Amazing Property

When you get a copy of your credit report, you’ll see much more than just the credit accounts you have or had have. You can see your mortgage history, for example. You’ll see the original balance, the current balance, how old or new the mortgage is and what the monthly payments are. Next, you’ll see your payment history which will show any payments made more than 30, 60 and 90 days past the due date. Other credit accounts will show similar information. But the credit report will show more than just your credit accounts. It will also show something else referred to as ‘credit inquiries.’ What’s a credit inquiry? A credit inquiry is simply a third party looking at your credit report. There are two such types of credit inquiries. A hard and a soft inquiry. There is no third inquiry. No ‘In-Between’ type of inquiry. Credit inquiries can have an effect on your overall credit scores, but not all inquiries will. A soft inquiry is one w...

Mortgage Rates Back Above 3%. Will They Keep Rising? | Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. The 30-year fixed-rate mortgage averaged 3.01% this week, posting a sharp rise after spending nearly four months below 3%. Economists expect mortgage rates to continue to increase modestly over the next few months. “Mortgage rates rose across all loan types this week as the 10-year Treasury yield reached its highest point since June,” says Sam Khater, Freddie Mac’s chief economist. “Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation, and emerging energy supply shortages, which compound other labor and materials shortages.” An increase in mortgage rates over the next few months—even though expected to be slight...

If you’ve outgrown your home but don’t want to move, you might be thinking it’s time for a renovation — but that’s not your only option. If you’re after a bit of extra space, a brand-new kitchen and bathroom, or simply an update on your tired home, then you could be considering a renovation. However, an extensive remodel may be more trouble than it’s worth. Plus, if there are any nasty surprises, it could end up costing a lot more than you initially planned. An alternative option is knocking down your house and rebuilding your dream home from scratch — and it could be much easier than you think. Shifting desires With Australians spending more time at home, it’s no wonder that upgrading living spaces is high on the agenda. The pandemic has many of us pondering how to upgrade our homes, according to Anne Flaherty, economist.at realestate.com.au. “People are spending so much time at home with lockdowns, while also working from hom...

2020 hasn’t been the best year for property sales. The market has experienced its biggest decline in almost a decade, slashing agents’ earnings dramatically. For many, this has led to cash flow issues as income has dropped or dried up altogether.  The role that commission plays in the real estate industry means that you need to prepare for unexpected dips. The best way to do this is to take a proactive stance on money matters so that future downturns don’t dent your pocket.  Draw Up A Plan and Budget A cash flow plan and a budget are two essential tools for managing income and expenses. Your plan and budget must cover 12 months, and rather than making it a once-off exercise, revisit those documents regularly, adjusting them as required. When drawing up your budget, include cash contingency plans that offer some relief if unexpected obstacles arise. Your annual projected income and expenses must be added to provide an accurate overview. Additionally...

NSE President,<br />Babagana Mohammed Professionals under the aegis of Ikeja branch of the Nigerian Society of Engineers (NSE) have called on the Federal Government to develop enabling policies and guidelines that would drive the growth of engineering in the country. They stated that it’s important that engineering is properly developed before Nigeria could talk about industrialisation. The experts stated this at the yearly engineering week of the branch entitled, ‘Integrated engineering development as a catalyst for homegrown industrial revolution’ organised by the branch in Lagos. Leading the call, the chairman of the branch, Mr. Olutosin Ogunmola said with the poor state of the economy, it was important to put a spotlight on industrialisation of the economy, which should be anchored on engineering development for home-grown industrial revolution. He said: “We are indeed a struggling nation because Nigeria isn’t a production economy. Any ...

Following persisting unfavourable policies and a full-blown foreign exchange rate crisis that has brought Nigeria’s economy to a halt, property developers and experts have warned that real estate sector would be worst hit, if the situation persists. Apart from the effects on construction cost variations on projects that may force investors to shift completion, a significant part of the nation’s labour force in building and construction industry, mostly artisans from neighbouring countries such as Togo, Benin Republic and Ghana, may leave in droves. They said this will further compound housing affordability of average Nigerians, whose purchasing power has been eroded by the depreciated value of the naira. However, it should be expected that Nigerians, both at home and in Diaspora, in possession of United States of America dollars would take advantage of naira depreciation to buy existing property stocks before price adjustment. The Managing Director, Affordable Housi...

Real estate firms saw business activity increase over the past year as the housing market surged across the country. In 2020, single-office firms had a median brokerage sales volume of $4.5 million and 19 real estate transaction sides, up from $4.2 million and 18 in 2018, according to the National Association of REALTORS®’ newly released 2021 Profile of Real Estate Firms. The biennial survey reflects responses from more than 6,000 REALTOR® executives and senior managers about business activity. Firms with four or more offices posted a median brokerage sales volume of $146.2 million and 571 transaction sides in 2020, an increase from $100 million and 478 sides two years ago, according to the report. Nearly three out of five real estate firms expect profitability or net income from all real estate activities to increase this year too, the survey shows. But they do expect headwinds could undercut some of that growth over the next year. Real estate firms noted the biggest ch...