Is Now the Best Time to Purchase a Home?

There’s good news all around for the housing market.  You can expect the remainder of the 2019 year to be one of the best that real estate has ever seen!  Unemployment is the lowest it has been in 50 years, wages are rising at a faster rate, and consumers are continuing to spend more (Federal Reserve, 2019).  So what does this mean for you? Now is a great time to tap into the housing market and finally take the first steps in your home buying or selling journey.  

Rates

We are experiencing historically low mortgage interest rates that drive this perfect storm. Mortgage interest rates are the compensation a borrower pays a lender for money used to purchase the property. Low mortgage interest rates give buyers the chance to build more equity in their homes quickly. Equity is the difference between the value of the home and the amount that is still owed on the home. Low-interest mortgage rates have the potential to help buyers purchase higher priced homes, and who doesn’t want a nicer home!

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For example, perhaps you were considering purchasing a home for $300,000 on a 30-year mortgage in the fall of 2018, but decided to hold off. That home if purchased right now, with the interest rate drop, would decrease the monthly payments by $160 per month and save about $57,000 over the life of the loan. So holding off last year worked, but we wouldn’t suggest that now.

Building Equity

Building equity is a fantastic advantage of being a homeowner.  Homeownership gives buyers the opportunity to build equity in their homes, which helps to grow their overall wealth.  Appreciation also helps to build equity in homes. Appreciation refers to a home’s increase in value over time while a homeowner is paying down the debt amount on a home. 

Over time and as equity increases, homeowners often convert this equity into the down payment of a “move up” or their next home purchase.  

So what does this mean for you? It means that it is a great time to buy a home! Now is a great time to buy a starter home, work to build equity, and eventually be able to buy your dream home.  


Credit Opportunities

There are an abundance of mortgage programs available to homebuyers. Mortgage programs are put in place to help people purchase homes. These programs can help with everything from down payments to renovations. These credit opportunities and programs allow customers a selection of programs that can be tailored to meet financial goals and ultimately secure the home.

The outlook for mortgage rates to remain low is very good based on the actions of our Federal Government.  The recent FOMC/Federal Reserve meeting adjourned with an announcement of reducing the Federal Funds Rate by a quarter of one percent.  This announcement will help to keep mortgage interest rates at the current historic levels.

Are you ready to buy or sell a home? You will need the help of a local real estate agent to make the most of the market. Give me a call today for a NO OBLIGATION home market analysis.


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The Best and Most Scenic Places to Kayak/Canoe Around Pittsburgh

Kayaking is The. Best. And no matter what you’re looking for, Pittsburgh has you covered. Believe it or not, our city is consistently ranked as one best kayaking cities in the US. Three rivers, endless fun. But we also have water trails, multiple classes of rapids, and untouched wilderness waiting to be paddled. Pack up some gear and head to these epic kayaking spots around Pittsburgh.

1. The North Shore

Explore the North Shore - traveling past such landmarks as Heinz Field, PNC Park, and the Carnegie Science Center - aboard a kayak or a canoe. Bring your own kayak or canoe or rent one from Venture Outdoors then hit the water where you'll be treated to stunning views of Pittsburgh.

2. The South Side

Head to the boat launch at Southside Riverfront Park and slip into the water for an afternoon of exploration on the Monongahela River. Meander down the river toward Station Square where you can indulge in views of both Mount Washington and the Pittsburgh skyline.

3. North Park

Escape the city for adventure at North Park. Launch your kayak or canoe on North Park Lake. Venture Outdoors offers rentals of kayaks, canoes, paddle boards, and rowboats. Spend an afternoon on the shimmering lake before grabbing a burger at the OTB Bicycle Cafe.

North Park is located at 303 Pearce Mill Road, Allison Park, PA 15101.

4. Loyalhanna Lake

Journey to Bush Recreation Area in New Alexandria where you can spend a leisurely day aboard the waters of Loyalhanna Lake. The recreation area also offers picnicking and camping sites, an ideal spot for a quick getaway.

