If you already own a home or are thinking of purchasing, the new tax legislation pending before Congress poses serious questions.
Economists at the National Association of Realtors estimate that the tax changes could whack 10 percent off average prices around the country, with declines steeper in states with higher home costs and tax burdens, lower in areas with more moderate prices and taxes.
Owners will still be able to "exclude" up to $500,000 ($250,000 for single filers) of gain on their home sales. But to qualify they will need to have lived in their house for five of the preceding eight years- verses two of the preceding five years.
Email your senators and representatives.
Thursday, December 14, 2017
Saturday, December 9, 2017
Latest Mortgage Rates as of 12/9/2017
Fixed mortgage rates have dropped slightly and are at their lowest levels in about a month. Most ARM loans continue to rise.
Here are latest mortgage rates:
Conventional:
- 30 year fixed = 3.875%
- 20 year fixed = 3.75%
- 15 year fixed = 3.375%
- 10 Year ARM = 3.875%
- 7 Year ARM = 3.75%
- 5 Year ARM = 3.75%
- FHA / VA = 30 year fixed rate = 4.00%
- Jumbo (loan amounts over $453,100)
- 30 year fixed rate = 4.125%
- 15 year fixed rate = 3.875%
- 5 year ARM = 3.375%
- 7 year ARM = 3.625%
- 10 year ARM = 3.875%
Please let Scott know if you have any mortgage related questions.
Below is Scott's contact information. I have used Scott's services many times.
Scott Jacobsen
Vice President of Residential Lending
Cell # (630) 673-3103
E-fax # (312) 592-2232
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173
Tuesday, December 5, 2017
Friday, December 1, 2017
Latest Mortgage Rates as of 12/1/2017
Mortgage rates have increased slightly and are at their highest levels in a month. Historically rates are still low.
Here are latest mortgage rates:
Conventional:
- 30 year fixed = 4.00%
- 20 year fixed = 3.75%
- 15 year fixed = 3.375%
- 10 Year ARM = 3.875%
- 7 Year ARM = 3.75%
- 5 Year ARM = 3.625%
- FHA / VA = 30 year fixed rate = 4.00%
- Jumbo (loan amounts over $424,100)
- 30 year fixed rate = 4.125%
- 15 year fixed rate = 3.875%
- 5 year ARM = 3.375%
- 7 year ARM = 3.625%
- 10 year ARM = 3.875%
Please let Scott know if you have any mortgage related questions.
Below is Scott's contact information. I have used Scott's services many times.
Scott Jacobsen
Vice President of Residential Lending
Cell # (630) 673-3103
E-fax # (312) 592-2232
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173
Thursday, November 9, 2017
Energy Efficiency Tips and Fall Home Projects
As cold temperatures approach, you may want to stay indoors and sit by the fireplace. You may not realize it, but it can be easy to hike up energy costs in your home during the fall and winter season.
Now is the best time to start inspecting and preparing your home for the winter climate. Get a head start and use these energy efficiency tips to check up on your home, so you can save on energy costs!
Now is the best time to start inspecting and preparing your home for the winter climate. Get a head start and use these energy efficiency tips to check up on your home, so you can save on energy costs!
- Prevent heat loss through outlets and lighting
- You can lose heat through electrical outlets, light switches, and lighting fixtures. Consider installing foam gaskets or plastic security caps behind these outlets and switches to reduce heat loss.
- Clean the Chimney
- Be sure that all of your systems are working efficiently. It is recommended that homeowners get an annual chimney inspection and cleaning. Pipes should be properly connected and inspected for any signs of rust and/or damage.
- Is your home's insulation up to par?
- Attic insulation can lower heating and cooling costs by as much as $600 per year. A quick way to check if you need insulation is to inspect the attic floor. If the existing insulation comes up to just the tops of the joists, then you probably need to add insulation. For a minimal cost, you can upgrade the insulation in your walls, crawlspaces, basements, and attics.
- Upgrade to energy-efficient windows
- If you have single-pane windows, add storm windows to cut heat loss by up to 50%. Also check to make sure your caulk is in good repair. Check your windows and doors for damaged weather striping.
