Top 10 Real Estate Markets to Watch in 2016

1. Providence, RI
2. St. Louis, MO
3. San Diego, CA
4. Sacramento, CA
5. Atlanta, GA
6. New Orleans, LA
7. Memphis, TN
8. Charlotte, NC
9. Virginia Beach, VA
10. Boston, MA

SACRAMENTO (CBS13) – There’s a forecasted boom in the Sacramento housing market. The Sacramento region is being named as one the top 10 hottest real estate markets for 2016.

What can home buyers and sellers expect next year? Realtors say they had a very busy 2015 and now say it’s a great time to buy. And despite this being a holiday week, they say houses get sold every day of the year.”

Sacramento may be experiencing a renaissance with the construction of the new Kings arena. Its suburbs are filling up.

Places like Roseville offer attractive newer homes a short drive from Sacramento and Lake Tahoe.

Realtors say the market had a boost from low interest rates. Homesales are up more than 10 percent from last year. It’s a dramatically different market from four years ago. Foreclosures have almost disappeared in some neighborhoods and realtors are dealing more with traditional sales.

“As interest rates start to inch up, buyers start thinking, ‘Oh man, I better get it now,’ because they don’t want to wait.

Get Your Credit Ready to Buy a House in 2016

Lenders don’t like surprises when it comes to mortgage applicants. And when it comes to applying for a mortgage or looking to refinance, you don’t want any, either.

Yet many people forget to pull their credit report before they go house hunting—or they do it at the last minute—and they don’t know how to handle a poor credit score or a pockmarked report.

If there are any problems on your report, you’ll want to fix them beforehand and be prepared to explain the ones that stick around. Here are five tips on how to handle your credit and your credit report when it’s time to buy a home.

1. Don’t lie or hide the truth

Most people instinctively try to hide or shy away from bad news. Don’t do this with your lender. It’s basically impossible to hide bad news from lenders forever, and when they find out, they might not lend you money. Honesty is important, and be sure to explain any questionable financial issues that may come up during the underwriting process.

2. Don’t mess with your credit

Please, Mr. Postman

Send me news, tips, and promos from realtor.com® and Move.

 

Continue making on-time payments for all your bills and do not take out any new loans. Keep your credit card utilization at a maximum of 30% of your limit. Don’t open any new lines of credit, either—you don’t want your lender to think you’re ready to take on more debt on top of the loan.

3. Dispute errors

Get a free copy of your credit report and review it. Make sure any negative items are accurate, and if not, dispute them. This can be done online, but you can also inquire by mail.

4. Wait, if necessary

Whatever negative items that still exist will affect your score less the more time passes. The more recent the problem, the more your score will drop. But as long as you don’t accrue new negatives, like continual late payments, your score will go up again. For example, a collection will stay on your report for seven years, but it will weigh much less after five years than after six months.

You have a better shot at getting a good loan the further away you are from the time of the credit reporting incident. If your score is riddled with negatives from several years ago, be prepared to explain what happened and how you corrected it. If you have too many issues from the not-so-distant past, you might be better off waiting. Go for a pre-approval to see if you need to hang back.

5. Show responsibility with a mix of credit

Your report also needs to show that you can handle paying debts. Lenders want to see that you are actively handling a mix of credit, like installment loans and revolving credit. These lines of credit should be at least a year old—the longer the better. Try to anticipate this—don’t open a different line of credit right before buying a house. But if you need to repair credit for a year, adding a different type of credit and handling it properly can slightly boost your score.

 Updated from an earlier version by Laura Sherman

Candadian's Still love the Sunny Area's to Purchase Homes

As we reported recently in our story Foreign Money Finds Home on the Range Leaving California Behind, Chinese nationals are the top group of foreign buyers of U.S. homes and are moving inland for lower prices.   The Canadians, on the other hand, still prefer sunny states like California, and despite the falling value of the Canadian dollar, the high end of the market hasn’t been affected as much, say agents in Florida, California and Arizona—the three states with the most Canadian buyers.

Down about 10% over the past year, the falling Canadian dollar (also known as a “loonie,” due to the image of a loon on the dollar coin) is shifting the landscape of foreign buyers in the U.S.

For the first time, Chinese have overtaken Canadians as the biggest foreign purchasers of U.S. property by total number of transactions, accounting for 16% of sales to international buyers in the 12 months ending March 2015, according to the National Association of Realtors. Canadians accounted for 14%—down from 23% in 2013.

Read the full story here.

