Gary Pierpont Blog

Making small upgrades to your home can help increase the value of your house substantially. Even if you have no plans to sell in the near future, remodeling can increase the value for a possible sale later. Experts have put together a list of home improvements that may be worth the cost in order to increase the value of your home, such as adding a new front door or a wooden deck, doing a minor kitchen remodel, and finishing or upgrading a basement. The report also suggests upgrading your garage door, and replacing old windows to increase curb appeal and efficiency. More here

Housing starts jumped last month as more construction workers began their peak working season. Housing starts increased 13.2% to a seasonally adjusted annual rate of 1.07 million, according to the Census Bureau. Multi-family housing construction contributed the most gains and increased 40% from the previous month while single-family starts rose 0.8% from March to April. Additionally home permits have also increased 8% to a seasonally adjusted annual rate of 1.08 million. More here

Home improvement retail stores say that the housing market is still on the right track despite lower sales the last few months. Retailers are saying that the harsh winter slowed sales, not a lackluster housing market.  Now that spring has arrived, sales have increased significantly. Frank Blake, the Chief Executive Officer of Home Depot said, “many indicators in the housing market have softened over the last several months, leading to the question of whether this indicates that the housing recovery has run out of steam.” Home Depot’s revenue increased 2.9% in the first quarter of this year, averaging 19.7 billion. More here

As we continue into storm and hurricane season in the U.S., experts have given a few tips to help homeowners be better prepared for strong winds, flooding, and tornadoes. Don’t wait for a warning in your area to gather flashlights, blankets, batteries, radios and water. Speak with your insurance company and ensure your home is properly insured. Secure your home with roof clips, garage door braces and window shutters. Experts also suggest getting rid of dead trees near your home to decrease tree damage to your house or vehicles. More here

New federal rules have made reverse mortgages a safer choice for a wider range of seniors. An increasing number of financial advisors and experts are now recommending reverse mortgages for seniors needing financial assistance. Advisors are striving to make these loans more attractive to seniors in hopes of growing awareness and knowledge of reverse mortgage benefits. Experts have compiled a list of things to consider when considering a reverse mortgage, such as weighing your costs and future living plans. More here

Experts suggest taking a few hours each week to tend to your home in order to keep it well maintained. Whether you are planning to live in your current home for the next 20 years, or are getting ready to put in on the market soon, homeowners should be actively taking care of their house to ensure proper livability to maintain the current value or raise the value for a future sale. A few things experts suggest doing during the spring season are: check your gutters for leaks to decrease the risk of water damage in your home,  fill in low areas in your yard to lower the chances of flooding which may lead to future foundation damage, check outdoor water faucets for freeze damage, and have a professional heating and cooling contractor service and clean your outdoor air unit in order to keep it working efficiently during the hot summer months. More here

According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey, last week mortgage applications increased 3.6% on a seasonally adjusted basis from the previous week.  The Refinance Index jumped 7% averaging the highest level seen since early April while the Purchase Index fell slightly. Refinance activity made up approximately 50% of all applications.  Additionally, the average national contract interest rate for 30-year fixed-rate mortgages decreased to 4.09% while the average national contract interest rate for 15-year fixed-rate mortgage also fell to 3.48%. More here

When beginning a move many people feel scared, sad, or anxious that their new house or apartment may not feel like “home”, making the process less appealing. Experts have compiled a few tips that will help movers become more excited about their move, and make their new location feel like “home” very quickly. One idea is to add a home security system, which will help put you at ease if you are in a new area. Next, pack up your old house room by room so things will be easier to find, and set up things for your new home in a similar fashion to the old layout if desired. The look will seem familiar to you and help you feel more content. It is also suggested that you protect your belongings during the move by enlisting the help of family and friends. More here

The U.S. luxury-home market is surging this year. Prices of residential properties have significantly increased, and more people are investing in real estate. As the economy and stock market make strides toward improvement, housing market confidence continues to grow. Home purchases for $2 million and up increased 33% in January and February when compared to last year, breaking previous records. According to data, the stock market broke numerous records last year leading to an increase in luxury-home sales. More here

Renter households have been on the rise and home-ownership has fallen among young people since the housing crisis. A new study from Fannie Mae’s National Housing Survey states that younger renters would rather own a home than rent for both financial and personal lifestyle reasons. The reason many younger people are renting is not by choice, according to the data. Potential first-time home-buyers have to deal with extremely high credit standards that in many cases can not be met. More here