The Current Housing Market Sees More Construction of Single Family Homes Over Multifamily

 This has been a whirlwind of a housing market since the pandemic began. It has been nine years since the number of single-family homes under construction is higher than multifamily construction. Robert Dietz, the National Association of Home Builders Chief Economist reported that up until 2008 that was the norm. Then the financial crisis that led to the Great Recession hit and homeowners moved to rentals in droves. 

The pandemic could be why this trend has taken over. People wanted to get away from the dense areas and were moving out of apartments. More and more people were looking for a single-family home for space to work and school from home. Since the pandemic will this still hold up to be the case?

Multifamily housing starts were 17% higher from 2020. This shows a sign that multifamily construction will start to come back. If homeowners want to go back to living in metro areas, these communities cannot support a large amount of single-family construction. Millennials are the big chunk of first-time homebuyers and cannot afford a single-family home in this housing market. Multifamily units are more cost effcient when it comes to construction and renting. This will probably put multifamily construction back into the lead.

Click Here For the Source of the Information.

Steps To Take To Enhance Your Air Indoor Quality During Allergy Season

 Air indoor quality is important but it is especially important during allergy season. Understanding air quality and how to control it is a must. Allergy sufferers need to especially be mindful of their indoor air quality during peak allergy season, the spring. Triggers such as dust, mold and pet dander are all found indoors. Here are some tips on how to improve your home's air quality.

The First Step Is to Test

Testing indoor air quality is a great way to find out what is in the air of your home that can be harmful to your health. There are many devices to choose from for testing the air, so which do you choose?

When investing in a monitor, look for solutions that monitor all of the key air quality parameters: temperature, humidity, CO2, fine particulate matter and volatile organic compounds,” says Jennie Bergman, senior product manager of indoor environmental quality at Trane Residential. “You can also lean on a trusted local HVAC dealer for a whole-home indoor air quality assessment so you can make an educated purchasing decision based on your own family’s indoor comfort needs and air quality concerns.”

Level Up Your Indoor Air Quality

If the air quality in your home is not up to par, there are many things you can do to improve it. Options range from installing products that help keep the air clean to increasing ventilation through your HVAC unit and regularly changing the filters in your at-home appliances.

The best option is to install a whole-home air-cleaning device. This will remove asthma and allergy triggers. These include dust, pollen, pet hair and dander, dust mites and mildew. Another great thing is to use air cleaners. These will reduce airborne pollutants and certain bacteria.

Picking the Right Products

Just like with anything else, choosing the right product is important. The air-cleaning system you choose must be certified as asthma and allergy-friendly.

“When seeking out air-filtration products, look for certified products from trusted parties,” Bergman says. “Allergy Standards Ltd. and the Asthma and Allergy Foundation of America run the Certified Asthma & Allergy Friendly® program.”

Keep Up the Quality

Improving the air is the first step, once this is completed, then it must be maintained. A simple solution to this is to change your filters more often.

“Dirty filters restrict airflow, making your system work harder and reducing its efficiency,” she says. “A good rule of thumb is to change your filter every season. Regular cleaning or changing of your filter will ensure the best filtration, increase the life of your machine and give you peace of mind that you’re breathing easier.”

Comfort at Home Guaranteed

Having an air quality monitor is a great way to maintain comfort and air quality. These monitors can alert you when your air quality is in question and how you should improve it. A simple option to help alleviate poor air quality is to open the windows or turn on your air filter. By doing these things, you can help eliminate pollutants in your indoor space making it a healthier and allergen-free indoor environment.

Click Here For the Source of the Information.

 

Tips on How To Choose the Best Mortgage Lender

 The current housing market is super hot and has reached record highs and looks to continue this way for the near future. The U.S. housing market is the highest we have seen in 15 years making 2021 the strongest year. This means tons of competition for buyers. This means finding the right lender is a must. The right lender can save both time and money for you as a buyer. Here are some important tips to follow when choosing a mortgage lender.

Look for a straightforward Pre-Approval Process

A pre-approval is very important when it comes to purchasing a home in this market. In fact, this should be one of the first steps in the mortgage lending process. A mortgage lender can help with understanding the requirements and give you a clear picture of how much you can afford.

