Everyone has dreaded home tasks that need to be done in order to keep a well-maintained and efficient home and lifestyle. While some may have time for all the various jobs around the home, others are pressed for time and simply cannot get all the work done on their own. Here are a few tasks you can outsource for a reasonable cost, along with their estimated prices. Cleaning services; on average across the U.S., a cleaning company or maid will charge $196 for a one-time cleaning. If you decide you want a regular cleaner, prices will decrease. Lawn care; depending on how large your yard is, the average costs of lawn care is around $61 for two hours. Handyman; last year on average, Americans paid around $74.18 per hour for handyman services. More here
Tips To Help You Pay Off Your Mortgage Faster
More Americans are attempting to pay off their home loans faster, and according to the recent U.S. Census data, 34% no longer have mortgages. While it may be difficult, there are methods that can help paying off your home more quickly such as, paying extra monthly payments or just adding $100 onto your monthly payment; Refinancing to a lower interest rate but continuing to pay a higher monthly payment. Also, designate any extra money such as odd jobs or bonuses towards your mortgage. Experts say it may not be smart for everyone to pay off their mortgage early, and if you are considering it, you should speak with your financial advisor first. More here
Foreclosure Rates Fall
According to recent data from CoreLogic, the national level of foreclosures decreased 22.2% year-over-year in August with an average of 45,000 complete foreclosures. Anand Nallathambi, CoreLogic’s president and CEO said, “the number of foreclosures completed during the last 12 months is at the lowest level since November of 2007. At current foreclosure rates, the shadow inventory could fall below 500,000 units by year-end which could provide a solid boost to the recovery in housing in 2015.” Although there has been a significant improvement among foreclosure rates in the U.S., foreclosure inventory is still considered high. More here
Job Growth And Millennial Home Ownership May Have Direct Correlation
Data suggests that many millennials are waiting until the job market improves before buying a home. While home affordability has bettered, and interest rates remain fairly low, the majority of the millennial generation is delaying home ownership until they have landed their first professional job. Experts say that millennial home ownership and job growth have a direct correlation and should be watched closely. Jed Kolko, the chief economist at Trulia said, “we should watch closely whether millennial are getting back to work. For millennials, having a job is key to forming households and becoming homeowners. One of the most important measures of the housing market will come in this Friday’s jobs report, when we’ll see whether more young adults have gone back to work.” Additionally, the jobless rate for people ages 25 to 34 sits at 6.9%, and the national jobless rate comes in at 6.1%. More here
Reverse Mortgages Gaining Positive Attention
Reverse mortgages have begun to gain more positive attention as new laws make the option more attractive to both borrowers and loan officers. In the past, there were some concerns, but now that new laws protect the borrower, the option has become safer, and ultimately, more appealing. Reverse mortgages have ensured that many older Americans can stay in their homes by tapping into their home equity, and it’s overall popularity is rising. Many experts are now promoting reverse mortgages to older individuals as a way to escape financial hardship. More here
Americans’ Spending Increases
According to the Bureau of Economic Analysis, Americans are spending more money again, a good sign for the economy. Durable goods purchases increased approximately 2% last month compared to July. Car sales also jumped, which is a positive sign as many people don’t make large purchases when they are not confident in their personal finances. Overall consumer spending jumped 0.5% last month, marking one of the highest gains seen this year. More here
Simple Tips To Increase Curb Appeal
You may not be living in the home you’re trying to sell, but you still have to be sure you are presenting adequate curb appeal to attract quality buyers. Your overgrown shrubs or lack of grass and color may be scaring away more potential buyers than you know. A few things you can do to increase your curb appeal and ultimately sell your home more quickly are: Trim overgrown shrubs and make sure all of your flower beds have fresh mulch. Clean out gutters and wash off siding and porches. Rake or blow off dead leaves from your property and pick up any sticks that may have fallen. Lastly, keep your garden simple, so potential buyers aren’t scared off by the thought of too much maintenance. More here
New Single-Family Home Sales Hit Six-Year High
New single-family home sales significantly increased last month to the highest level in over six years. The housing market continues its impressive rebound. New home sales increased 18.0% to a seasonally adjusted rate of 504,000 units. The chief economist at Mesirow Financial, Diane Swonk said, “this is welcome news in an otherwise mixed outlook. We are still a long way from the housing market recovering from the bust.” More here
New Apps May Aid Home Remodeling Projects
According to recent data from the U.S. Census Bureau, home improvements and remodeling costs have increased in the United States. $130 billion was spent last year on home remodeling; that’s the highest amount seen since 2007. Remodeling can be overwhelming at times, but experts have created new apps that can help make the process more enjoyable. The new apps help connect homeowners with interior designers, contractors and architects that can make projects easier while also saving money. A few apps you may want to check out are Sweeten, Like That Décor and Houzz. More here
Housing Market Confidence Improves
Recent data suggests that housing market confidence remains high. Approximately 50% of Americans believe that home prices will rise over the coming year while only 8% believe home prices will fall. Bankrate.com’s chief financial analyst, Greg McBride said, “when home prices fall, everyone gets a little queasy – homeowners and renters alike. The expectation of continued home price increases underscores an expectation for continued improvement in the job market, household finances and the overall economy.” The Financial Security Index from Bankrate.com was 100.4 this month, showing improvement from last year. More here
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