GOOD MORNING. Just wanted to give you a brief overview of the Housing Market as it stands today. After slipping slightly in June, sales of new single-family homes moved up 4.4% in July, and are now 31.5% higher than a year ago. Good news for buyers, the median sale price is down 12.1% from its peak last year. Also down were existing home sales, off 2.2% from June to July, thanks the...
August 2023
Hello everyone! I thought since we live in New Mexico, I would put out some great information for those that live in the East Mountain areas as to how to improve your home’s survivability in a wildfire. We haven’t had as much rain this year yet, and with fall coming our ground covers and brush can become very dry. Review these safety tips for your home, it is one of your greatest investments and...
This was sent to me and I thought it contained some great information for all of you to read. (YoY =Year over Year, MoM = month over month) It was a rough week for would-be buyers and real estate professionals: 30-yr mortgage rates approached 7.5%, existing home sales dropped to 4.07 million units SAAR, and new purchase mortgage applications fell to 1995 levels. But keep your head up, because...
When you are looking at selling your home, you will want to know what to fix or upgrade to help your home get through an inspection from a home inspector. Naturally, everyone from real estate agents to home stagers to buyers have real estate-related “icks” — sudden and intense turnoffs that change your perception of a place in a matter of seconds. But I’m willing to bet that...
During COVID people stayed home to work and didn’t go into the office. In doing this, they realized they may not have to live where they were currently located or they decided they needed to change their living quarters to something that would work better, such as adding a room for an office or exercise room. Also, the interest rates were historically low. Now the housing market has changed....
As a real estate broker, I get asked all the time, is it worth doing this or that to our house before we sell it and will it help in getting us more money. Below is an article that may help you. Home remodels and upgrades have long been a way to increase the perceived value of a home. But belts are tightening in the current economy, and homeowners are turning away from big remodeling projects. In...
The weirdness continues: Inflation is plunging but mortgage rates are nearing their October 2022 highs. Blame the Fed (hiking rates again) and Fitch (downgrading our sovereign credit rating) and a job market that (literally) just won’t quit. Homebuilders, seeing an opportunity to fill a dire need for houses, are exhibiting more confidence and have accelerated activity in recent months after a...
Home inspections, while not mandatory, are an important part of the homebuying process. They can help you spot potentially dangerous and expensive issues in a property before you buy it, which may be a valuable negotiating tool. But home inspectors aren’t infallible, and they may miss things sometimes. So, how can you ensure the inspection goes smoothly and potential problems are identified?...