Most pre-approval processes take into account your income, your debt-to-income ratio (DTI), your FICO score, and your employment history. The right lender can help you get your answers efficiently. They can get you a pre-approval to show sellers when you make an offer.

Think Beyond Mortgage Rates

Mortgage rates are very important but it is not the only factor to look at when you are choosing a lender. Lenders can offer different fees and commissions so shop around and see what different lenders have to offer. You will want to find a lender who is great with communication. This will simplify the process for you and help the process home faster.

Consider the Full Range of Offerings

Almost every lender can offer excellent rates, however not every lender provides a vast array of services. You want to choose a lender that can support you through every stage of the process. A dedicated lender with an online application process makes for great repeat customers. Lenders take pride in their honest rate quotes, instant loan estimates, and lack of loan officer commission. This means that you will get upfront pricing and a clearer sense of how much you can truly afford.

Remember the right mortgage lender can help you find your dream home for the right price and in a shorter amount of time. A good lender will not only help you with low costs and transparency but will put your best interest first.

Click Here For the Source of the Information.

Tips to Freshen Up Your Home

 Springtime is usually the time for cleaning, hence the phrase "Spring Cleaning." It is also the best time to freshen up your home's look. Here are five things to do to spring up the look.

#1: Clean and Declutter

After being indoors for the winter, your home might be musty and stale. The first step when the weather starts to warm up is to refresh your home. To do this start with dusting blinds, cleaning windows, washing floors, and prepping your porch — don't forget to clean your appliances, dust light fixtures, wipe down doorknobs and light switches and freshen up your front door. If you need to update the smell of your home aromas such as linen and cotton are great choices.

#2: Awaken Your Home With Scent

As mentioned earlier, the scent of your home is important. Infuse your home with spring fragrances. Some of these scents include the calming scent of Lavender & Almond Blossom, the floral hints of Honeysuckle & Raspberry, the fruity sweetness of Vanilla & Pink Papaya, or the tropical freshness of Palm Breeze. To do this you can use an Air Wick Essential Mist diffuser.

#3: Get Into Blossoms and Houseplants

When springtime comes, people love to buy flowers and plants. The spring is when a majority of plants turn green and bloom. Bringing the outdoors in is a perfect idea for your space. You can do this with houseplants and flowers. Low-maintenance houseplants can be a perfect thing for most anyone to have. Examples are asparagus fern, snake plant, pothos, or philodendron.

#4: Say Yes to Of-the-Moment Hues

Spring colors are another great way to update your home. Use cheerful and bright spring shades to welcome the warm weather. The trend for this year is electrifying hues and muted pastels. Examples include hocking pinks, vibrant azures and canary yellows, along with ocean blues, soft basil greens and pretty lavenders.

#5: Switch Out Textiles

You don't need your heavy duvet during the warmer months. Switch them out for nubby blankets made of lighter linens and cotton throws. This season you will see cottagecore with wildflower prints and pastoral motifs, groovy patterns and highly textured fabric, and boho chic designs.

Remember to mix this season's colors, patterns and blooms together for a nice fresh look. To do this add a nice aroma to create a good mood in your home.

Click Here For the Source of the Information.

Truth and Myths About Improving Your Credit Score

 One of the most important factors for your financial health is your credit score. If you do not have a good credit score, you are more than likely going to have a hard time obtaining a mortgage. So before you think about buying a house, here are some truths and myths about how you can improve your credit score.

1. Truth: Late payments can hurt your credit score

Payment history is a big part of your credit score. In fact, payment history makes up around 35% - 40% of your credit score. Paying bills late is a crime when it comes to your credit health. If you are having a hard time remembering to pay a bill, set an account alert on your phone or calendar to remind you to pay a bill.

2. Truth: You should always use credit cards responsibly

Focus on your credit behavior when calculating your credit score. Be responsible with your credit history because this can improve your credit score. Do not spend over your means and try to pay the balance in full each month.

3. Truth: It’s important to stay below your credit card limits

You should not max out your credit cards. This can raise a red flag about your ability to handle debt. Do not use over 30% of your available credit to avoid this. If you have a limit of $1,000 on your credit card, you should not have a balance over $300 month to month.

