How to Help Kids Understand Your Plan to Move

Some families move frequently from one location to another. While parents do their best to make the transition smooth, kids sometimes have a more difficult time adjusting. After getting used to their way of life, it can be tough to uproot them from the familiar surroundings of home.  Here are some pointers to help make the transition a little bit more kid-friendly:   Treat the move like a big family adventure.   If your children are young, you can narrate it like you are telling a story, when you break the news.  “Once upon a time…”  Nobody knows your kids better than you do, so model your story after one of their favorites. Keep the story light-hearted and interesting, especially if they’re too young to understand details. If you are moving a long distance, make the idea of travel exciting. Talk to them about the scenery and any special sites you might see along the way.   Focus on the positive new things that will be available to your kids in the new location. Perhaps there is a park, swimming pool, or recreation center nearby.  Plan a special day trip to celebrate the completion of your move.  Schedule the event at least a week or two after your move-in date.  This will give everyone something to look forward to, and a break from unpacking. Build a moderate level of anticipation, but never resort to lying or make a promise you may not be able to keep.   Relieve their anxieties about new friends and schools.   Encourage your kids to talk about the upcoming move. This will give you...

Are You a First Time Home Buyer? Avoid These Common Pitfalls

Thinking about owning a home?  Great idea. Or is it? Just the thought can cause a surge of excitement to run through your veins. On the other hand, the commitment required may be causing you sleepless nights; and rightfully so.   Home ownership is an achievement that deserves to be welcomed with open arms. The question is, are you ready for the commitment?   First- timers are often victimized by their own lack of understanding about the process. Given that this is a large financial decision to make, intense preparation is key. So before you sign up for the challenge; do your homework, and take a good look at these common pitfalls:     Financial Readiness   Your credit report reflects your readiness to move on to the next chapter of your life: homeownership. Obtaining a copy of your credit report, before you even start your hunt, is a basic rule. It allows you the opportunity to repair any existing problems and ensure that your score is high enough to meet the lender’s criteria.   Meanwhile you need to know how much you qualify to borrow and what your monthly mortgage payments will be. A minimum down-payment will be required, as well as other charges that apply when the transaction is closed. Make sure you’re left with enough cash on hand to cover unexpected expenses. In any case, consult with an expert to determine if you are really ready commit to the process.   Professional Consultation   When you act on a decision half-heartedly, you may end up being easily distracted and lack the drive necessary to find the...

Are You a First Time Home Buyer? Avoid These Common Pitfalls

Thinking about owning a home? Great idea. Or is it? Just the thought can cause a surge of excitement to run through your veins. On the other hand, the commitment required may be causing you sleepless nights, and rightfully so. Home ownership is an achievement that deserves to be welcomed with open arms. The question is, are you ready for the commitment? First- timers are often victimized by their own lack of understanding about the process. Given that this is a large financial decision to make, intense preparation is key. So before you sign up for the challenge; do your homework, and take a good look at these common pitfalls: 1. Financial Readiness Your credit report reflects your readiness to move on to the next chapter of your life: homeownership. Obtaining a copy of your credit report, before you even start your hunt, is a basic rule. It allows you the opportunity to repair any existing problems and ensure that your score is high enough to meet the lender’s criteria. Meanwhile you need to know how much you qualify to borrow and what your monthly mortgage payments will be. A minimum down-payment will be required, as well as other charges that apply when the transaction is closed. Make sure you’re left with enough cash on hand to cover unexpected expenses. In any case, consult with an expert to determine if you are really ready commit to the process. 2. Professional Consultation When you act on a decision half-heartedly, you may end up being easily distracted and lack the drive necessary to find the perfect home. For a first-time buyer,...

Currently on Market Insights

It has been four years since the recession. What has become of the rental industry? The Industry Insider reports that there is still a steady increase of demand for U.S. lease housing. In that regard, the prices for the said properties are also being driven to the top due to the growing demand. “The rental vacancy rate — or the share of apartments that are vacant and available for rent — declined 0.5 percentage point to 8.2 percent in the fourth quarter compared to the same period a year earlier.” What prompted this decrease in property availability and the increasing number of tenants these days? Notably, there were three apparent factors that were cited in the article: homeowners being foreclosed, thereby renting instead as it is the only immediate choice inability to obtain a mortgage because qualifying standards are higher – with lenders implementing stricter regulations the simple fact that where buying a property is concerned, it is always a high risk transaction. Seeing that property owners are profiting from their investments, others may also follow suit and take part in envisioning more constructions – whether residential or commercial. If supplies do manage to grow steadily, this might also ease the spike momentarily. Then again, as with any trends, there’s still a possibility that all these would take a reverse. Say for instance that rent prices continually increase until such time that the range is impossibly high for families. There will come a point when buying is yet again a more valid option when talking about the long...

News Updates:

Vantage Production‘s Mortgage Market Guide Weekly reports that in the week preceded by the Martin Luther King, Jr. holiday, the activities related to the economic calendar were relatively light. However, the following opportunities still presented themselves despite the seeming quietness that momentarily prevailed. As quoted from the review: “home loan rates reached some of their lowest levels in months” “Existing Home Sales rose by 1 percent from November to December to an annual rate of 4.87 million units” – National Association of Realtors This 1% increase “was the first monthly gain in three months” Compared to 2012, the year 2013 contributed a 9.1% increase in existing home sales. “The housing market continues to rebound, though at a modest pace.” Meanwhile, The Salt Lake Tribune recently published a positive update related to environmental awareness, particularly on a home that “produces only $10 monthly utility bill.” The news clip on Herriman energy-efficient home wins design award reports that the home (designed by KTGY Group, Inc., Architecture + Planning) got a platinum from the 2014 Professional Builder Design Awards competition that was held in California. What’s noteworthy about this achievement is that it’s the “first attainable or affordable house in Utah that achieves a U.S. Department of Energy HERS (House Energy Rating System) rating of O.” Located at 5047 W. Ambermont Drive, the home features a generous three stories and five bedrooms. It won its rating fairly through a strategic design led by the winning team. The make or break features are: “double-paned windows, special frames and seals for windows and doors, four types of insulation and solar panels to produce electricity.”...