Now is the time to buy!
As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year. This survey was conducted prior to the Fed’s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30 percent this week. Increasing inflation, continued gains in the labor market and the Fed’s intentions for further rate increases—all three will keep pushing mortgage rates up this year.
This is my new favorite addition to our SmartHome. Ring Video Doorbell that will alert you on your phone when someone rings your doorbell or if motion is detected. For $30/year or $3/mo there is cloud storage for all the videos. It’s the internet of things! Click below to watch the video.
Other items we have installed in our SmartHome:
Amazon Echo: http://amzn.to/2f6QJpy
Amazon Dot: http://amzn.to/2l0V7VM
Echo Remote: http://amzn.to/2fBr34U
Wink Hub: http://amzn.to/2fBrjAU
Lutron Dimmers: http://amzn.to/2f9Qckk
iHome Outlet: http://amzn.to/2eaAumZ
Nest Camera: http://amzn.to/2f6SKSx
GE Smart Lightbulbs: http://amzn.to/2fBRnfo
Kwikset Deadbolt: http://amzn.to/2fFNyqj
Amazon Prime Membership: http://amzn.to/2eCDSdO
Property taxes make a big difference in your monthly payment and are a big expense of owning a home. Comparing the highest and lowest property tax rate in Montgomery County for a property assessed around $225,000 the difference is $767/mo using the 2 examples below. That is just in taxes! To get the yearly property taxes you multiply the property assessment by the tax rate.
The highest rate in Montgomery county is Cheltenham Township at 0.0566505. Cheltenham township currently has 184 homes for sale and the average listing price is $278,191. There is a house for sale located at 1000 Dell Ln, Cheltenham, Pa 19095 for $375,000. The assessment on that house is $221,330 x 0.0566505 Cheltenham Township rate = $12,538/year in property taxes.
The lowest rate in Montgomery county is Bryn Athyn Boro at 0.014759. I don’t work in this area but apparently Bryn Athyn Boro does not have a school district because 90% of the children go to the General Church of the New Jerusalem and the rest are contracted out to other school districts. There is only one house for sale currently for $499,000 located at 771 Fetters Mill Rd, Bryn Athyn, Pa 19006. The assessment is $225,670 x 0.014759 Bryn Athyn tax rate = $3,331/year in property taxes.
The total rate is broken down into 3 parts. The Montgomery county rate is 0.003459. The municipal rate varies but there are 2 municipalities with no municipal rate. Then there is the school district rate. Bryn Athyn Boro district is the lowest in at 0.001 because it doesn’t have schools & Cheltenham Township school district is the highest at 0.0450943. Choosing the school district to live in is important because it is the majority of your property taxes.