Thursday, November 19, 2015

Should I Pay a Mortgage Interest Rate over 4%?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.

 This has caused some purchasers to lament the fact they may no longer be able to get a rate less than 4%. However, we must realize that current rates are still at historic lows.

LINK HERE

6 Reasons Why a Housing Crash Isn’t Likely

The U.S. is nearing the 10-year anniversary of the 2006-2007 housing bubble. Should Americans be worried that history could repeat itself? After all, home prices have risen above the bubble era.

 Housing experts say there are many reasons why Americans shouldn’t be concerned about a housing crisis repeat anytime soon, including:

LINK HERE

October home prices drop slightly, east and south up

San Diego County home prices dipped in October from the previous month, but buyers priced out of central San Diego pushed up values in eastern and southern regions of the county, said real estate data firm Corelogic.

LINK HERE

Wednesday, November 18, 2015

More Sales But Conditions Stay Tough for First-Time Buyers

Home sales are expected to increase to 5.5 million units from 5.3 million next year as job creation and other economic fundamentals remain strong, but longer-term prospects for home ownership face head winds if younger households continue to find it difficult to buy.

LINK HERE

Housing Has ‘Best Quarter in Nearly a Decade’

Home prices are showing signs of slowing to a healthier pace, according to the National Association of REALTORS®’ latest quarterly housing report.

In fact, Lawrence Yun, NAR’s chief economist, says there’s no question the housing market in the third quarter had its best quarter in nearly a decade.

LINK HERE

Mortgage Rates are Inching Up

The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve and a recent strong jobs report.

LINK HERE

360° Cameras: Listing Photo Game Changer?

Savvy pros and clueless Craigslist FSBOs alike know that photos help sell real estate: Good listings are packed with photos of every room from every angle, and skeptical buyers may wonder what a seller's hiding if anything's missing from the photo stream. But a new technology that captures panoramic photos of entire rooms with a single press of the shutter promises to give online buyers all the visuals they need with a lot less clutter.

LINK HERE

Monthly Foreclosure Jump Highest in 4 Years

Foreclosure activity in October posted its largest month-over-month increase since August 2011, according to RealtyTrac’s latest Foreclosure Market Report. Foreclosure filings – including default notices, scheduled auctions, and bank repossessions, rose 6 percent in October month-over-month, led by a 12 percent monthly jump in foreclosure starts.

LINK HERE

The Best Times to Post on Social Media

Whether teasing up your recent blog post or reaching out to prospects or past clients, your social media outreach should be pegged to the time others are most likely to see it. TruConversion, a company behind a soon-to-debut app to help businesses optimize and track their social media results, recently shared with Forbes some insights into its research on social media posting.

LINK HERE

Loan Demand Softens on Sharp Jump in Rates

Mortgage rates climbed higher last week, which caused mortgage application volume to drop slightly by 1.3 percent on a seasonally adjusted basis last week compared to the previous week, the Mortgage Bankers Association reports. The 30-year fixed-rate mortgage rose to 4.12 percent – its highest level since August, the MBA says.

LINK HERE

Solo Sales: FSBOs’ Costly Mistake

Forty-eight percent of home owners who sell their home without a real estate agent believe that if they sell themselves they’ll have to just do a little extra work and then be able to save on having to pay a commission or closing fee. But research shows that for-sale-by-owners actually end up having to spend a lot more time than they ever imagined and tend to end up with a final selling price that is lower than comparable listings that were sold by an agent, according to research by the National Association of REALTORS®.

LINK HERE

Why Buyers Need to Buy That New Home Now

Your client has decided on new-home construction, but they're dragging their feet. Need to give them extra motivation to get that contract signed this fall or winter?

“Fall and winter are a great time to start working with a builder and do much of the upfront planning and legwork that goes into a new-construction home,” says Brian Brunhofer, president of Meritus Homes. “Plus, there are some definite advantages to beginning that process before the end of the year that buyers might not be aware of.”

LINK HERE

Housing market to grow slowly in 2016, economist says

One of the nation’s top real estate economists said Friday that U.S. home sales will barely rise next year. 

Lawrence Yun, chief economist for the National Association of Realtors, predicted at the organization’s annual conference that 5.4 million homes will be sold in 2016, up slightly from 5.3 million this year.

LINK HERE

Monday, November 9, 2015

Year end can yield new home bargain

Over the years, I’ve helped more than 1,000 homebuyers successfully buy a new home here is San Diego. 

 My experiences gave me several insights into what smart home shoppers do. I’ve seen boom and bust cycles in our market and watched savvy buyers turn the new home process to their favor. As an insider, here’s a little secret about buying a new-construction home: Buy a new home before the end of the year. 

LINK HERE