Mortgage Rates Drop to Lowest Level in over a Year and a Half!
Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says: “Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.” But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment. The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house back in April (this year’s mortgage rate high), versus what it could look like if you buy a home now (see below): Going from 7.5% just a few months ago to the low 6s has a big impact on your bottom line. In just a few months’ time, the anticipated monthly payment on a $400K loan has come down by over $370. That’s hundreds of dollars less per month. Bottom Line With the recent drop in mortgage rates, the purchasing power you have right now is better than it’s been in almost two years. Let’s talk about your options and how you can make the most of this moment you’ve been waiting for. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Why Fixing Up Your House Can Help It Sell Faster
Why Fixing Up Your House Can Help It Sell Faster Wednesday July 17th, 2024 For Sellers, Featured, Agent Value, Selling Tips If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains: “Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.” It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for. And there are a lot of homes that need upgrades right now. Millions are entering their prime remodel years, meaning they’re between 20 and 39 years old. Maybe yours is one of them. According to John Burns Research and Consulting (JBRC), the number of homes in their prime remodel years is high and growing (see graph below): If your house falls into this category, it's important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money? Why You Need a Real Estate Agent By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart investment. Put simply, not all upgrades are worth the cost. As Bankrate says: “Before you spend money on costly upgrades, be sure the changes you make will have a high return on investment. It doesn’t make sense to install new granite countertops, for example, if you only stand to break even on them, or even lose money.” And, as that same Bankrate article goes on to say, that’s where a local real estate agent comes in: “. . . a good real estate agent will know what local buyers expect and can help you decide what needs doing and what doesn’t.” Your agent will know what buyers in your area are looking for and what they're willing to pay for it. By working together, you can avoid spending money on upgrades that won't pay off. Instead, they’ll fill you in on which changes will make your house more appealing and valuable. Bottom Line Selling a house right now requires more than just putting up a For Sale sign. You need to make sure it’s in good condition to attract buyers who are willing to pay today’s high prices. The way to do that is by making smart improvements that will give you the best return on your investment. Let’s work together so you know what buyers are looking for and what your house needs before selling. How To Determine if You’re Ready To Buy a HomeUnlocking Homebuyer Opportunities in 2024 Carrie ThompsonDigital Marketing RealtorGenesee County, Oakland County, Livingston CountyCarrie Thompson Team, eXp RealtyMichigan(810) 893-3269Meet Carrie Thompson, a talented and devoted Realtor with a passion for serving others. With an impressive knack for real estate digital marketing, Carrie's skills are matched only by her unwavering work ethic and dedication to her clients.. From her earliest days in the business, Carrie has specialized in listing properties and providing exceptional service to clients throughout Michigan. Her areas of expertise include Genesee County and Oakland County. Visit WebsiteGet In Touch free eGuide Things to Consider When Selling Your House Your Name (required) Email Address (required) Phone Number Send Me This eGuide CATEGORIES Select Category Affordability Agent Value For Buyers Buying Tips Do Not Autopost Downsize Economy Equity Featured First-Time Buyers For Sale by Owner Forecasts Foreclosures Home Prices Infographics Internal Inventory Luxury / Vacation Luxury / Vacation Mortgage Rates Move-Up New Construction Outdated Rent vs. Buy For Sellers Selling Tips Senior Market Time-sensitive Uncategorized
Unlock the Magic of Homeownership: How First-Time Homebuyers Can Receive Up to $25K for Their Dream Home
Owning your own home is a milestone that brings a sense of accomplishment, security, and endless possibilities. Whether you're dreaming of decorating every corner to reflect your unique style or creating a backyard oasis for family gatherings, homeownership offers a canvas for your aspirations. 🌟🏡 The Enchantment of Owning a Home There's something truly magical about owning your own home. It's more than just a place to live; it's a space where: Dreams Come to Life: From cozy reading nooks to vibrant living rooms, your home evolves with your personal journey. Memories Are Made: Every meal shared, every celebration held, and every quiet moment spent adds to the tapestry of your life. Personal Expression Flourishes: Customize every room to match your style, making your home a true reflection of who you are. Imagine the joy of walking through your front door, knowing it's YOURS—a sanctuary that offers comfort, security, and a sense of belonging. 🌈🔑 The Financial Benefits of Homeownership Owning a home isn't just emotionally rewarding; it also offers significant financial advantages: Building Equity: As you pay down your mortgage, you're investing in an asset that can grow in value over time. Stability: Fixed-rate mortgages provide predictable monthly payments, unlike the uncertainty of rising rents. Tax Benefits: Homeowners may qualify for various tax deductions, reducing their overall tax burden. Investing in your future has never been more tangible. 📈💰 Special Opportunity for First-Time Homebuyers 🚨 Are you a first-time homebuyer ready to take the leap into homeownership? Here's an incredible opportunity you won't want to miss: 💰 Get Up to $25K for Your Dream Home! 🏡Ready to OWN? We’ve got FREE money waiting for you. Don’t let this chance slip away! How to Qualify It's simple to get started! Just comment "INFO" below to see if you qualify for this amazing financial incentive. This offer is designed to help first-time homebuyers overcome the financial barriers and make their homeownership dreams a reality. Why Wait? Turn Your Homeownership Dreams Into Reality Today! 🏠💫 There's never been a better time to own your own home. With the combined magic of personal fulfillment and financial benefits, homeownership can transform your life in countless positive ways. Whether you're ready to decorate, invest, or simply enjoy the stability a home provides, now is the perfect moment to take action. Comment "INFO" to get started and unlock up to $25K for your dream home today! Homeownership First-Time Homebuyers Dream Home Financial Benefits of Owning a Home Invest in Your Future Real Estate Magic Get Up to $25K Home Sweet Home Don't miss out on this magical journey of owning your own home. Embrace the possibilities, invest in your future, and create a space that's uniquely yours. 🌟🏡✨ Ready to take the first step towards owning your dream home? Comment "INFO" below to find out if you qualify for up to $25K and start your journey today!
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