- Insulate the water heater
- Similar to insulating your walls, insulating the water heater is an easy and inexpensive way to improve your home's energy efficiency each month. If the surface is hot or even warm, some of the energy used to heat the water heater will then heat the house.
Fall Home Projects:
- Clean and reverse fans
- Your ceiling fans have been hard at work all summer. They have gathered more dust than you realize. Turn your fans off, and clean the sides, tops and bottoms of the blades. Reverse your fans so the blades send air upward to disrupt the warm air that collects near the ceiling and disperse it downward. This is particularly effective in rooms with high or vaulted ceilings.
- Clean window treatments
- Use a cordless hand-held vacuum to remove dust from hanging window treatments. If you have hanging curtains, take them down for a gentle launder or tumble in the dryer-on air only. While they're down, clean your windows and sills thoroughly.
- Vacuum and clean furniture
- Vacuum your upholstered furniture, and spot clean the big stains as needed. Always test an inconspicuous area of your furniture before applying any cleaning agent to a main area.
Thursday, November 2, 2017
Monday, October 30, 2017
Saturday, October 21, 2017
Yard Cleanup: Do's and Don'ts
Warm up for at least 10 minutes before raking or starting other heavy exercise.
Don't bend at the waist. Bend at the knees and squat to pick up heavy items. Avoid twisting your back.
Wear shoes with slip-resistant soles.
Don't use a ladder or operate yard equipment if you take medicines that can make you dizzy or drowsy.
Choose tools that are easy to grasp and use.
Last tetanus shot?
Tetanus bacteria live in dirt- and can enter the body through breaks in the skin. Adults should get a tetanus booster shot every 10 years.
Don't bend at the waist. Bend at the knees and squat to pick up heavy items. Avoid twisting your back.
Wear shoes with slip-resistant soles.
Don't use a ladder or operate yard equipment if you take medicines that can make you dizzy or drowsy.
Choose tools that are easy to grasp and use.
Last tetanus shot?
Tetanus bacteria live in dirt- and can enter the body through breaks in the skin. Adults should get a tetanus booster shot every 10 years.
Latest Mortgage Rates as of 10/20/2017
Mortgage rates have ticked up slightly about 0.125% across the board on all products since my last update.
Here are latest mortgage rates:
Conventional:
- 30 year fixed = 4.00%
- 20 year fixed = 3.75%
- 15 year fixed = 3.375%
- 10 Year ARM = 3.75%
- 7 Year ARM = 3.625%
- 5 Year ARM = 3.50%
- FHA / VA = 30 year fixed rate = 4.00%
- Jumbo (loan amounts over $424,100)
- 30 year fixed rate = 4.25%
- 15 year fixed rate = 3.75%
- 5 year ARM = 3.375%
- 7 year ARM = 3.625%
- 10 year ARM = 3.875%
Please let Scott know if you have any mortgage related questions.
Below is Scott's contact information. I have used Scott's services many times.
Scott Jacobsen
Vice President of Residential Lending
Cell # (630) 673-3103
E-fax # (312) 592-2232
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173
Friday, February 17, 2017
Cheering Up Your Home
Bringing Nature Indoors
Add a couple of plants around your home. You can even plant flowering bulbs inside a large bowl. Or you can go to a nearby store and purchase fresh flowers.
Glimmer of Light
Employees at a nearby hardware store can help you find "daylight bulbs" which adds the illusion of sunlight to your home. Have at least three sources of light in any room.
Fur and Fragrance
Add fragrance to a room like a nice candle or spices from your kitchen. Faux fur also creates a pleasing sensory experience to your home.
Add a couple of plants around your home. You can even plant flowering bulbs inside a large bowl. Or you can go to a nearby store and purchase fresh flowers.
Glimmer of Light
Employees at a nearby hardware store can help you find "daylight bulbs" which adds the illusion of sunlight to your home. Have at least three sources of light in any room.
Fur and Fragrance
Add fragrance to a room like a nice candle or spices from your kitchen. Faux fur also creates a pleasing sensory experience to your home.
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