Wednesday, November 7, 2012

Weekly Rate and Real Estate Update, 11.7.12

The morning after…

Dan’s activity this week:

Now that the elections are over, how will this affect residential real estate?  Well, it looks like Health Care Reform will continue on so the 3.8% tax that goes into effect on 2013.  In reality its impact is limited and it won’t affect all too many of us.  However, what does this mean…click here to learn the Top 10 Things You Need To Know About the 3.8% TaxIf you’d like to see what the National Association of REALTORS® have been working on in 2012 check out this list.

From the two calls last week, I've got 4 new transactions!  Each client is looking to sell and buy a new home.  While the sale of their homes won’t be a windfall for them, the purchases they are looking for will be a great financial move for the future, great buys and low low rates.  The few thousand they thought they might get on the sale of their homes pale in comparison to the tens of thousands they stand to enjoy from the new purchase and cheaper financing!

Meanwhile, one listing received an offer that we are negotiating as we speak and another looks to get a second offer!  I expect that both offers work out well for my clients and come early December, each will be on to the next phase of their lives. 

Also a consultation I had a few weeks ago looks to be ready to list.  So next week looks to bring that activity and I’ll be gearing up for that soon.

Although us REALTORS® typically enter a slower sales season coming up, mine hasn't slowed yet and I hope it doesn't.  While working hard on Q4 of 2012, I’m prepping for Q1 of 2013 and am excited about what that will bring!

Rates for the week
From the IBJ... The average rate for 30-year mortgages fell to 3.57 percent from 3.61 percent in the week ended Oct. 31, according to The rate for 15-year mortgages fell from 2.90 percent to 2.89 percent.

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