Bush Recreation Area is located at 720 Bush Road, New Alexandria, PA 15670.

5. Lake Wilhelm

Nestled in Maurice K. Goddard State Park, Lake Wilhelm provides an idyllic backdrop for a day on the water. Slip your kayak or canoe into the 1,680 acre lake that offers spectacular views of the state park. After a day on the water, go hiking, biking, fishing, or picnicking.

Maurice K. Goddard State Park is located at 684 Lake Wilhelm Road, Sandy Lake, PA 16145.

6. Moraine State Park

Discover the sheer beauty of Lake Arthur, the 3,225 acre masterpiece of Moraine State Park, where you can spend a day lounging on one of the two beaches or explore the lake on a kayak or a canoe. Moraine State Park also features hiking and biking trails, windsurfing, fishing, and camping.

Visit Moraine State Park at 225 Pleasant Valley Road, Portersville, PA 16051.

7. Keystone State Park

Meander around Keystone Lake on a kayak or a canoe. The cozy 78-acre lake also boasts a sand beach and a concession stand. Go fishing, hiking, biking, or camping in the 1,200 acre park.

Spend an endless summer day at Keystone State Park at 1150 Keystone Park Road, Derry, PA 15627.

8. Conemaugh River

Enjoy the calming waters of the Conemaugh River in Saltsburg. Follow the river from Saltsburg to Johnstown for the ultimate summer adventure.

9. Ohiopyle State Park

Hit the Youghiogheny River at Ohiopyle State Park for a day of adventure. The water can get choppy so your best bet - if you're new and inexperienced - is to take a beginners course with a company like Make Wilderness Voyageurs.

Ohiopyle State Park is located at 124 Main Street, Ohiopyle, PA 15470.

10. Allegheny Islands State Park

Discover the hidden Allegheny Islands State Park, boasting two undeveloped islands, where you'll find the perfect spot to kayak or to canoe and to explore.

Allegheny Islands State Park is located in Cheswick, PA 15024.


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7 Best Fishing Spots in Pittsburgh

Pittsburgh may not sound like such a glorious destination for anglers, but there are many hidden spots here that will convince you otherwise and give you the opportunity to use your telescopic fishing rod. There is a diverse aquatic life thriving in the waters here, and you will also appreciate how family friendly the area is. For both beginners and seasoned anglers, this place has something to offer. Here are the best fishing spots in Pittsburgh that should be on your list.

Cross Creek Lake, Washington County

One thing that anglers might hate more than anything in the whole wide world is having to fight crowds while they are trying to drop a line. There is no reason for you to encounter such troubles if you choose Cross Creek Lake in Washington County as your destination for fishing in Pittsburgh.

The low key atmosphere is not the only excellent thing about this location, though. You will find the scenery beautiful and calming, and here you will be able to enjoy some amazing bass fishing opportunities. Anywhere from Hickory to Avella, you will find plenty of great spots for catching bass.

Another great thing about this destination is that it caters to fishers, making your vacation even more comfortable. The boat ramp is paved and easy to access, and you will find plenty of public docks from where you can embark on your fishing adventure. Also, the pier is accessible by wheelchair, which is a great plus.

Nine Mile Run

Another option and fantastic answer to the question ‘where to fish in Pittsburgh?’, the Nine Mile Run offers plenty of opportunities for the angler in you. The place used to be a sewer, but its Frick Park location demanded it to be transformed into an area more suitable for engaging activities.

Be aware that you will have to wade through vegetation rich patches and many small pools until you reach the proper spots. However, if you don’t mind a little adventuring while hunting down the perfect location for casting your line, this place has its perks.

Many people come here because they appreciate the off the beaten path feel of the place. It is not a traditional spot for anglers, but it is a hidden gem that deserves its place on this list. The urban setting represents an enticing location for those who are looking for vacationing in a low-key spot.

 

Keystone Lake, Armstrong County

Escaping the city life is not something easy to achieve, and, when it happens, not many of us are comfortable with the idea of giving up on all the things that make our lives easy. If you’re looking for a place that can combine what’s best of both worlds, that would be Keystone Lake, located in Armstrong County.

