Real Estate Information Archive

Fannie Mae’s First Quarter National Housing Survey found Americans are more optimistic about home prices, the economy, and their personal finances than they were during the last quarter of 2010. According to the survey, which polled homeowners and renters between January and March 2011, the number of Americans that believe the U.S. economy is on the right track has risen four percentage points since the end of last year. Also, 67 percent of respondents believe now is a good time to buy a house and one in three expect home prices will strengthen in the next year. On average, participants expected prices to increase by one percent. Sixty-six percent of Americans believe buying a home is a good investment and 87 percent said owning is superior to renting. More here.

Buying a home is now cheaper than renting in 4 out of 5 major U.S. cities. And, along with affordable home prices, low mortgage rates, and building economic confidence, the increase in rent makes market conditions ripe for prospective house hunters this spring and summer. Ken Shuman, of Trulia, said people looking to buy a house this summer should be encouraged by improvements in the market and feel optimistic about their chances of finding an affordable home, much more so than in previous years. Conditions are particularly good for buyers looking to stay in their home for at least five years. Because prices are expected to appreciate slowly, industry experts say the market is best for buyers looking to plant roots or find a family home

Chances are that your Coos Bay OR home and your retirement are closely linked to your financial future. Retirement accounts have taken a big hit through the course of the recession and many people are considering tapping into the equity of their homes. Tapping into home equity has become a less frequent option for many home owners over the past couple of years, due to both the lack of equity in homes today and tighter lending principles. 

For those who need money for the funding of retirement or other issues it is safer to borrow equity in a home today than it was four years ago, in theory. Those who borrowed four years ago are more likely to be underwater today, especially when adding up a primary mortgage and a HELOC together.  

Today’s home owner is most likely tapping equity at or near the bottom of the market, so if they have equity today there should be equity in the future, as home values rise again. That being said, borrowing equity is risky and should not be done without consulting an accountant or financial adviser. 

Is the money that you have tied up in your home your best asset for future finances? If so, perhaps selling your Coos Bay home and buying a smaller, less expensive home would make financial sense. This would enable home ownership and free up some capital to invest at the same time. There are options for home owners facing retirement age, education being the key tool for success. 

For the best information on how to use your Coos Bay home to fund your future, contact Jan Delimont, a Coos Bay Realtor with a MBA, at 541-290-1850 or by email today! 

Click here to read an article from Market Watch titled “Tapping Home Equity in Retirement”.

There is much talk in the real estate world about increasing rents.  The decrease in home ownership caused by the bursting of the nation’s housing bubble, combined with an increase in renters has put a big demand on rental markets across the country.  This demand is creating a competitive market that is allowing a climate for rents to increase.

This is a prime example of how owning a Coos Bay home can be more beneficial than renting in certain markets.  Housing is more affordable than it has been in years in the majority of the United States.  Mortgage rates are low, inventories are high, and home values are still falling.  In areas where a monthly mortgage payment is the same or less than monthly rent, home ownership is a wise investment.

The National Association of Realtors has been hosting “Home Ownership Matters”, visiting cities across the nation and educating people on the values of home ownership.  A staggering statistic that they show is that the majority of home owners have a net worth of more than 30 times that of renters.

The mere fact that rents can go up as much as 10%, whereas fixed rate mortgage rates stay the same, make buying a Coos Bay home in today’s market smarter than renting, for those that can afford to buy a home.  Rent is, in essence, paying someone else’s mortgage.

Stop paying someone else's mortage today and contact Jan Delimont, a Coos Bay Realtor, about Coos Bay real estate for sale.  Jan Delimon can be reached at 541-290-1850 or by email.

Click here to read an article from CNN Money regarding the expected increase in rent.

It is possible to update your kitchen on a budget.  Remodeling a kitchen can turn out to be one of the most expensive projects in a home, as the price of new cabinets, new appliances, new plumbing, new counters, and installation can all add up to a hefty price tag.  However, more times than not, a kitchen is what sells a Coos Bay home, and considering the kitchen is one of the most lived in rooms in a home this makes sense.

