One of the stress points for home buyers is knowing when to lock-in to their mortgage rate.
By all means, make your own decision, in collaboration with your loan professional and your real estate agent. But as you do so, here are a few
ideas that I hope will add a little something toward making the process work better for you.
Last week was an example of volatility in mortgage rates. They fell on Monday and Tuesday, then jumped up on Wednesday and Thursday.
Several factors contributed to the bumpy ride. For starters the Unemployment claims fell, and Leading Economic Indicators rose. On top of that inflation readings are modest.
As a home buyer trying to make a good decision, and manage your own stress, what should you do? In the spirit of Keeping It Simple, let me offer three things that are very basic but will help you avoid what is not doable. You can "drive yourself a little crazy" trying to nail the perfect interest rate decision, but often the better part of wisdom is knowing what is truly "controllable" and what is not.
And that is my first point. One key strategy in managing the psychology of uncertainty is acknowledging and accepting what is knowable and what is unknowable about a given situation. So, the first thing is to acknowledge that there is no "perfect" timing, and there is no absolute way of ensuring that your locked -in rate won't be better - or worse - next day, or next week. The stress comes from trying to anticipate what is unknowable.
The second thing we can do is determine our time frame. Most people can't live comfortably with open-ended uncertainty. So determine your own time line for getting that rate locked. You can try to guess this or that movement of rates, but that may add a great deal of stress to the already stressful process of buying your home. And listen carefully to the insights of the professionals you are working with both from the mortgage side as well as the real estate agent side.
The third thing you can do is be ready to act rapidly. What enables you to act with speed? Doing the "due diligence" and making decisions on what your timing needs to be. So much of the home buying process can be made easier by having a plan. After you have gotten the details of your program worked out with your loan professional, and you have gotten all of your own financial arrangements worked out, be ready to act decisively.
Just one other point. I urge you to be quality and integrity conscious as you make your choice of loan provider (likewise for real estate agent). I have suggested how to deal with the unknown, but just as important is dealing with what you can know. A good loan professional - and real estate agent - will help you to know all that should be known before you make key decisions.
MORE INFORMATION ON: PLEASANT VALLEY
MORE INFORMATION ON: CHANTILLY-FAIRFAX COUNTY, CHANTILLY-LOUDOUN COUNTY, CENTREVILLE AREA, and NEARBY COMMUNITIES.
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Please let us know if we can be of any help with other questions you may have about Pleasant Valley. I have lived in this community for over 20 years and have become a "Pleasant Valley Specialist." We have helped many, many individuals and families buy, sell, and relocate to and from this area, and we are here for you as well!
[The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]
It may be quite some time before the market for green products gets into full swing, but there is a lot that is starting to happen. Take lawn products for example.
Chantilly home owners who use a lawn service won't see many, if any, electric tools in use. Most lawn service companies use gas powered tools.
They perform far better, but their environmental impact is another story.
A California Air Resources Board study offered that a 5-horsepower, gasoline-powered lawnmower produces more pollution in 1 hour of use than driving a Prius for 800 miles.
Yep...those lawn tools can put out more than noise pollution. As a counter-point, the the Eco Trimmer by Lehr
It is supposed to emit 96 percent fewer carcinogens than a gas-powered tool while having no negative impact on air and soil. And it has been highly-rated, as well.
They are going for about $200 on Amazon.com and you are seeing them in major hardware stores, too. You can get the pitch on why this product works well at the official Lehr website.
[The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]
Relocate America publishes their Top 100 Places in the US to live, and this year Oklahoma is OK. The study places high priority on solid local economic
conditions as well as stable housing prices.
This year Tulsa, Oklahoma, comes out smelling like a rose, with an unemployment rate that is 3 percent below the national average along with affordable housing.
These same conditions were the general pattern among the Top 10, which are:
The study suggests that its 2009 winners will be in a better position to bounce back from the recession.
Check out the Top 100 Places To Live In America 2009 list on the Relocate America website.
[The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]
Some people love what they do. Heather Taylor and the team of instructors at South Riding Dance Academy are a case in point.
Nine years ago Heather brought her life-long dream into reality when she started South Riding Dance Academy. She was bitten by the dance bug as a kid, and has never really recovered. Dancing her way through high school and college, including a tour as a Redskin Cheerleader Ambassador, not to mention her time on Broadway, Heather was most definitely "born to dance."
The Academy offers dance lessons for kids of all ages, as well as special programs for adults. The students can choose to dance competitively - the Academy is very active in the competitive dance world - or they can dance for purely recreational purposes. It is entirely up to the parents and their kids.
I asked Heather what is most gratifying about teaching people how to dance? "It is seeing what dance can do for the kids, and adults - way beyond just learning to dance. I see self-confidence, self-worth, and self-discipline go way up. It's amazing to watch these changes. It feels wonderful when we see this happening. It reminds me that it is not just about the dancing."
And it is a team approach. The academy has a staff of 9, with lots of personal attention. Lessons are very affordable, and if you call the Academy (703 327-9627), mention The Kathy O'Neal Team, and get a special discount. For more details about the Academy and its programs, visit their website.
Heather sums up her approach, "We love to dance, and we love the kids - and adults - we teach. Ya gotta love this stuff to do it right!" Indeed. Fred and Ginger would be pleased. And by the way, if you are too young to know Fred and Ginger, you should not complain!
[The Kathy O’Neal Team serves home buyers and sellers in Northern Virginia, with special focus on Chantilly, Centreville, and the communities of the Western Fairfax region.]
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With a special focus on Chantilly, Centreville, and the communities of Western Fairfax, Kathy and her team have a well-earned reputation for integrity, professionalism, and a total client focus.
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