How the higher rates will effect us

Even though the Federal Reserve raised interest rates, many experts have been saying that any changes shouldn't have an immediate impact on the typical family.

"Nobody's going to see sticker shock," said Greg McBride, chief financial analyst at consumer finance portal Bankrate.com. "An initial rate move has almost an inconsequential effect on the household budget."

What will matter, however, is the impact of steady interest rate increases over time.

McBride warns that while the Federal Reserve should be slow and methodical in its approach to interest rates, there's a good chance the "cumulative effect of a series of rate moves" over the next few years will collectively add up.

USA TODAY

What higher rates mean for investors

So who would get some help, and who would see increased costs under higher rates? Here are some winners and losers:

Winners

Home sellers: Though it's a bit counterintuitive, higher interest rates could actually be good for home sales at the beginning of any period of rate increases. "It may cause a flurry of activity as buyers look to get in a new home before future rate hikes hit," said Whitney Fite, President of Angel Oak Home Loans in Atlanta. In other words, if the cost of borrowing will be higher tomorrow, why not take out that mortgage today and get more bang for your buck?

Home buyers: It's also worth noting that even with a small rate increase, mortgage rates are still near "historically low levels," Fite added — so it's not like buyers will be priced out of homeownership overnight. The rate on 30-year, fixed-rate mortgages topped 6.5% before the financial crisis and never dropped below 5.2% for all of the 2000s, for instance, so prospective home buyers shouldn't fret.

Shoppers with good credit: As long as you have a good credit history, you should still expect to see 0% APR promotional deals at your local car dealership or furniture store, said Greg McBride of Bankrate. The terms may vary slightly over time, for instance moving to 0.5% instead of 0% flat or with financing for 12 months instead of 18 months, he adds. But "those with good credit or who shop around, will always get attractive promotional offers," McBride said.

Losers

Savers: In the low interest-rate environment since the Great Recession, banks suffered low margins on loans. To prop up those interest margins, said McBride, banks will likely hike lending rates while leaving rates on CDs and other deposits pretty flat going forward. There may be a few opportunities for consumers willing to shop around, said McBride, but expecting a broad move toward better savings rates simply because of a move by the Fed is "a recipe for disappointment."

Borrowers with variable-rate debt: Naturally, the impact of any move by the Federal Reserve will be most apparent on loans that are pegged to benchmark interest rates. McBride says this is "particularly true for variable-rate debts that have large balances, such as adjustable-rate mortgages, student loans and home equity lines of credit." While you may not see the bills jump dramatically in short order, a steady rise in rates coupled with the long-term nature of these loans will "feel like death by a thousand paper cuts" over time, McBride said.

Mortgage holders who haven't refi'd: A few percentage points in interest can add up big over the long term, said Fite of Angel Oak Home Loans. Many Americans have found this out by refinancing their mortgages to cut down monthly payments. But unfortunately, if you didn't take advantage of super low rates in 2014 or early 2015, your window may have permanently closed to get those more favorable rates from several months ago.

Jeff Reeves is executive editor of InvestorPlace.com and the author of The Frugal Investor's Guide to Finding Great Stocks.

USA TODAYUSA

Best Holiday Lights Sacramento

http://www.sacbee.com/entertainment/holidays/article48808305.htmlhttp://www.sacbee.com/entertainment/holidays/article48808305.html

Preventing Those Holiday /Winter Home Fires from Pillars to Post Home Inspectors

Residential fires take their toll every day, every year, in lost lives, injuries, and destroyed property. According to the National Fire Protection Association, a home structure fire was reported every 86 seconds in the U.S. in 2014. The fact is that many conditions that cause house fires can be avoided or prevented by homeowners. Taking the time for some simple precautions, preventive inspections, and concrete planning can help prevent fire in the home - and can save property and lives should disaster strike.

• All electrical devices including lamps, appliances, and electronics should be checked for frayed cords, loose or broken plugs, and exposed wiring. Never run electrical wires, including extension cords, under carpet or rugs as this creates a fire hazard.
  
• Fireplaces should be checked by a professional chimney sweep each year and cleaned if necessary to prevent a dangerous buildup of creosote, which can cause a flash fire in the chimney. Cracks in masonry chimneys should be repaired, and spark arresters inspected to ensure they are in good condition and free of debris.
  
• When using space heaters, keep them away from beds and bedding, curtains, papers - anything flammable. Always follow the manufacturer's instructions for use. Space heaters should not be left unattended or where a child or pet could knock them over.
  