If you are considering selling your Coos Bay home and don’t have a lot of money to pour into it to prepare it for sale, consider some low-cost improvements that will update your kitchen without breaking the bank.  

• The kitchen sink is a great place to start.  Faucets come in a wide variety of modern forms these days.  A simple faucet replacement can make the area around your sink look new.
• Cabinet knobs and drawer pulls offer another inexpensive kitchen upgrade.  Changing the knobs and drawer pulls can give a fresh look to your cabinets.
• Examine the interior of your cabinets.  Can you replace your current shelves with glide out shelving?  Can the space inside your cabinets and cupboards be reconfigured without total replacement?
• A lot of people feel that granite is the only way to go with counter tops.  There are other options that are less expensive and equally attractive.  Consider engineered surfaces if you counters must be replaced.

Jan Delimont, a MBA certified Coos Bay Realtor, has other ideas on how you can increase the equity of your Coos Bay home for sale without breaking the bank.  Contact Jan Delimont today at 541-290-1850 or by email to find out more about Coos Bay real estate.  

The more the bones of your kitchen remain the same the less expensive remodeling it will be.  Click here

The Coos Bay real estate recovery appears to be picking up speed.  Helping to accelerate the sales of homes is the extremely low cost involved.  While home values may still drop in many areas, it appears that volume may start accelerating.  The high number of foreclosed homes has pushed the prices of home very low in many parts of the country, helping to create extremely reasonable affordability.

An interesting examination of real estate sales data uncovers the fact that cash buyers are representing a large percentage (roughly one third) of the nation’s home sales.  Today’s buyers market is a boon for real estate investors who are clearly seeing that the bottom is here, whether it has already hit or is close to being hit.  January showed that home prices on average were the lowest that they have been in close to a decade.

It is possible to find both positive news and negative news when looking for news about real estate.  As with any information real estate changes from locale to locale, but on the whole the market is seeing signs of recovery.  Those who can afford to buy Coos Bay homes for cash and those who can acquire a mortgage are those who will not be looking back thinking if only I had bought then.

If you don't want to be one of the potential buyers that missed out on Coos Bay real estate, contact Jan Delimont, a Coos Bay Realtor, at 541-290-1850 or by email today.

Click here to read a recent report on how real estate sales are around the nation from Realtor.org.

Remodeling Your Oregon Coast Home, Examining Your Budget

When remodeling your Oregon Coast home, examining your budget is a key element, going hand-in-hand with the physical aspects of the job.  Remodeling and basic improvements can add value to your Oregon Coast real estate and approaching the work with fiscal responsibility will help maximize your profit.

When making changes to your home it is easy to get carried away, adding features and altering products as you go along.  Depending on the scope of your project, hiring a contractor that will design the project and a budget could be the wisest step to make keeping someone financially in charge of the work at hand.

A kitchen remodel can run from $17,000 to over $50,000.  The difference in budget can be related to fixtures, the scope of work, finishes chosen, appliances, and more.  There is high-end and low-end and everywhere in between.  To do a high-end remodel at a low-end price takes a lot of homework and shopping around to find appliances and finishes at discount prices.

After determining your plans and finances what can affect your remodeling budget?

Where you buy your supplies
Who you hire to do the work
Changes to work orders
Cutting corners to save money should be examined at the onset of a project.  Maybe you will decide that you want a Sub Zero refrigerator more than granite counter tops.  Where you add in one area, you can subtract in another.  Just remember that your end result will affect the overall value and appeal of your Oregon Coast home.

Jan Delimont, an Oregon Coast Realtor, would love to help you sell your Oregon Coast home.  Contact Jan Delimont at 541-290-1850 or by email for more information on how to add value to your Oregon Coast home for sale so you that you can get the most out of your home investment.