As many of us have seen, everything is becoming more expensive. Due to COVID-19, international shipping embargoes, and economic instability, the United States economy is experiencing rapid inflation. In response, the Federal Reserve has increased federal interest rates in an effort to decrease inflation and stabilize the economy. But while many people understand costs to be increasing, most don’t understand how it affects the housing market in the short and long term. Here are just a few effects that have and will happen to the housing market.
Due to the low supply of houses at the moment in the housing market, moving to a new home will be more expensive than it would be usually. As such, you may not be able to find a suitable house in your price range. Furthermore, first-time homebuyers may be at a disadvantage due to lower loan amounts. The prices are high but people are qualifying for lower loans which require a heftier down payment.
If you do find a house that fits your budget, you may have to pay an unfortunate amount of money on a mortgage payment every month. Even for the people that are not moving but have an adjustable-rate mortgage, their monthly costs are subject to increase as well.
Understandably, with mortgage rates on the rise and the costs of new homes so high, many people are interested in renting a home instead of buying one. This can make selling your house more difficult due to decreased demand in the housing market.
With all of the prices on the rise, you may be looking for a local mover to affordably move you. Here at Men On The Move, we offer quality moving services at affordable prices. Whether you are moving a short distance or over 40 miles, we can help you! Contact us or fill out our quote form to find out what we can do for you!
Looking to move this tax season? Tax season is the most stressful yet rewarding time of the year. Every citizen has to file their taxes, however many of them get significant tax returns. Many people use tax returns for various things. Home improvement, personal expenses, and other things that people would want to spend money on. However, this is a great time to make investments. Particularly, a great time to put money towards a house.
The first thing that comes to mind when thinking about the American dream is white picket fences. Owning your property is always a goal for people. Have your own space that you can design and make your own. Considering many tax returns can be significant, it can be a good start or the final piece of cash you need to get your starter home or your dream house.
Furthermore, owning a house can benefit you when tax season comes back around. Buying a house allows you to claim extra tax benefits by allowing new deductions for you. These deductions include:
All of these deductions can increase your next tax return and help your invest in your new home.
While owning a home is nice, it isn’t always possible. That’s why you can allow use your tax return to find a better place. You can use your money on a new apartment, flat, condo, or trailer. Regardless of where you decide to move, you should rely on a professional moving company.
Moving is one of the most stressful events in life. So, people need a reliable moving company to make this burden lighter. Since 1991, Men on the Move has provided professional moving services, locally and long-distance. Whether you are moving into a new home or apartment, you can reduce your anxiety and worries with our professional movers. Unlike other companies, our mover treats your belongings like it was their own. So, looking to move this tax season? Hire Men on the Move!
If you’re planning to buy a house, rent a different apartment or relocate your family anytime soon, chances are you didn’t think that moving could make you the victim of identity theft.
But during a move, homeowners and renters alike are particularly susceptible to identity theft — a crime which is especially prevalent during the summer, since half of all moves in the United States take place between Memorial Day and Labor Day. So in addition to packing and coordinating with the moving trucks, you also need to safeguard yourself from fraudsters.
“Regardless of what people say, you can’t prevent Identity theft. But you can be a lot more aware and take some strong precautions,” says Steve Schwartz, executive vice president of consumer services for Intersections Inc., an identity protection company.
Schwartz provided a rundown of simple steps that you can take to minimize your risk of identity theft and maximize your safety and security before, during and after a move:
Before you move, make a list of all the personal mail you routinely receive. Tell your banks, financial institutions, creditors and others of the move and redirect all correspondence, statements and sensitive mailings to your new address.
Be sure to notify:
a. Retirement accounts/banking institutions/credit card companies
b. Utility companies (electric, gas, water, cable, etc.)
c. Insurance companies (medical, property, renters, fire and auto)
d. Local government agencies, federal agencies & the IRS
e. Healthcare providers
f. Schools
g. Publications to which you subscribe (magazines, newspapers, etc.)
h. Clubs you have memberships in
Alternatively, consider switching to online statements. According to the 2010 Identity Fraud Survey Report from Javelin Strategy & Research, consumers with electronic statements needed less time to detect fraud and paid lower consumer costs ($116 vs. $274) than those monitoring paper statements.
Once your form has been filed, double-check the confirmation from the Postal Service to make sure that they list your new address correctly. Your mail should start being delivered to your new residence within seven to 10 business days after you submit a change-of-address filing.
Don’t leave behind any paperwork, including credit card offers, that con artists can use if they go through your trash. Instead shred them yourself. A good shredder will cost just $50 or so.
Mover fraud is on the rise nationwide. To thwart this crime, properly investigate local moving companies by getting recommendations from trustworthy friends, family members, and real estate agents. Also, check a mover’s rating with the Better Business Bureau. Finally, only pick a mover that is registered with the Federal Motor Carrier Safety Administration (FMCSA) and that has a U.S. Department of Transportation (USDDOT) number. The most reputable ones will supply you with this information on request.
This may not always be possible, but just being there with the movers could help deter potential identity theft. Plus, you’ll get to oversee any remaining packing or moving activities to make sure things are being handled properly.
6. Transport important physical documents properly
Transfer all sensitive documents – like wills, insurance policies, stock certificates or bonds – to a safe and secure place, such as a locked box, and keep these items with you personally during the move; don’t hand them off to your moving company. You can also transfer sensitive documents to an online secure vault.
Don’t make the mistake of leaving your computers (desktops and laptops included) readily accessible to your movers. Instead, secure those items before the movers even arrive. Take all computers, hard drives and other external storage devices with you during the move.
During his last move, “I packed my computers myself and they went in my car,” says Schwartz, adding, “That’s not a box you want to go with the mover.”
After your move, watch for unexplained charges or suspicious activity on your debit and credit cards. But also be aware that credit-related fraud “accounts for only about one-third of identity theft,” Schwartz says. Non-credit related problems actually make up the bulk of problems, with thieves stealing your personal information in order to open new cell phones or bank accounts, establish utility services, or even get payday loans and fake driver’s licenses in your name.
Use your previously-created checklist to make sure that everyone you notified about your move has, in fact, started sending your mail to your new address. If something is missing, follow up immediately to make sure mail isn’t still being routed to your old address.
After your move, even though there may be loads of boxes and furniture everywhere, carve out a secure zone – preferably one that’s off-limits to movers and others. This is where you’ll store computer items, check your data files or do personal financial record-keeping, like balancing your checkbook or reviewing credit card statements.
Regardless of whether you’re relocating across town or clear across the country, a move can be hectic and stressful. But by taking some or all of the steps above, you’ll help ensure that one important thing – your identity – doesn’t get overlooked during your busy transition.