• Use smoke detectors with fresh batteries unless they are hard-wired to your home's electrical system. Smoke detectors should be installed high on walls or on ceilings on every level of the home, inside each bedroom, and outside every sleeping area. Statistics show that nearly 60% of home fire fatalities occur in homes without working smoke alarms. Most municipalities now require the use of working smoke detectors in both single and multi-family residences.
  
• Children should not have access to or be allowed to play with matches, lighters, or candles. Flammable materials such as gasoline, kerosene, or propane should always be stored outside of and away from the house.
  
• Kitchen fires know no season. Grease spills, items left unattended on the stove or in the oven, and food left in toasters or toaster ovens can catch fire quickly. Don't wear loose fitting clothing, especially with long sleeves, around the stove. Handles of pots and pans should be turned away from the front of the stove to prevent accidental contact. Keep an all-purpose fire extinguisher within easy reach. Extinguishers specifically formulated for grease and cooking fuel fires are available and can supplement an all-purpose extinguisher.
  
• Have an escape plan. This is one of the most important measures to prevent death in a fire. Visit ready.gov for detailed information on how to make a plan. Local fire departments can also provide recommendations on escape planning and preparedness. In addition, all family members should know how to dial 911 in case of a fire or other emergency.
  
• Live Christmas trees should be kept in a water-filled stand and checked daily for dehydration. Needles should not easily break off a freshly-cut tree. Brown needles or lots of fallen needles indicate a dangerously dried-out tree which should be discarded immediately. Always use nonflammable decorations in the home, and never use lights on a dried-out tree.
  
• Candles add a festive feeling, and should be placed in stable holders and located away from curtains, drafts, pets, and children. Never leave candles unattended, even for a short time.
  
• Holiday lights should be checked for fraying or broken wires and plugs. Follow the manufacturer's guidelines when joining two or more strands together, as a fire hazard could result from overload. Enjoy indoor holiday lighting only while someone is home, and turn them off before going to bed at night.

7 Sneaky Tricks Credit Card Companies Play at Christmas  

From Dave Ramsey's web.site

Credit card companies are downright sneaky. They entice you with tens of thousands of rewards points, then they pull back the curtain to reveal 23% interest, a sky-high annual fee, and blackout dates galore.

And with the Christmas shopping season upon us, these companies are ready to reel you in and drown you in debt. Too bad for them—you’re about to know all their tricks.

Here’s our list of the seven dirtiest marketing tactics credit card companies use at Christmas (and all year long, for that matter). Don’t fall for them!

1. Reward points

During the holidays, credit card companies strategically change their rotating bonus point categories to things like Amazon and department stores so you’ll spend more. What they don’t advertise is that a third of those rewards go unredeemed each year, according to a survey by marketing firm Colloquy.

2. Zero-interest introductory rate

No interest for 18 months may sound like a great way to finance your flat screen, but it’s not the whole story. If you accidentally join the ranks of the 52% of Americans who don’t always pay their balance in full each month, get ready to fork over hundreds of dollars in built-up interest. Ouch.

3. No annual fee your first year

Guess what happens after a year? A fee! That’s what happens. Think you’ll just cancel before then? Credit card companies pay entire teams of people to keep you from canceling: But you’ll lose all your precious points! You’ll ding your credit score! We’ll give you more points! They’re good at it.

Related: The Number-One Way to Improve Your Credit Score

4. Rewarding donations

No time to use your rewards? No problem. You can donate them to charity. Isn’t that nice? We have a nicer idea. Save your money and give that charity a big, fat check. They’ll like that a lot more.

5. Discounted purchases

When you open store-branded cards, you may get $30 off, 15–20% off, or free shipping. That’s chump change to credit card companies. They’re waiting for you to slip up big time—long after that discounted sweater sinks to the back of your closet.

6. Cash back

We like cash around here. But this is one instance where we don’t recommend it. You have to spend thousands to get a measly $100 cash. Oh, and it’s probably just a credit applied to your account, which is about enough to cover your annual fee. How about you just keep your cash instead?

Related: 3 Signs You’re Giving Your Credit Too Much Credit

7. Sign-up incentives

Earn double miles in your first year! Get 25,000 points after $3,000 of spending in your first three months! Sound familiar? Credit card companies know if they can distract you with some attractive bait, they can hook you for life. Don’t be a guppy.

Cash is better!

Stay away from these marketing tricks this Christmas. Instead, make a budget for your money and use cash for everything you buy. When you do, you’ll get the gift of staying in control and sticking it to the sneaky credit card companies. Talk about rewarding.