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Get the latest news in the August 2020 Ed Powers Newsletter Real Estate Update

For the complete August 2020 Newsletter Click here

Newsletter Content Index:

It’s All About The ’Burbs: In A Time Of Pandemic, More Young Families Are Fleeing The City For The Country

Scoffers label it, ‘panic-moving.’ Others call it common sense. Wherever you stand, there is little doubt that, as the pandemic continues to surge, the flight of families from city to suburbs is picking up steam across the nation.
      “Young New York couples typically put off a move to the suburbs until after the birth of their second child,” said Elizabeth Nunan, president of Houlihan Lawrence, a leading New York residential brokerage. “It gives them time to save some money and enjoy the perks of city living until the need for space and the cost of childcare make the family-friendly suburbs a better choice.”  
      But circumstances

have flipped the concept on its ear.
      “Living in the epicenter of the coronavirus pandemic left most New Yorkers justifiably fearful,” Nunan said. CONTINUED >>>

Preparing Your Home for Sale During the Pandemic

Despite the ongoing coronavirus pandemic, the real estate market must go on. Homeowners still need to sell, house-hunters still need to buy, and real estate agents still need to make a living. But the typical home selling process involves frequent contact with strangers—which is not recommended during this time of social distancing.
      By now, you’re probably getting pretty good at making adjustments in your everyday life to protect the health and safety of yourself and those around you. Along the same lines, there are steps you can take to show your home to potential buyers without risking your health or hurting your chances of a sale. Here are some tips to prepare your home for sale in the coronavirus CONTINUED >>>

Thinking of a Remodel? Here Are Your Financing Options

Should You Refinance From An FHA Loan To A Conventional Loan?

For many first-time buyers, a Federal Housing Administration (FHA) loan is the prudent—and often the only—choice for a mortgage. With the flexible credit and low down payment requirements, an FHA loan makes it easier to qualify than almost any loan out there.  
      However, the ongoing private mortgage insurance (PMI) you have to pay when you have an FHA loan makes your monthly payments more expensive. And, unlike a conventional loan, which allows you to remove your PMI at a certain point, you can never get rid of it with an FHA loan—even when you have tons of equity in your home. So, with rates at historic lows, should you refi out of your FHA loan to a conventional loan? We’re looking at the pros and cons.
Pro: You can get rid of private mortgage insurance (PMI) “FHA loans require certain provisions which sometimes place a heavy burden on a homeowner’s budget, often in the form of premiums paid for mortgage insurance,” said PennyMac. 
      That mortgage insurance on an FHA loan ranges from .45–1.05% of your home loan amount every year. On a
CONTINUED >>>

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles

	July Real Estate Roundup
	Open Shelving in the Kitchen—Yay or Nay?
	The Mortgage Secret That Could Save You Thousands
	Creative Ways To Carve Out A Home Office In Your Place
	How Lenders Set Mortgage Rates

Mortgage Rates 

U.S. averages as of August 2020: 30 Year Mortgage Rates Push Lower

30 yr. fixed: 2.99%
15 yr. fixed: 2.51%
5/1 yr. adj: 2.94%

Message me if your thinking about buying or selling a Fort Collins or Loveland home at m.me/EdPowersRealEstate

Ed Powers Real Estate 970-690-3113 ed@EdPowersRealEstate.com www.EdPowersRealEstate.com

Get the latest news in the July 2020 Ed Powers Newsletter Real Estate Update

For the complete July 2020 Newsletter Click here

Newsletter Content Index:

Thinking of Investing in Rentals With Others?

able to afford a property that might just be out of reach. Think of a fourplex or an apartment building. If you’re thinking of investing in real estate with others, there are some things you CONTINUED >>>

Home Equity Lines Of Credit On The Rise…But Can You Qualify?

The Coronavirus quarantine has you thinking about making upgrades to your home, and that has you thinking about tapping your equity to take out as a home equity loan (HELOC), right? If so, you’re part of a real estate trend that’s sweeping the nation right now.
      A new report from LendingTree found that, “While the total number of home equity loan applications has fallen since January…those who do apply for a home equity loan are more likely to use it to pay for home improvements than they might’ve been at the start of the year.”
      Across the nation’s 50 largest metro areas, “An average of 45.9% of home equity loans are being used to make home improvements,” they said. That’s up from 37.3% in CONTINUED >>>

What Will Homes Look Like In A Post-pandemic World?

