Dympna Fay-Hart
Serving Chicago Area Sellers & Buyers

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Single And Planning To Buy A Home? Some Things You Should Know

woman working at deskMany single women and men are buying homes on their own. In fact, according to the National Association of Realtors® single women accounted for 21% of all home purchases last year, and single men accounted for approximately 10%.  So almost one-third of all homes sold last year were purchased by singles.

Start learning what you need to know several months before you are ready to start viewing properties.  The more you know and the better prepared you are, the quicker you will find the right home to meet your wants and needs.

Here are a few important financial tips for single home buyers (women and men):

Freddie Mac Economists Upbeat About Housing - See April Outlook Report

Freddie Mac economists remain upbeat about the housing market outlook for the rest of 2016 and 2017.  According to their April Outlook Report housing will continue its forward momentum and be a driver of economic growth.

"We've revised down our forecast for economic growth to reflect the recent data for the first quarter, but our outlook for the balance of the year remains modestly optimistic for the economy,” says Sean Becketti, Freddie Mac’s chief economist. “However, we maintain our positive view on housing. In fact, the declines in long-term interest rates that accompanied much of the recent news should increase mortgage market activity, particularly refinance."

Economists predict that the labor market will stay strong, unemployment is projected to drop back below 5%, and wage gains should exceed the rate of inflation.  They expect mortgage loans to rise by $50 billion in 2016 as a result of the low mortgage rates that are expected to stick around for a while.

The 30-year fixed-rate mortgage averaged 3.7% in the first quarter of this year, and economists are projecting that rates will average around 4% in 2016.  They also predict that home prices will rise by 4.8% in 2016 and another 3.5% in 2017, leading to more equity for home owners.

To read Freddie Mac's April 2016 Outlook report:  http://freddiemac.mwnewsroom.com/press-releases/freddie-mac-april-2016-outlook-otcqb-fmcc-1255200

Earth Day is April 22nd! - Commit to Greener Living

There are so many things you can do to embrace a 'greener' lifestyle . . . and the time to start is NOW!

We are celebrating Earth Day on Friday!  It's more important than ever that everyone does their part to ensure we have life-giving resources available for the future generations of humans and all life forms.  

View the link below for ideas of things you can easily do in and around your home and do your part to conserve valuable resources.  

Commit to Living a Greener, More Sustainable Life this Earth Day - With more than 1 billion people participating in Earth Day activities each year, it’s hard to fathom what we all did on April 22 prior to 1970—the year Senator Gaylord Nelson put into motion a movement that continues to motivate people into action when it comes to caring for—and protecting—our environment. Whether you’re a preservationist, or activist—or somewhere […] [RisMedia Consumer News]