Wednesday, March 20, 2013

Weekly Rate and Real Estate Update, 3.20.13

Inventory down, rates bump up…

Dan’s activity this week:

Note to self…in the future, do not hold an open house on St. Patrick’s Day that is also NCAA Selection Sunday! 

I’ve been negotiating an offer for a client the last few days…I don’t think it will end in a sale, it looks like the buyers were just fishing for a steal…news flash…the market is changing!

I showed a bunch of homes (16) on Friday and Saturday to new clients.  One is moving back to Indy while the other is just moving back to their childhood city and bumping up to what I call the “high school” home.

The closing last Friday was uneventful, just the way I like them!  The big story here is how my mortgage professional picked up the ball after my client’s out of town bank dropped it.  The closing statement and funds where at the title company in 8 days and ready a full day before closing!  If you need this type of impossible to find service, let me know and I’ll get you connected.

Meet with some potential new clients about selling their home yesterday morning and I’ll looking forward to getting them on the market and sold!

Also going on is two inspection and inspection responses that my buyers are working through.  We could have an interesting outcome of one…the home is being sold by a relocation company and there are a number of bigger issues that need to be addressed.  So, we’ll see if they are going to fix them, reduce the price or just give my clients a big check at closing to make the repairs themselves.

The listing of mine that sold last week also had its home inspection which came back as one of the cleanest I’ve ever seen so that makes it easy…now to pass the appraisal.  We are a little concerned, happy to have maximized my clients sold price but selling on the high side of the development also pushes the limit of appraisers. 

So in a few hours I’ll be on my way to Austin Texas to the 2013 ERA International Business Conference!  This is ERA’s annual conference and it moves around the country each year.  I’m going to pick up a new certification, which I’ll tell you more about next week, and attend all the educational and business building classes I can…hopefully I’ll get to enjoy the 80 degree weather and the city of Austin a little bit as well.

        Rates for the week
From the IBJ... The average rate for 30-year mortgages rose to 3.85 percent from 3.73 percent for the week ended March 13, according to The rate for 15-year mortgages rose to 3.03 percent from 2.96 percent.

1 comment:

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