The rural area is low-key and comfortable, but it is within such short distance from the city, that you won’t feel like you are losing anything. The lake has a surface of 78 acres, and it is filled with largemouth, carp, and catfish. As you can see, there are plenty of fishing opportunities to enjoy.

In winter, you can enjoy fishing in the area just as much. If you’re into ice fishing, you will discover the pleasures of trudging over the frozen water body and struggle to drill a fishing hole through the ice so that you can reach the thriving fish underneath.

 

Raccoon Lake, Beaver County

You will get the same rural vibe from this location as from the one mentioned earlier. The state park where this lake is located offers many essential amenities for the tourist found in search of fishing experiences. If you want to know, the Raccoon Creek State Park offers plenty of entertainment options, in the shape of canoes, kayaks, and rowboats.

No matter what way you prefer for exploring the lake, you will discover that fishing here is relaxing and rewarding. Water paddling is a pleasant activity, but, by no means, you are forced to engage in boat fishing only.

Those who are also interested in fishing off a pier will find the local one to cater to their needs quickly. The waters are rich in bluegill, and there are plenty of sunfish, as well. For a low-key vacation with the entire family, choosing this destination will bring you closer to enough fishing action, while still keeping a relaxing atmosphere.

 

North Park Lake

You might have heard about the substantial restoration project this lake was part of back in 2012. The local authorities invested 21 million dollars in making this place worthy of being included among the top destinations for fishing in Pittsburg.

The lake is thus managed, and stocks of fish are catered for by those involved. The waters are now populated with bass, bluegill, and other species of fish that prefer warmer waters. You will find many boat rental options nearby, so you will not miss anything, in case you want to engage in some boat fishing.

Seasoned anglers will even find fishing here enough of a challenge to address their interests. You may have to establish the best times for dropping a line here, after putting some elbow grease into studying what fish species are most likely to get into your hook, depending on the season.

Point State Park

Another excellent option for those who seek a perfect fishing spot in Pittsburgh is Point State Park. Here, you will be able to enjoy stunning views, and you can cast your line for catching a wide variety of fish. The waters here are rich in walleye and panfish, but anglers swear by sauger and catfish being in equally numerous amounts, as well.

Besides offering amazing backdrops, and fishing opportunities, this location draws attention for other reasons, too. People with disabilities can access the wharf spot so they can indulge in as much fishing as they like.

There are other fish species that are much sought after here. If you don’t mind adventuring on a Sunday to search for bass, this is the best spot where you can go for such a challenging experience.

 

Highland Park Dam

If you go up the Allegheny River, you will find the Highland Park Dam, an excellent location for fishing in Pittsburgh. One thing to keep in mind is to be aware of water levels. As long as they are low, you will find plenty of walleye in these waters. There was, a few years ago, a feeding frenzy that made quite an event that drew anglers from all over the place.

Too much popularity may be a bad thing, like the fact that this place was touted by major specialized media outlets as being the best spot for fishing in the area. Since you are offered the opportunity to fish while remaining within the city, there is hardly a more comfortable place for such activities.

As long as you don’t mind the area being more crowded than most, and swarming with both local anglers and tourists, you will find the dam an excellent opportunity for dropping a line. However, be aware of the competition for the fish you will have to fight to get a few specimens out of the water.


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How to Save Money on a Fixer Upper

You might find yourself binge watching shows on HGTV like “Fixer Upper”, “Property Brothers” or “Flip or Flop” and thinking that you want to purchase a home to flip or a fixer upper for yourself.  The idea of home renovation is appealing to many, but before you find yourself in a money pit, here are some tips and tricks to know before purchasing a fixer-upper.  

1.Create a realistic budget 

When searching for a home to flip, it's important to have a budget set before looking for a home.  It's easy to have a budget of $350,000 and purchase a home for $250,000, but you will need to assess the renovations that need done and make sure that your remaining budget will cover the updates.  Don’t forget about those closing costs!

