Don't forget to spring forward. Daylight savings starts March 13th at 2am.
This gives you an extra hour to look at homes. Call us is you want to schedule a showing tour.
800-915-9174.
Savvy Lane has bridged the gap between for sale by owner and traditional brokerages. We realize real estate is not a one size fits all traditional commission. Our do-it-yourself platform enables our customers to buy and sell real estate for a fixed fee. Join the thousands that have save millions by using our services.
Friday, March 11, 2016
Thursday, March 10, 2016
Testimonial
Don't take our word on how amazing we are, let our reviews speak for themselves.
Give our friendly team a call us should you have any questions on our service or how much you can save listing with Savvy Lane. 800-915-9174 savvylane.com
Wednesday, March 9, 2016
What is your sign?
Savvy Lane has rebuilt real estate from the ground up by combining For Sale by Owner and the traditional process. Using our flat fee MLS service will save you thousands of dollars by eliminating the traditional 6% commission. By listing your property on the MLS and hundreds of real estate websites you will increases your exposure tenfold. Today 98% of buyers start their search online, make sure your property is seen on as many sites as possible with our flat fee MLS options. As a licensed brokerage Savvy Lane will provide access to the MLS, forms, yard signs, lock boxes and support to help you sell like the pros. Our proven technology has transformed the selling process. Savvy Lane has helped thousands save millions on commissions. Join the revolution and let us help you today.
Tuesday, March 8, 2016
How low will interest rates go?
Anders Liljehom seemed to be outsmarting the global economy.
Just a few months ago, virtually every financial expert was warning that years of record-low mortgage rates were about to end. The Federal Reserve was preparing to raise interest rates for the first time since the Great Recession, a move that was supposed to increase the cost of borrowing across the economy.
Liljehom, a 38-year-old from Portland, decided he would act first: He refinanced his mortgage in December, with only days to spare before the Fed raised rates.
But since then, the economy has defied almost every forecast. Analysts are debating the probability of a recession rather than the progress of the recovery. Instead of raising interest rates, the central bank is veering in a far different direction, hoping not to cut them. And that means mortgage rates — much to Liljehom’s chagrin — are lower now than when he refinanced.
“I could have saved more money if I’d waited,” Liljehom said. “My interest rate is still quite low, but it does sting a little knowing it could have been lower.”
It is yet another unanticipated ripple effect of the global economic slowdown: For many Americans, who have benefited from a collapse in gas prices, interest rates have plunged on mortgage and auto loans. The decline in rates comes as most of the readings on the global economy have been glum. China’s meteoric economic growth is starting to plateau, striking fear in investors around the world. The recoveries in Europe and Japan are stalling, and policymakers are having a harder time jump-starting them.
But all that bad news has an upside: ultra-low rates. Analysts are wary of predicting how long this grace period will last, but many consumers are welcoming the extension of easy money that many feared had passed them by.
The drop helps to “create some much-needed breathing room in the household budget,” said Greg McBride, chief financial analyst at Bankrate.com.
Since Jan. 1, the average rate on a 30-year fixed mortgage has dropped from 4.01 to 3.62 percent, according to Freddie Mac. Mortgage rates have sunk to levels not seen in nearly a year and are close to their all-time low, prompting economists to reduce their forecasts for rates in 2016. Full Article
Just a few months ago, virtually every financial expert was warning that years of record-low mortgage rates were about to end. The Federal Reserve was preparing to raise interest rates for the first time since the Great Recession, a move that was supposed to increase the cost of borrowing across the economy.
Liljehom, a 38-year-old from Portland, decided he would act first: He refinanced his mortgage in December, with only days to spare before the Fed raised rates.
But since then, the economy has defied almost every forecast. Analysts are debating the probability of a recession rather than the progress of the recovery. Instead of raising interest rates, the central bank is veering in a far different direction, hoping not to cut them. And that means mortgage rates — much to Liljehom’s chagrin — are lower now than when he refinanced.
“I could have saved more money if I’d waited,” Liljehom said. “My interest rate is still quite low, but it does sting a little knowing it could have been lower.”
It is yet another unanticipated ripple effect of the global economic slowdown: For many Americans, who have benefited from a collapse in gas prices, interest rates have plunged on mortgage and auto loans. The decline in rates comes as most of the readings on the global economy have been glum. China’s meteoric economic growth is starting to plateau, striking fear in investors around the world. The recoveries in Europe and Japan are stalling, and policymakers are having a harder time jump-starting them.
