on Hutchinson Island, with Gingerbread Village display in the hotel’s lobby. More details
– Holiday Sights Tour, November 24-December 24 2017
Old Town Trolley’s seasonal tour, which includes stops at the Davenport House Museum and the Westin Hotel’s Gingerbread Village on Hutchinson Island. Adults $28.50, children (4-12) $16. More details
– December Nights & Holiday Lights, November 25-December 24 2017
Self-guided walking tours of the Coastal Georgia Botanical Gardens’ annual holiday lights show, with more than a million lights. Admission is charged. Event does not run on rainy evenings. More details
– City Market Holiday Open House, December 1 2017
Holiday lights, caroling and evening opening at City Market. More details
– (Tybee Island) Lights On For Tybee, December 1 2017
Holiday celebration and tree-lighting ceremony at the Tybee Island roundabout, with music and refreshments. More details
– Christmas on the River, December 1-3 2017
Seasonal arts and crafts festival with music and other entertainment, including the annual Lighted Christmas Parade. Free event. More details
– City Market Christmas For Kids Celebration, December 2 2017
Child-oriented Christmas event at City Market, with visits to Santa, crafts, music and other entertainments. More details
– (Tybee Island) A Lighthouse Christmas, December 2, 9 and 16 2018
Special evening holiday event at the Tybee Island Lighthouse exploring the holiday traditions of Tybee’s lighthouse keepers in the 1930s and 1940s, with carols, cider, and the opportunity to climb the tower to see Tybee’s holiday lights from above. Adults $15, children (5-17) $10, young children free. Advance reservations are required, call 912-786-5801. More details
– (Tybee Island) Tybee Island Christmas Parade, December 2 2017
Holiday parade on Tybee Island, with visits to Santa. More details
– Oyster Roast for a Reason, December 2 2017
Fundraising oyster roast on Skidaway Island, to benefit the ongoing efforts to revive Georgia’s historic oyster farming industry. $50 per person. More details
Where To Look To Eliminate Household Odors
Your sense of smell can be a peculiar thing. Odors that overwhelm some people, don’t affect others. And odors that you’re accustom to seem to disappear altogether after a while. So it’s no surprise that homeowners might worry that their home may be giving off an unpleasant scent. And, during the holidays, this becomes even more of a concern, as it’s a popular time of year to have houseguests. Fortunately, there are some fairly common places you can target to ensure that you’ve eliminated any odors that may be going undetected. One of the more obvious targets is pets. If you have animals in your home, make sure you clean their favorite places, pillows, beds, and blankets, etc. Basements and bedding are also common places for odors to linger. Mold and mildew can cause mustiness in basement areas but can also be detected by sight, which makes addressing it even easier. Be sure also to keep your bedding clean and your mattress fresh. Another obvious spot to check for odors is your refrigerator and freezer. Check that there’s no grime, grit, or leftovers lurking in the back that are emitting odors. Overall, paying some regular attention to these hot spots can help remove any worry about how your home smells to holiday house guests or, if you’re selling your home, potential buyers. More here.
Rising Home Values Mean Immediate Gains For Buyers
There are many factors to consider when deciding whether or not it’s a good time for you to buy a house. Most of these are personal and have to do with the needs and desires of you and your family. Market conditions may influence your decision, but ultimately the best time for you to buy a house is when you’re ready. And while that’s largely true, knowing what’s going on in the market can still be important, as it gives you a feel for what to expect during your home search and after. For example, recent research shows that the average house is $12,500 more valuable today than it was just a year ago. And, though that will be disappointing news to buyers who have seen their purchasing power reduced over the last year, it should also be encouraging to prospective buyers – as rising prices may mean your future home’s value continues to increase once you’ve become the owner. In other words, if home prices continue to increase at the same pace during the next year, buying a house now may mean you’re – not only getting a better deal now than you would if you wait – but you’ll also be able to start building equity almost immediately. More here.
Should You Buy A House During The Holidays?
How Buying A Home Can Help Save You Money
The argument for or against buying a home usually rests, to some extent, on wealth creation. Conventional wisdom says homeowners – through equity and price appreciation – are building wealth, while renters are throwing their money away each month. Of course, there are some notable instances where that basic argument seemed discredited. Take the most recent financial crisis and housing crash, for example. Following the crash, many people began to question the typical arguments in favor of homeownership, as homeowners saw their home values plummet. Now, a new study from Florida Atlantic University, Florida International University, and the University of Wyoming says homeownership offers no financial advantage when compared to renting and investing in a portfolio of stocks and bonds. However, the study’s findings are based on an assumption that renters will use any extra money, not on consumption, but on investing for the future. According to the results, “The analysis showed that households that are likely to not reinvest buy-rent cash differentials should mostly own rather than rent their primary residence as ownership forces them to save.” In other words, you can create wealth while renting, if you’re disciplined and invest wisely. If not, buying is a better deal. More here.
Rising Number Of
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Pricing Your Home According to the CMA Method
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