A Taste of Covington’s Vintner’s Dinners 2024, June 4 – 27, 2024

/in

There will be four or more courses with wine pairings in Covington.

Vintner’s Dinner

6:30pm drinks & 7pm

June 04 – Gallagher’s Grill
June 05 – The Gloriette + Plump Jack Wines
June 11 – Valencia Restaurant
June 12 – Tavi + Daou Vineyards
June 13 – Seiler Bar
June 14 – Desi Vega’s Steakhouse
June 20 – The Greyhound
June 21 – Cured. On Columbia
June 25 – Marcello’s Restaurant & Wine Bar
June 26 – Del Porto Ristorante
June 27 – Dakota Restaurant

*reservations are required

 

 Click Here for More Information.

Annual Mid City Bayou Boogaloo, May 19, 2024

/in

This is an awesome festival with music, food, art, and community in Bayou St. John.

Mid-City Bayou Boogaloo

New Orleans, LA 

May 19, 2024

Tickets:  $15 – $199+

Click Here For Music Line Up

 Click Here for More Information.

 

Mid City Bayou Boogaloo Festival, May 18, 2024

/in

This year there will be water tickets at the festival at Bayou St. John.


Mid-City Bayou Boogaloo

New Orleans, LA 

May 18, 2024

Tickets:  $15 – $199+

Click Here For Music Line Up

 Click Here for More Information.

 

2024 Annual Mid City Bayou Boogaloo, May 17, 2024

/in

Patrons will float on a raft, or boat at the festival in Bayou St. John.


Mid-City Bayou Boogaloo

New Orleans, LA 

May 17, 2024

Tickets:  $15 – $199+

Click Here For Music Line Up

 Click Here for More Information.

 

New Home Sales Flat in February Due to Slight Rise in Mortgage Rates

/in

A slight increase in mortgage rates in February led to a stagnant reading for new home sales.

Sales of newly built, single-family homes in February edged 0.3% lower to a seasonally adjusted annual rate of 662,000, according to data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly dip, the pace of new home sales in February is up 5.9% from the same period last year.

“While new home sales remained flat in February, our latest home builder surveys show increased levels of confidence driven by the ongoing lean levels of existing home inventory,” said Carl Harris, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Wichita, Kansas. “As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.”

NAHB Chief Economist Robert Dietz added, “A slight uptick in mortgage rates held back the pace of new home sales in February. Our latest builder surveys show that roughly one-quarter of builders reported cutting home prices in March. The price cuts, in combination with building slightly smaller homes, can be seen in today’s data that show a 7.6% year-over-year decline for median new home prices.”

Mortgage rates averaged 6.78% in February, up from 6.64% in January, according to Freddie Mac.

A new home sale is recorded when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction, or completed. The February reading of 662,000 units represents the number of homes that would sell if this pace continued for the next 12 months, adjusted for seasonal effects.

The inventory of new single-family homes in February remained elevated at 463,000 units, up 1.3% from January. This represents an 8.4 months’ supply at the current building pace. A 6 months’ supply is typically considered balanced. However, with only a 2.9 months’ supply of existing homes for sale, new home inventory can remain above this balanced measure.

The median new home sale price in February was $400,500, down 3.5% from January and 7.6% lower compared to a year ago.

Regionally, on a year-to-date basis, new home sales have seen significant increases in the Northeast (up 47.0%), the Midwest (up 29.7%), and the West (up 41.0%). In contrast, new home sales in the South have decreased by 13.4%.

As the housing market continues to adapt to fluctuating interest rates and inventory levels, builders and buyers alike are navigating a complex landscape. However, with the potential for interest rates to decrease over the course of 2024, there is optimism that more buyers will enter the market, necessitating further new home construction to meet demand.

Click Here For the Source of the Information.

Key Tips for Navigating the Home Buying Process

/in

Between a fluctuating housing market and sky-high mortgage rates, today’s homebuyers face a tricky landscape. KeyBank’s 2024 Financial Mobility Survey highlights three main concerns for recent and prospective homebuyers: inflation (40%), market competition (36%), and interest rates/mortgage rates (34%). Surprisingly, only 37% of respondents are proactively creating a budget and financial plan for their home purchase.

Despite current economic conditions, the dream of homeownership remains attainable. Here are several steps and resources to help you achieve this goal.

Tip 1: Create a Dedicated Savings Account for Your Down Payment

Setting aside money in a dedicated savings account is a crucial first step and is the most common savings strategy (43%) among those in the market for a home, according to KeyBank’s survey. These funds can be used for a down payment, typically 5% to 20% of the total loan amount. However, saving beyond your goal amount can help ensure you have emergency funds for unexpected expenses.

The survey found that half of new homeowners (51%) plan to use more of their savings next year compared to those currently in the market for a home (45%) or who don’t own a house (35%). Having extra money set aside can help you be prepared for any unforeseen costs.

Tip 2: Check Your Credit Score

Your credit score significantly influences mortgage approval and interest rates. One-third (34%) of those who completed the KeyBank survey and are in the market for a home or have purchased one in the last 12 months cited interest and mortgage rates as a top factor in their purchasing decision.

During your homebuying journey, avoid closing any active credit cards or opening new lines of credit, as this can negatively affect your score. Building your credit a few years before shopping for a home is wise. You can do this by opening and maintaining a credit card, such as the Key Secured Credit Card, paying your bills on time, and keeping credit card balances low.

Ensure you dispute any errors on your credit report before applying for a mortgage.

Tip 3: Establish a Relationship with a Mortgage Loan Officer

Meeting with a mortgage loan officer can provide a personalized approach to finding the right mortgage and assessing your overall finances. According to the KeyBank survey, only 12% of respondents who are in the market for a home or who have purchased one in the last 12 months did not or will not work with a mortgage loan officer.

Mortgage loan officers can help you plan for additional costs, such as moving and renovation expenses, homeowner’s insurance, interest, and taxes. If you’re not ready to meet with a mortgage loan officer, online tools like mortgage calculators can help you understand what is needed to purchase your home.

Tip 4: Identify Ways to Reduce Out-of-Pocket Costs

Many states and financial institutions offer assistance programs for first-time homebuyers and other borrowers. Depending on your income and location, you may be eligible for special purpose credit programs, including grants, additional loans, interest rate discounts, and other monetary assistance for closing costs and fees associated with financing a new home.

For example, KeyBank offers three Special Purpose Credit Programs to help borrowers with qualifying properties in eligible communities. These include the Neighbors First Credit, which provides up to $5,000 toward closing and other costs, and the Key Opportunities Home Equity Loan to assist with home-improvement costs after your purchase.

You can find more information about programs like these online or contact your bank to access these resources.

Sustainable homeownership is a powerful wealth-building tool that can help families and neighborhoods thrive. While the homebuying process can be challenging, the right steps and resources can make it achievable. By creating a dedicated savings account, checking your credit score, establishing a relationship with a mortgage loan officer, and identifying ways to reduce out-of-pocket costs, you can make buying the home of your dreams easier.

Click Here For the Source of the Information.