Wednesday, October 30, 2019 / by Juli Jenkins
Consumer sentiment in housing did improve in August, according to a monthly survey from Fannie Mae, but only because of a big jump in the share of those who think mortgage rates will keep falling.
Fewer people think now is a good time to buy or sell a home, and fewer said they are not concerned about losing their job in the next year.
“I definitely think it has softened a bit,” said Kelley McMahon a Dallas-area agent with Compass. “It’s not a seller’s market right now. Now is not the time for sellers to put out these crazy prices. Appraisals have gotten a lot harder, and buyers are a little more cautious. They’re more willing to take their time.”
Mortgage rates are around the lowest in three years, but buyers are suddenly much more cautious about purchasing a home. Competition is cooling, and consequently sellers can no longer command any price.
Consumer sentiment in housing did improve in August, according to a mont ...
Thursday, December 20, 2018 / by Juli Jenkins
1. Borrowing Becomes More Expensive
The Fed's key policy rate only applies to overnight lending between banks out of their reserves held at the Fed. In other words, it doesn't affect consumer or (non-bank) business borrowing directly, but the distinction is academic, because it is so closely linked to rates that do affect these borrowers directly.
Home loans are tied directly to Treasury Yields. If the Treasury shoots up then expect higher interest rates on Mortgages.
2. Deposits Yield More … Eventually
Higher borrowing costs also apply to banks, which take loans from savers in the forms of deposits. In other words, the savings account that currently pays out a few bucks a year – if that – will become more generous.
3. Trouble for Stocks and Bonds
Fed tightening to rising 10-year Treasury yields, which he said could reach the psychologically important level of 3% in the next year. A sell-off in government debt could accelerate the bear m ...
Monday, November 19, 2018 / by Juli Jenkins
1. Waiting a few months to buy may result in waiting a few years to own.
We all wish we had that crystal ball to glance into and see when the interest rates were going to increase so waiting it out could cost you some buying power. Like we have been told for year there is NO time like the present.
2. Concentrate on resale homes or quick move-in construction.
New construction inventory is at an all time high in the area since the bubble burst. Now is the time to take advantage of the available homes and the great incentives being offered.
3. Sellers who wait to list might wait to sell.
We all know the winter time is not the best time to be listing a home but if you have a request to show the buyers tend to be serious and ready to pull the trigger.
4. Buying down an interest rate might be a good idea.
Personally I believe this is going to be #1 in 2019. I have started to see this as an option to move some of the new construction homes. Trust me they do NOT want to ca ...
Tuesday, October 30, 2018 / by Julie Jones
December is known to be a slow month in home sales, but the top real estate agents don't let that affect their productivity. As winter approaches and Homebuyers put their house hunting on hold for the season, real estate agents may see their leads slow down, but that doesn't mean they should sit back and wait for spring to set the real estate market back on track. There is always plenty to do, and the individuals who plan best during the slow season may the ones who benefit most come spring. It can be helpful to see slow winter days as opportunities rather than setbacks. With a little extra effort and real estate marketing knowledge, realtor agents can set up leads for now as well as later, when the temperature begins to rise and Homebuyers hit the market again.
1. Stay up-to-date on local market activity
A slowdown doesn't mean a complete stoppage - there may still be homes on the market. Preview homes that are still listed to show people that you're paying attention and to k ...