Greg Pape
June 2019
"Service Above Self"

What Is a “Joy Score” and Why Could It Be Even More Important Than ROI?
Homeowners, investors, lenders, and other financial professionals use return on investment (ROI) as the major barometer for whether or not a remodel is successful, but is there a more important factor? If you’re remodeling not just to raise the monetary value of your home or get more money out of a sale, but also to get more enjoyment out of the place, there just may be.
      The "Joy Score” measures value in a whole new way, determining which renovations make people the happiest. More money in your pocket notwithstanding, some renovations may put an even bigger smile on your face.
      The National Association of Realtors (NAR) first
Mortgage Rates
U.S. averages as of June 2019:

30 yr. fixed: 4.06%
15 yr. fixed: 3.51%
5/1 yr. adj: 3.68%

added the Joy Score to their 2017 Survey of Consumers Who’ve Completed Remodeling Projects, based on a survey of 2,287 homeowners conducted by
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7 Tips To Help Your Family Survive A Summer Renovation Project
     The longer days and warmer temperatures associated with the summer makes it the perfect time to complete home renovation projects. However, completing these projects in the summer, when children and other family members are more likely to be home, presents a unique set of complications.
      The following tips will help you and your family survive a summer renovation project.
      Decide What You Will Keep: Before the start of a renovation project, take a close look at the belongings in the area that will be renovated. Decide which of these belongings you and your family would like to keep. Indecision on these matters can cause delays with your project. Anything you do not intend to use in the new place should be

Should You Wait to Renovate?
     There are a lot of reasons to consider going through with getting a home renovation, but there are other reasons why you should wait before acting on those projects. Home renovations are expensive and time-consuming, so you should always be certain you want to follow through with them. In addition, you may discover that you're happy with the home the way it is instead of changing things. Whether you're a new homeowner or just thinking about starting a project, here are some reasons why you might want to consider waiting.
      Think it Through: One of the reasons you should consider waiting on a renovation project is to make sure that it's actually something you want. A lot of people are very impulsive when it comes to wanting new things, and that extends to home projects. Things like pools, new furniture, different flooring, creating new additions to the home, should take a lot of planning and thought before deciding. For example, the process

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Mortgage Rates Today

Mortgage rates are showing signs of moderating this month, following increases in April. Borrowers are discovering much lower rates compared to a year ago.

“A combination of low mortgage rates, a strong job market, and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending May 9:

  • 30-year fixed-rate mortgages: averaged 4.10%, with an average 0.5 point, falling from last week’s 4.14% average. Last year at this time, 30-year rates averaged 4.55%.
  • 15-year fixed-rate mortgages: averaged 3.57%, with an average 0.4 point, falling from last week’s 3.60% average. A year ago, 15-year rates averaged 4.01%.
    • 5-year hybrid adjustable-rate mortgages: averaged 3.63%, with an average 0.4 point, falling from last week’s 3.68% average. A year ago, 5-year ARMs averaged 3.77%.

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Why Are Rates Still So Low?
One Story or Two Story? The Advantages—and Disadvantages—of Each.

Greg Pape,Broker-Associate
Allie Beth Allman & Associates
5014 Tracy St.
Dallas, Tx 75225

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