2.Hire a reputable contractor

If your new home requires a significant amount of work it will be a good idea to hire a contractor or subcontractor.  These are professionals who will make your lives a lot easier. Even if you think you can get the job done yourself it's still best if you hire someone for the HVAC, plumbing, electrical or roofing.  That being said, be sure to ask around. Don’t be afraid to even ask the contractor for references before hiring him or her. You can never be too sure when you are about to spend a lot of money on your new home!

3. Decide what to DIY

Once you have found a contractor that you want to work with, now is the time to determine what projects you are going to tackle.  You will be able to save a ton of cash off the bat if you do things like painting, tiling, installing flooring, and landscaping yourself.  

4. Assess future repairs

When purchasing your home, you need to determine what needs to be done before move-in and what you can save for later.  It's also a good idea to budget for emergency funds during the time you are renovating your home. 

5. Don’t Rush

Once you have bought your home, try not to rush into getting the house finished.  Fixing up a house can take a lot of time and patience is key when it comes to home renovation. Rushing through the process can be a costly mistake.  

Now that you have decided to take on a fixer-upper, you are almost set.  Follow these five tips and the renovation of your dream home will all come together!


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7 Tech Items to Make Your Home a Little Smarter

Smart devices for your home are hot on the market right now and they are more than just telling Alexa to play your favorite song.  You can now turn off your lights, vacuum the floors and even grill for your family BBQ! Our home devices provide a sense of convenience, particularly when they’re ordering pizza or calling your family member, but in 2019, they can also tackle more serious tasks, like acting as your home security system when you’re out of town. 

Ring Doorbell

With a simple installation process, the Ring Doorbell can improve your home’s safety and make life a lot easier.  The Ring Doorbell takes the place of your existing doorbell and provides motion detection anytime someone comes to your door. You also have mobile access to view your front door anytime. Simply download the app to your phone and you will be able to communicate with someone at your front door from anywhere. Another great feature through the Ring App allows you to share your feed with other users.  Simply open the app, click shared users and then add a user. This will allow your neighbors to keep a watch on your home when you are away or even catch a package thief. 

Nest Thermostat 

The Nest Thermostat is the first thermostat that is Energy Star Certified and is built around learning your schedule. The nest helps you save energy and money in your home by self-adjusting your temperature when you are not home or based on your living habits.  You can also control your home through the Nest app when you are away.  

Amazon Echo

The Amazon Echo is a hands-free speaker that is controllable by your voice.  The Echo connects to Amazon Alexa Voice Service to ask questions, make calls, send and receive messages, provide information, check the weather and more! You can also play your favorite music from streaming services such as Spotify, Amazon Music and Pandora!  The Amazon Echo also can connect to your other smart home devices to make life easier.  

SimpliSafe

The SimpliSafe alarm system will change the way you protect your home.  This home security device is the only one on the market with Smash Safe technology that will alert the police if damage is done to the device. Getting the police to your house that much faster.

Philips Hue Smart Lightbulb

Philips Hue is not just a smart bulb, it's a smart lighting system. The smart lights, Hue Bridge, and smart controls will forever change the way you experience light. With the Philips Hue, you have the convenience of turning off all your lights with one tap. Discover the magic of using color to transform the atmosphere of your living room into a home cinema. Or select the optimal light to help you concentrate better or relax after a long day and even when you're away, you can program lights to make it seem like you're actually home.

Roomba iRobot

The Roomba by iRobot will change your life! Make cleaning easy with your new best friend. The Roomba is a robot vacuum that learns the route of your home and will take all the work out of cleaning your home. It is a must for a home with pets. 

 

August Smart Lock

With the August Smart Lock, you will never have to worry about forgetting your keys again.  You will be able to use your smartphone as a key to lock and unlock your door through a mobile app.  The August Smart Lock will also allow you to create virtual keys for guests, monitor who comes and goes from your home and unlock your home when you are away.  

Managing your home just got so much easier.  Vacuum with ease with the Roomba or set a timer to cook with Amazon Alexa,  there are so many smart home devices to choose from!


