Mindblown: a blog about philosophy.
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New Jersey Buyers Save $19K Despite Rising Prices
New Jersey’s median sales price ↑ 12.5% over the last 14 months across all properties. Single-family home prices ↑ 13.4%, while townhouse-condo prices ↑ 13.9% since early 2024.
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Tips for Building Your Dream Home: Invest in Luxury
Building a luxury home creates a personalized sanctuary with comfort and longevity. Location is crucial: seek exclusivity, tranquility, and easy access to amenities for your luxury home.
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The Fed Cut Rates By 50 Basis Points: How Much Will Home Affordability Improve?
The Federal Reserve cut its benchmark federal funds rate by 50 basis points, the first reduction in over four years, following a period of interest rate hikes. This move may help buyers facing affordability challenges, although experts caution against expecting significant improvements soon. Mortgage rates have decreased by over 1.5% since their peak, enhancing purchasing…
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Adjustable-Rate Mortgage vs. Fixed-Rate Mortgage: Which Works Best for You?
When choosing a mortgage, homebuyers must consider adjustable-rate mortgages (ARMs) and fixed-rate mortgages, each with distinct benefits and risks. ARMs offer lower initial rates but can lead to higher payments as rates adjust based on market conditions, making them suitable for short-term ownership. Fixed-rate mortgages provide stability with consistent payments but typically have higher initial…
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Key Steps to Selling a Home in New Jersey
Use agent-matching services to find qualified agents. New Jersey average listing fee: 2.55%. Request multiple CMAs from agents and sign a listing agreement. Appraisal costs: $208–$539.
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2025 Home Upgrades: Forecasted $466B Increase in Spending
Homeowner spending on upgrades is set to rise through early 2025. Annual spending on home maintenance and improvements will exceed $466B through Q2 2025.
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Falling mortgage rates, a recovering housing market — Is it a good time to buy a house?
The Federal Reserve has maintained interest rates, while mortgage rates have dipped below 7%. Factors to consider when buying a house in 2024 include housing inventory, mortgage lenders, and home prices. Active inventory has increased nearly 24% year-over-year, and new home construction is rising despite supply challenges. Personal financial situations, such as income stability, credit…
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Predictions 2025: Turning Point or Cooling Down?
Home prices to rise slightly, 1-2% above inflation. Increased affordability from rising real incomes.
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Interest Rate Forecast for 2025
Aggressive Rate Cuts: Fed projects four rate cuts, reducing rates to around 4.1%. Economic Balance: Lower rates aim to boost borrowing and economic activity.
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Effective strategies for saving up to buy a house
Purchasing a home requires careful planning and disciplined saving. Start by setting a clear savings goal, ideally saving at least 20% for a down payment and accounting for closing costs. Create and stick to a budget, cutting unnecessary expenses. Consider investing a portion of your savings for better returns and open a dedicated high-yield savings…
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