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Our Weekly Mortgage Market Commentary

This week brings us the release of four economic reports that have the potential to influence mortgage rates. All of the week’s relevant events will take place the middle and latter days, with nothing of importance set for Monday or Tuesday. Three of the reports are considered to be of elevated importance to the bond market and therefore mortgage rates. This raises the possibility of seeing noticeable movement in rates multiple days this week. Before we get to the week’s economic reports, we have to deal with a couple of Treasury auctions. The Treasury will hold a 10-year Note sale...

May 7th, 2017 Our Weekly Mortgage Market Commentary

Problem for Home Sellers: The Curse Of The First Offer

Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away. The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer, and who then waited a long, long time before finally accepting something else at a considerably lower price. And most agents who have been around for a while know to shudder when a good strong offer is made almost at the outset of a listing; for the seller’s reservatio...

May 4th, 2017 Problem for Home Sellers: The Curse Of The First Offer

Get Your Outdoor Living Area Ready for Summer

As with the inside of your home, outdoor living areas need attention and care to keep them looking their best. While you may not need to dust or vacuum your deck and furniture, there are a few maintenance chores that will get the warm-weather living off to a good start. Preparing Your Deck Before you bring out your furniture, give the deck a good sweeping. Make sure you remove leaves and other debris from between the deck boards. Then, take a few minutes to inspect the deck. Make sure the deck components are structurally sound. Railings should be firm and not wobbly. There should not be any gi...

May 3rd, 2017 Get Your Outdoor Living Area Ready for Summer

Buy Now, Sell Later - How Contingency Offers Work

There it is - the dream house. There they are - the dream buyers. And there it is - the catch. The buyers haven't sold their current house and can't make the dream come true for everyone. If you're the buyer, you have an option that can let you put in a bid before you've sold: a contingency offer. If you're the seller and receive a contingency offer, you have a decision to make. But wait - what is a contingency offer? Simply put, you, the buyer, are saying that your offer on the new home is contingent upon the sale of the existing because you need the money from number one to get to closing on...

May 2nd, 2017 Buy Now, Sell Later - How Contingency Offers Work

Our Weekly Mortgage Market Commentary

This week brings us the release of six pieces of economic data that are likely to influence mortgage rates in addition to an FOMC meeting. While that's a fairly large number of reports, it is the fact that two of them are extremely important and can heavily impact mortgage rates that make the week so interesting. The number of reports and the importance of some of them leads me to believe it is going to be a very active week for the financial and mortgage markets. The week’s calendar begins Monday with two important pieces of economic data. The first is March’s Personal Income and ...

May 1st, 2017 Our Weekly Mortgage Market Commentary

How Does Your Home Compare to Others on the Market?

Real estate agents use comparable sales or “comps” (properties recently sold in the area) to see what the market bears for a listing price or value range marketing. But what makes a home a good comp? A few things must line up in order for the agent to utilize the comp to justify your listing price. The same neighborhood, school district, similar street and, of course, similar housing features and size. If these things align, then a comp can be used to provide a current estimated value of your home. Ideally, using a comp from a home that is the same model in the same subdivision is ...

April 27th, 2017 How Does Your Home Compare to Others on the Market?

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