Joe LaVallie's (joelava) Blog

Refinancing still make sense for many owners. The last quarter of 2012 was a good time to refinance but rates are still near their all-time lows. On average owners are reducing their mortgage payments by over 25 percent. The average rate that was refinanced was just over 5 percent and just over 5...

Some markets are experiencing multiple offers that are moving home prices higher. Demand for houses continues to increase as the supply of houses shrinks in some markets. In these areas the price of homes is increasing and creating urgency among buyers before prices move even higher. If you have ...

We are all playing the credit game and we don't know the rules because the rules are kept secret. Most of us assume that paying our bills on time will give us a good credit score. That is mostly true but there is more to the story. Approximately 35% of your credit score is determined by making yo...

Look into the crystal ball and tell me if rates will be under or over 4% for 2013. Most experts expect rates to remain below 4% for 2013 but to start rising the second half of the year. The housing market is recovering. New home construction is rebounding, the sale of existing homes is up, and th...

Is the smart money buying foreclosures for big profits? When you buy a foreclosed home can you expect to pay a discount over a traditional sale. Yes, and buyers expect the discount. This is good for buyers but negatively impacts the values of similar homes in the immediate neighborhood. Owners tr...

Will house values soar in 2013? Will there be new house flipping shows on TV? Will you be able to sell your house in 2013? The market sure looks poised for a recovery and homebuilders are betting on it. In a recent report; builder confidence is at its highest level in over 6 years. This optimism ...

There are mixed signals in the numbers reported for Bank Repossessions for the month of November. The number of homes entering the foreclosure process in November declined but the number of repossessions increased. Banks completed foreclosure on over 59,000 homes last month which is an increase o...

Do Bi-Weekly payments work? Yes they do and they are a good choice for some people. If you want a defined plan that obligates you to a Bi-Weekly payment plan sign up with your mortgage lender or a third party provider. If you want a more flexible plan that works just as well, consider a self-mana...

The number of down payment gifts is increasing. There is a right and wrong way to give a gift for a down payment. In a recent study found that default rates on low down payment loans where gift funds were used were higher than those loans that didn't have gift funds. You can't just magically have...

Now that you have bought your dream home; don't forget the insurance. Many homeowner's don't have the correct coverage on their house. Not having the correct coverage can be a costly mistake. Nobody likes to pay for insurance but when you need it; make sure you have the coverage you need. For inf...