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A Foodie's Guide to the Best Pittsburgh Restaurants

Calling all Pittsburgh foodies! Pittsburgh’s lively and expanding food scene is one of our favorite things about calling the Steel City home.  From food trucks to our more traditional Yinzer cuisine like Primanti Brothers and Pamela’s Diner, there’s something here for everyone.

Gaucho

Located in the Strip District, Gaucho Parrilla Argentina serves wood-fired delights with an Argentine flare. Gaucho is BYOB and has a changing menu that will leave you wanting more. A crowd favorite is the homemade empanadas or paella big enough to feed a party of eight! Open Tuesday through Saturday, Gaucho is a dining experience you won’t want to miss out on.  

Sienna Mercato

With three distinct dining options under one roof, Sienna Mercato brings a unique restaurant experience to Pittsburgh’s Cultural District. Italian with a twist, made fresh daily in the scratch kitchen.  Whether you're in the mood for Emporio, A meatball joint, that features gourmet meatballs, salads, soups, and poutin or you want to head up to Il Tetto, a rooftop beer garden there's something for everyone at Sienna Mercato.  

Steel Cactus 

At Steel Cactus, you can live every day like its Taco Tuesday.  This Mexican Cantina has locations in the Southside, Shadyside, Bethel Park, and Southpointe you can enjoy this Mexican cuisine anywhere! Local favorites are the Mexican street corn or the molcajete bowl which is steak, chicken, jalapeños, and shrimp served in a heated molcajete bowl with queso fresco, avocado, and lime.  Served all day Monday - Sunday, Steel Cactus even offers brunch! 

The Porch

Located in the heart of Schenley Park, The Porch believes in food done right.  Their menu is an eclectic mix of the familiar and surprising, creative new recipes as well as classics with a twist.  With just a short walk from Pitt’s campus, The Porch is a great place to sit outside and experience Schenley Plaza, one of the city’s prominent city parks. The seasonal menu includes something for everyone, including sandwiches, seasonal salads, and pizza. Local sourcing starts as close as the rooftop garden.

Pittsburgh truly has it all when it comes to food.  From Mexican to Italian there are tons of options for anything you are craving! 


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Tips For a Stress Fee Buying Process

Whether you are a first-time home buyer or a seasoned moving professional, the home buying process is stressful.  It’s a complicated process involving both strong emotions and what may be the biggest financial investment of your life.  In the process, a lot of times things do not go how you expect and are beyond your control. However, there are ways you can minimize the stress involved and get through the process with fewer bumps in the road. Listed below are five steps to make your home buying process less chaotic.  

1. Have an Idea of your Wants vs. Needs in a Home

There are a lot of things to be considered before buying a home.  One of the first steps is determining what you need in a home. During this time, be open with your agent and tell them your wants vs. your needs.  You don’t want to waste time looking through homes that you are not interested in. Being upfront with your agent about what you want can narrow down the listings and speed up the home buying process.  


2. Be Flexible 
Unless you are building from the ground up, the perfect home does not exist.  Learn to be a little flexible when it comes to what you want in your new home.  If the home comes in under your budget, you can use that money to make renovations on the home after purchase.  

3. Get a Mortgage Pre-approval

Securing a mortgage can be a complicated and timely process.  When you are preapproved or prequalified for a mortgage, you gain an advantage and have the opportunity to bid on the home you would like to purchase before buyers who are not as prepared. Getting a mortgage pre-approval could be a good idea because it gives you an idea of exactly how much you will be approved for.  It will also save any headaches or heartaches of not getting approved once you have found your dream home.  

4. Listen to your Agent 

Your real estate agent is here to help you.  Taking the advice of a trusted professional when it comes to buying a home will become beneficial to you in the process.  Things can get complicated, so just sit back and know that your real estate agent has your best interest at heart.  

