Cheryl Karr - Your Solid Source Realty Agent

  Sales of newly built, single-family homes in January moved 19% higher than a year ago, as home buyers sought more options under a lean number of existing homes for sale. Newly built single-family home sales increased 4.3% last month over December 2020, reaching a seasonally adjusted annual rate of 923,000, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reported Wednesday. “Historically low mortgage rates and solid demand spurred an increase in new home sales in January,” says Chuck Fowke, chairman of the National Association of Home Builders. “However, rising affordability issues are looming this year, particularly increasing building material costs, including lumber, which is adding $24,000 to the price of a typical newly built home. Builders also cite rising regulatory issues as a potential concern.” As existing-home inventory remains at all-time lows, more buyers are considering new home construction, says Robert ...

  Paying off debt is one of the most worthwhile financial goals you can set for yourself. If you free yourself of obligations to your creditors, it comes with a whole host of benefits. You may be able to raise your credit score, you'll no longer waste money on interest, and you'll free up the cash you were devoting to your monthly payment. Unfortunately, it can take a lot of effort to achieve freedom from debt – especially if you owe a lot of money. As such, you can't afford errors that make the process even more challenging. In particular, here are four big mistakes you'll definitely want to steer clear of. 1. Tapping your retirement accounts Perhaps you're struggling with debt while your retirement account balances are growing. You may be tempted to just pull the money out of your 401(k) or IRA to pay back your creditors and kiss your debt goodbye for good. Unfortunately, this is almost always a really bad idea. First and foremost, if you're under 59...

  Equity is the difference between the value of your property and what you owe on your mortgage, if      you have one.   It’s the share of the property that you actually own, not what the bank owns, until your mortgage payments are completed and you own your property in full. Equity usually means more profit when it’s time to sell.   If needed, it can even provide cash through a home equity loan or cash-out refinance. Unless you have a negative amortization loan or a reverse mortgage, equity automatically increases monthly when you make your mortgage payment.   However, there are way you can grow your equity more rapidly. 1.        It starts when you purchase your home in an “up and coming” market.   If home values in your neighborhood are going up, your property value is rising as well, if you maintain you home. 2.        When buying a home, increase your down payment or, ...