4. Myth: You shouldn’t review your credit report

This is not true! It is recommended to obtain your credit report once a year.  Keep in mind: by federal law, you are entitled to one free credit report per year from each of the three credit reporting bureaus. There are two kinds of reports that can be pulled for your credit. A soft credit is when you check your credit or a creditor checks your credit to be preapproved. A hard credit report is for when you apply for a new line of credit. It is very important to understand your credit so you can improve it and make sure there are no outstanding balances you have missed.

5. Truth: Having no credit is worse than having bad credit

Again this is a myth because creditors want to see how you handle your debt. Having multiple credit lines is okay however you need to pay on time and keep your balances low. If you have no credit, think about opening a small credit limit. Never open several credit lines one after the other.

6. Myth: I should close credit lines I’m not using

Closing old accounts that you might not be using at this time, can negatively affect your credit score. Keep the line open with no balance, this is actually more positive than removing it.

Remember your credit score will be taken into consideration when you are getting approved for a mortgage. A higher credit score will allow for a better interest rate. If you get a better rate, you will be able to have a smaller monthly payment.

Click Here For the Source of the Information.

Tips For Turning A Patio Into A Living Room

 An outdoor living space should feel like an extension of your home. This extra living space should be a place that welcomes you with a cozy feel. Here are some tips from the pros for turning your patio into a living room.

1. Add an Awning for a Retractable Ceiling

A retractable ceiling or awning will let you enjoy your outdoor living space rain or shine. This will also allow your space to be a place to go and beath the heat. A retractable awning can make a statement along with giving UV protection. A Sunbrella Shade Fabrics awning is low maintenance. They are water-repellent, mildew resistant, mold resistant, and stain resistant.

2. Pick Patterns that Pop

A patio area is a great place to add colors to make the area pop. Mix and match stripes with solids and go bold. Different patterns and textures can create both dimension and visual interest. To do this, use pillows, or an awning to add color to your outdoor living space.

3. Up the Plushness

Soft areas are a great place to relax and read a book. Invest in soft plush cushions for your patio furniture which will make your seating area cozy. Couches and daybeds make an outdoor area livable. This space will make you want to take your shoes off and relax!

4. Make Space for Your Favorite Hobbies

Listening to music, drinking morning coffee, or reading a book are perfect hobbies to enjoy outdoors. These activities can be easily done in your outdoor living space. You can have different zones with different purposes on the blueprint of your patio. For example, you can have a grilling zone that has an outdoor kitchen, a sitting area with a sofa and coffee table, or a book nook with a nice comfy daybed. To make the area enjoyable you will want to add an awning to the space.

5. Pull it All Together With a Rug

A rug is a great focal point in almost any space. It can anchor a space and create visual interest. Remember you will need an outdoor rug that is made of synthetic materials such as acrylic, nylon and polypropylene.

Remember it is fun to mix up your fabrics and pieces to make a great outdoor space. The summertime is the perfect time to go and relax outdoors.

Click Here For the Source of the Information.

 A drop in growth pushed the housing share of the economy up at the beginning of 2022. The overall GDP dropped at a 1.4% annual rate. This was due to the increased inventories and a jump in imports. The housing's share of GDP rose to 16.7%.

The beginning of the year also saw a 4.8% increase in GDP in terms of residential fixed investment. There will be challenges this year for home construction. There will be a higher interest rate due to tightening monetary policy. RFI added 10 basis points to the headline GDP growth rate at the start of 2022.

Housing activities add to the GDP in two ways. First through RFI which stands for residential fixed investment. This measures how home building, multifamily development, and remodeling contribute to GDP. It can do this through the construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes, and brokers’ fees.

Second is the measure of house services and how it affects GDP. This includes gross rents (including utilities) paid by renters, owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units), and utility payments. In the first quarter of 2022 housing services made up 11.9% of the economy, totaling $2.9 trillion on a seasonally adjusted annual basis.

This year the recent interest in housing has definitely affected the economy in a positive way. The shares are near historic norms.

Click Here For the Source of the Information.