5. Save for the unexpected

Buying a home can lead to a lot of unexpected expenses.  From closing costs to moving expenses along with your down payment on a home, there are a lot of added costs to think about. Our agents will even give you a detailed list of closing costs to make things go more smoothly.  When you think you are ready to buy a home, it would be a good idea to sit down with a financial advisor to determine if you are financially ready to make such a big purchase. 

Buying a home can be an exhausting process.  From getting a mortgage to a home inspection, there are many things to worry about. Choosing The Right Agent Matters give me a call today!


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Six Benefits From a Fresh Coat of Paint

Sellers, are you stuck on how to update your home before listing it?   How about adding a touch of paint? We have put together a list of benefits that a fresh coat of paint can add to your home when selling.  

Change of Trends

Did you ever paint a trend that now looks out of date? It's a good idea to take a look at your paint colors and make sure they match design trends today.  Painting a loud, dark purple room a light gray or taking down the floral wallpaper could be more attractive to buyers, especially those who are searching for a move-in ready home! 

Can Make Small Rooms Feel Larger

Strategic painting is one of the easiest ways to make your home look larger with minimal effort.  Try painting your ceiling a lighter color than the rest of the room for a high-ceiling appearance, or make a space look larger by painting the walls soft tones of off-white, blues, or greens. If you paint the trim and molding lighter than the walls, it will make the walls appear farther back, giving the space an overall larger appearance. 

Lightens and Brightens

A dark room can initially make a room feel smaller, gloomy, and uninviting.  If you have a dark room in your home, try painting it a lighter shade in the same family or a neutral color.  Incorporating neutral or light colors can make a huge difference in the way a potential buyer perceives the space. 

First Impression

The first impression of your home could be the difference between a walkthrough and an offer.  Fixing peeling paint on walls or scuff marks with a fresh coat of paint will make your room look fresh, crisp, and attractive to your potential buyers.  This will also give your home a better online presence as 90% of buyers look at homes online as part of their search.  When choosing a color for the interior, neutrals and earth tones are often the go-to paint colors. Choosing these neutral colors will create a great staging presence and really allow buyers to envision themselves in the space.  

Boosts Curb Appeal

Painting the outside of your home can instantly boost the curb appeal of your home and make a lasting impression on buyers.  If your home is faded or has chipping, curling, or bubbling paint, it would be a good idea to repaint your exterior.  You could also opt to add a pop of color to the outside of your home by painting your shutters or a door for a touch of drama.  

Affordable

Painting is an easy way to give your space a fresh, updated look before it goes on the market that won’t break the bank.  You can paint one room to brighten it up, go all out by painting every room, or paint the entire exterior of your home. Although it may take a little time, painting is one of the most cost-effective improvements you can make to your home that will make it more appealing to buyers.

As you’re making your to-do list before listing your home, think about adding a fresh coat of paint as an investment to your home.  From making a good first impression on buyers to making your rooms look brighter and bigger, a new coat of paint will do the job! 

Have you heard about our New Neighbor Program?  Berkshire Hathaway HomeServices The Preferred Realty can offer its clients exclusive discounts from area vendors, including PPG Paints, through our New Neighbor Program.  Want to know more?  Lets talk!


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6 of The Best Spots to Take Your Dog in Pittsburgh

Now that it's finally July, it’s time to start enjoying the summer.  There's no better feeling than spending time with man’s best friend. These six dog-friendly spots in Pittsburgh will let you and your pet enjoy the summer together! 

North Park

Take a hike or grab a bite to eat at Over the Bar Bicycle Cafe with your dog.  North Park, Located in Allegheny County is a great pet-friendly spot to take your dogs.  The park is full of trails, fenced-in dog parks, and even a lake they can swim in! There are two dog parks located at Pierce Mill Road and Walter road.  The completely fenced in area is complete with spring water and the perfect place for your pup to run free!

PNC Park

Watch the Pittsburgh Pirates play with your best friend every Tuesday! PNC Park hosts PupNight where you can bring your dog to the park for just $36.  PNC Park has dog-friendly vendors and snacks throughout the game.  

