Waiting one year for that (*hypothetical) rate drop could result in missing out on valuable equity gained with appreciation over the next year (even at a very conservative appreciation rate!). Take a closer look at how much you’re missing out on by waiting to buy, and contact me if you’re ready to capitalize on the expected appreciation! #homebuying #getpreapproved #expertanswers Continue Reading
Myths About Today’s Housing Market
Some Highlights If you’re planning to buy or sell a home today, it’s important to be aware of common misconceptions. Whether it’s timing your purchase as a buyer based on home prices and mortgage rates or knowing what to upgrade or repair before listing your house as a seller, it takes a professional to guide you through Continue Reading
Real Estate News: A Look at the Economy
In a recent blog post, New Penn Financial explains how the recent GDP estimates from the Fed relates to the housing market, ultimately making the bold claim, “The Fed is saying they want more interest rate increases. Right now, we don’t believe them.” Read the full article here. Continue Reading
Mortgage Rates Make A Jump Higher!
Mortgage rates were on the rise last week, with fixed-rates making the biggest one-week leap so far this year, Freddie Mac reports in its weekly mortgage market survey. Fixed-rate mortgages are now at the highest level since the week ending May 1. More in Mortgage News: Emerging From the Shadows What’s Necessary to Bring Back First-Time Buyers... Get a Discount on Your Continue Reading
Mortgage Rates Reverse Course
Following two weeks of increases, average fixed-rate mortgages inched down this week, providing buyers some relief heading into the spring home-buying season, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac recorded the following national averages for the week ending April 10: 30-year fixed-rate mortgages: averaged 4.34 percent, with an average 0.7 point, dropping from Continue Reading
Interest rate hikes slowing housing market
Sales of existing single-family homes slipped by 18 percent during the fourth quarter and by 16.6 percent in January year over year, according to the latest research by Fletcher Wilcox, vice president of business development for Grand Canyon Title Agency Inc. Rising interest rates are one big reason for this, Wilcox said. Interest rates hovered below 4 percent for 19 consecutive months starting Continue Reading
Check out these January ARMLS Stats
As members of the Multiple Listing Service, we are privy to some great local statistics each month and I thought I would share this month's data as it gives a year in review perspective. COMMENTARY by Tom Ruff of The Information Market 2013: Year in Review The end of the year only comes once. That's why we can't pass up the opportunity to focus on how the market fared in 2013. Below you Continue Reading
Rates Hold Steady
Fed Holds Rate Steady as Inflation Worries Rise Wall Street Journal (06/26/08) P. A1; Reddy, Sudeep The Federal Reserve on June 25 ended its aggressive campaign of interest rate cuts, holding its target for the federal-funds rate-charged on overnight loans between banks-at 2 percent. The decision to stand pat contrasts with recent actions by numerous central banks overseas that have begun Continue Reading
"Once upon a time…"
Once upon a time (2005) in a peaceful sunny land not too far away (Arizona), Builders came and built homes. Then the Builders got greedy. All of them decided to increase prices. The people of Phoenix became afraid that there would be no homes left for their families, so they bought. Would-be investors traveled to Arizona to buy rental property because they had read it would be a good thing. Continue Reading
Market Update
The numbers are in for February in the Phoenix metro area and there are some bright spots! While the number of homes sold continues to decline, the historical data shows this is not that unusual. The months supply of inventory is declining, a positive sign in this volatile market. We have been on a decline for 3 months in a row, from 18 months in December '07 to 10 months in February '08. This is Continue Reading
