21 Aug 2023
By Mark Feder

What Do Appraisers Consider When Valuing a House?

Mortgage
Appraisers consider several factors when valuing a house to determine its fair market value. The goal of the appraisal is to provide an unbiased and accurate assessment of the property's worth. Here are the key factors appraisers consider: Location: The location of the property is one of the most critical factors in determining its value. Proximity to amenities such as schools, shopping centers, parks, public transportation, and the overall desirability of the neighborhood can significantly influence the value. Size and layout: The square footage and layout of the house play a crucial role in its valuation. Larger houses generally have…
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16 Aug 2023
By Mark Feder

Avoiding Becoming House Poor: A Path to Financial Security and Balance

Mortgage Tips
As the housing market continues to evolve, it becomes increasingly crucial for aspiring homeowners to tread carefully and avoid falling into the trap of being house poor. The dream of owning a home should not come at the expense of financial stability and overall well-being. Here are some essential tips to steer clear of this precarious situation: Setting a Sensible Budget: Before even considering purchasing a house, it's imperative to create a comprehensive budget that includes all your income, expenses, and financial goals. Be honest with yourself about what you can afford, considering not only the mortgage but also property…
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14 Aug 2023
By Mark Feder

What’s Ahead For Mortgage Rates This Week – August 14, 2023

Financial Reports
Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rate Holds Steady in July Month-to-month inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022. Core inflation, which excludes volatile food and fuel prices, was unchanged from June’s month-to-month pace of 0.20 percent growth.…
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10 Aug 2023
By Mark Feder

Disputing Your Property Tax Assessment Can Save You Money

Mortgage
Property taxes can be a substantial financial burden for homeowners and property owners. Each year, local governments assess the value of properties to determine the amount of property tax owed. However, these assessments are not always accurate and can result in higher tax bills than necessary. Disputing your property tax assessment is a proactive way to potentially save money and ensure you're paying a fair and equitable amount. Reasons for Flawed Assessments: Property tax assessments are not immune to errors and discrepancies. Several reasons can lead to an inaccurate evaluation of your property: Market Value Misjudgment: Assessors may rely on…
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