Why Are Mortgage Interest Rates Increasing?

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed rate mortgage interest rate jumped up to 3.94% last week. Interest rates had been hovering around 3.5% since June, and many are wondering why there has been such a significant increase so quickly.

Why did rates go up?

Whenever there is a presidential election, there is uncertainty in the markets as to who will win. One way that this is noticeable is through the actions of investors. As we get closer to the first Tuesday of November, many investors pull their funds from the more volatile and less predictive stock market and instead, choose to invest in Treasury Bonds.

When this happens, the interest rate on Treasury Bonds does not have to be as high to…

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From Empty Nest to Full House… Multigenerational Families Are Back!

Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to a recent Pew Research Center report, the number of multigenerational homes dropped to as low as 12% in 1980 but has shot back up to 19%, roughly 60.6 millionpeople, as recently as 2014.

Multigenerational households typically occur when adult children (over the age of 25) either choose to, or need to, remain living in their parent’s home, and then have children of their own. These households also occur when grandparents join their adult children and grandchildren in their home.

According to the National Association of Realtors’ (NAR) 2016 Profile of Home Buyers and…

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A Lack of Listings Remains 'Huge' Challenge in the Market

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a great year for real estate.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. According to the National Association of Realtors (NAR), buyer traffic and demand continues to be the strongest it has been in years. The supply of homes for sale has not kept up with this demand and has driven prices up in many areas as buyers compete for their dream home.

Traditionally, the winter months create a…

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Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:

1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays. 

2. Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy.

3. You can restrict the showings on your home to the times you want it shown. You will remain in control.

4. Homes show better when decorated for the holidays. 

5. There is less…

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Buying is Now 37.7% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 17.4% less expensive in Honolulu (HI), all the way up to 53.2% less expensive in Miami & West Palm Beach (FL), and 37.7% nationwide!

Other interesting findings in the report include:

• Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
• Home prices would have to appreciate by a range of over 23% in Honolulu (HI), up to over 45% in Ventura County (CA), to reach the…

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Avery Ranch Market Update November 2016

We are seeing a slight shift in the Avery Ranch real estate market.

Sellers in Avery Ranch who maintain their home are still being rewarded with great sales prices. However, owners who have not prepared their home prior to coming on the market or who are not hiring an experienced listing agent are seeing a significant loss of market value.

The average days on market increased to 74 days, largely due to 4 homes that each took over 142 days to sell.

More telling is there were 10 homes that did not sell at all and were taken off the market. That is a significant number of homes for Avery Ranch.

In October we sold 2 homes in Avery Ranch that were previously listed with other agents. In both instances after we brought in a home stager to better…

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Wait For The Head Barber

My Dad always told me to wait for the head barber.

Growing up I thought this was strange advice because my Dad was bald.

Later on I realized what he meant.

He meant do business with the person in charge. The person who can say, “Yes.” The person who will stand behind the company.

One of the reasons we started our own company is we wanted to be in control of the company culture.

At my previous real estate office management encouraged agents to take a seminar where one agent laid on the floor while others shower them with money chanting, “I am a money magnet.”

There’s even a Youtube video of a woman stuffing money into her sweater at this seminar.

It seems like every day there’s another scandal where a large company like Wells…

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FREE Home Staging For Vacant Listings

Homes that are staged sell for more money than homes not staged.

We know buyers buy based on emotion and then use logic to justify their decisions.

If the floor plan of a home is confusing or if buyers can’t picture how they will live in your home they will cross it off their list.

That’s why we offer FREE home staging for our vacant listings.

Most sellers know their home should be staged but the cost of home staging can be too expensive. That’s why our company purchased furniture and staging items so we can offer that service free of charge to our clients.

This is a home recently sold. The owners tried to sell the home with another realtor but everyone hated the floor plan because they did not know how to utilize the long hall from the…

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