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The Mortgage Blog Of Rob Rud

Existing Home Sales Up In September

Existing home sales in the U.S. jumped 2.4% to an annual rate of 5.17 million units, the highest reading since September, 2013 according to the National Association of Realtors. September’s existing home sales exceeded what many economists had previously predicted, though the increase is not yet considered to be above average. Sophia Kearney-Lederman, an economist at FTN Financial said, “the housing recovery continues to move along sluggishly, as consumers are stuck between tight credit standards and limited wage growth.” More here

Sold+28329

Sold+28329

Prepare Your Chimney And Fireplace In Time For Winter

Winter is approaching, and if you have the luxury of owning an indoor fireplace it is time to start cleaning it up and making sure it is working safely and efficiently for those cold winter nights. A few things to do in order to get your home and chimney ready for winter are: Hire a professional chimney sweep to clean and inspect the outside and inside of your chimney and fireplace to be sure it is clear of any creosote build-up. Install or replace batteries in smoke alarms inside your home, also replace batteries in carbon monoxide detectors. And finally, be sure you have a working fire extinguisher close by in case of an emergency. More here

Home Remodeling Spending Expected To Improve In 2015

As the year comes to an end, experts predict home remodeling spending will decline, ending the year 1.9% lower than last year. However, experts expect a jump in remodeling spending as we begin the new year and head into spring buying/selling season. Home sales have a strong correlation with home improvements as people selling their homes usually make small improvements and repairs before the sale, and homebuyers usually make larger improvements within the first year of purchasing. More here

Couple+Painting

Couple+Painting

Tiny Homes Are Not An Emerging Trend

According to many recent news articles, tiny houses are trending across the country, but the latest Census report proves different. The median house size in the United States has increased 25 square feet yearly over the last ten years and is approximately 2,384 square feet, up from 1,525 square feet in 1970. While some may be attracted to smaller living spaces, the average American enjoys large rooms and plenty of living space. Many experts say that homes are indeed getting bigger and are expected to continue to grow over the coming years. More here

Things To Consider When Adding On To Your Home

Thinking about adding on? There are a few important few things you should consider before getting started: Hiring professionals; be sure you hire an architect before hiring a builder. The addition should look as if it was a part of the original design.  Also, thoroughly research prospective professionals before you hire them. Cost; have a clear idea of your budget, but, be realistic. A good resource is CostHelper.com; this site will help you roughly estimate the cost of the project. And finally, prepare yourself for a mess, people will be in and out of your home; it will be noisy and inconvenient at times but, in the end it will be worth it. More here

Home+Plans

Home+Plans

Housing Starts And Permits Increase

Housing starts and permits jumped last month as groundbreaking increased 6.3%, averaging 1.02 million-unit pace annually according to the Commerce Department. With interest rates falling this year, the housing market has made great strides toward recovery since 2007. An economist at Bank of America Merrill Lynch, Michelle Meyers  said, “if you look at the trend, you are still seeing an upward trajectory.” New single-family housing starts increased 1.1% last month, and volatile multi-family homes segment rose 16.7%. More here

Housing+Up

Housing+Up

Nearing Retirement? Watch The Housing Market

If you are nearing retirement and plan to sell your home, buy a new home, or downsize, it’s a smart idea to pay attention to the housing market and educate yourself in order to make the best financial decisions. Paying attention to pending home sales, building permits, new home sales, existing homes sales, home price indexes, and housing starts may help you understand when the best times to buy and sell are. Right now the housing market is making a comeback from the recession and current long-term trends are positive, job growth has increased, there are fewer distressed sales, and homebuilder confidence is up, making it a good time for retirees or soon-to-be retirees to sell and buy. More here

Seniors_House+28229

Seniors_House+28229

Buying May Be Cheaper Than Renting Now

In many locations in the United States, owning a home is less expensive than renting. A recent report by Trulia examining the costs for buying versus renting found that buying a home is approximately 38% cheaper than renting in the 100 largest metropolitan areas. Trulia’s chief economist, Jed Kolko said, “mortgage rates have come back down in the past year, and rents have risen a little more than prices have. Those things together have increased the gap between the cost of buying and the cost of renting. Over the past year, buying has become even more favorable compared with renting.” More here

Fall Home Maintenance Checklist

It’s the perfect time of year to get out and complete some necessary tasks to ensure your home is well-maintained, safe, and looking its best. A few things you should add to your fall to-do checklist are: Clean out your gutters; seal cracks and gaps around doors and windows; inspect your home’s siding and roof, and have a professional inspect your heating system; thoroughly check your fireplace for creosote build-up and soot, and replace any dirty furnace filters. More here

Mortgage Application Activity Increases

According to the Mortgage Bankers Association, U.S. home mortgage applications increased last week, and interest rates dropped. The MBA’s seasonally adjusted index of mortgage application activity grew 3.8%, and their seasonally adjusted index of refinancing applications also increased 5.0%. Additionally, the  loan requests for home purchases, a direct indicator of home sales, also jumped 2.4% for the week ending on October 3rd. More here

Mortgage+Application+28229

Mortgage+Application+28229

 

Contact:

Rob Rud
Senior Division President
Diamond Residential Mortgage
265 Morthland Dr. Ste. E
Valparaiso, IN 46383
Ph: 219-548-2299 ext 2104
Efax: 866-501-3292
NMLS#: 268277

My Website | Email Me

About Rob:

Rob Rud has been a top producing loan originator in Northwest Indiana for 12 years. During his career, Rob has originated over 2,000 mortgages making him not only one of the top originators in NW Indiana, but in the Nation.

Rob is committed to excellence and helping people make their dreams of owning a home or becoming debt free a reality. If you are in need of a loan to purchase or refinance, look no further than Rob Rud or any member of his team at Diamond Residential Mortgage Company. Diamond Residential Mortgage Company is committed to being your lender for life.

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