Daily Real Estate News | Friday, September 28, 2012
Mortgage rates were back to breaking records for the second consecutive week. All mortgage products, except for the 5-year adjustable-rate mortgage, averaged a new record low, Freddie Mac reports in its weekly mortgage market survey.
For those who can qualify, the low rates are helping to keep home buyer affordability high and refinancing strong, Freddie Mac reports.
"Fixed mortgage rates continued to decline this week, largely due to the Federal Reserve's purchases of mortgage securities, and should support an already improving housing market,” says Frank Nothaft, Freddie Mac’s chief economist.
The Fed recently announced it would purchase $40 billion in mortgage-backed
You will never have to spend hours on a real estate contract again just to get turned down!
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Do you need support or advice during this exciting and stressful time? Just call or email us any time.
Once you've made an offer on a home and all contingencies have been met by both parties, closing on the property becomes final. Closing costs are generally 4% of your loan amount, but this can vary. To help you get a sense of what's left to be done, here are 10 steps involved in closing the deal:
Draw up a purchase offer with detailed contingencies in place
Submit your deposit, also known as "earnest money"
Seller accepts the deal or counteroffers with contingencies and price changes of their own
Here’s some great news on the Real Estate “home” front. (No pun intended).
According to several reports, there is a real housing recovery taking place, which has positive implications for the broader economy, not to mention positive implications for you, the homeowner. Previously occupied homes have seen a jump in sales, and when that is added to the gains in home construction, it suggests the U.S. housing recovery is finally gaining momentum. These signs of steady progress in the housing market are definitely a confident sign after years of stagnation.
With new home sales increasing, builder confidence has reached its highest level in more than six years. That, coupled with increases in home prices, appears to be a substantial positive for
We summarize three key housing market indicators: construction starts (Census), existing-home sales (NAR) and the delinquency-plus-foreclosure rate (LPS First Look). For each indicator, we compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.
In August 2012, construction starts held their new high plateau, while home sales rose and the delinquency + foreclosure rate fell:
Construction starts held roughly steady. Starts in August were at a 750,000 annualized rate, up 2.3% month over month and up 29.1% year over year. Construction activity in August was at its second-highest level since October 2008. Nationally, construction starts are 27% of the way back to normal.
Here is the current Market Snapshot for Sammamish, WA 98075.
Over the last 90 Days the Average Days on Market to sell a home have been 100 Days. Selling price compared to Asking price has been -2%. The average home has sold for $650,000 and inventory over this time has dropped by 50%.
If you would like to create a Free Market Snapshot for your zip code simply click the link below. You can also choose to see an even closer view and put in your home address as a Seller and see the trends within 2 miles of your home.
The "School Info" tab at the top of the page also allows your to see and compare local schools side by side. You can even compare Public and Private schools and see information such as: Student Teacher Ratio, Test Scores, and more.
Last week, we saw a lot of action in the volatile financial markets duein large part to the Fed’s announcement of another round of bond buying (known as Quantitative Easing or QE3). Here's what you need to know and what happened to home loan rates.
Table source: Mortgage Success Source
Quantitative Easing is the concept of the Fed becoming a buyer of treasuries and bonds aimed at stimulating the economy. The Fed announced QE3 because our economy is still struggling (especially our housing and labor markets) and inflation has appeared tame.
Evidence that our economy is still struggling was especially noticeable in the manufacturing sector last week. The New York State
We are very happy to welcome Erin Keeley to The Cascade Team! Erin will be focusing on the Maple Valley area. Her energy and enthusiasm are sure to bring quick success!
Cell Phone: 425-445-6117
I am proud to be able to bring The Cascade Team's successful progressive approach and “Simply Outrageous Service” to my Maple Valley neighbors and clients. Earning lifelong relationships with my clients by surpassing all of their expectations and providing superior, customized service is my passion. My objective is to be your trusted friend in real estate, delivering the results you deserve. With over 12 years of success in marketing, service, and sales, I am able to bring fresh insight to my clients.
We are a Sammamish premier agent for Zillow & Trulia Pro and serve clients throughout the Eastside.
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Daily Real Estate News | Thursday, September 20, 2012
A high number of home buyers are still walking away from their contracts, even as the housing market picks up and sales are on a rise, new data from Capital Economics shows. Nearly 18 percent of signed contracts on existing home sales were canceled from May through July.
What’s more, 36 percent of real estate professionals say they’ve experienced a problem with a contract, whether that be a delay, negotiations on the sales term, or a
U.S. home prices continued to increase in July, according to Case Shiller with its 20-city index up 1.6 percent from June and the 10-city index up 1.5 percent.
The 10- city index rose to its highest level since November 2010 and the 20-city index to the highest level since October 2010. Price rose month-month in all of the 20 cities.
Year-year, the 10-city index was up 0.6 percent and the 20-city index rose 1.2 percent. Economists surveyed by Bloomberg had expected the 20 city index to increase 1.7 percent from June and 1.2 percent from July 2011.
Prices had increased in all 20 cities in May and June. If prices had risen in Detroit in April, this month’s report would have been the fourth consecutive month in which prices rose in all 20 cities.
Bedrooms: 4 Bathrooms: 3 Home Size: 2,746 sq.ft. Garage: 2 Lot Size: 7,500 sq.ft. County: San Diego Property Type: Single Family Home Year Built: 1994 MLS Number: 120048152
4 br, 3 bath. Features an open floor plan, dual master bedrooms, and a large enclosed private and secure backyard. Recently installed 6 foot privacy fence and second story deck invite outdoor living. There's RV parking& access, room for a boat and trailer. Home is minutes from freeway and close to local schools. Inside/outside freshly painted and hardwood laminate flooring throughout. Storage and recent upgrades that included central air. Home remodeled in 1994.