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  The Federal Reserve is raising interest rates after seven years of record lows. But it’s signaling that further rate hikes will likely be made slowly as the economy strengthens further and muted inflation rises. The Fed’s move to lift its key rate by a quarter-point to a range of 0.25 percent to 0.5 percent ends an extraordinary seven-year period of near-zero rates that began at the depths of the 2008 financial crisis. Consumers and businesses could now face modestly higher rates on some loans. The Fed’s action reflects its belief that the economy has finally regained enough strength 6½ years after…

You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections and reports. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end. But the story isn’t over yet. Here are some next steps to consider before you actually move in. Plan any work well in advance: Rarely does a buyer get a place that is truly in “move-in” condition. By the time you’ve signed a contract, you have lots of ideas about how you’ll live in…

How concerned should investors and homebuyers be that we’re headed for another real estate crash as we approach the 10-year anniversary of the infamous 2006-2007 housing bubble? Not at all. Although buyers are paying spectacular prices for commercial properties and trophy homes, just as they did then, this time price increases are being fueled by foreign investors seeking diversification and a haven for their funds, as well as investors on the hunt for a low interest-rate environment. Real estate is still a favorite life raft for nervous investors, who are seeking safety amid market volatility. This has led to record real estate…

You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections, loan applications, due diligence, and packing. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end. But the story isn’t over yet. Here are some next steps to consider before you actually move in. Make Copies of your Closing Documents. The first stop you make after closing should be your local copy shop. While all the documents are still together and in order, make at least one…

In addition to a down payment, you will also have to have sufficient cash on hand to pay for closing costs. The person purchasing the home pays usually closing costs, but with some mortgages (VA for example) the seller can pay closing costs. A little-known fact is that a big part of costs and fees actually go to third parties who process the mortgage, as well as local governments as taxes. The average closing costs percentage is usually about 2-5% of the purchase price. But all cash buyers may end of paying less and high risk buyers getting a loan…