Don’t let mortgage misconceptions hold you back from homeownership or real estate investing! The mortgage process can sometimes feel like one of the most intimidating aspects of buying a home. When we talk to clients, we sometimes find that they’re letting misconceptions about borrowing keep them out of the real estate market. We’d like to share with you some recent developments you might want to consider if you’re thinking of purchasing a home or diversifying your investment portfolio into real estate. Mortgage interest rates are trending higher. The average 30-year fixed mortgage rate on home loans is currently around 4.5%, but that rate is projected to approach 5.0% by the end of the year. Although 5.0% is higher than what we’ve seen the past few years, it’s still historically low. Mortgage interest rates are influenced by yields on the 10-year Treasury, the benchmark that helps determine other interest rates. As investors move more money in the 10-year Treasury, the yield decreases, and 30-year fixed rates go lower. Conversely, as money is pulled out of the bond market and put into other investments, the yield increases, and 30-year fixed rates track higher. The 10-year Treasury yield is expected to gradually move […]
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Happy June! If you’re like us, you’re thrilled that warm weather has arrived so you can finally enjoy not only the inside of your home, but the outside too. You’ll get even more enjoyment if your house is in good repair, and you’ve taken measures to address the effects of severe winter weather. Here are a few suggestions for gearing up for summer: Check outdoor spigots for leaks: If you didn’t drain your outdoor water spigots before the weather got cold, ice could have expanded the pipes to the point of bursting. Call a professional to have it checked out if you think you could have a leak, before you end up with a big water bill or flood damage! Reseal exterior woodwork: Extend the life of your decks, fences, railings and other wooden structures by resealing every year or two. (Be sure to scrub or pressure-wash them first – great for the life and look.) Check your roof and gutters: Heat, wind, debris and ice can do a lot of damage up there. Get the roof checked to see if water has gotten to the underlying plywood. Also, have your gutters cleaned to keep your roof in good shape […]
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With the stock market experiencing increased volatility and more experts warning of an impending “Bear Market,” many people are considering real estate as a stable and reliable investment to balance their portfolios. A recent Bankrate survey concluded that 28% of respondents prefer real estate compared to 17% stocks when given the choice of long term investing. As real estate professionals, we’ve seen firsthand the value of investing in real property, from a simple diversification of assets to significant returns on investments. Why Invest? Real estate provides the investor four main benefits. In addition to steady cash flow from rental income, the investor will benefit from appreciation, depreciation, and principal reduction. Unlike a stock, real estate offers a tangible asset for individuals—an actual home in which you could live, if necessary. Here is a little more about the significant financial benefits attainable through investing in real estate: Cash Flow: An investment property—whether it is a condo, townhouse, suburban single-family house or an oceanfront vacation home —could bring positive cash flow from rental income. Tax Advantages: Deductions and depreciation are just two of the tax benefits that may be available to you as an investment property owner. Your tax adviser can help […]
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Save the Date! 4th Annual Dog Adoption Event on May 19th “Happiness is a warm puppy.” —Charles M. Schulz (cartoonist, Peanuts) Spring is the perfect time to welcome a new furry family member into your heart and your home! Please join Lisa Levine and The Hersh Group, your Bethesda neighborhood experts, at their fourth annual adoption event in Bethesda with PetConnect Rescue. We are thrilled to be hosting this event again and helping to provide these wonderful dogs with a new family and loving home. As one of Long & Foster’s top teams in the DC Metro area, our goal is to help people find the right house for their needs. What better way to complete a home than adopt a pet? As the saying goes, a house is not a home without that furry friend. We are pleased to partner again with PetConnect Rescue and the Westwood Pet Center to host this dog adoption event so that more of our neighbors can find the newest additions to their families and give these pets the loving homes they deserve. Please join us: Saturday, May 19th, 2018 11am – 1pm Westwood Pet Center 5428 Westbard Ave, Bethesda, MD For more information, call […]
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Have you checked your smoke detectors recently? It’s always a good idea to check your alarm batteries at the start of a New Year, but for Maryland residents, this January 1st has a more important meaning – it’s the deadline to comply with the new Maryland smoke alarm law aimed at reducing home fire deaths. This law requires that homeowners replace any battery-only smoke alarms that are more than 10 years old with new alarms with a sealed-in batteries with 10-year life spans. According to NBC Washington’s report, “Officials said nationally, two thirds of all home fire deaths occur when there is no smoke alarm or a smoke alarm with missing or disconnected batteries. By requiring a sealed unit, it becomes tamper resistant, and residents don’t have to try to remember to change the batteries.” Here are the law’s key points:
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