Set to hike rates, Fed wrestles with low inflation

Set to hike rates, Fed wrestles with low inflation NEW YORK – June 13, 2017 – The Federal Reserve is caught between the unusual tandem of low unemployment and sluggish inflation, a dilemma that poses challenges as policymakers weigh interest rate decisions beginning this week.The Fed almost certainly will raise its key short-term rate by a quarter percentage point to a range of 1% to 1.25% at a two-day meeting that concludes Wednesday, marking its third such hike since December. The move will likely trigger a similar increase in rates for credit cards, adjustable-rate mortgages and home equity loans, Bankrate said.

Source: Set to hike rates, Fed wrestles with low inflation

NAR: U.S. existing-home sales rise 1.1% in May

NAR: U.S. existing-home sales rise 1.1% in May WASHINGTON –June 21, 2017 – Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month.Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, climbed 1.1 percent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April. Last month’s sales pace is 2.7 percent above a year ago and is the third highest over the past year.NAR Chief Economist Lawrence Yun said sales activity expanded in May as more buyers overcame the increasingly challenging market conditions prevalent in many areas.”The job market in most of the country is healthy and the recent downward trend in mortgage rates continues to keep buyer interest at a robust level,” he said. “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”The median existing-home price for all housing types in May was $252,800. This surpasses last June ($247,600) as the new peak median sales price, is up 5.8 percent from May 2016 ($238,900) and marks the 63rd straight month of year-over-year gains.Total housing inventoryat the end of May rose 2.1 percent to 1.96 million existing homes available for sale, but is still 8.4 percent lower than a year ago (2.14 million) and has fallen year-over-year for 24 consecutive months. Unsold inventory is at a 4.2-month supply at the current sales pace, which is down from 4.7 months a year ago.”Home prices keep chugging along at a pace that is not sustainable in the long run,” added Yun. “Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”Properties typically stayed on the market for 27 days in May, which is down from 29 days in April and 32 days a year ago; this is the shortest timeframe since NAR began tracking in May 2011. Short sales were on the market the longest at a median of 94 days in May, while foreclosures sold in 48 days and non-distressed homes took 27 days. Fifty-five percent of homes sold in May were on the market for less than a month (a new high).Inventory data from realtor.com® reveals that the metropolitan statistical areas where listings stayed on the market the shortest amount of time in May were Seattle-Tacoma-Bellevue, Wash., 20 days; San Francisco-Oakland-Hayward, Calif., 24 days; San Jose-Sunnyvale-Santa Clara, Calif., 25 days; and Salt Lake City, Utah and Ogden-Clearfield, Utah, both at 26 days.”With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month,” said Yun.According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased for the second consecutive month, dipping to 4.01 percent in May from 4.05 percent in April. The average commitment rate for all of 2016 was 3.65 percent.First-time buyers were 33 percent of sales in May, which is down from 34 percent in April but up from 30 percent a year ago. NAR’s 2016 Profile of Home Buyers and Sellers — released in late 20164 — revealed that the annual share of first-time buyers was 35 percent.Earlier this month, NAR hosted the Sustainable Homeownership Conference at University of California’s Memorial Stadium in Berkeley. A white paper titled, “Hurdles to Homeownership: Understanding the Barriers,” was released, which honed in on the five main reasons why first-time buyers are failing to make up a greater share of the market.”Of the barriers analyzed in the white paper, single-family housing shortages will be the biggest challenge for prospective first-time buyers this year,” said NAR President William E. Brown. “Those hoping to buy an entry-level, single-family home continue to see minimal choices. The best advice for these home shoppers is to know what you can afford, lean on the guidance of a Realtor® and act fast once an ideal property within the budget is listed.”All-cash sales were 22 percent of transactions in May, up from 21 percent in April and unchanged from a year ago. Individual investors, who account for many cash sales, purchased 16 percent of homes in May, up from 15 percent in April and 13 percent a year ago. Sixty-four percent of investors paid in cash in May.Distressed sales – foreclosures and short sales – were 5 percent of sales in May, uncha

