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.

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