by hcwilliamsjr | May 30, 2023 | Uncategorized
With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable. Some people are waiting for rates to come down and while they...
by hcwilliamsjr | May 23, 2023 | Uncategorized
An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer. It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the...
by hcwilliamsjr | May 16, 2023 | Uncategorized
Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot. The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago....
by hcwilliamsjr | May 9, 2023 | Uncategorized
Builders of new homes offer or are required to warrant their work for a specified period. Municipal inspections are generally required during different stages to "ensure the life, health, safety, and welfare of the public" but even if something is missed,...
by hcwilliamsjr | May 2, 2023 | Uncategorized
Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up....
by hcwilliamsjr | Apr 25, 2023 | Uncategorized
Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic behaviors, "found that consumers generally search too little, get confused while evaluating complex alternatives, and are slow to switch from past choices, even if it costs...
Recent Comments