Source: NAR: U.S. existing-home sales rise 1.1% in May

Millions of homeowners miss out on savings

Millions of homeowners miss out on savings NEW YORK – June 29, 2017 – Nearly 4.5 million borrowers are eligible to refinance and lock in savings on their monthly mortgage payments but haven’t done so, according to a new report from Black Knight Financial Services.The average borrower stands to save $260 a month, and nearly 700,000 borrowers could save $400 or more per month, the report shows.However, a rise in interest rates could put current homeowners who did refinance in a bind: Even if they want to move, they may decide it’s unaffordable if their current low interest rate will rise by a point or two when they secure a new loan for a bigger house. The owners who did not refinance, even if they could, won’t have that issue holding them back.”The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance,” says Lynn Fisher, the Mortgage Banker Association’s vice president of research and economics.Why aren’t many current homeowners not refinancing?”Our data doesn’t tell us about motivation,” says Ben Graboske, senior vice president of data and analytics at Black Knight Financial Services. “It leaves us to surmise that the reason is apathy, lack of awareness and education.”Some homeowners may still be underwater on their home loans and unable to refinance yet, owing more than what the home is currently worth. Other owners may have a low credit score blocking them from taking advantage of lower rates.Still, owners likely will have more time to take advantage of today’s low mortgage interest rates.”I don’t think this will be the last opportunity [to refinance into a low rate], but I don’t have a crystal ball,” says Graboske. “There are enough pressures in the market – lenders getting more efficient – that we’re going to have competitive rates around for a while.”Source: “Reason to Refinance: 4 Million Homeowners Are Leaving $1 Billion on the Table,” CNBC (June 22, 2017)© Copyright 2017 INFORMATION INC., Bethesda, MD (301) 215-4688

Source: Millions of homeowners miss out on savings

Homes for sale in Live Oak 20048 Bluff Oak Blvd Tampa Fl 33647

20048 BLUFF OAK BOULEVARD, TAMPA, FL

For Sale

$ Click for current price
4 or 5 BEDROOMS | 4 (4 full ) BATHROOMS | 2612 SQUARE FEET

Looking for some ROOM TO ROAM and some SPACE between neighbors? Want to enjoy a SALT WATER POOL home with a FENCED rear yard and CONSERVATION/WOODED VIEWS? Need a potential IN-LAW suite? This 4 or 5 bedroom home boasts 4 full bathrooms, a MUST-HAVE 3 CAR GARAGE and sits on a great home site near the front of the GATED COMMUNITY…so you can get home and off to work quickly. You’ll notice that all of the rooms are large and the HOME FEELS MUCH LARGER than the square footage suggests. The 4-WAY SPLIT bedroom plan is great for all family sizes. The kitchen features 42” SOLID WOOD CABINETS with upper and lower CROWN moldings, GRANITE counters, STONE back splash, GAS range, can lights and WALK IN PANTRY. Just wait until you see the SIZE of the dining room. You’ll be HOSTING the big dinners! You’ll also enjoy the OVER-SIZED MASTER BEDROOM (18×13) with his/hers WALK IN closets, garden bath with DUAL VANITIES and walk in shower. The family room is also OVER-SIZED (16×21) just off the kitchen and features sliders to the lanai/ pool area. Impress your family and guests around the pool area with EXTRA DECKING for entertaining, relaxing or sunbathing. Other features include: UPDATED A/C, TRAVERTINE PAVERS in the front, gas pre-plumbed for OUTDOOR KITCHEN/GAS GRILL, lanai wired for a HOT TUB (hot tub not included) and more. SELLER ALLOWANCE for carpeting and some minor TLC issues for QUALIFIED buyer. This home qualifies for our CASH BACK REBATE when you use our preferred Realtor

View Other Similar Homes in the Live Oak:

