Weekly Rate and Real Estate Update, 8.29.12

Rates up some more…

Dan’s activity this week:

The inspection on the foreclosure was so smooth its inspection report was nothing compared to most normal home sales!  On to appraisal and maybe we can move up closing a few days or a week…my clients would sure love that.

Still no updates on my clients offer on the short sale.  Tomorrow we close on their home and they have to be out of the home by Sunday.  The test of how long a grown man and his family can live at his in-laws is about to begin!   

I received a call out of the blue for a new listing in Carmel.  The clients are currently listed and are not happy with the method or communication of their current Realtor…I know I can help and sell the home as well.  This lead came from a past client of mine and I love those referrals so keep them coming!

The conference I attended really had a lot of great ideas and reminders.  So there are big things brewing over at DM Irish Real Estate…can’t let the cat out of the bag yet but soon enough, soon enough…

If you haven’t seen it yet or want to see it again…our renovation project is updated so click HERE to see the latest!

 Rates for the week

The average rate for 30-year mortgages rose from 3.86 percent to 3.91 percent in the week ended Aug. 22, according to Bankrate.com. The rate for 15-year mortgages rose from 3.05 percent to 3.12 percent.

Contact me here for moreinformation and to start your home sale or purchase process!

Weekly Rate and Real Estate Update, 8.22.12

Rates bump up a bit…

Dan’s activity this week:

Success!  There is one less homeless family in Hamilton County.  The foreclosure offer was finally accepted and we are heading to closing in September.  So happy for this family to have found a home they love and that will be a great investment for them.

Meanwhile, the short sale is…well…acting like a short sale.  While my other clients won’t be homeless, these clients will be homeless as of next week’s closing.  They know they may have to wait and go through some struggles but in the end, again, they are going to end up in a great position with their home, buying it well below its fair market value. 

Even with the rates historically low, they did bump up a bit as seen below.  One of my daily newsletters has a fairly detailed article on their reasoning for the recent increase.

http://lowes.inman.com/newsletter/2012/08/21/news/198993

Finally, we attended the conference last week and came away with a renewed focus on how to run a well oiled machine.  It’s boils down to the basics, doing them well and doing them consistently.  So any spare time is now being used to get everything ship-shape!

We’ll be posting updates to our renovation project soon so click HERE to see the latest!

 

Rates for the week

The average rate for 30-year mortgages rose from 3.81 percent to 3.86 percent in the week ended Aug. 15, according to Bankrate.com. The rate for 15-year mortgages rose from 3 percent to 3.05 percent.

Contact me here for more information and to start your home sale or purchase process!

Weekly Rate and Real Estate Update, 8.15.12

First day of school for many around our area!

Dan’s activity this week:

So we submitted an offer yesterday afternoon on a foreclosure and already received a counter!  Super fast and we like it. 

My clients with the other offer on the short sale are still waiting to hear back from the bank.  This is the lovely time in the short sale process when updates and information are slow or nonexistent.  It’s so frustrating for buyers to be in that position but the long term payoff is worth the angst and waiting in the short term.

Rates are still great and people are still buying and selling homes well into the start of the school year so if you are considering a housing change, give me a call to see what your home is worth or what homes on the market are worth it!

I’m meeting with our neighborhood publisher who puts out a very nice, glossy magazine.  He features new homeowners and business owners who live in the neighborhood so we get to “double dip”.  Also on Friday, I’m attending a seminar held by my mortgage broker.  The speaker is a REALTOR® who runs a very productive business…I am really looking forward to the time to work on my biz!

We’ll be posting updates to our renovation project soon so click HERE to see the latest!

Rates for the week

The average rate for 30-year mortgages rose from 3.77 percent to 3.81 percent in the week ended Aug. 8, according to Bankrate.com. The rate for 15-year mortgages rose from 2.99 percent to 3 percent.

Contact me here for more information and to start your home sale or purchase process!

Weekly Rate and Real Estate Update, 8.1.12

Welcome August…school is around the corner and rates are rock bottom!

Dan’s activity this week:

Can’t believe its August already, the summer sure flew by.  Well, the inspection negotiations from last week did not go well.  Let’s just say that client and I were out looking at homes last night.  Good news is I think we found another one!

While we don’t have any word back yet, the Short Sale has moved farther along than it did with our first offer.  Now the bank is seeing if they’ll have enough to satisfy all the players who are owed money. 

We are moved in!  We still have subs in finishing up smaller projects and I have a long list to finish out as well.  Last Friday we did get one more “renovation surprise” as we call it.  For multiple reasons, thankfully it rained.  Had it not, we wouldn’t have discovered that the backyard grade and broken sump pump line was basically dumping water into the basement!  So, we ended up having to break up the back patio (which had settled and sheered the sump line off) and redo the grade of the back and side yards to run any water away from the foundation.  Good news is the basement is dry now; bad news is this event has accelerated our need to redo the deck/porch/patio area before we were ready.  All that and we love our new home!

 To see updates to the project click HERE!  

Rates for the week

From the IBJ... The average rate for 30-year mortgages fell from 3.78 percent to 3.75 percent in the week ended July 25, according to Bankrate.com. The rate for 15-year mortgages fell from 3.04 percent to 3.00 percent.

Contact me here for more information and to start your home sale or purchase process!

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 Bankrate.com. The rate for 15-year mortgages fell from 3.05 percent to 3.04 percent.

Contact me here for more information and to start your home sale or purchase process!

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 1^st 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 Bankrate.com. The rate for 15-year mortgages fell from 3.13 percent to 3.05 percent.

Contact me here for more information and to start your homesaleor purchase process!

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 Bankrate.com. The rate for 15-year mortgages fell from 3.16 percent to 3.13 percent.

Contact me here for more information and to start your homesale or purchase process!