13
Sep
By Adrian Willanger
Housing Market, ,

How Buying or Selling a Home Benefits Your Community

When you think about buying or selling a home, your focus is often on the personal benefits, finding the perfect place to live, or getting a good return on your investment. However, these transactions do more than just impact your life; they also have a positive effect on the entire community. Here’s how buying or selling a home can benefit your local area. 1. Boosting the Local Economy Real estate transactions are a significant driver of economic activity. When you buy or sell a home, a whole host of local businesses benefit, from real estate agents and home inspectors to…
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23
Feb
By Adrian Willanger
Real Estate, ,

Understanding Short Sales: What They Are and Why You Might Want One

In the world of real estate, the term "short sale" often surfaces in conversations, but its meaning and implications might not be immediately clear to everyone. As a real estate agent, it's important to not only understand what a short sale is but also to effectively communicate its potential benefits to your clients. Let's delve into the intricacies of short sales and explore why they might be advantageous for certain buyers. What is a Short Sale? A short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance. In essence, the proceeds from the sale…
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23
Oct
By Adrian Willanger
1 Comment
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – October 23, 2023

This week featured the usual retail sales report which shows consumer demand and as well as an indicator of the velocity of money, not only for consumers but business to business as well. An increase would show an increase in national and local increase in economic activity, which is important as we move into Q4 of the year; where the holiday season is expected to see an increase in consumer activity. Retail Sales Retail sales have exceeded expectations this month showing month-to-month increases across the board: Retail sales are up 0.7% from the previous month with an expected increase of…
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05
Sep
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – September 5, 2023

Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims.    Inflation Rates Are Similar in August Month-to-month, the inflation rate holds relatively steady at 3.18 percent. This is slightly up when compared to 2.97 percent last month; however, it is significantly lower than the rate of 8.52 percent last year. When compared to the long-term average, inflation is trending in the right direction, as the long-term average is 3.2 percent. Inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the…
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29
Jun
By Jim Hasek
Financial Reports, ,

S&P Case-Shiller Housing Market Indices: Short Supply of Homes for Sale Pushes Prices Up

April readings for S&P Case-Shiller’s Housing Market Indices showed gains in home prices throughout the U.S. Rising prices were caused by shortages of previously-owned homes for sale and increasing buyer demand as the average 30-year mortgage rate exceeded six percent.  The southeastern region lost its top spot on S&P Case-Shiller’s 20-City Home Price Index as Chicago, Illinois, Atlanta, Georgia, and Tampa, Florida held the top three year-over-year home price growth rates for April. Chicago, Illinois Breaks Southeast’s Lead on April Home Price Growth The top three cities with the highest home price growth rates as reported in April’s   S&P Case-Shiller’s…
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26
Aug
By Jim Hasek
Mortgage, ,

The Importance Of Pre-Approval During The Homebuying Process

If you want to buy a home in the near future, you are probably aware of just how competitive the housing market is. You need to put yourself in the best position possible to be successful by getting pre-approved for a home loan. This is a very important step, particularly when you compete against people making cash offers. Learn more about the importance of getting pre-approved below, and make sure your offer is taken seriously. A Pre-Approval Letter Shows You Are Serious The first reason why you need to get a pre-approval letter is that it will show any potential…
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