Posts from August 2015
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25
On Doing Everything Right and Still Making the Wrong Decision
My husband and I are a supposedly elusive breed: the Millennial Homeowner. However, this is not something we are celebrating. Three years ago, newly engaged and living in a new area, we started looking for houses. It was a kind of mania with me, some programming that we needed the house and the big yard and the mortgage to be real adults, to be successful. We had been very careful financially. Both of us are teachers, and we had spent years limiting our spending and living in cheap apartments, squirreling away money for the house of our dreams. My soon-to-be-husband especially was a big saver, quietly amassing over $20,000 dollars in his bank account over two years, while I was not far behind with my own savings. When we moved to a new place, a beautiful, rural area of Virginia that bordered the Chesapeake Bay, our suburbia-raised selves rejoiced. Everywhere we looked were wide-open fields, desolate beaches, roads lined with wildflowers. We went for bike...
24
Rock the Block - Realtors Young Professional Network Volunteer Cleanup
15
Existing Home Sales Rise
With a bailout deal in place, the situation in Greece had little influence on mortgage rates over the past week, and the level of daily volatility declined significantly. The economic data released over the past week also did not have much impact and mortgage rates ended a little lower. The housing data released this week was encouraging. June existing home sales increased 3% from May to the highest level since Feb 2007 and they were 10% higher than a year ago. Strong demand and limited inventory continued to push prices higher and the median existing home price reached an all-time high. Total housing inventory did increase slightly in June, but it remains low by historical standards. Existing home sales account for roughly 90% of all single-family home purchases. The most recent reading for the Consumer Price Index (CPI) showed that core inflation continued to hold steady. June Core CPI, which excludes the volatile food and energy components, was 1.8% hig...
13
Sunday Open Houses - Rockford Area
13