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Rental costs continue to rise

In a Zillow blog post, “Rents Rise as More Americans Flock Back Into Cities,” contributor John Kelly gives yet another reason why buying a home now is a good idea: Rental costs are going up monthly. Census data shows more people, particularly young ones, are moving into the cities, therefore the demand for dwellings is on the up. Kelly points out that many young adults just out of college can’t afford to buy, so they have no other choice but to rent. If renting is a necessity, then rising costs won’t deter people from renting. But before you assume you fall into the cat...

July 18th, 2012 Rental costs continue to rise

Why now is the perfect time to buy…

Owning your home is one of the best, most practical investments you can make to secure your financial future. There are typically two prime times to buy a home: When mortgage rates are low, or when home prices are down. But right now is an exceptionally rare occasion when both of those driving factors are in play. Mortgage rates are hovering at once-in-a-lifetime historically low levels, and home prices are still down, though they are slowly beginning to recover. On top of that, the cost of renting is creeping up nationally and locally. Many people make the false assumption that owning a home ...

July 18th, 2012 Why now is the perfect time to buy…

A penny saved is a mortgage payment for Mass. man

One of the most basic pieces of advice for those trying to save some cash is to keep track of spending closely, because every cent counts and adds up. And for one Massachusetts man, many cents added up to his last mortgage payment. Derek McLean of the Milford Daily News in Milford, Mass. told the story of Thomas Daigle, who in April paid off his last mortgage payment with Milford Federal Savings with more than more 62,000 pennies. Daigle and his wife purchased their Milford home in 1977, and he then decided that he would make the last payment in pennies. So he starting saving about 2.5 pennies...

July 10th, 2012 A penny saved is a mortgage payment for Mass. man

4 tips for financial independence

In spirit of the Fourth of July, Vera Gibbons suggests 4 possible ways to become financially independent in her Zillow blog post, “4 Steps to Financial Freedom.” Refinance. Mortgage rates are still at historic lows, and if you haven’t refinanced in the past few years, you should at least consider it. You could save thousands in interest in the long run, even with the associated fees. Shorten the life of your loan. Rates for 15-year mortgages are even lower by almost 1 percent. You’ll pay less interest because the rate is lower, and because you’re not accruing interest for as long. Pa...

July 5th, 2012 4 tips for financial independence

Home values increase in May

Home values increased for the third consecutive month in May, according to Lauren Riefflin of Zillow, up 0.5 percent from April. While home values continue to decline annually, the decrease from May 2011 to May 2012, which was 0.9 percent, was the smallest decline we’ve seen since October 2007, Riefflin explains. A chart from Zillow on the home value index is shown below. Inventory is tight, and obtaining a mortgage isn’t as easy as it once was, which both work against a housing market recovery. In other news, mortgages rates remained at an all-time low this week, hovering around 3...

June 29th, 2012 Home values increase in May

Things that make a home a good home

When looking to buy a house, people often don’t think about what others value in a home. Of course, what you want is most important, but remember, you may want to sell the home one day. In his blog post, “10 Things That Make a Home a Good Home,” Brandon Desimone looks at 10 qualities that will make a home appealing you to, as well at potential buyers down the road. 1. Location, location, location. As Desimone puts it, you could have the worst house in the world, but if it’s in a good location, it will sell. Location matters on so many levels, as high as town or city, then neighborhood,...

June 26th, 2012 Things that make a home a good home

Acadia Lending Group LLC

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Portland , Maine 04103

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