Do you dream of a rambling ranch home? Perhaps the two-story place you grew up in is serving as inspiration for your home search. There are some homebuyers who insist they want a one-story home and those who wouldn’t dream of buying something without stairs.
Posted On Sunday, 19 May 2024 02:00 Written by
I am a big believer in business planning and success scheduling. My entire coaching philosophy is rooted in these two prime building blocks. While your annual business plan can create a structure and vision for the entire year, I like to work in three mini-90-day plans that help allow for local market trends and aspects of business that is also based on seasonal awareness. The first 90-day plan runs from about the third week of January through the April 15th tax filing deadline. The second 90-day plan runs from your local calendar from about two weeks before the schools let out for the year in your area, until about three weeks after they return back to school. This really depends on your local area because these times really deviate significantly around the country. Some kids get out in May and return early August; while others get out in late June and…
Posted On Monday, 20 May 2024 00:00 Written by
For a limited time only, Chase is increasing their Closing Guarantee program from $5K to $20K. Chase promises their clients that they’ll close the loan on or before the contract closing date or pay the buyer $20,000.  The grant can be used to discount underwriting fees paid at mortgage closing or pay down interest rate and down payment. This special time offer is available until July 27, 2024.  Chase wanted to honor spring homebuying season in an extra special way this year, knowing how challenging the housing market has been. They also have a whole en-suite of offerings and tools to help prospective homeowners.  The housing affordability crisis—with high interest rates, high homes prices, and low supply—has been widely reported. To help homebuyers address these challenges, Chase Home Lending is focused on providing financial resources and homebuyer education, including increasing its Closing Guarantee from $5,000 to $20,000.   “Current market…
Posted On Sunday, 19 May 2024 04:25 Written by
--  Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.02 percent. “Mortgage rates decreased for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates. The decrease in rates, albeit small, may provide a bit more wiggle room in the budgets of prospective homebuyers.” News Facts The 30-year FRM averaged 7.02 percent as of May 16, 2024, down from last week when it averaged 7.09 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent. The 15-year FRM averaged 6.28 percent, down from last week when it averaged 6.38 percent. A year ago at this time, the 15-year FRM averaged 5.75 percent. The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for…
Posted On Friday, 17 May 2024 06:49 Written by
Did you hear the one about the Mom who sent “LOL” regarding the passing of a loved one? In this case it was the older generation innocently texting & trying, thinking LOL stood for, “Lots of Love”, not the “Laughing Out Loud” that has become today’s version of the abbreviation. Texting & Trying is Drinking & Driving for old people: Generational Confusion.  This proves there is comedy in tragedy, as well as hilarity in definitions and communication. Sending LOL to someone regarding a death seems ridiculous, and yet, we need our sense of humor even when things are actually sad. Most funerals I have attended are pretty somber, although people do their best to put forth a smile.  Sometimes it’s accidental! When my wife’s grandma passed away in 2001 the family decided to hold the viewing in her living room. I was a newlywed and wondered if this was some kind of ruse…
Posted On Friday, 17 May 2024 00:00 Written by
Pending home sales are down and new listings are flat during a time of year when they typically rise. But this week’s softer-than-expected inflation report sent mortgage rates down, which could bring back some homebuyers and sellers. rates down, which could bring back some homebuyers and sellers. SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) —Pending home sales fell 4.3% from a year earlier during the four weeks ending May 12, the biggest decline in roughly three months. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Pending home sales also posted a week-over-week decline, unusual for early May. Inventory is losing momentum, too, as would-be sellers stay put to hang onto their low mortgage rate. New listings rose 10% year over year, but they were essentially flat from a week earlier, which is significant because listings typically increase this time of year. The housing market slumped because of…
Posted On Thursday, 16 May 2024 05:41 Written by
Bring it Home® Communities accelerated its national rollout with the introduction of a patent-pending mobile application for real estate brokers and agents. Called "Before They List®," this innovative app facilitates the collection of specific property information. It gauges interest in a given homeowner's property from other practitioners within an office and evaluates market viability. Practitioners may then report findings to the prospective homeowner, providing an efficient means of potentially generating a listing agreement. "Inventory levels are at an all-time low, and we aim to provide the latest technology to assist with new listing procurement," explains John Giaimo, President and CEO of Bring it Home® Communities. "Obtaining feedback benefits homeowners who are still deciding and helps ensure an informed choice," adds Giaimo. A recent homeowner survey found that 76% are considering placing their home on the market but are hesitant to do so. When asked, "What would motivate them to sell?"…
Posted On Thursday, 16 May 2024 03:27 Written by
Despite low buyer demand, home prices remain steep throughout the U.S. Owing to this, many homeowners have seen the amount of equity they’ve built into their houses increase. When a homeowner utilizes the LendingTree marketplace to shop around for a home equity loan lender, they select one of five reasons for why they’re seeking the money. By analyzing borrowers’ home equity loan requests in the first quarter of 2024, we determined why homeowners across the 50 states are thinking about tapping into their home equity. Here's what we found. Across the 50 states, 40.58% of those seeking a home equity loan cited paying for home improvements as their primary reason. 33.78% of homeowners considered tapping their home’s equity to help consolidate debt. This was the second most commonly cited reason among LendingTree users. However, in some states like Wyoming, Idaho and South Dakota, it was the most commonly cited.  Using a…
Posted On Wednesday, 15 May 2024 07:01 Written by
The median down payment in the U.S. last quarter was $26,000, an average of 13.6% down, according to a new down payment trends report from Realtor.com, published this morning.  The analysis of down payment trends at the national, state and top-100 metro levels found that while down payments fell from the all-time-high in Q3 2023, down payments climbed annually – up 3 percentage points and roughly $12,000 from Q1 2023 – as homeshoppers contended with higher mortgage rates and home prices and a restricted home supply. Despite the drop from the historical peak, down payments remain well above pre-pandemic levels –  larger percent down on today’s typically higher priced homes means buyers paid 87.8% more as a down payment in Q1 2024 ($26,400) compared to Q1 2020 ($14,000).  Here are the key takeaways:  In Q1 2024, down payments reached an average 13.6% down, or $26,000, the highest first quarter average…
Posted On Tuesday, 14 May 2024 06:21 Written by
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