Jan 12, 2016 | Uncategorized
Leominster, MA January 8, 2016 – Real estate transactions are complicated and it is important for people to fully understand the process before making a decision to put their home on the market. In an effort to make the process easier for sellers, Attorney David Rocheford Jr. is proud to announce the release of his new book, “Selling Your Home in Massachusetts: How to sell on time, reduce your risk, and move on to your next property.” Rocheford has a real estate law practice and is dedicated to helping people sell their homes successfully. Guidelines vary by state, so the book covers everything sellers in Massachusetts need to know in order to understand the law and how to sell properly. It will be released on December 15, 2015 and it will be available on Amazon.com, and on the Rocheford’s website www.TheBestClosings.com.
The book was written for people who are thinking about putting their house on the market, or, who are in the process of selling their home. It covers a wide variety of topics important to selling a home including the role of a real estate attorney, written agreements, the difference between real estate agents and Realtors®, property marketing, house pricing, commissions, fees and more. Rocheford takes complicated topics and simplifies them in a way that readers can understand and benefit from. According to Rocheford, “I educate the reader about how to get started and navigate the process of selling a home. This new book is an easy-to-follow, guide that was not written in typical ‘legalese’ that only attorneys understand. Everyone should fully understand the process before closing.”
Rocheford has over 20 years of experience in real estate. As a college student, Rocheford worked as a real estate agent and continued the job throughout law school. He opened his own law firm and focuses on real estate matters. With over 7,000 real estate transactions under his guidance, Rocheford knows what tips to give sellers and what mistakes to avoid. He is dedicated to simplifying the home selling process with his experience and knowledge in the field.
Jan 12, 2016 | Home Buyer Tips
When delving into the realities of home ownership, there can be many factors involved that make it difficult to determine what you need to know and what can wait until later. If you happen to be a first-time buyer who’s looking for the best tips for purchasing a home, look no further than the following three pointers to set you on the right path.
Get Familiar With Your Credit Score
If you haven’t looked at your credit report for a long time, it can be a daunting task to request this information. Fortunately, your credit report is free from AnnualCreditReport.com and it will prepare you for what lenders are going to see. By taking this important step, you will be able to determine any delinquent accounts or balances owing that have gone to collections, and hopefully have these cleaned up before they can become a problem for your mortgage.
Determine The Price You Can Pay
While you may have a price in mind for what you’re willing to pay for a home, it’s important to determine your debt-to-income ratio before putting in an offer. Your DTI ratio can be determined by taking your total monthly costs, adding it to what you would be paying for a home and dividing it by your monthly gross income. If it’s a housing price that will work for you, this amount should equate to less than 43%.
Organize Your Housing History
If you have a good history as a tenant, the next step will probably be the easiest of all, but it’s very important in order to prove you’re a responsible candidate for home ownership. Once you’ve acquired a Verification of Rent from any applicable landlord in the previous year, you’ll want to ensure that you have money in the bank. While RRSP’s can make a good impression, make sure you have liquid assets available so you can convince the lender your home investment is manageable.
There are a lot of things to know when it comes to buying a home, but if you’re a first time buyer the most important thing is to ensure that your finances are organized and that you’re not diving into more house than you can afford. By taking the time to determine your debt-to-income ratio and looking into your credit, you can ensure a positive first-time buying experience. If you’re wondering about homes for sale in your area, you may want to contact your trusted real estate professionals for more information.
Jan 11, 2016 | Market Outlook
The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released. Construction spending is connected to housing markets as it provides evidence of builder confidence and also future housing supply. Labor market trends provide a sense of economic performance in general and can influence potential buyers on decisions about buying or not buying homes.
Construction Spending Dips in November
According to the Commerce Department, construction spending dropped by 0.40 percent in November to a seasonally adjusted annual reading of $1.12 trillion. November’s reading was short of the expected reading of 0.90 percent, which was based on October’s original reading of a 1.00 percent increase in construction spending. October’s reading was later revised downward to 0.30 percent. November’s construction spending was 10.50 percent higher year-over-year.
While private construction spending decreased by 0.20 percent in November, it was up 12.10 percent year-over-year due to housing construction. Housing markets have been squeezed due to consistently short supplies of available homes. New construction is seen as an important way to ease the bottleneck as buyers sit on the sidelines waiting for homes to come on the market.
Residential construction was up 0.30 percent in November and increased 10.80 percent year-over-year.
Mortgage Rates Mixed, Weekly Jobless Claims Lower
Freddie Mac reported mixed results for mortgage rates. The average rate for a 30-year fixed rate mortgage dropped four basis points to 3.97 percent; the average rate for a 15-year fixed rate mortgage rose two basis points to 3.26 percent and the average rate for a 5/1 adjustable rate mortgage rose by one basis point to 3.09 percent. Last week’s discount points averaged 0.60 percent for 30-year fixed rate mortgages, 0.50 percent for 15 year fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New weekly jobless claims fell to 277,000 as compared to expectations of 275.000 and the prior week’s reading of 287,000 first-time claims. Fewer first-time claims for jobless benefits point to stronger economic conditions in general as evidenced by expanding job markets. National unemployment held steady 5.00 percent, which mirrored expectations and the same as November’s reading.
