According to a recent report from the U.S. Department of Commerce, new home sales dropped 10.5 percent last month. This is the second straight monthly drop from last months 5 percent dip in sales.
While the slowdown was more modest in the Midwest and South, the west coast, who has seen rapid sales and increasing prices, experienced close to a 30 percent drop in February sales from the prior month. Sales in the Northeast saw a 13 percent decrease. However, Spring time tends to rejuvenate real estate markets everywhere, and you should expect to see increased activity as the days get longer and the weather gets warmer.
Home Maintenance Help
The internet is a powerful tool for the homeowner. You can find instructions on how to fix almost anything yourself, but sometimes just the general maintenance is the key to saving you both time and money.
Following are some helpful websites that go over everything from repairing your roof to maintaining your garden, and even down to how to clean your coffee maker.
www.AllAboutHome.com
AllAboutHome.com is a ServiceMaster website and gives you seasonal tips, repair information, as well as general maintenance tips. They even have virtual home tours giving you information on anything from roof leaks to getting rid of household pests. They have troubleshooting advise that may save you a call to the repairman, emergency tips, and even have a calculator that will assist you in determining how much materials you need.
http://web1.msue.msu.edu/imp/mod02/master02.html
Another great site is administered by the Michigan State University Extension. It’s a very simple but comprehensive site that allows you to search by key words or look up subjects alphabetically. They have a very wide range of topics including home repair and maintenance and cross reference with other topics.
When to Shop for a Mortgage
Have your loan in place BEFORE you start shopping for a home! Knowing exactly what you can afford and having a pre-approval letter in place before you shop for a new home will demonstrate to the seller that you are a serious buyer.
A pre-approved buyer always has the advantage in an offer situation. Becoming pre-approved is very easy: you complete your loan application with a credit check prior to beginning your home search process. Pre-approval means that you have actually been approved for the purchase by a lender, which gives you the edge in home purchase negotiating.
