How the Current Interest Rates Affect The Price of Your Home.
Mortgage experts vary in opinions from interest rates staying the same, to saying they are likely to go up.
Rates change quickly for a variety of reasons, mostly a reaction to fear than fact. Everyone likes interest rates low because it is good for business. It's a good time to refinance, to sell or buy a home. When interest rates are low, more people can afford to buy, when more people can buy, house prices go up. An interesting effect of increasing rates is the effect on homes prices going up! This is explained simply by understanding human nature. After people have waited for the bottom (the lowest interest they are willing to pay) and rates begin to rise, they will rush into the market to avoid paying higher rates. This increased demand for homes will cause an increase in the prices of homes on the market. This occurs until a point where the rates reach a point that people cannot afford the homes they desire.
As the economy strengthens we should expect to see interest rates rise and currently it looks like interest rates are on a slight increase. If they continue to rise we might see an increase in home pricing, followed by a price drop.
If you have any questions regarding this or any other real estate topics, please give us a call.
Volume 3 Issue 7
The Importance of Proper Ventilation
High attic temperatures may cause many fire-retardant plywood roof sheathings to deteriorate, joist and truss members to split and deform, and truss plates to loosen. Intense attic heat is also transmitted to the ceiling surface of the living space below. The ceiling acts as a "hot plate," radiating some of the heat to the occupants. This, in turn, adds to the air conditioning requirement - both in the size of the unit needed and in operating costs.
The portion of the heat that reaches the living area through the attic is proportional to the difference between the attic floor and room ceiling temperatures. Ventilation can substantially reduce this temperature difference. Ceiling insulation retards the rate at which the heat flows to the rooms below. A cooler attic reduces the quantity of heat which the insulation must keep out. Ventilation makes the insulation more effective. Ventilation also reduces the quantity of heat which is stored within the insulation. This ensures a quicker and more complete cooling of the attic during the night.
Curious about your home value?
Email us at john.case@caseproperties.net. We will supply you a comparative market analysis at no charge. You can call us at (925) 754-9023 if you want mail service. Find out your Home's Worth!
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