The job market continues to hear good news as Americans filing for first time unemployment benefits fell to the lowest level since January of 2008. The Department of Labor reported that Weekly Initial Jobless Claims fell by 4,000 in the latest week to 323,000 and below the 336,000 that was expected. The labor markets have been steadily improving, especially with people filing for unemployment checks. [Read more…]
What Women Want In Homes This Mother’s Day
Whether you’re looking to buy a new house this month or do a little remodeling, take advantage of the opportunity to give the mom in your life a present she’ll appreciate every day.
Below are a few ideas for housing priorities and renovation projects that typically rate high on women’s wish lists for their homes.
Open Living Areas
The open floor plan is usually a big plus for any mother. They want to be able to cook dinner in the kitchen while monitoring their children’s schoolwork at the dining table.
So look for a house that affords this visual luxury or consider the generous gift of getting dirty and knocking down some walls.
Large Closets
What woman doesn’t need more room for her clothes, shoes and purses? If you’re looking at houses, keep in mind how much closet space will work for your wife or mother.
If it’s not enough, see if there’s another area you could convert to create a custom closet. Another great gift would be to upgrade your mom’s closet with a new shelving and organizing storage system.
And great storage doesn’t stop in the bedroom. Most women like to keep the family’s things organized and put away, so think about upgrading some of the other cupboards and closets in the home as well.
Low-Maintenance Living
Some women are expert gardeners or love home-improvement projects; however, many just want to leave those tasks to someone else.
Many moms love easy-to-wipe-down granite counters and hardwood floors. These can be beautiful and functional home upgrades all at the same time.
And especially if you’re shopping real estate for an elderly mother, consider looking at Dallas homes that are new construction, have easy-to-care-for landscaping and maintenance-free siding or brick.
Easy-to-Use Security System
While security is important to everyone, it ranks high on most women’s list of priorities. As a Mother’s Day gift, research providers and have a security system installed.
Whether your mother is living alone or your wife is worried about the family’s safety, this practical present will give everyone peace of mind.
Make a big gesture this Mother’s Day by giving the woman in your life that renovation project she’s been pining over.
And, if looking at buying a new home, keep in mind what’s important to Mom.
Finally, if you’d like more tips on Mother’s Day home shopping or upgrades, call your favorite real estate professional for the best advice.
Upswing In April 2013 Jobs Report Signals Good News For Real Estate
The Bureau of Labor Statistics released its monthly Non-farm Payrolls and National Unemployment Rate for April last Friday. These two reports are collectively called the Jobs Report.
165,000 jobs were added in April, while the unemployment rate dropped from 7.60 percent in March to 7.50 percent in April. 673,000 jobs have been added since January. Jobs were added in employment sectors including business and professional, health care and eating and drinking establishments.
The main impact of the jobs report on home sales and mortgage lending is the ability of would-be home buyers to qualify for mortgage loans.
Long term unemployment and under-employment has worked against consumers wanting to buy homes when interest rates and home prices hit significant lows.
Falling Long Term Unemployment Numbers Help New Home Buyers Buy Homes
Long-term unemployment (workers unemployed for 27 weeks or more) fell by 258,000 workers to 4.4 million in April. The share of long term workers among all unemployed fell by 2.2 percent to 37.4 percent of unemployed workers.
Since January, the number of long-term unemployed has decreased by 687,000 workers and 3.1 percent. Gaining employment is a plus for the economy and for households facing financial stress due to unemployment.
Another significant data set in terms of U.S. jobs measures workers who are working part-time, but who want to work full time. This sector increased by 278,000 in April to 7.9 million.
February and March 2013 Non-farm Payrolls numbers were revised upward. In February, jobs added were changed from 268,000 to 332,000. In March, jobs added were revised from 88,000 to 138,000. This adjusts the number of jobs added for February to March by an additional 114,000 new jobs.
Federal Reserve Bond Purchase Point To Continued Low Mortgage Rates
The Federal Reserve is continuing its program of quantitative easing (QE) by buying $85 billion in bonds and mortgage backed securities (MBS) monthly.
Reducing or eliminating QE would lessen the demand for bonds and MBS; when bond and MBS prices fall, mortgage rates usually rise. Lower mortgage rates can help offset rising home prices and allow more consumers to buy homes.
While home prices are gradually increasing, mortgage rates are still low. This helps moderate-income home buyers with affordability, but these conditions won’t last indefinitely.
In some regions, such as the West, available homes and land are in short supply, which is driving up home prices. This trend is helping home owners, and potentially home sellers, gain higher sales prices for their real estate. Overall, increasing the number of jobs is positive for the economy.
Contact your trusted mortgage lender for a personalized mortgage interest rate quote and to learn more about affordable home loan options.
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