Lucky Paws Resort

Lucky Paws Pet Resort offers a zero-entry pool that your dogs can walk right into!  Lucky Paws is the perfect place to take your dog for a swim any day of the week.  Open 3-7 Monday- Friday, and 12-5 on Weekends, entry is only $10!

Hartwood Acres 

Hartwood Acres Hosts the annual Pet n Play.  This is an event that your dogs will enjoy as much as you! Pet n Play is a free event hosted by Rachel Ray Nutrish, the 2019 date is yet to be set, but keep a look out on their website for more information.  

Double Wide Grill 

The Double Wide Grill is a Pittsburgh-born-and-bred original, featuring barbeque, vegan and vegetarian foods, plus 40 draft beers and a full bar. With three dog-friendly locations in Southside, Cranberry and Irwin, this is the perfect spot for you and your pet to enjoy a meal! 

Shadyside

Shadyside, home to Walnut Street, hosts thousands of Pittsburghers for shopping, dining, and entertainment. Most of the shops in the area welcome dogs with open arms.  There are over 50 shops that allow dogs including Lululemon, Coffee Tree Roasters, The Shady Grove and Patagonia. Take a walk around town, shop and enjoy a meal with your dogs! 

Grist House

Grist House, located in Millvale is the perfect place for a dog.  This craft brewery has ample space for your pet to run around and play with all the other dogs.  Enjoy a bite to eat from the food trucks, grab a drink and enjoy being outside with your pup!


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How to Purchase a Home Even if You Have Student Loan Debt

Many people who want to buy a home put it off until they can completely pay off their student loan debt. And while that is a responsible choice, it is not a necessity. As long as you do a thorough examination of your current debt, financial priorities, and maximize the following aspects of your finances, you can qualify for a loan.  

Improve Your Credit Score

The biggest thing financial institutions will look at when deciding whether to lend you money is your credit score. The good news is, your student loan debt may have even helped increase your score if you have been keeping up with the payments. Along with regularly checking your score to make sure there are no errors and fixing and any problems you might find, use these following tips to maintain or increase your numbers.

  • Pay all bills in full before or on your due date.

  • Don’t close old accounts. An account you have had for a while that is in good standing will help your credit. The longer your credit history and the older the average age of your accounts, the better your credit score.

  • Have a variety of credit accounts. Lenders like to see a mix of debt like credit cards, car payments, or student loans that prove you can manage different types of loans.  

Keep Credit Utilization Low

Lenders will look at your monthly credit card spending against how much credit you have available. You want your credit utilization to be less than 30 percent, and under 10 percent is your ultimate goal. So if you have a $20,000 credit limit, $6,000 in debt is 30 percent of your limit. To decrease your percentage, you can ask your lender to increase your limit and you can pay toward your balance multiple times a month if you have the extra money.

Keep a Low Debt to Income Ratio

A debt-to-income ratio (DTI) is how much money you owe in student loans, personal loans, car loans, credit cards, etc., divided by your gross monthly income. Mortgage lenders use this to figure out whether you are a good candidate for a loan. Lenders will also include how much money you will need for your mortgage every month. However, your mortgage broker won’t consider the money required for utilities, groceries, insurance, healthcare, childcare, etc. -- so, make sure you are including any of those costs within your own budget.

Apply for Pre-approval

Pre-approval from a lender can help you calculate the costs and down payment of purchasing a home. Mortgage companies will want to see your two-year employment history, credit history, income and assets. Read more about the pre-approval process here.  

Figure Out Your Down Payment Options

Research the options available to you or contact a mortgage broker to see if you qualify for any federal or local programs. You may be able to take advantage of federal loan programs, even with your student loans. You may qualify for an FHA loan, which would mean a down payment of as little as 3.5 percent. An FHA loan is guaranteed by the U.S. Federal Housing Administration (FHA). Because of the government’s guarantee, lenders are willing to make loans when they would otherwise not.

Many people think having the burden of student loans weigh them down will prevent them from buying a home.  Luckily, that is not the case. Feel free to reach out to me and I would be happy to help you!


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