But all that bad news has an upside: ultra-low rates. Analysts are wary of predicting how long this grace period will last, but many consumers are welcoming the extension of easy money that many feared had passed them by.
The drop helps to “create some much-needed breathing room in the household budget,” said Greg McBride, chief financial analyst at Bankrate.com.
Since Jan. 1, the average rate on a 30-year fixed mortgage has dropped from 4.01 to 3.62 percent, according to Freddie Mac. Mortgage rates have sunk to levels not seen in nearly a year and are close to their all-time low, prompting economists to reduce their forecasts for rates in 2016. Full Article
Monday, March 7, 2016
Sales of Existing U.S. Homes Rise to Second-Highest Since 2007
Sales of previously owned U.S. homes unexpectedly rose in January to the second-highest pace since early 2007, indicating the industry will keep prospering.
Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.
Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.
“Consumers are pretty keen to purchase a home,” said Gennadiy Goldberg, an economist at TD Securities in New York. “Slow and steady growth is what we want. It’s really positive for the U.S. economy in general.”
The January sales pace was the second-strongest since February 2007. The median forecast of economists surveyed by Bloomberg called for a 5.33 million annualized rate, with estimates ranging from 5.08 million to 5.55 million. December’s pace was revised to 5.45 million from an originally reported 5.46 million.
Compared with a year earlier, purchases increased 7.5 percent in January before adjusting for seasonal variations. Full Article
Closing Process: The data were volatile in the last two months of 2015 after a change in regulations aimed at consolidating the closing process. The introduction of new forms used by lenders and title companies led to delays in November signings that were subsequently made up in December.
Supply of Homes: Prices have been driven higher because of a lean supply of available houses. The number of previously owned homes for sale fell 2.2 percent from January 2015, to 1.82 million.
At the current sales pace, it would take 4 months to sell those houses, compared with 3.9 months at the end of the prior month. Less than a five months’ supply is considered a tight market, the Realtors group has said.
Home Construction: Residential starts decreased 3.8 percent to a three-month low 1.1 million annualized rate.
Budding wage growth and unemployment at an eight-year low of 4.9 percent in January are conducive to more home sales. Hourly earnings rose more than estimated last month after climbing in the year to December by the most since July 2009.
Closings, which usually take place a month or two after a contract is signed, advanced 0.4 percent to a 5.47 million annual rate, the National Association of Realtors reported Tuesday in Washington. Prices climbed from January 2015 as the number of dwellings on the market fell.
Near record-low mortgage rates, steady job gains and better wage growth are helping encourage prospective buyers, including first-time purchasers. Further strengthening in residential real estate will support the economy and make up for weakness in manufacturing tied to weaker global growth.
“Consumers are pretty keen to purchase a home,” said Gennadiy Goldberg, an economist at TD Securities in New York. “Slow and steady growth is what we want. It’s really positive for the U.S. economy in general.”
The January sales pace was the second-strongest since February 2007. The median forecast of economists surveyed by Bloomberg called for a 5.33 million annualized rate, with estimates ranging from 5.08 million to 5.55 million. December’s pace was revised to 5.45 million from an originally reported 5.46 million.
Compared with a year earlier, purchases increased 7.5 percent in January before adjusting for seasonal variations. Full Article
Closing Process: The data were volatile in the last two months of 2015 after a change in regulations aimed at consolidating the closing process. The introduction of new forms used by lenders and title companies led to delays in November signings that were subsequently made up in December.
Supply of Homes: Prices have been driven higher because of a lean supply of available houses. The number of previously owned homes for sale fell 2.2 percent from January 2015, to 1.82 million.
At the current sales pace, it would take 4 months to sell those houses, compared with 3.9 months at the end of the prior month. Less than a five months’ supply is considered a tight market, the Realtors group has said.
Home Construction: Residential starts decreased 3.8 percent to a three-month low 1.1 million annualized rate.
Budding wage growth and unemployment at an eight-year low of 4.9 percent in January are conducive to more home sales. Hourly earnings rose more than estimated last month after climbing in the year to December by the most since July 2009.
