Keep up to date with real estate news

Real estate news changes on a daily basis. Keeping abreast of those issues is imperative to make the right real estate decisions. If you want to get daily information on local, national and international real estate news, check out my website at BuyandSellwithBill.com. There are links to the Wall Street Journal, Forbes and Realty News. The sites are constantly updated and are a great source for valuable information.

Home Renovations-Returns on Investment

Many of my clients have been asking me about renovations and updates in their homes and the return in home value. Keep in mind a few important points. If you add bedrooms, baths, garage stalls and additional finished square feet, you will add value to your home. If you are going to repaint, recarpet, add new stainless steel appliances, etc. you will not necessarily add "more value" to your home. You should consider updates as maintenance on your home...just like changing the tires or oil change on a car. Updates will help maintain the value of your home and help it sell FASTER down the road, but not necessarily for more money. I have articles available which discuss this in more detail. Feel free to contact me for copies of these.

More on those mortgage interest rates

On a related note to Tuesday's posting, today's mortgage interest rates are tied more than ever to your credit score. In contrast to a few years ago, now only those with the top credit scores will get the very lowest rates. If you are considering buying or refinancing in the next few months, check with a mortgage broker. Increasing your credit score, even a few points means saving money EACH month. For those with less than perfect credit, there are a number of actions you can take to increase your credit score in a relatively short time.

Mortgage Interest Rates

With mortgage rates hovering around the 5% range it might be a good time for many homeowners to consider refinancing their current home. Be careful though. You should only refinance if you are going to be staying in your home for at least a few years, otherwise the cost of the refinancing will offset the monthly cost savings. If this seems like a possible option for you, I strongly suggest contacting a few different mortgage brokers(I have three different ones located on my website under “Referral List”). Inform them that you are considering a refinance and have them monitor the rates daily. Since rates can fluctuate quite a bit, even within a day, the broker can be working to get you the best rate. An example of this is a couple weeks ago rates dropped to 4 ½ percent for only a couple hours during one day before bouncing back up. This way, as soon as the rates reach your target they can lock you in immediately to get the absolute best rate.