Infographic: Employment Trends in the USA

If you’re having trouble figuring out where all the jobs went, you’re in luck! These are the top locations in the United States where you can find employment, if you’re ready and motivated for a move. Also, these are the 10 worst locations for employment. Spoiler alert: It doesn’t look great for the west coast. We’re not about to jump and head for the east coast, though, not all of us anyway.

The market is never steady, we’ve been well aware of that over the past 20 years, but that doesn’t mean there aren’t bright spots out there. Sure, the job outlook on the west coast isn’t the best, but the “moving out rate” isn’t the worst! People might be moving along the west coast but it doesn’t look like they’re moving from the west coast.

Also, you can learn about the most popular incentives that companies are using to relocate their employees to a different office and keep them happy. It’s amazing, the lengths that some companies go to in order to keep a valuable asset while others are cutting expenses left and right.

This infographic was created by TransitSystems.com, a 20 year veteran in freight and shipping services. If you’re ready a long distance moving company or just planning that small move for a change of scenery, head over to Transit Systems and get your quote.

5 Things to Look for in Free Home Loan Quotes

When considering refinancing or purchasing a home, free home loan quotes can be the ideal resource of information. These quotes will give you the information you need regarding the loan and also give you an idea of what the lenders can offer you. Quotes come to you without any obligation and costs, therefore no risks. But always take the responsibility of ensuring all points of the quotes are given due attention and consideration.

Mortgage lenders can offer you these free home loan quotes online. Just giving your name and kind of loan you are interested in will allow you to get a huge amount of information. These 5 things listed are the most important points to look into in every quote you get.

1. Interest Rate

   The interest rate is the price tag of your loan. Always remember that the lower the interest rate typically means the more house you can afford.

2. Term

   When talking about loans, the word “term” pertains to the length. When securing a home mortgage, it is important that you get the right term. Remember that a short term will mean a higher monthly payment.

3. Monthly Payment

   It is important that you get a good balance of the monthly payment and the term of the loan. Does the quote you requested show you a monthly payment amount that you can afford?

4. Closing Costs

   The closing cost is the amount you will need to pay to be able to purchase a loan. Free home loan quotes provided by mortgage lenders present this information to you first hand. Some others do as well, but if in case they don’t – make sure you ask for it. This becomes very important when you refinance to ensure that in the long run you are saving more money than spending it.

5. Borrowed Amount

   The borrowed amount is the amount you borrow from the lender to buy the home you want. Depending on the location of your mortgage, the price of houses can be quite high so it is important that you make sure your borrowed amount will be enough. If not, look around and see if there is another lender that can and will provide you with the terms you need.

Free home loan quotes provided by lenders give you all the above information. What’s left for you to do is to simply compare the options available. One can have a lower interest rate but a longer term. A longer term means longer payment, so in the end, you still pay more. You may also find out some lenders can be less secure than the others, or that some can offer early payoff options - which some lenders do not offer. There are indeed so many options available.

Real Estate Markets Where Appreciation Happens

What are the Fastest Appreciating Real Estate Markets

CNNMoney.com listed recently the best and worst performing real estate markets. If you check out the real estate values, you will realize that they are more in the local element of a state. This simple means that aside from looking at the bigger, state picture of your home’s market value, it is also important that you consider the local factors of the market – even on your street itself.

Based on the CNN Money forecast, if you are looking for the best place to see appreciation values you should check out homes in Southern California. On the other hand should you want to see the worst, well it is interestingly Hanford, California.

Top performing cities includes:

• Merced, Wyoming
• Washington, California
• Corvallis, Arkansas
• Bremerton, Washington
• Tacoma, Oregon
• Bend, Oregon. 

If you observed, the best performing of these cities belong to the Northwestern portion of the country. And the least performing are in the southern and mid Atlantic.

What This Means to me?

As a prospective home buyer, what does this information mean? They are very important if you look at the local aspects. There is a big possibility that your property will not be affected in any way, whether positive or negative, when there are changes in the nationwide trends.

It is important to know what has been happening in the real estate markets because:

1. The appreciation of home values will mean buying a new home is more expensive. Right now, there is appreciation seen in many local cities, as predicted by experts.
2. The home prices and interest rates are quite low. This only indicates that this is the best, perfect time to purchase a new property because of the great deal you will get. If you check and compare data from 5 years ago, you will see how low the home values now are.
3. If you wait for six months to a year before finalizing the decision to buy a property, you will just be likely to pay more since home values have started to creep back upwards.

