Think before you For Sale By Owner

 

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Real Estate - Best Long Term Investment

The Gallup organization just released their April Economy and Personal Finances Poll which asked Americans to choose the best option for long term investment. It was no surprise to us that real estate returned to the top position over other investment categories (gold, stocks/mutual funds, savings accounts/CDs and bonds).

Back in 2011, gold was the most popular long-term investment among Americans. However, with the housing market improving across the U.S. and home prices rising, more Americans now consider real estate the best option for long-term investments.

Visit www.brandyfarris.com for thousands of homes in your area!
 

B.R. ranked No. 2 among U.S. mid-size metros for 2013 business expansions

Baton Rouge and Louisiana have each received a top three ranking in the nation for the high number of business expansions announced on the metro and state level in 2013. In its annual economic development rankings, trade publication Site Selection magazine places Baton Rouge tied for second among all U.S. metros with a population between 200,000 and 1 million for the number of new major projects or expansions announced last year.

Baton Rouge's 46 projects tied it with the Allentown, Pa.-Bethlehem, Pa. metro area, and placed it just two projects behind the No. 1 metro area on the list: Omaha, Neb.-Council Bluffs, Iowa. This year marks the fourth in a row that Baton Rouge has ranked in the top 10 on the list. Last year, the 34 new or expanded projects in the Baton Rouge area was good enough for a No. 4 ranking nationwide.

"Being included on this list four years in a row is a testament to the strength of our region and the momentum underway," says BRAC President and CEO Adam Knapp in a press release.

Site Selection counts projects in its ranking only if they include a capital investment of at least $1 million, create at least 50 jobs, or add at least 20,000 square feet of floor space. Retail, government projects, schools and hospitals are not counted. BRAC says it worked with 15 companies last year that ultimately announced expansions or relocations in the region.

"These projects will result in the creation of over 2,167 new jobs, $112 million in new payroll, and $4.4 billion in capital investment," reads the release from BRAC, which notes the payroll and capital investment figures are both local records.

Site Selection also ranks Louisiana No. 3 among all states for the number of projects it announced last year, per capita. The 180 projects per capita recorded in Louisiana trailed only Ohio and Nebraska. Texas, meanwhile, was awarded the magazine's Governor's Cup for total business developments and expansions in 2013.

Cut the Cost of Maintaining your Home

Upgrade to lower costs

 

 

Homeowners once had to make a choice: the beauty of genuine wood and stone, or the easy maintenance of a man-made alternative. Installing vinyl siding over wood shingles, for example, meant you'd never have to repaint again, but also required sacrificing architectural charm -- and possibly getting kicked off your neighbor's dinner party guest list. Now, though, you can have it all. A new breed of manufactured products available at home centers and specialty shops looks realistic enough to preserve or even boost your home's appearance.

While some of these modern materials are pricier than the natural versions, they will save you money and effort over the long term. Plus, "it's a compelling one-two punch for selling," says Lake Forest, Ill., realtor Carol Russ. "The traditional looks draw buyers in, and then I tell them that they're actually seeing new, super-durable materials." Here are six imitations that might be better than the real deal.

1.  FIBER-CEMENT SIDING
2. CELLULAR PVC TRIM
3. QUARTZ COUNTERTOPS
4. SOLID VINYL FENCING
5. FIBERGLASS ENTRY DOORS
6. CLAD WINDOWS

Mortgage Rates Projected to Rise as Tapering Continues

It is projected that if the Fed continues to cut back on bond purchases that long term mortage rates would start to climb. Many experts felt that Janet Yellen, who replaced Ben Bernanke as Fed Chair, was going to be less inclined to continue tapering bond purchases at the level established.

However in her testimony in front of the Financial Services Committee last week, Yellen made it quite clear that she will in fact continue the current pace of tapering:

“In December, the Committee judged that the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions warranted a modest reduction in the pace of purchases, from $45 billion to $40 billion per month of longer-term Treasury securities and from $40 billion to $35 billion per month of agency mortgage-backed securities. At its January meeting, the Committee decided to make additional reductions of the same magnitude. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings.”
 
What does that mean to a prospective purchaser? Currently, Freddie Mac’s 30 year rate is at 4.28%. Here are the projected interest rates for this time next year:

Biggest Home Seller Mistakes

Home Sales in 2013 Rise to Strongest Level in 7 Years

Daily Real Estate News | Friday, January 24, 2014

The housing market has been experiencing a “healthy recovery” over the past two years, with home sales last year rising to the highest level since 2006, according to the National Association of REALTORS®' latest housing report.
“Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates, and a large pent-up demand driving the market,” says Lawrence Yun, NAR’s chief economist. “We lost some momentum toward the end of 2013 from disappointing job growth and limited inventory, but we ended with a year that was close to normal given the size of our population.”
Existing-home sales rose 1 percent in December 2013 compared to November and reached a seasonally adjusted annual rate of 4.87 million.
Existing-home sales for all of 2013 reached 5.02 million sales, 9.1 percent higher than 2012, and the largest rise since 2006 when sales were at 6.48 million at the close of the housing boom, NAR reports.
Home prices were also on the rise in 2013, up 11.5 percent over 2012, with a median existing-home price of $197,100 last year compared to $176,800 in 2012. It was the strongest gain in home prices in a year since 2005, when home prices rose 12.4 percent, NAR reports.
NAR President Steve Brown says that with job growth expected this year, home sales should hold despite rising home prices and higher mortgage rates.
“The only factors holding us back from a stronger recovery are the ongoing issues of restrictive mortgage credit and constrained inventory,” Brown says. “With strict new mortgage rules in place, we will be monitoring the lending environment to ensure that financially qualified buyers can access the credit they need to purchase a home.”
Housing Recovery Regional Snapshot
Here’s a look at how existing-home sales fared in December and for the year across the country:

• Northeast: Existing-home sales fell 1.5 percent in December but remain 3.2 percent higher than December 2012. Median price: $239,300, up 3.6 percent from year ago levels
• Midwest: Existing-home sales dropped 4.3 percent in December and are 0.9 percent below year ago levels. Median price: $150,700, 7 percent higher than December 2012.
• South: Existing-home sales rose 3 percent in December and are 4.6 percent higher than December 2012. Median price: $173,200, up 8.9 percent from a year ago.
• West: Existing-home sales increased 4.8 percent, but are 10.7 percent below a year ago. Median price: $285,000, up 16.0 percent from December 2012.

By REALTOR® Magazine Daily News