The residential real estate market is HOT. Builders are now officially bullish. The National Association of Homebuilders’ confidence index jumped 5 points to 55. Anything above 50 means that sentiment is bullish (things are expected to improve). The last time builders were bullish was July 2022. And after seeing the housing starts for May, we understand why. Housing starts jumped 22% MoM to 1.63...
Mary’s Blog
This is from a post on REtechnology on July 11th. Since I get asked from my buyers and sellers just when is the right time to buy or sell, I wanted to share this post. In the ever-changing world of real estate, timing is everything. The ability to identify opportune moments to buy and sell properties can make all the difference in maximizing profits and minimizing risks — but it requires a...
Many of my buyers when I first meet them ask, what does it take to get qualified for a mortgage? The below article goes over this. Factors that affect your mortgage pre- approval Jenna Connour Lenders start by looking at these three key areas of your finances before issuing you a home loan pre-approval A pre-approval is an essential step in the homebuying process that can help you determine the...
The lock-in effect Among U.S. mortgage borrowers, 96.3% have a mortgage rate below 6%, and they aren’t willing to give it up. The result is the fewest U.S. homes for sale since 2012. 26% have a rate under 3.00% · 70.7% have a rate under 4.00% · 91% have a rate under 5.00% · 96.3% have a rate under 6.00% This doesn’t mean we can’t find that home for you or if you are...
This article was sent to me by one of my mortgage lenders. It is really good and I thought I would post it here for all to see. Provided by Dow Jones By Holden Lewis --This article is reprinted by permission from NerdWallet. If you want to buy a home, it's tempting to be in denial that this is happening. The era of low mortgage rates is over. Embracing this reality will hasten your owning a...
Shortly we, as a country, will be celebrating the 4 th of July, which will be 247 years as a nation. During this time, our nation has grown and changes have occurred. In looking back over this time, I found a few quotes from Americans throughout this time. It is amazing how accurate these are for us even today. “They who would give up an essential liberty* for temporary security, deserve...
Parades, barbecues and fireworks displays are all synonymous with Fourth of July fun. After all, would it really feel like the Fourth of July without a good fireworks show? If you’re not going to a professional show and are planning to fire them off in your own backyard or other location instead, it’s important to plan ahead and take extra safety precautions to avoid hazards. Fireworks hold a...
The Fed Beige Book revealed, “Residential real estate activity picked up in most Districts despite continued low inventories,” while “home prices and rents rose slightly.” This is based on data and interviews from Fed Districts nationwide. CoreLogic reports U.S. home prices in April were up 1.2% for the month and 2% ahead of last year, representing “above average seasonal monthly gains...