RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Pre-Purchase Education Key to Homeownership

March 7, 2016 12:12 am

Buyers new to homeownership have a lot to learn in their first go-around—and recently released insights reveal just how important education is.

According to an analysis by Freddie Mac, borrowers who received classroom and home study counseling had reductions in their subsequent rates of serious delinquency of 26 percent and 21 percent, respectively. The same data show that borrowers who received individual counseling averaged a 34 percent reduction in their rate of serious delinquency.

“Freddie Mac believes objective, unbiased homebuyer education and counseling can improve the ability of borrowers to make prudent homeownership and home financing choices,” says Sean Becketti, chief economist at Freddie Mac. “The benefit is likely to be greatest for first-time homebuyers, and, as a result, Freddie Mac requires financial literacy education for first-time homebuyers who take advantage of Freddie Mac's low-down-payment program, Home Possible Advantage.”

The information gleaned from the analysis, which confirms that pre-purchase education can lead to positive outcomes for homeowners, comes at a pivotal time for the housing market.

“Housing was one of the few bright spots in the economy last year, and we expect continued improvement in 2016,” says Becketti. “The imbalance between demand for housing and the supply of both houses and apartments has supported rapid growth in both house prices and rents. The gap between demand and supply will not be closed any time soon; thus, we project continued house price appreciation in 2016.”

Source: Freddie Mac

Published with permission from RISMedia.


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4 Tips for Millennial Job Seekers

March 4, 2016 12:09 am

Unemployment claims have remained consistently low, signaling a robust recovery in the job market. This trend is encouraging, particularly for millennials who bore the brunt of the recession—but with employment on the upswing, they now face competition for the best roles, says Kyle Kensing, online content editor of CareerCast.com.

“As the unemployment rate drops and more people find jobs, there is still competition for the best positions,” Kensing explains. “Even with a rosier employment outlook, applicants need to be prepared for job market competition, particularly for the high-paying positions with a positive outlook that everyone wants.”

Kensing offers job-seeking millennials the following tips:

1. Network – The most common source for new hires is employee referrals. Professional groups and industry meet-ups are ideal for networking, but don’t neglect other outlets for connectivity, like Facebook, Twitter, LinkedIn, Instagram and even Snapchat. Twitter's hash-tagged chats, for example, are a simple way to “get your foot in the door” with like-minded professionals.

2. Go Outside the Norm – A graphical resume can grab a prospective employer's attention aesthetically and demonstrate your skills and experience.  A personal website functioning as a resume can also give hirers an example of your abilities.

3. Know Your Worth – Research what comparably-skilled employees make at your experience level and in your region. The Bureau of Labor Statistics, PayScale.com and job postings, such as those on CareerCast.com, can assist you in your search.

4. Stay Positive – Attitude still goes a long way in the job search. You may be looking to leave one employer for another, but focus on the positives of your current and past employers when interviewing for new positions.

Source: CareerCast.com

Published with permission from RISMedia.


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