Wednesday, May 8, 2013

Weekly Rate and Real Estate Update, 5.8.13

Rates and Home Inventory are low, low…

Dan’s activity this week:

So the closing that was supposed to close last Tuesday that had the “shadow” on the wall did close on Friday!  We cut a 2’x2’ square out of the eating area and the “shadow” was indeed stains from cat urine.  While I’m glad it wasn't mold…I do not want to meet the cat(s) that made that mess…let’s just say the smell was ripe.

The recent listing that sold in 8 days hit a road block…low appraisal.  So we are working our way through that process.  I’m not sure if the deal can be saved but we shall see.

With the move of the previously mentioned closing I had two closings on Friday.  In fact I had to leave one early to make it to the next.  It all worked out though and those two clients love their new homes.

The inspection of the home my client is buying that was living with their parents turned up a chimney that needs work and a roof that is at the end of its life.  So we have contractors out giving estimates on the repairs.  Hopefully the seller’s will adjust the price or give money back at closing to address these bigger ticket items.  We are to close in a week so we are getting close!

I had a new listing come on the market yesterday…a town home in West Carmel.  There is only one other property for sale in that development so I hope this one sells quickly.  With the home now on the market, my clients and I went out last night to look at potential homes to buy.  We really didn't find “the” home but they were able to see what’s available to them…they might want to bump up their budget they said.

The clients building new construction are ready to move forward.  We are trying to set up a time early next week to sign the listing paperwork and get their home on the market in the next two weeks.

Last week, as I’m coaching my son’s 7v7 Spring football team, one of my former clients and parents of one of my players says they have friends who are considering selling.  “How’s the inventory out there” he asks…”very low” I say.  I’m meeting with that lead next week and they are already working with my mortgage provider!

Broken record alert…I’m very honored with all the activity and am ready for more so if you know anyone getting ready to buy or sell, please give them my information or ask if they’d like me to call them.

   Rates for the week
From the IBJ... The average rate for 30-year mortgages fell from 3.57 percent to 3.52 percent for the week ended May 1, according to The rate for 15-year mortgages fell from 2.80 percent to 2.75 percent.

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