Housing and Labor Day Travel

As hard as it is to believe it is Labor Day weekend – the unofficial end to summer.

This Labor Day, AAA is predicting that 34.1 million Americans will hit the road and travel at least 50 miles this weekend, making it the busiest Labor Day in the last four years.

Part of the reason for this increase in travel is actually – housing.

According to the AAA study, consumer confidence is increasing as their home values increase. With the improvement in the housing market, consumers feel that their largest asset, their home, is more valuable. This increase in confidence leads to more spending and this weekend – more travel. 

This is just another piece of evidence that points to the importance of the housing market in our overall economic recovery.

Will you be traveling this Labor Day?

Rainy Day Home Maintenance

It's been a wet summer.

Don't let those rainy days get you down. There are some great home maintenance items that can be done when the weather has you trapped inside.

• Check smoke detectors and replace batteries if needed
• Clean out dryer vent
• Make an itemized list of valuables, electronics, etc in case of emergency. Take photos and get model information.
• Read through the instruction manuals on your home appliances and systems

Then relax and enjoy the sound of the rain!

What home maintenance items do you like to take care of on a rainy day?

Coming Soon!

Park Ridge Builders is pleased to introduce its newest neighborhood, The Hamptons. Homes will start in the $190's. Check back to our website for more information as it comes available.

Buying Power

If you've done any research into buying a home you've probably come across the term "buying power". Simply put, "buying power" is your ability to maximize your money when purchasing a new home.

Interest rates greatly affect your buying power. Historically speaking, today's interest rates are extremely low. This means that the money you pay in order to
borrow money for your home is much less than it was in the past. With lower interest rates your monthly payment is lower and you can afford a more expensive home than you could before - thus your buying power has increased.

Interest rates are going to slowly rise and as they do it will erode some of your buying power. Now is the time to buy, before rates go higher!  You'll be able to afford more home than you thought possible while the interest rates remain low.  They won't be this low forever so don't miss this opportunity to maximize your buying power!