Wednesday, July 25, 2012

Weekly Rate and Real Estate Update, 7.25.12

It's hot out there and it’s not just the temperature!

Dan’s activity this week:

There is never a dull moment in real estate.  Of the two closings I had scheduled for last Friday, the one I thought wouldn’t happen did and the one I thought would happen didn’t!  So after another delay, we did close yesterday…8 days late…but it closed.

We are finishing up negotiations on the inspection response from last week.  Hopefully the sellers will see the work that needs to be done. Again, my August closing is on track.  My clients reoffered on the Short Sale last week and no word back yet from the bank of course.  Hopefully we’ll hear something by Friday and it will be good news. 

I’m also selling 6 potential rental properties for an investor client of mine in Indianapolis.  Four of them are Active now and two will be up shortly.  If you ever wanted to get into the landlord business, give me a call!

I’m sure you’ve seen our personal renovation updates on the blog and if you haven’t you need to.  See that post HERE!  To summarize, true to renovation history, there are daily issues to deal with that you can’t plan out but only deal with as they arise.  We are starting to move things in slowly with the bulk of the moving this Friday and Saturday.  Our family is ready to be settled and to be home!

Rates for the week

From the IBJ... The average rate for 30-year mortgages fell from 3.79 percent to 3.78 percent for the week ended July 18, according to The rate for 15-year mortgages fell from 3.05 percent to 3.04 percent.

Wednesday, July 18, 2012

Weekly Rate and Real Estate Update, 7.18.12

Back to it!

Dan’s activity this week:
Busy week.  Two closings, one inspection, one offer in process, two lease clients and a buyer who is ready to downsize their home of 30+ years!

So due to the late, low appraisal, the buyer’s bank for my Monday closing had to push back the closing first to Tuesday, then Wednesday and finally its set for 3pm on Friday!  Then at 4, another closing for my clients selling their home, thankfully both closings are in our Fishers office so I don’t even have to leave my seat!

The inspection for my buyer clients that occurred on Monday turned up a few items that we are hoping the elderly sellers will be willing to address.  The initial negotiations where lengthy, in part due to their children’s involvement, who are rightfully helping their parents, however, its just drags out the process…too many chiefs!

My August closing is still on track, just waiting to hear back on the appraisal...say a prayer!  With those clients we’ve also put an offer on a short sale, which is living up to all its “short sale” glory.  Bank rejected 1st offer, seller’s want to stay longer (who wouldn’t want to live for free!), etc, etc.  Hopefully it will all work out and my clients will get a very nice home at a great price!

Last, the renovation on our personal home.  My wife will be posting an update soon but I think we had around 20 workers in the home yesterday!  The progress is amazing and we are planning on starting the move in process this Saturday…less than 3 weeks after closing!  Mindy sure knows how to run an efficient renovation and job site.

So until next week, let’s hope it rains and please take advantage of those low mortgage rates…refinance or buy a home and enjoy the rates for the long haul!

Rates for the week
From the IBJ... The average rate for 30-year mortgages fell from 3.87 percent to 3.79 percent for the week ended July 11, according to The rate for 15-year mortgages fell from 3.13 percent to 3.05 percent.

Wednesday, July 11, 2012

Weekly Rate and Real Estate Update, 7.11.12

The highs and lows...

Dan’s activity this week:
Ah, the heat!  Last week we closed on our personal home and the renovation is in full swing.  We can’t wait to move in and are anticipating the end of next week as “completed” enough to live in.

My buyer’s deals are active, submitting an offer this morning in fact.  My seller’s are a mixed bag, one appraisal yet to happen this week, one got confirmation that the appraisal was good and one sale that did not appraise at the contract price…boo!  So the closing for Monday is in jeopardy but next Friday’s close is on schedule as long as the buyer’s mortgage company performs.  Another closing set for late August (yes August) is on track as well.

One inspection response done, one in negotiations and one home had an inspection today!  As soon as we wrap up these inspections the appraisals won’t be far behind!

Oh yeah, and rates are still at historic lows, blah,blah, blah…someday this line will change but until then please enjoy all the refinancing and purchasing you can!

Rates for the week
From the IBJ... The average rate for 30-year mortgages fell from 3.89 percent to 3.87 percent for the week ended July 4, according to The rate for 15-year mortgages fell from 3.16 percent to 3.13 percent.