Labor Department: 292,000 New Jobs Added in December
According to the Labor Department, 292,000 new jobs were added in December, which resulted in the fifth consecutive year where jobs grew by 2 million or more year-over-year. Upward revisions to jobs reports for October and November supported stronger economic conditions. October’s reading was adjusted from 298,000 new jobs to 307,000 new jobs; November’s original reading for new jobs was raised from 211,000 jobs added to 252.000 jobs added.
Last week’s positive jobs reports were released against a backdrop of market volatility due to fears that the Chinese economy is slowing. As the second largest global economy, China’s economy could influence global financial markets and economic conditions if it experiences serious difficulties.
What’s Ahead
This week’s scheduled economic releases include reports on job openings, retail sales and the Federal Reserve’s Beige Book. In addition to reports on mortgage rates and new jobless claims, a reading on consumer sentiment will round out this week’s news.
Jan 8, 2016 | Around The Home
The idea of conducting an energy audit on your home might seem like something complicated that should be left to the experts, but there are ways for you to make your home a little greener without consulting anybody. Instead of having someone else do the work, here are a few simple ways for you to inspect your home and green up its energy use.
Do A Candle Test Of Exterior Walls
Since cold air coming in from outside your home can impact your energy use significantly, do the simple test of taking a candle on a tour of your home to determine if there are any drafts. Ensure that you check all of the windows, doors and exterior areas where outside air can gain access; if your candle blows out or wavers, this is a surefire sign that a fix-up is needed. If you’ve located an area where air is getting in, you may need to caulk it or add insulation to remedy the problem.
Carefully Inspect The Attic
Since we rarely venture up to the attic, it can be one of the last places that we would look for a draft, but it can be one of the most vulnerable areas when it comes to insulation. Before heading up, put on a mask and some work gloves to protect yourself from the dusty surfaces, and lift up the insulation to inspect for any spaces where air could be accessing your home. If you’ve noticed gaps or places that lack coverage, fill them with additional insulation and seal it with expanding insulation for added coverage.
Don’t Take Ducts For Granted
Since ducts are made of thin metal and can easily lose heat if they are damaged or unclean, it’s important to inspect them for holes and make sure they are joined sufficiently so air is not escaping. If you’ve found an issue, you will want to replace or insulate them more effectively so that energy loss can be prevented and does not impact energy use throughout your entire home.
There are plenty of ways that your home can lose energy – from the ducts through to the exterior walls – but there are simple things you can do to test its efficiency and improve your energy use. If you happen to be doing some minor renovations so you can put your home on the market soon, you may want to contact your trusted real estate agent for more information.
Jan 7, 2016 | Home Seller Tips
Whether you’re ready to put your home on the market or you’re preparing yourself for the ins and outs of the process, you’ve probably heard about open houses. While open houses can offer an easy, instant way for many interested parties to view your house, there can also be downsides to this type of showing. If you’re considering whether or not to stage an open house, here are some insights into what it may mean.
Potential Buyers Or Open House Aficionados?
An open house will mean that many people can see your house at the same time, which can save the time and energy that goes into multiple viewings, but open houses can also attract many people that have no intention to buy. With so many people interested in the interior of a home or the houses in a particular neighborhood, open houses can actually attract more curiosity than actual offers. While an open house can be a great way to create interest, private viewings can be more indicative of how interested the viewer really is.
Living In Your Home Or Merely Showing It
The effort that goes into properly staging a home for public viewing can be quite considerable depending on how long your house is on the market. While an open house will get many viewers in and out on the same day, a bevy of private viewings can mean that a lot more energy will be spent cleaning up your home, which may make you feel like you live in a show home. It’s worth considering how much time you want to spend staging your home before deciding if an open house will work for you.
A Private Home Or A Public Place
You may be leaving your old, familiar home behind soon enough, but that doesn’t mean it’s still not a place of refuge and privacy from the outside world. It’s worth realizing that an open house means many people you don’t know will be walking through your home and viewing your possessions, which can be quite disconcerting for some people. This may be acceptable if the benefits outweigh the risks, but if your home is too special a space you may want to consider another avenue.
Open houses can be an important part of getting your house out on the market, but whether or not this option will work for you is dependent on many factors. If you’re wondering about all of the options for viewings and putting your home on the market, you will want to contact your trusted real estate professional for more insight.
Leominster, MA January 8, 2016 – Real estate transactions are complicated and it is important for people to fully understand the process before making a decision to put their home on the market. In an effort to make the process easier for sellers, Attorney David Rocheford Jr. is proud to announce the release of his new book, “Selling Your Home in Massachusetts: How to sell on time, reduce your risk, and move on to your next property.” Rocheford has a real estate law practice and is dedicated to helping people sell their homes successfully. Guidelines vary by state, so the book covers everything sellers in Massachusetts need to know in order to understand the law and how to sell properly. It will be released on December 15, 2015 and it will be available on Amazon.com, and on the Rocheford’s website www.TheBestClosings.com.