Townhomes for sale in Hudson Fl Open House this weekend

11934 GREENGATE DR, HUDSON, FL

OPEN HOUSE
March 19, Sunday 1:00 PM – 4:00 PM

$ Click for current price
3 BEDROOMS | 3 (2 full, 1 half ) BATHROOMS | 1787 SQUARE FEET

Looking for a better than new MAINTENANCE-FREE END-UNIT town home with 3 bedrooms plus a loft on a CONSERVATION home site with loads of NATURAL LIGHT and upgrades? The owners are going to miss the PEACE AND QUIET that they enjoyed living here. Its easy to fall in love immediately when you experience this inviting home. There’s nothing to do here…except move right in and enjoy! The owners have added CROWN MOLDINGS, FANS/LIGHTS in all bedrooms, PENDANT lights in kitchen, CUSTOM CLOSET ORGANIZERS, hanging garage storage, FENCED yard, and EXTENDED, COVERED AND PAVERED LANAI. You’ll enjoy the OPEN FLOOR PLAN as well as the BEAUTIFUL kitchen with breakfast bar, GRANITE COUNTERS, staggered 42” maple cabinets,STAINLESS STEEL appliances, LARGE PANTRY CLOSET and more. The LARGE MASTER BEDROOM is also going to please you with a great CONSERVATION view, french-style entry, CROWN moldings, large walk-in closet with CUSTOM ORGANIZERS, master bathroom with DUAL VANITY SINKS and tasteful tile selections. The other 2 bedrooms are also on the second floor and share a JACK-N-JILL bath and the LOFT AREA can lend itself for a multitude of uses. Other features include: Close to Suncoast Expressway and shopping, located across the street to the COMMUNITY POOL, LOW HOA FEES and more. See it today!

We paid ONLY $500 to sell our Apollo Beach Home

6904 Sail View Lane, Apollo Beach, FL

$ Click for current price
3 BEDROOMS | 2 (2 full ) BATHROOMS | 2066 SQUARE FEET

 This home qualifies for our CASH BACK REBATE when you use our preferred Realtor. Why wait to build in Waterset? Open concept kitchen/formal dining/flex space and Great Room with options for a 4th bedroom. 5 ¼” base boards, chair railings, crown moldings and tray ceilings for that elegant look! This home is energy efficient with features like low E3 windows, Lennox 15 SEER HVAC system and fresh air ventilation system. If a model perfect, almost new, energy efficient home situated on a spectacular corner lot with fenced back yard, pond views and surrounded by luxury homes with over $25,000 in upgrades is what you’ve been looking for, this home is a MUST SEE! No carpet (all tile/laminate flooring). You’ll love the Kitchen with 42″ maple staggered cabinetry, granite counters, tile back splash, stainless steel appliances, and island with breakfast bar and plenty of work space. The dining room features bright open windows with a beautiful view. The great room features crown molding and tray ceilings with sliding doors to the screen/covered lanai and fenced backyard with room for a pool. The large master with tray ceiling features a bath with tile floors, walk-in shower, dual vanity sinks and huge walk-in closet. The 2 additional bedrooms boast spacious closets and share a bath perfect for your family or guests. Walk to the community center with cafe, pool, fitness, walking/bike trails, fishing & spectacular sunsets! Minutes to I-75, US-41, US-301, schools, dining, shopping, St. Josephs hospital and Amazon. 

Other fine Waterset Homes to Consider:

Cash Back Rebates Just Sold in Riverview Bell Creek Preserve

Just Sold in Riverview
CASH BACK REBATE
12223 Creek Preserve Dr
Bell Creek Preserve

Cash Back Rebates home sold in Bell Creek

Click HERE to find out more about:
A. Cash Back Rebate Programs   B. $500 to SELL A HOME Program

Call Tom for complete details: 813-699-0471

Tom Lifrieri

813-996-0471
Visit our website www.NewHomesONLYbyTampaTom.com