As a Realtor, I get asked "when interests rate drop, should I refinance?" Well, I am not a mortgage broker, but I recently came across this article from one about this subject and felt it would be great to share. Mortgage rates have dropped. Should you refinance your home? October 8, 20241:25 PM ET Written by Laurel Wamsley Mortgage rates have dropped significantly in recent months, and that...
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107,800 = Economic Impact of a Home Sold in NM Posted on May 07, 2024Posted in Advocacy, GAAR News, SWMLS, Statistics, NAR Real estate has been, and remains, the foundation of wealth building for the middle class and a critical link in the flow of goods, services, and income for millions of Americans. Accounting for close to 18% of the GDP, real estate is clearly a major driver of...
May you all have a very Happy Easter and enjoy this time with family and friends. This is a time to reflect on many areas of ones life as this is a very special day for many of us. When you have the time, sit down and take a look at the local real estate market. If you are looking to sell or buy this is important to know. Pick up the phone and call or send me a message. I am here to help you...
Appraised Value vs. Market Value When it comes to real estate, understanding the value of a property is more than just a number—it's about making informed decisions. The often-confused concepts of "appraised value" and "market value" leave many confused. Understanding the differences between the two is crucial for navigating property transactions successfully. What is Appraised Value? The...
I thought you may want to know what the housing market is looking like with all the craziness going on in the finance world. So below is a report I received this morning about that. Increasing for the first time in six months, housing starts shot up 9.8% in February, with both single-family and multi-unit projects posting gains. Building permits did even better—up 13.8%, the largest monthly gain...
This past week, home loan rates improved to their lowest levels in a month in response to the closures of Silicon Valley Bank (SVB) and Signature Bank. Let's walk through what happened as we approach the Fed Meeting next week. "Bringin' on the heartache, Can't you see?, Can't you see?" Bringin' on the Heartbreak? Def Leppard. SVB Failure and Rates It's important to remember that bonds enjoy bad news,...
This is from one of lenders I work with, Chris Maxwell from Bank of Albuquerque. You can reach him at: 505-804-3191/cmaxwell@bankofalbuquerque.com National Real Estate News Bottoming out Existing home sales for January 2023 fell (a very modest) 0.7% MoM to an annualized pace of 4,000,000 units. That was the 12th straight month of decline. But look at the chart: it's bottoming. Existing home...