$67,500 :: 39059 JEFFERSON AVE, Harrison Township MI, 48045

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Property Photo

3 beds, 3 baths
Home size: 1,413 sq ft
Lot Size: 4,791 sq ft
Added: 01/12/16, Last Updated: 02/20/18
Property Type: Single Family
MLS Number: 20722304
Community: Harrison Twp (50015)
Tract: WARREN PARK SUB
Status: Sold

Beat the summer rush on this super cute 2 story Duplex (half) in Harrison Twp!! This open concept home offers a great room with fireplace, large kitchen with dining area and doorwall to deck, 3 bedrooms incl a loft style master suite, 2.1 baths, and a 2 car att garage!! Extra wide drive. Close to Metro Beach and Lake St Clair!!

Listed with Ralph Roberts Realty LLC


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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Why Your Mortgage Is Getting More Expensive

(TNS)—World events are conspiring to make it more expensive for you to borrow money to buy a house.

Mortgage rates have increased for five consecutive weeks, according to Bankrate data, bringing interest on a 30-year fixed rate loan to 4.44 percent—the highest level in 11 months—while home prices continue to rise due to a lack of available homes.

After years of tepid economic growth, animal spirits are aflame. Inflation and wage growth recently found a groove, while the Federal Reserve’s plan to raise short-term interest rates multiple times for a consecutive year has reduced the value of government debt. The yield on 10-year Treasuries is close to a four-year high. (Bond prices and yields are inversely related.)

Oh, and China may reduce its appetite for U.S. bonds.

Homebuyers Should Get off the Fence
Mortgage rates are moved by the yield on 10-year Treasuries, rather than short-term rate hikes by the Fed. That’s why mortgage rates fell throughout 2017, for instance, even as the central bank raised the federal funds rate three times.

Rates remain cheap, however, compared to historical prices. A 30-year fixed-rate mortgage came with an interest rate above 6 percent just before the Great Recession in 2007.

Potential homeowners should get off the fence and make a bid, assuming you have an affordable home target and adequate savings, because rates are likely only heading north.

Why Mortgage Rates Are Increasing
You’ve seen this movie before.

Immediately after the 2016 election, investors sold government debt en masse, causing the 10-year yield to rise from 1.88 percent on November 8 to 2.60 percent five weeks later. That dramatic rise was predicated on investors thinking a newly Republican-controlled Washington would bring about faster economic growth through infrastructure spending and tax cuts.

Optimism waned throughout 2017, though, as the GOP failed to overhaul the Affordable Care Act, casting doubt on their cohesion as a governing party. The long-promised massive infrastructure bill never materialized, while the prospects of a tax overhaul dampened. By the first week of September, the 10-year yield was 2.05 percent.

But then Republicans made progress on a $1.5 trillion tax bill, while the employment picture continued to brighten, and the U.S. economy grew at a solid clip over the last six months of the year.

With Congress agreeing to a $300 billion spending bill—which will only throw more coal on the burning economy—investors see fewer reasons to own bonds. Economic growth and higher pay could result in long-awaited inflation gains. Prices have been rising below the Fed’s 2 percent target, according to the central bank’s preferred prices gauge, for years now.

Higher inflation is a boon for fixed-rate borrowers but hurts debtors. The January jobs report, which showed a 2.9 percent-year-over year earnings increase, was a signal to market observers that inflation may be coming.

Meanwhile, Bloomberg reported in January that China, the largest foreign holder of U.S. debt, may reduce or cease U.S. debt purchases, causing market jitters.

Should You Be Worried?
Given the recent run-up in yields, you may be worried—but don’t panic just yet.

“This is not alarming,” notes Chris Vincent, fixed income portfolio manager at William Blair. “There is no significant drama in the credit markets.”

Markets, after nearly a decade of low rates and low growth, are adjusting to the new normal and corresponding volatility—and while China may own over a trillion dollars of U.S. debt, that’s less than 20 percent of all debt owned by foreign nations, and a fifth of what America owes itself.

You are entering a world where it’s going to become more expensive to borrow money. It’s time to get used to it.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

For the latest real estate news and trends, bookmark RISMedia.com.

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2018 Home Sales Off to Sluggish Start

Blame it on the housing shortage: Existing-home sales posted their largest declines on an annual basis in more than three years. Read more from…

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$350,000 :: 28381 E DULUTH, HARRISON Township MI, 48045

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Property Photo

4 beds, 2 baths
Home size: 2,332 sq ft
Lot Size: 17,424 sq ft
Added: 02/20/18, Last Updated: 02/20/18
Property Type: Single Family
MLS Number: 58031340479
Community: Harrison Twp
Tract: JEFFERSON BRIDGE VIEW SUB
Status: Active

This Riverfront split level home features a 2300+ sqft floor plan with 4 bedrooms and 2 full baths. Several updates including bathrooms, granite tops in kitchen and ceramic backsplash just to name a few. Very large lot with 102 feet of clinton river frontage. Steel piled boat dock can accommodate multiple boats. Schedule a showing today.

Listed with Isles Realty, Inc


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


Continue Reading →

Why Your Mortgage Is Getting More Expensive

(TNS)—World events are conspiring to make it more expensive for you to borrow money to buy a house.

Mortgage rates have increased for five consecutive weeks, according to Bankrate data, bringing interest on a 30-year fixed rate loan to 4.44 percent—the highest level in 11 months—while home prices continue to rise due to a lack of available homes.

After years of tepid economic growth, animal spirits are aflame. Inflation and wage growth recently found a groove, while the Federal Reserve’s plan to raise short-term interest rates multiple times for a consecutive year has reduced the value of government debt. The yield on 10-year Treasuries is close to a four-year high. (Bond prices and yields are inversely related.)