Thursday, March 3, 2016
10 Tips to Prepare your Home for Spring Landscaping
Once the first official frost is no longer a threat, don’t you just want to run out into your yard and start spring landscaping? All winter long the excuse of it being too cold, or everything is covered with snow is no longer an issue. Now that spring is here, gardening, landscaping and increasing your curb appeal is on most people’s minds. Depending on your geographic location and what type of soil and plants are native to your region will steer you in the right direction for your home. Here are 10 tips to also help you prepare your outdoor home for gorgeous landscaping. Full Article
1.) Know your climate: Before you get too excited in the garden area or nursery of your local home improvement store, know the climate for your home. This includes your geographic location on the Earth, as well as the climate of your yard. Choose plants appropriate for how much sun, and shade different parts of your lawn receive during the day.
2.) Do your research beforehand: Similarly to a do it yourself project, plan out your strategy for your landscaping in advance. Are you going to break it up in phases, or are you going to hire a landscape professional to help you plan? Ask for guidance from your local nursery or neighbors who have beautiful landscaping! They can probably give you as good of advice as a professional.
3.) Know what local ‘pests’ are in your neighborhood: While you may think that all of you have to plan for is sun and water for your landscaping, think again – pests such as wildlife, insects, and stray animals can wreak havoc on your landscaping. Plan in advance if you will need fencing, wire mesh, or possibly planting natural plantings can deter and ward off many local pests.
4.) Plant landscaping at the suggested time of year: While you may be excited to plant your fruit trees and flowering shrubs, many plants will thrive better for years to come if you plant them at the suggested times of year that horticulturists and gardeners suggest. Look at gardening websites and ask at your nursery what times are best for the plantings you choose for your outdoor home.
5.) Plan for growth: When choosing landscaping and sizes of plants, estimate how large the plants will grow in 6 weeks, 6 months, etc… If you plant too many small shrubs in front of your living room window, and then find out they are actually small trees, you may have to dig them up soon! Most plants will have height and growth requirements on the pots when purchased from your nursery. Pay attention to these, before you plant.
6.) Get inspired: For some, inspiration comes from looking at neighboring yards, or traveling to other areas of your town to look at landscaping. While others seek inspiration from home and garden publications and satellite television do-it-yourself programs. Often times a stroll through your local home improvement gardening center is all the inspiration to get you motivated.
7.) Map at the area: Once you know what type of plants you’d like at your home, map out, or stake out the area in which your plants will be planted. Estimate enough room for pedestrians walking around, as well as growth and future maintenance of your landscaping. Ensure walkways will have safe areas for footing, and tall plants will not obstruct view lines from inside your home.
8.) Plan for maintenance: Unlike a paint color in your home, once it’s up you’re done, landscaping requires maintenance and care. From pulling weeds, watering and pruning, to occasional replacement of dead plants, etc… Once again, plan what plants will suit your maintenance schedule. Consider hiring a professional gardener or lawn service to take care of your yard if necessary.
9.) Low and high maintenance plants: The beauty of landscaping and gardening is there are plants for every lifestyle, as well as every taste! If your home has a rustic or desert aesthetic, ornamental grasses that grow wild may be more suitable for your home. While if you live in a tropical region, flowering plants and shrubs may be more suitable. Check with a professional to see which ones suit you and your home.
10.) Contrast with your exterior home: Your landscaping should be an enhancement of your exterior home. Choose plants that compliment or contrast the colors in your home as well as the architectural time period of your home. A modern and minimalist home may enjoy a modern Zen-inspired landscape, while a Victorian home may have quaint gardens and flowering areas that are typical for the Victorian era. Plan your outdoor landscaping to be in harmony with your exteriors.
1.) Know your climate: Before you get too excited in the garden area or nursery of your local home improvement store, know the climate for your home. This includes your geographic location on the Earth, as well as the climate of your yard. Choose plants appropriate for how much sun, and shade different parts of your lawn receive during the day.
2.) Do your research beforehand: Similarly to a do it yourself project, plan out your strategy for your landscaping in advance. Are you going to break it up in phases, or are you going to hire a landscape professional to help you plan? Ask for guidance from your local nursery or neighbors who have beautiful landscaping! They can probably give you as good of advice as a professional.
3.) Know what local ‘pests’ are in your neighborhood: While you may think that all of you have to plan for is sun and water for your landscaping, think again – pests such as wildlife, insects, and stray animals can wreak havoc on your landscaping. Plan in advance if you will need fencing, wire mesh, or possibly planting natural plantings can deter and ward off many local pests.
