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!