Better family gathering space. More comfortable bedroom space. Peaceful and private outdoor space. If those items tick your preferred “quarantine home” boxes, we get it. 
      The truth is that being stuck at home—in a home you don’t necessarily love—stinks. So, we don’t blame you if, while you’ve been sheltering, you’ve been dreaming of what you would change and where you would move given the choice. 
      The good news is that this pandemic is already having an impact on how builders operate, and the very things that are frustrating you about your existing home will likely drive changes to design and architecture in the future.
      “While the coronavirus still rages on, it’s hard to predict what post-pandemic abodes might look like,” said Barrons. “Yet, developers around the U.S. are already rethinking projects, anticipating residents’ needs and CONTINUED >>>

How To Support Anti-racism With Your Home Buying Or Homeowner Dollars

The country was rocked by the murder of George Floyd on May 26, and protests have been erupting all over the world ever since. In the aftermath of Floyd’s death, many companies have spoken out to decry racism and commit their dollars—and their activism—to equality. 
      In that vein, we’re posting a list of companies who have been outspoken in their support of racial equality. For the purpose of this article, we’re focusing on those that are in some way related to buying or selling a home, renovating, decorating, and even celebrating a purchase or home-related milestone. But you can track corporate donations and see a growing list of companies across nearly every type of industry who have taken a stand here.
      This is not meant to be a comprehensive list, and we invite you to add anyone we missed in the comments.
Look to your lender Choosing between financial institutions for a purchase or refi? “Bank of America pledged $1 billion over four years to help communities across the country address economic and racial inequality and said the commitment
CONTINUED >>>

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles

	June Real Estate Roundup
	Rates Drop During Your Lock Period? Here’s What to Do
	Is It Safe To Use Your Community Pool?
	Hot Real Estate Alert: Home Flipping Hits 14-Year High
	Buyer Beware: What You Need To Know About Warranty Companies

Mortgage Rates 
U.S. averages as of July 2020:
30 yr. fixed: 3.13%
15 yr. fixed: 2.59%
5/1 yr. adj: 3.08%

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Get the latest news in the June 2020 Ed Powers Newsletter Real Estate Update

For the complete June 2020 Newsletter Click here

Newsletter Content Index:

Should I Sell Now?

The pandemic has put the world on pause. Should you put your real estate plans on pause, too?
      This article reaches a sizable online audience, so there’s not just one answer to this question. In direct conversation with you—one-on-one—this question could be answered with specific reference to your location, property, finances, and desired outcomes, but there would still not only be one answer to this question.
      Real estate, by its nature and its tremendous location-driven diversity, makes that question open-ended, with many possible answers:
      • Each option has many perspectives.
• Each property is is unique.
• The reasons homeowners love, or are ready to leave, their real estate are unique, too.
      The greatest challenge can be uncovering and CONTINUED >>>

Credit and Coronavirus: What You Need to Know

If you’re one of the thousands of homeowners who is struggling to pay your mortgage and bills right now, safeguarding your credit probably isn’t high on your must-do list. But if you want to make sure your credit stays good—or even improves—despite any economic difficulties, read on for some important updates and tips. 
Government safeguarding credit? There have already been steps taken to safeguard credit for those who enter into a forbearance program. Typically, “Payments that are skipped or only partially paid during a mortgage forbearance period technically violate the original terms of your mortgage loan agreement, so even though your lender agrees to the forbearance plan, they may report your payments as delinquent to the CONTINUED >>>

Are You Ready to Divorce Your House After the Quarantine?

A number of things have happened during this unprecedented time:
      People have had more time to spend together. They’ve also spent that time at home. 
      All that time together has not necessarily helped some relationships. Perhaps not surprisingly, the divorce rate is skyrocketing in countries like China, and now it’s been reported that, “Cooped-up New Yorkers are flooding lawyer phone lines with divorce inquiries — with an avalanche of filings expected once the courts re-open,” said the New York Post.
      But it’s our relationship with our homes that may be the most stressed. A home may function perfectly fine when you’re only there a few hours a day, but this quarantine has shined a light on many a flaw. Here’s how to tell if you’re just done or if your relationship with your house can recover.
It’s not something a CONTINUED >>>

Tele-Maintenance: The Newest Thing in Virtual Service

Medical appointments have gone virtual. Zoom has all but replaced workplace meetings. And now, there’s a new can’t-live-without-it, at-home service we’re loving. Hippo Home Care is now offering free tele-maintenance to help owners keep their home functioning while we’re all hunkered down.
      “Using our free tele-maintenance service, you can talk directly with a Home Pro whenever you have questions or issues around your home,” said Hippo. “We can help. Schedule a complimentary virtual ‘house call’ with a Hippo Home Care Pro who can help you with home maintenance by phone or video.”
      The company has completely shifted to a virtual model for the time being as a service to customers who might not be comfortable having strangers in their house during the pandemic. Customers can schedule a Virtual House Call to troubleshoot specific issues and also use the tele-maintenance service for a complimentary guided Hippo Home Care Home Checkup. “Think of it like getting a car tune-up or a physical, only this one is for your house,” they said. 
      The free
CONTINUED >>>

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles

	May Real Estate Roundup
	Forbearance News: Borrowers Can Now Defer Payments Until The End Of Their Loan
	Could The Corona Virus Provide The Next Boon For Private Mortgage Lending?
	The Things That Matter The Most In Your Credit Report
	5 Outdoor Projects for a Beautiful and Fun Homecation Space

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