4.) Plant landscaping at the suggested time of year: While you may be excited to plant your fruit trees and flowering shrubs, many plants will thrive better for years to come if you plant them at the suggested times of year that horticulturists and gardeners suggest. Look at gardening websites and ask at your nursery what times are best for the plantings you choose for your outdoor home.
5.) Plan for growth: When choosing landscaping and sizes of plants, estimate how large the plants will grow in 6 weeks, 6 months, etc… If you plant too many small shrubs in front of your living room window, and then find out they are actually small trees, you may have to dig them up soon! Most plants will have height and growth requirements on the pots when purchased from your nursery. Pay attention to these, before you plant.
6.) Get inspired: For some, inspiration comes from looking at neighboring yards, or traveling to other areas of your town to look at landscaping. While others seek inspiration from home and garden publications and satellite television do-it-yourself programs. Often times a stroll through your local home improvement gardening center is all the inspiration to get you motivated.
7.) Map at the area: Once you know what type of plants you’d like at your home, map out, or stake out the area in which your plants will be planted. Estimate enough room for pedestrians walking around, as well as growth and future maintenance of your landscaping. Ensure walkways will have safe areas for footing, and tall plants will not obstruct view lines from inside your home.
8.) Plan for maintenance: Unlike a paint color in your home, once it’s up you’re done, landscaping requires maintenance and care. From pulling weeds, watering and pruning, to occasional replacement of dead plants, etc… Once again, plan what plants will suit your maintenance schedule. Consider hiring a professional gardener or lawn service to take care of your yard if necessary.
9.) Low and high maintenance plants: The beauty of landscaping and gardening is there are plants for every lifestyle, as well as every taste! If your home has a rustic or desert aesthetic, ornamental grasses that grow wild may be more suitable for your home. While if you live in a tropical region, flowering plants and shrubs may be more suitable. Check with a professional to see which ones suit you and your home.
10.) Contrast with your exterior home: Your landscaping should be an enhancement of your exterior home. Choose plants that compliment or contrast the colors in your home as well as the architectural time period of your home. A modern and minimalist home may enjoy a modern Zen-inspired landscape, while a Victorian home may have quaint gardens and flowering areas that are typical for the Victorian era. Plan your outdoor landscaping to be in harmony with your exteriors.
Tuesday, March 1, 2016
Home Sellers Shift Pricing Strategy
Home sellers this season are taking a more grounded approach to pricing than they did in the fall, as buyers grow more selective and less willing to overpay.
In a Redfin survey last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from our October survey. Thirty-two percent said they would price high, down from 34 percent.
“We’ve seen a shift in the right direction toward pricing in the middle range to better encourage multiple offers,” said Will Fassinger, a Redfin agent in Atlanta. “There’s always the fear of becoming a stale listing that scares buyers off or pricing so low that you don’t attract the right buyers. We advise sellers that we don’t have to negotiate a ton to get the preferred price.” Full Article
Economy and inventory are top concerns
General economic conditions continued to trouble sellers, with a third citing it as a top concern. Almost as many were worried about finding another house to buy, echoing the results of our October 2015 survey. A chronically low inventory of properties for sale has created a housing logjam.
“Even with surging home prices, listings were still down three percent in January from a year ago,” said Redfin chief economist Nela Richardson. “Sellers are worried that today’s buyers won’t pay enough for their current home to finance their next-level house.”
In a Redfin survey last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from our October survey. Thirty-two percent said they would price high, down from 34 percent.
“We’ve seen a shift in the right direction toward pricing in the middle range to better encourage multiple offers,” said Will Fassinger, a Redfin agent in Atlanta. “There’s always the fear of becoming a stale listing that scares buyers off or pricing so low that you don’t attract the right buyers. We advise sellers that we don’t have to negotiate a ton to get the preferred price.” Full Article
Economy and inventory are top concerns
General economic conditions continued to trouble sellers, with a third citing it as a top concern. Almost as many were worried about finding another house to buy, echoing the results of our October 2015 survey. A chronically low inventory of properties for sale has created a housing logjam.
“Even with surging home prices, listings were still down three percent in January from a year ago,” said Redfin chief economist Nela Richardson. “Sellers are worried that today’s buyers won’t pay enough for their current home to finance their next-level house.”
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