Is an investment worth the Rewards?
Tuesday, February 23, 2016
Monday, February 15, 2016
Home Prices are going up again! Check out the Local Market Results, from your Huntington County Realtor Andy Eckert
Photo shoot for our next Metro Net commercial. A big shout out to HU media school program directing the process. It will air in the next 60 days.
Go Real Living Ness Bros leading the pack.
OUR LOCAL MARKET 4th Quarter Results "The Skinny"
Home Prices Are Accelerating Again
Home prices posted a strong growth in closing out the final quarter of 2015, despite a moderating pace of sales, according to a new quarterly report released by the National Association of REALTORS® this week.
NAR reports that the median existing single-family home price rose in 81 percent – or 145 out of 179 metro area – of the markets tracked. Thirty metro areas – or 17 percent – posted double-digit price increases in the fourth quarter of 2015, which trumps the 12 percent of markets that saw double-digit increases in the fourth quarter of 2014.
Tuesday, February 9, 2016
Consider this before downsizing your home, from your Huntington County Realtor, Andy Eckert
Many ups and downs to consider before downsizing
Among retirees who move, half of them choose smaller digs, finds a new study by Merrill Lynch and Age Wave. Less home and yard work, cost cutting and accessing their home equity were the chief reasons for the move.
The rise in real estate values have made the payoff even bigger, say experts at MONEY.com. Home equity, for many baby boomers, far exceeds the value of their 401(k) or IRA.
* Go or stay? Swapping a home in a cold city for a condo in a warm climate should save on your retirement funds. But it takes due diligence to calculate the monthly savings. Moving alone will cost about 10 percent of the price of your old place.
Jan Cullinane, author of The Single Woman's Guide to Retirement, says one couple saved on property taxes and heating but their homeowners insurance was far more expensive.
* Single-family or condo? You'll save on moving expenses by staying in your present area and by having a place with fewer bedrooms. Condos cost less than single-family homes, but you'll pay for shared maintenance and homeowners association fees, which may cover water and yard work. These costs are usually higher than buyers expect.
* Buy or rent? Sometimes renting is better than buying, especially if you want to stay closer to your kids. But the kids themselves might move in a few years. Don't buy unless you want to be there for five years or more.
Instead of buying a home, you might rather put the proceeds of your home sale into your investment portfolio.
* Now or later? Now is better than later. You're likely better equipped for the physical and emotional stress of a move in your sixties than in your eighties.
If government-backed loans haven't increased,how can I get a jumbo loan?
Some home buyers in pricey markets could face higher down payments this year if home prices outrun maximum limits for government-backed mortgages.
For 2016, Fannie May and Freddie Mac have not increased the loan backing from $417 or less or $625 in high-cost cities of California and New York. In those areas, some counties will finance mortgages that are somewhat higher. But not to worry. Most buyers who have to move from government backed mortgages won't get much of a hit on interest rates. One major lender, for example, recently advertised a 30-year fixed-rate jumbo mortgage rate of 4.125 percent. This is only slightly higher than the 3.75 percent rate for government-backed loans.
But you may be stuck with a higher down payment requirement on a jumbo. Fannie Mae and Freddie Mac allow for a down payment of as little as 3 percent. Many jumbo lenders ask 10 percent or even 15 percent. A borrower's credit score also has to be higher when he or she gets a jumbo loan. The hurtle for many buyers moving from a government-backed mortgage is the higher qualifications for getting a jumbo loan. But many people are still qualifying.
One San Francisco mortgage broker said nearly four out of five home buyers need jumbo mortgages in San Francisco, up from less than half of borrowers five years ago. He says buyers in his area often come from the high-paying technology industry and usually have the incomes to pay on a jumbo loan. But they don't have the down payment or six to 12 months of mortgage payments in reserve that the loans require. The broker says most homes in his area cost about a million bucks.
In most parts of the United States, where the median home price is $219,600, the federal mortgage limit isn't a problem.
Tuesday, February 2, 2016
February starts with a Real Estate Sale and....Baby Goats! From your Local Realtor, Andy Eckert
The New Year has started out with the birth of our baby
goats, we have 2 does that produced 4 babies. The oldest goat isn’t the best
for genetics but is the best mom a goat could ask for. This is the last year we
are breading her and her 1 baby didn’t survive the birth. That was very hard to
see and experience as she kept looking for that baby she wanted to love. The
younger goat and her offspring had 3 babies or kids as they’re called in the
goat world, but only 2 survived. This could have been an awful situation had
Stephanie not been there when it all happened; she hand delivered the last 2
and saved their lives. Steph is a crazy good mid-wife for our goats. This goat
struggles with the Motherly instinct her Mother has. We had to bottle feed her
baby last year until she finally warmed up. This year with twins she isn’t
warming up again but is slowly coming around. We have to go to the barn and
hold her as the babies feed for 10 minutes or until full every 4 hrs. Yes folks
that really sucks.
I really enjoy having animals but I have a hard time with
these types of situations, I’m not sure I would have babies again had they all
not survived. This is something I never experienced as a kid because of being a
city slicker and living on my own farm has given me a new perspective.
We also have inherited a new puppy that Sebastian decided
on getting against our wishes, her name is Holly. Holly is a mix of Australian
shepherd, Blue Tick and bunch of Tasmanian Devil. I think mostly of the later.
Buttercup our Beagle has come to realize her lazy days of laying around the
house are over, Holly constantly is nipping at her and wanting to wrestle over
toys, bones and the bed pillow. If I could read Buttercups mind I thing she
would be saying WHAT THE %$#*? Is happening. HELP!!!!!!!
Aleah and Michael are getting ramped up for 4-H that is
just around the corner and that’s scary.
Olivia now has a car so hopefully we will see her more
often and she is in her last semester at IU.
Sebastian dropped this puppy on us as he runs back to
IUPU and is finishing up his Junior year.
I have just finished my most productive year in Real
Estate and will be finishing my CIA certification in Bloomington in March.
As you can see not much dust collects on the Eckert's and
that’s a good thing.
Have a great end of winter and I hope to see you in
shorts in a few weeks.
I'm always available for you or any referrals that you
send my way, Thanks Again for all your support.
Peace Out………………
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