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The Mortgage Blog Of Ricky Khamis

Things To Consider When Adding On To Your Home

Thinking about adding on? There are a few important few things you should consider before getting started: Hiring professionals; be sure you hire an architect before hiring a builder. The addition should look as if it was a part of the original design.  Also, thoroughly research prospective professionals before you hire them. Cost; have a clear idea of your budget, but, be realistic. A good resource is CostHelper.com; this site will help you roughly estimate the cost of the project. And finally, prepare yourself for a mess, people will be in and out of your home; it will be noisy and inconvenient at times but, in the end it will be worth it. More here

Housing Starts And Permits Increase

Housing starts and permits jumped last month as groundbreaking increased 6.3%, averaging 1.02 million-unit pace annually according to the Commerce Department. With interest rates falling this year, the housing market has made great strides toward recovery since 2007. An economist at Bank of America Merrill Lynch, Michelle Meyers  said, “if you look at the trend, you are still seeing an upward trajectory.” New single-family housing starts increased 1.1% last month, and volatile multi-family homes segment rose 16.7%. More here

Nearing Retirement? Watch The Housing Market

If you are nearing retirement and plan to sell your home, buy a new home, or downsize, it’s a smart idea to pay attention to the housing market and educate yourself in order to make the best financial decisions. Paying attention to pending home sales, building permits, new home sales, existing homes sales, home price indexes, and housing starts may help you understand when the best times to buy and sell are. Right now the housing market is making a comeback from the recession and current long-term trends are positive, job growth has increased, there are fewer distressed sales, and homebuilder confidence is up, making it a good time for retirees or soon-to-be retirees to sell and buy. More here

Buying May Be Cheaper Than Renting Now

In many locations in the United States, owning a home is less expensive than renting. A recent report by Trulia examining the costs for buying versus renting found that buying a home is approximately 38% cheaper than renting in the 100 largest metropolitan areas. Trulia’s chief economist, Jed Kolko said, “mortgage rates have come back down in the past year, and rents have risen a little more than prices have. Those things together have increased the gap between the cost of buying and the cost of renting. Over the past year, buying has become even more favorable compared with renting.” More here

Fall Home Maintenance Checklist

It’s the perfect time of year to get out and complete some necessary tasks to ensure your home is well-maintained, safe, and looking its best. A few things you should add to your fall to-do checklist are: Clean out your gutters; seal cracks and gaps around doors and windows; inspect your home’s siding and roof, and have a professional inspect your heating system; thoroughly check your fireplace for creosote build-up and soot, and replace any dirty furnace filters. More here

Mortgage Application Activity Increases

According to the Mortgage Bankers Association, U.S. home mortgage applications increased last week, and interest rates dropped. The MBA’s seasonally adjusted index of mortgage application activity grew 3.8%, and their seasonally adjusted index of refinancing applications also increased 5.0%. Additionally, the  loan requests for home purchases, a direct indicator of home sales, also jumped 2.4% for the week ending on October 3rd. More here

Mortgage Rates Fall Slightly

Mortgage rates have slightly decreased, according to Freddie Mac’s Primary Mortgage Market Survey. The national average 30-year, fixed-rate mortgage fell 0.7% this week, averaging 4.12%. While the 15-year, fixed-rate mortgage also decreased 0.6% this week, averaging 3.36% nationally. Additionally, the five-year Treasury-indexed hybrid adjustable-rate-mortgage fell 0.1% averaging 3.05% nationally, and the 1-year Treasury-indexed ARM remained the same as last week and averaged 2.42% nationally. More here

Home Prices Increase 0.3% In August

According to CoreLogic’s house price index, home prices increased 0.3% month over month in August, the highest increase seen in five months. Home prices have remained mostly steady over the last year, though data shows that August 2014 prices were only about half of the average monthly gain seen in August of 2012 and 2013. Property economist Paul Diggle said, “more fundamentally, despite a tightening in recent months, we expect housing market supply conditions to loosen over the next year. Earlier price gains are encouraging homeowners to bring their homes to the market, while the increase in housing completions means that the inventory of new homes for sale is expanding rapidly.” More here

Outsourcing Tasks At Home

Everyone has dreaded home tasks that need to be done in order to keep a well-maintained and efficient home and lifestyle. While some may have time for all the various jobs around the home, others are pressed for time and simply cannot get all the work done on their own. Here are a few tasks you can outsource for a reasonable cost, along with their estimated prices. Cleaning services; on average across the U.S., a cleaning company or maid will charge $196 for a one-time cleaning. If you decide you want a regular cleaner, prices will decrease. Lawn care;  depending on how large your yard is, the average costs of lawn care is around $61 for two hours. Handyman; last year on average, Americans paid around $74.18 per hour for handyman services. More here

Tips To Help You Pay Off Your Mortgage Faster

More Americans are attempting to pay off their home loans faster, and according to the recent U.S. Census data, 34% no longer have mortgages. While it may be difficult, there are methods that can help paying off your home more quickly such as, paying extra monthly payments or just adding $100 onto your monthly payment; Refinancing to a lower interest rate but continuing to pay a higher monthly payment. Also, designate any extra money such as odd jobs or bonuses towards your mortgage. Experts say it may not be smart for everyone to pay off their mortgage early, and if you are considering it, you should speak with your financial advisor first. More here

About Ricky:

Ricky Khamis was born and raised in Phoenix, Arizona. Ricky served four years with the 82nd Airborne Division (Paratrooper Creed), stationed at Fort Bragg North Carolina. During his tenure with Alpha Company 3-505th PIR he earned Soldier of the Month out of 15,000 Soldiers in all Infantry Divisions. Earned highest peace time award and several other awards including the Army Commendation Medal, and several Army Achievement Medals. He valiantly served as an Airborne Infantry Soldier carrying an M249 S.A.W with a total of 48 Jumps during his time with the 82nd. He decided to return to his home state, start a family and a career in the business world. Ricky began his career in the mortgage industry in 1999. He is married with 5 children: DeShawn his wife, Jalen 15, Aryana 13, Austin 13, Drake 8 and Kaden 5.

Ricky quickly moved up the ranks and opened his own branch office under Great Southwest Mortgage. Because of his business savvy and true desire to help people he earned a Certified Mortgage Planning Specialist designation. This proved instrumental to his success, at a time when some loan officers in the industry were approving loans with less discretion, Ricky was ensuring that his clientele were truly prepared for their new debt.

Ricky has ranked among the top 10% of his loan officer peers throughout his career due to the unyielding desire to help families own a home, and successfully manage that obligation to build long term stability and wealth. He has managed and coached dozens of loan officers and support staff and continued to produce at the highest levels, earning a spot as Platinum Producer, an honor reserved for only a few in his previous company.

In addition to his CMPS designation, which requires 40 hours of continuing education each year to stay in tune with the changes in federal and state law, taxation and financial planning, he is also Arizona's only Instructor for"The Value of Being Seen" which educates Arizona Real Estate Agents the true power of first page of Google Marketing.

Contact:

Ricky Khamis
Branch Manager | Corporate
AZ|CA Licensed Senior Loan Officer
NMLS# 173141
CADOC 173141
LO-0911814
BK0013635
Amerifirst Financial, Inc.
Company NMLS# 145368
1550 E. McKellips Road, Suite 117
Mesa, AZ 85203
Direct 480-344-1900
Cell Phone: 602-758-7425
Fax: 480-907-1451

My Website | Email Me

 

 

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