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August 2013

Found 24 blog entries for August 2013.

houseinhand_voronin_450After all the preparation and waiting, you finally get the call you’ve been waiting for: A buyer is writing an offer. First, you want to know the price — but don’t get excited or exasperated by the number until you see all the terms. Contingencies, seller concessions and real property requests can dent (or boost) the bottom line. It’s possible to get a full-price offer and yet net less money than you would get from an offer that’s $20,000 under asking price.

Here’s what could affect your bottom line: Purchase Price, Earnest Money Deposit, Mortgage contingency, Seller Concessions, Inspection Contingency, Personal Property,  and Appraisal Contingency.

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791 Views, 0 Comments - Rates on 30-year fixed-rate mortgages averaged 4.51 percent with an average point of 0.7 percent for the week ending Aug. 29, down from 4.58 percent last week but up from 3.59 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and one-year Treausry-indexed adjustable-rate mortgage (ARM) loans dropped, while rates on Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans increased.

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photo: ©[max5128]/123RF.COM

709 Views, 0 Comments - When people buy a home, a plethora of factors influence their decision. The look of the home, as well as its size, layout, age, and proximity to amenities are all important to varying degrees, depending on the individual buyer.

The local school district is one factor with significant influence. We’ve always known that good schools attract families with school-age children, but recent statistics add concrete numbers and surprising trends to the storyline.

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Home prices are still surging, but the pace of the gains has steadied as interest rates continue to rise.

Prices for homes in the nation's 20 largest cities in June rose 12.1% over the last year, according to a report Tuesday from S&P/Case-Shiller home price index.

While that gain is still robust, it didn't quite match the gain of 12.2% reported for May. Rising mortgage rates may be to blame.

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Wall Street Journal - More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists at Goldman Sachs Group.

The analysis estimates that around 20% of all homes sold before the housing crash were “all-cash” sales (or around 30% of sales by dollar volume). But over the past seven years, the all-cash share of sales has more than doubled, increasing by more than 30 percentage points, according to economists Hui Shan, Marty Young and Charlie Himmelberg.
600 Views, 0 Comments - - Everybody's heard of the 30-year home mortgage, and probably the 15-year mortgage, too. But did you know that there is a 10-year, fixed-rate mortgage? And for some, it can offer big advantages.

Those advantages include lower interest rates and enormous savings in the amount of total interest paid over the life of the mortgage, says Jim Duffy, a mortgage banker with Cole Taylor Mortgage in Atlanta, Georgia. But, he adds that because you are paying the principal of the mortgage down in a third of the amount of time you would a 30-year mortgage, the monthly payment will be higher.

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cyntha_2000A mountain girl through and through, Cynthia was born and raised in Boulder, Colorado.  She moved to Bozeman with her husband and son – Peter and Donovan- in 2012 to ski and recreate just that much more.  Aside from Montana hobbies, Cynthia has a fervor for travel which she hopes to do much more of in her lifetime.  

A graduate of the University of Colorado in international affairs, Cynthia has studied and worked abroad in Venezuela, Argentina, Brazil, and Japan.  She speaks Spanish fluently.  After returning from Japan as an English as a second language teacher, Cynthia found herself working in corporate America.  She worked as a materials buyer for a Fortune 500 packaging company in international procurement and later as a key account representative

1,630 Views, 0 Comments - Home builders are as confident as ever — nearly eight years to be more precise. Whether that will translate into actual construction remains to be seen.

The National Association of Home Builders/Wells Fargo housing market index rose 3 points to 59, marking the fourth rise in a row. Economists polled by MarketWatch had expected a 55 reading. July’s level was downwardly revised by a point to 56.

Any reading above 50 is considered “good.”

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720 Views, 0 Comments - Homeowners who've wanted to sell should be cheered by recent news of rising home prices, easier lending terms for buyers and general economic improvement that encourages house hunting.

But the silver cloud has a dark lining: Rising interest rates can undercut home prices.


Rising mortgage rates are hardly a crisis, as they're still low by historical standards, but prospective sellers should keep the rate and price relationship in mind as they plot their strategies.

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