Knowing this information, you can now weigh in what you should do. Well, the very first thing would be getting and collecting a mortgage loan quotes to see what your options are. Through these quotes, you will be able to see the costs of purchasing a home now and what interest rates you will be paying –whether it is short term or long term you desire.

Contact your lender and talk to him. Get his estimate of the value of your home. You should not forget, however, that you should take a look at the overall goals you aim for in buying. But my suggestion is that if you are planning to purchase a property in the next six months, might as well move now and get pre-qualified for a home loan and see for yourself how much you will get to save before the costs go up.

The Return of Second Home Buyers and Real Estate Investors

According to the National Association of Realtors, vacation home sales increased, and their numbers are even higher than the sale of primary residences. As per their report, vacation homes sales have increased by 7.9%. Primary residence property sales, on the other hand, have increased only 7.1%. Right now, people who are buying these residences in the Colorado Springs or Denver area are buying because they wanted a vacation home. The numbers have spoken: the investment property sales decreased by 15.9% across the country.

Lawrence Yun, Chief Economist of the National Association of Realtors, said and I quote, “The typical vacation home buyer is making a lifestyle choice, with 9 out of 10 saying that they intend to use the property for vacations or as family retreat. Investment buyers primarily seek rental income, with 6 in every 10 people planning to rent to others, although 1 in 5 wants a family member, friend or relative to use the home.”

Are you interested in buying a second home? Will you use that home to make more money as an investment property or would you use it as your family getaway home? No doubt, you will get to see and find beautiful, affordable propertieds available for you to buy. This is actually the reason why a lot of people are considering buying this property.

Second home buyers are quite popular investors. Most of these people are looking for vacation properties to invest in. This is why cabins and resort community homes are in demand. Most of these properties are low priced due to foreclosure. If you think you are the only one looking for these kinds of properties, think again. There are actually a lot of investors looking to invest in properties like these.

If you want to have an in-depth knowledge of these things, contact your mortgage lender. They can give you all the information you will need and provide you with all the mortgage tools you can take advantage of. They can give you access to an all-inclusive mortgage calculator that will give you the details you will need to be able to get a home loan for a second home. Now is the perfect time to start investing. Start moving now and get your getaway vacation home!

Rent vs. Buy – How Low Interest Rates Make Home Buying Attractive

Is it Better to Rent or Buy?

Always take your time to consider each of your options for purchasing a new home. On the other hand, people who are planning and capable of buying properties can tell that the interest rates are at their lowest ever. What does this mean to you? It simply means that precisely anyone looking can get an affordable home loan.

How ready are you to buy?

A very common question we hear most of the time in this scenario would be “is this the right time to buy?” Well, make sure that you consider all your options before making a decision. At this point, you should think of the rent vs. buy circumstances. Think of the whys. Think of your very own reasons of why now is the perfect time for you to invest.

Consider this:

• At this time, the interest rates are very low. These are the lowest they have ever been and it is unlikely they will not go down any further.
• At this time, lenders are searching for qualified, serious buyers. This simply means that they are willing to give you flexible payment terms should they know you are looking for affordable loans.
• Mortgage Lenders are very much willing to offer the best deals, top quality loans with a diversity of features and terms, to those who have good credit standing. People who think they have quite bad credit should not worry though, because there are lenders willing to offer bad credit loans as well.
• Areas like Colorado Springs and Denver can be considered buyer’s market. There are quite a lot of available properties on the market and surprisingly, they are very affordable even when they are in well established vicinities.
• You can find either FHA loans or VA loans available, which will definitely make your home buying more affordable and easy on the pocket.

Decision Time

When it comes to the decision making part of renting vs. home buying steps, most people start to get confused. Mortgage tools can help answer questions and help identify options available for you. Yes, there even is a rent vs. buy tool available. This is like a compare and contrast tool. It lists down the amounts that can be spent when you lease a property compared to the costs of paying monthly for buying a home. There are a lot of people who find it very easy to use these tools, and this is a good eye opener to those who think they cannot afford to buy their own property yet.

Always, always make sure that you check out all your options before making a decision. Take a look around and you will see that there are indeed quite a lot of cost effective options that will really help you out.

A Good Way to Buy a Home – Short Sales

Three Steps to Securing a Short Sale

A short sale happens when a property is sold way below its market value, so low that it can be considered worth a lot less than its original value. This happens when the homeowner wasn’t able to pay his monthly payment causing the value of the property to decrease. When this happens, the bank that financed the purchase of the home will agree to sell it at a lesser price – to shun foreclosure and extra expenses. Short sales actually give home buyers the chance to buy home cheaply. But always remember that you will only be able to make the most out of it when you know what you’re doing or if you have someone to guide you.

