CNBC reports 9 million homeowners could save big time on a mortgage refinance as rates hit 3-year low. “About 9.4 million borrowers could save an average $272 per month if they were to refinance to a lower rate, according to calculations by Black Knight. The analytics company defines refinance candidates as 30-year mortgage holders with a maximum at least 20% equity in their homes and credit scores of 720 or higher, who could shave at least 0.75% off their current first lien rate by refinancing.” This is a great touchpoint for agents and brokers to reach out to their clients who may want to refinance or sell, and buyers who want to get pre-approved so when that perfect property hits the market they are ready to go.
2. PERCEIVED VALUE
“Many home sellers, keenly aware that buyers are seeking move-in-ready properties, believe that certain remodeling projects are necessary in order to sell. In particular, sellers anticipate bathroom and kitchen upgrades to be the most enticing for house hunters, according to a survey from home improvement website Porch.com.” The National Association of Realtors just completed a survey: 10 Upgrades Owners Think Are Necessary Before Selling. The survey reports 31.2% of sellers to believe they need to remodel their bathroom prior to selling. Yet, the average bathroom remodels cost is $20,420 and the average resale value is $13,717. Hmmm… those numbers aren’t adding up for me. Perhaps you have a different perspective?
3. THE LONG GAME
Be the best. “I’m talking about reading books and articles from trusted news sources and learning from successful people in your industry who are living the life you want for yourself. Imagine if you were a doctor and never read any medical journals—you wouldn’t know the latest medication protocols, treatment options or surgical techniques, and your patient care would suffer. The same is true for every industry — especially real estate investing.” Most of us know or have heard of Robert Kiyosaki from Rich Dad. His wife Kim, a regular contributor to his blog, just wrote 6 Successful Real Estate Investing. If you or someone you know wants to know more about real estate investing, this may be a worthwhile read.
4. STAYING PUT
A recent study by 55places.com found the U.S. cities where most residents stay put for decades on end, but not for the same reasons. “The resulting ranked list was largely a mix of cities at either end of the economic spectrum: cold-weather cities with lower median incomes and home values that have suffered as factories and jobs have disappeared; and warm-weather areas with healthy economies, high median incomes and rising property values.” Here Are the Cities Homeowners Never Leave (The New York Times). Can you see yourself living where you live now for thirty years? I’m not sure I can.
Contractor Fraud Expert Warns of 7 Home Improvement Scams to Avoid. “Most homeowners believe that they are too savvy to be ripped off by con artists. However, Jody Costello, home renovation planning and contractor fraud expert and the founder of the Contractors From Hell website, tells Freshome that she hears horror stories on a routine basis.” This Freshome article may save someone from making a costly mistake.