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The Fed and Mortgage Rates
September 25, 2015 /If you’ve been keeping up with recent economic events, you’re probably aware that the Fed has chosen to keep interest rates stable, rather than moving forward with the raise that many experts anticipated. While the American dollar has strengthened, and while unemployment rates have improved more quickly than originally expected (it currently sits at a lean 5.1%), the Fed still decided to take a cautious approach. The Fed has cited a few factors, most notably a weak global market, for its decreased confidence in predictions for inflation. The Fed considers the global economy to be weak for a couple of reasons. The prices of commodities have decreased, and a relatively robust American economy has lowered the price of imported goods. Additionally, while the domestic economy shows encouraging signs of continued improvement, there are still a few worrying trends; many employed citizens, for instance, only work part-time and are still searching for more lucrative, full-time employment. Additionally, the rate of inflation still lies below the Fed’s desired 2%, the ideal rate of inflation for a healthy economy. In the face of a less than ideal global economy, the job market is going to need to strengthen, and the inflation rate must…Read more
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Picking a Mortgage Lender!
September 21, 2015 /For many people, the hardest part about finding a mortgage lender is simply knowing where to start. There are a lot of lenders out there — some small and local, and some large and national — so you shouldn’t feel discouraged if you’re having difficulty getting your search started. This post will aim to make the process of picking a mortgage lender easier by offering some basic advice. We'll also provide contact information for Pickett Street's recommended lender, Cody Touchette (MLO 83216), giving you a quick connection to an expert committed to providing outstanding service. In addition to looking over our guide to picking a mortgage lender, check out Cody's website for more information: The Touchette Team. Where to Start One way to start narrowing down your options is fairly simple: ask friends and family. More specifically, ask your friends and family who own homes for recommendations. If you have a friend who just bought a house and is absolutely thrilled, ask her who she worked with and how she worked with her lender to ensure she got the best deal possible. If you’ve got a cousin who’s been an unsatisfied homeowner for several years, ask him who he worked with and…Read more
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How Pickett Street Is Different than Other Real Estate Agents
September 11, 2015 /Since its inception in 2006, Pickett Street has compiled an impressive resume. However, while you may have heard about Pickett Street’s legendary real estate accomplishments — they recorded 202 sales in 2013 alone — you may not fully understand exactly how Pickett Street manages such Herculean feats. To get an idea about how Pickett Street works, it’s best to compare its team with the average real estate agent. What You Can Expect From Average Agents For the most part, the average real estate agent is a single individual working as a buyer's agent, listing agent, showing specialist, and business owner all at the same time. To put it another way, most real estate agents are trying to singlehandedly hold down at least four different jobs, all of which require significant levels of time commitment and energy. In that case, most real estate agents’ energy is spread pretty thin, and they’re not going to be able to give all of their clients individualized attention. As a result, it’s no surprise that the average real estate agent closes about 8 or 9 sales per year. What You Can Expect From Pickett Street The biggest difference between Pickett Street and other agents is that…Read more
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First Time Home Buyers!
September 10, 2015 /Being a first time home buyer is an exciting experience, but it can also be a little overwhelming. Between mortgage rates, budget restrictions, and the hunt for the perfect location, there’s going to be a lot to consider. The following list will help you narrow your focus so that you can enjoy the exciting aspects of buying a home without all the anxiety. 1) What’s More Important: Location or Square Footage? When you’re buying a home, you’ve got to consider this question carefully. If you want a lot of space on a strict budget, you might have to live farther away from densely populated cultural hubs. However, if you’re committed to buying a swanky new pad in Seattle, you’re going to have to pay more for less space. This isn’t to say that you’ll either have a mansion in the middle of nowhere or pay an exorbitant sum to live in a minuscule cupboard in Bell Town; rather, it’s just important to realize that you may need to make some sacrifices, and so it’s a good idea to decide whether you want to prioritize location or size before making a purchase. 2) Build a Better Budget A house is a…Read more