Oh, and China may reduce its appetite for U.S. bonds.

Homebuyers Should Get off the Fence
Mortgage rates are moved by the yield on 10-year Treasuries, rather than short-term rate hikes by the Fed. That’s why mortgage rates fell throughout 2017, for instance, even as the central bank raised the federal funds rate three times.

Rates remain cheap, however, compared to historical prices. A 30-year fixed-rate mortgage came with an interest rate above 6 percent just before the Great Recession in 2007.

Potential homeowners should get off the fence and make a bid, assuming you have an affordable home target and adequate savings, because rates are likely only heading north.

Why Mortgage Rates Are Increasing
You’ve seen this movie before.

Immediately after the 2016 election, investors sold government debt en masse, causing the 10-year yield to rise from 1.88 percent on November 8 to 2.60 percent five weeks later. That dramatic rise was predicated on investors thinking a newly Republican-controlled Washington would bring about faster economic growth through infrastructure spending and tax cuts.

Optimism waned throughout 2017, though, as the GOP failed to overhaul the Affordable Care Act, casting doubt on their cohesion as a governing party. The long-promised massive infrastructure bill never materialized, while the prospects of a tax overhaul dampened. By the first week of September, the 10-year yield was 2.05 percent.

But then Republicans made progress on a $1.5 trillion tax bill, while the employment picture continued to brighten, and the U.S. economy grew at a solid clip over the last six months of the year.

With Congress agreeing to a $300 billion spending bill—which will only throw more coal on the burning economy—investors see fewer reasons to own bonds. Economic growth and higher pay could result in long-awaited inflation gains. Prices have been rising below the Fed’s 2 percent target, according to the central bank’s preferred prices gauge, for years now.

Higher inflation is a boon for fixed-rate borrowers but hurts debtors. The January jobs report, which showed a 2.9 percent-year-over year earnings increase, was a signal to market observers that inflation may be coming.

Meanwhile, Bloomberg reported in January that China, the largest foreign holder of U.S. debt, may reduce or cease U.S. debt purchases, causing market jitters.

Should You Be Worried?
Given the recent run-up in yields, you may be worried—but don’t panic just yet.

“This is not alarming,” notes Chris Vincent, fixed income portfolio manager at William Blair. “There is no significant drama in the credit markets.”

Markets, after nearly a decade of low rates and low growth, are adjusting to the new normal and corresponding volatility—and while China may own over a trillion dollars of U.S. debt, that’s less than 20 percent of all debt owned by foreign nations, and a fifth of what America owes itself.

You are entering a world where it’s going to become more expensive to borrow money. It’s time to get used to it.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

For the latest real estate news and trends, bookmark RISMedia.com.

The post Why Your Mortgage Is Getting More Expensive appeared first on RISMedia.

Continue Reading →

Buyers Use Escalation Clauses to Win Bidding Wars

But escalation clauses aren’t always a winning strategy for either buyers or sellers, housing experts warn.

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$350,000 :: 28381 E DULUTH, HARRISON Township MI, 48045

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Property Photo

4 beds, 2 baths
Home size: 2,332 sq ft
Lot Size: 17,424 sq ft
Added: 02/20/18, Last Updated: 02/20/18
Property Type: Single Family
MLS Number: 58031340479
Community: Harrison Twp
Tract: JEFFERSON BRIDGE VIEW SUB
Status: Active

This Riverfront split level home features a 2300+ sqft floor plan with 4 bedrooms and 2 full baths. Several updates including bathrooms, granite tops in kitchen and ceramic backsplash just to name a few. Very large lot with 102 feet of clinton river frontage. Steel piled boat dock can accommodate multiple boats. Schedule a showing today.

Listed with Isles Realty, Inc


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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$112,500 :: 34325 GENEREAUX, HARRISON Township MI, 48045

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Property Photo

3 beds, 1 bath
Home size: 1,050 sq ft
Lot Size: 6,969 sq ft
Added: 11/27/17, Last Updated: 02/21/18
Property Type: Single Family
MLS Number: 58031335940
Community: Harrison Twp
Tract: JEFFERSON HEIGHTS
Status: Sold

Clean and ready to go. Features remodeled bathroom, large open Kitchen, vinyl windows, C/A, and possible 4th Bedroom or office in semi-finished basement. Deck needs minor repair, plenty of room to add a garage. Great house for the money, motivated seller.

Listed with Real Estate One Inc-Shelby


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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Can Yelp Pinpoint the Next Big Neighborhood?

Yelp reviews may be a key to help find neighborhoods on the edge of gentrification, where higher home prices may be on the horizon.

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$120,000 :: 26972 Carrington, Harrison Township MI, 48045

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Property Photo

2 beds, 2 baths
Home size: 1,210 sq ft
Lot Size: 0 sq ft
Added: 03/14/16, Last Updated: 02/20/18
Property Type: Single Family
MLS Number: 31283095
Community: Harrison Twp (50015)
Tract: Harrison Village Condo
Status: Sold

Back on the market due to buyer’s financing falling through. Inspection and appraisal were completed and no issues! Gorgeous end unit condo in Harrison Twp! Brand new stainless steel appliances in the kitchen as well as a new washer and dryer, fresh paint and brand new carpet throughout, granite counter tops, walk in closet in the master bedroom, gas fireplace and balcony with a great view in the living room, and an attached garage!

Listed with RE/MAX Suburban, Inc.


Brought to you by Janet Hull and Thomas Bush, Real Estate One, Inc.. Call me today at 1-855-Janet-Tom, or visit my website at www.JanetandThomas.com!


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