Who has the Upper Hand in Short Sales?

Honestly, short sales are considered infamous since everyone has something to lose. The owner obviously will have bad credit since he isn’t able to pay his monthly mortgage. However, it isn’t as bad as having your home foreclosed. Also, the owner is relieved of debt. The lender on the other hand loses money, but won’t be obliged to go through the legalities and expensive costs of foreclosure. The new home owner, or the buyer, will own a house for much less, although it will need some work. The question now is how can one find a good deal on a short sale?

Step 1: Looking for a Home

When looking for a cheap home to buy, first check the houses in the area that are deemed to foreclose. There are listings everywhere – real estate agencies, your local courthouse, or even online home builders. By using home finder tools available for you, research and know the amount that is owed on the property you are eyeing. Study it and verify if the value indeed went down. The trick here is not to get the home which owes the cheapest amount. It is better to get the property which owes the biggest amount. What does this mean? Obviously, if there is still a huge amount owed, it signifies that the property is quite new. These homes also have owners that have difficulty making payments.

Remember: low value + high mortgage = best short sale option

Step 2: Approaching the Owner

Always make sure that you know the liens and mortgages of a certain property. Of course, the best, most accurate way of doing it would be talking to the owner. Ask the seller if there is a possibility that the property will have a short sale. As opposed to foreclosure, they will be more than happy to entertain you. Define to yourself how much you are willing to spend for the property and where you will get financing. If the lender agrees, the short sale will most probably go through real quick.

The owner should prepare a letter of authorization allowing the lender to speak with you about the loan. It is also required for them to make a letter of hardship and have the bank authorize it. This letter should explain why they can no longer afford the monthly payments. With this letter, you should also include some proof of reasons. When you speak with the lender, make sure you bring these things.

Step 3: Contacting the Lender

When you are interested in buying a property in a short sale, contact the lender. Talk to your agent or the bank to help you with the transaction and make the offer. It is a lot beneficial to have someone experienced to take over the legal stuff and documentations you might need for a short sale. You will be asked to fill out the short sale application from the lender. Bring with you a purchase contract that is signed by the seller and you altogether which states your agreed price. Don’t be so sure, however, that the seller would actually just go ahead and agree with the price you are offering. So to make your chances better, present them with a proof of your income and an offer they cannot reject. Most possibly, they will accept this offer just to avoid the hassle and costliness of foreclosure.

The lender can make a counter offer. In this case, you should expect it. When you make your initial offer, keep in mind your limits. Have a set maximum dollar amount you are willing to spend and if they don’t agree with it, then be ready to walk out. If they accept it, good. You will get to have the house you want at a very low price.

The Top 5 New Home Purchasing Tips

Now is the perfect time to dip your toes in the real estate market and purchase a home. Not only are the interest rates low, but the market is heavy with an astounding amount of homes ready for your choosing. However, before you begin your search, the following tips are sure to help you get ready:

1. Determine How Much You Can Afford:

Before beginning your home search, review your finances and know exactly how much you can afford to spend. Take a look at your monthly income and expenses to determine how much of a down payment you can put down. Don’t forget to factor in real estate taxes and insurance.

2. Work with a Professional:

Select a reputable and successful real estate agent. Not only will they be able to send you homes directly from the Multiple Listing Service, but they can also save you time in your search by weeding out homes that are out of your parameters.

3. Get Pre-approved:

Before you begin looking at homes, speak to a lender and get pre-qualified for your loan. This will help you to find out exactly how much money a bank will lend you and will also come in handy when it’s time to negotiate a price. Educate yourself on the type of loan programs and interest rates that are out there to see which would best suit your family’s needs.

4. Time to Shop for a Home:

Now that you’ve gone over your finances, selected an agent to represent you and have gotten pre-approved, you can start searching for homes. Several factors come in to play like choosing a single family, townhouse or condo; the neighborhood you would like to live in; do you want new construction or a home and area already established; what are the school districts associated with the home? Make sure the real estate agent knows your criteria so you don’t waste any time.

5. Negotiate the Price and Close the Deal:

Once you’ve found the perfect home, it’s time to negotiate the price of purchase. Your real estate agent can give you all the tools necessary to make a fair offer based on homes that are on the market and what they have currently sold for. After you’ve negotiated the price and terms of the contract, hire a reputable home inspector to take a look at the home and determine if it is safe and sound for purchase. Have your real estate attorney thoroughly examine all contracts for your protection. Once your mortgage commitment has been approved, you will be able to close on your home and begin the dream of home ownership.