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  Provided to you Exclusively by Rob McCarthy
Rob McCarthy
Rob McCarthy
Owner/Senior Mortgage Planner
101 Loan, LLC
Office: 408-377-4123
After Hours: 650-465-8957
Email: rob@101loan.com
Website: www.101loan.com
CA DRE #01165697 NMLS #121019
  101 Loan, LLC
For the Month of July 2021 --- Vol. 15, Issue 7
  In This Issue  

"And so with the sunshine and the great bursts of leaves growing on the trees, just as things grow in fast movies, I had that familiar conviction that life was beginning over again with the summer." - F. Scott Fitzgerald, "The Great Gatsby"

  • What to Watch - Optimism and the "Great Reopening" after COVID-19
  • Securing Your New Home in the Summer - With the housing shortage continuing, how can you maximize your chances for purchasing a home this summer?
  • Creating the Perfect Craft Room - Serious crafters need serious space, so use these tips on designing the ideal crafting room.
  • Q&A: Does Owning a Pet Influence Your Decision to Buy a Home? - Having a four-legged furry friend might affect your decision on buying a home versus renting.

Please feel free to forward this newsletter to friends, family or co-workers who may find it helpful.

  What to Watch  

Optimism and the "Great Reopening" after COVID-19

Optimism surrounding the "Great Reopening" across the U.S. is taking place with most states now at almost full capacity for all types of venues. You can feel the energy and see the pent-up demand across the nation as COVID cases decline and as the virus loses its grip. 

During the shutdowns, suppliers decreased production. So, what happens when you have too many dollars that may be chasing limited products? Inflation tends to increase. However the limited product obstacle will most likely give way to a ramp-up in supply as most businesses are back at full capacity and will begin to deliver more and more products.

Consumer spending makes up two-thirds of our gross domestic product, and Americans are looking to spend big this summer. Estimates are now calling for 6%+ gross domestic product growth in 2021. Fed Chair Jerome Powell continues to assert that any rise in inflation will be transitory and that prices will level off in the second half of this year.

In this current higher inflation environment, mortgage rates would typically increase, but the 30-year fixed-rate mortgage has declined from the beginning of April to the latest reading at the end of May.

Bottom line: Despite the recent increase in inflation, mortgage rates remain just above all-time lows thanks to the Federal Reserve's bond-buying program. Now is a great time to capture the best rates in three months before they tick up over time as the economic recovery continues.

Source: Mortgage Market Guide

  Housing News  

Securing Your New Home in the Summer

At the start of 2021, the housing market experienced an increase in home prices combined with low inventory. Together, they created a high buyer demand along with cutthroat competition, especially in suburban areas.

Forecast trends for the summer 2021 housing market include an increase in home inventory, although it should continue to be a seller's market. To maximize your chances of securing a new home this summer, follow these tips:

Get pre-approved. When looking at purchasing a home, you want to give yourself a leg up against the competition. Getting pre-approved means you've given your lender the verified information it needs to give you a loan. Being fully qualified can make a seller more likely to sell to you versus someone who hasn't gone through the process.

Consider a fixer-upper. Due to inventory constraints, you might want to consider a home that needs a little extra work. But try to avoid a home that has major problems, and instead focus on one that has superficial blemishes or design issues.

Prepare for a bidding war. In more populated areas, bidding wars might be on the rise and become the norm like they did several years ago. Avoid letting your emotions get the best of you, and trust your gut when it comes to buying your home.

The competitive housing market is expected to continue at least through the end of the year. If you need further assistance, don't hesitate to reach out to a real estate professional or loan officer for more information.

Sources: Mymortgageinsider.com, Realestate.usnews.com, Realtrends.com, Foxbusiness.com

  Home Improvement  

Creating the Perfect Craft Room

Every crafter needs their own space to house their creative projects. Whether you decide to use a spare guest room or convert a closet or part of your basement is up to you and your budget. Whatever you decide, you should secure a dedicated space, and let your creative juices flow.

Die-hard crafters know that inspiration can strike at just about any time, so your creative space should be designed specifically to work with your crafting needs. Keep these tips in mind when you're designing and executing the ideal craft space in your home.

Get organized. Having an organizational system can not only keep the area streamlined but can also make it easier for you to locate all your supplies. Consider adding labels to pull-out drawers in case you forget where certain tools are. You could also opt for clear containers to help you locate items easier.

Incorporate light. Ideally, natural light is the best way to brighten up a craft room, but that's not always an option. Use strong desk lamps to provide bright light. Floor lamps and overhead lights are other options, and adding metallics to the walls can reflect any light that enters the room.

Go vertical. Don't forget that you can use wall space and hang pegboard or corkboard from it. Place the boards at eye level, and add a few inspirational images to spark some creativity. Don't be afraid to add some color to the boards as well.

No matter which room you choose for the perfect craft room, just remember that you can tailor it to whatever type of crafting you do. Sometimes the best way to figure out what works for your needs is to try out several options and see what sticks. Head to your local crafting store today, and get started on creating that ideal room for all your crafting needs.

Sources: Thespruce.com, Marthastewart.com, Sebringdesignbuild.com

  Does Owning a Pet Influence Your Decision to Buy a Home?

QUESTION: How does having a pet affect the home-buying process?

ANSWER: If you're like most people, your four-legged furry friend is a member of the family, and you want to include your family in the home-buying process. Pets hold a special place in our hearts and bring joy to our families. As a result, it's important to consider their needs when buying a home.

One of the major reasons that pets affect home-buying decisions involves landlords. If you're renting, many landlords don't want to deal with pets. According to a study done by the National Association of Realtors, 61% of potential homebuyers found it difficult to find a rental home that accepted pets. Even if you're able to find an apartment, you might end up paying more for a security deposit to cover the potential costs associated with your pet. This can cause people to consider purchasing a home.

Another factor that causes people to move into a home is to give their canine companion space to run around. Having a fenced yard can give your pet the room to play and burn off some excess energy.

Don't wait another minute to find a dream home that caters to your needs. A real estate professional can find a home that can also work perfectly for your pet.

Sources: Homestartfc.com, Themortgagereports.com, www.nar.realtor


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