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Real Estate Blog

Wait. That has to be a typo, right?

Ha. No, it's not! As usual, our friend over at Keeping Current Matters came up with an excellent piece on this reality that so many aren't even aware of. Read more, then let us know what you think! 

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There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide:

  • Greater exposure to more buyers
  • The skills of a professional negotiator
  • A layer of protection from possible legal liabilities
  • Professional guidance in navigating any pitfalls that may arise
  • A level of safety while showing the home

There is no doubt that these services are valuable to any family that decides to sell. The only question is – how

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Do you or someone you know have a change in lifestyle looming on the horizon? It's a huge step, but one that can come with some ease if you may be willing to try a few of these great tips from 55Living:

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We can all agree that change is hard. Even when we’re making a change for the better – such as moving to a carefree senior living community – nervousness, sadness about leaving your old home, and feeling out of place can make it difficult to transition smoothly into your new lifestyle. However, with a bit of perseverance and a positive attitude, you can start to feel at home in your senior living community in no time.

TRANSITIONING FROM ONE HOME TO ANOTHER 

By the time we reach retirement age, most of us have

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Everyone seems to have an interest in something.

This often leads to collecting, a past time of what seems like generations past, but is actually still prevalent!

But is what you are keeping a collection, or just keeping some clutter?

Marie Kondo, a #1 New York Times best-selling author of both Spark Joy and The Life-Changing Magic of Tidying Up , approaches whether or not items give you joy, in deciding whether to keep them or send them on to another place in their life. 

Some items in your home may truly bring you joy; others, you may have forgotten the reason of why you have them in your home.

Some may have been gifts you accepted on a memorable holiday, others may be something that was passed down by someone else who had a hard time

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"It's a tug of war, we expected more"... Tug of War, Paul McCartney
  Home loan rates bounced around this week, due to volatility in the U.S. Bond market, but went into the weekend still near three-month lows.

There are push/pull items that continue to limit how low and high rates can go. Here is what home shoppers should know:

Factors currently limiting how low rates can go:
 
  1. Tight U.S. labor market.
  2. Rising wages, fastest pace in a decade.
  3. Soaring business and consumer confidence.
  4. Solid economic growth.
  5. Tough technical barriers.
Factors currently limiting how high rates can go:
  1. Slowing economic conditions around the globe.
  2. Low global bond yields – German 10-year Bund yield is 0.28% and the U.S. 10-year Note yield is
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We always love when great information lands in our inbox, that we can in turn share with our community here on the blog. Thank you so much to Patrick Steele, one of our trusted "mortgage dudes" for sending this one our way! :)

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Mortgage rates technically hit their lowest levels in exactly 2 months yesterday.  Today merely takes them deeper into that territory.  The size of the improvement is less impressive and less meaningful compared to that "lowest in more than 2 months" talking point.   That said, taken in conjunction with the last 4 business days, the average lender is roughly an eighth of a percentage point lower.  That comes out to $7/mo for every $100k financed (or $21/mo on a $300k loan).

On a somewhat frustrating note,

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We love it when our mortgage guys send us great info. Check out the latest info from Patrick Steele!

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Mortgage rates held on to their recent improvements today after the important Employment Situation (the big "jobs report") showed November job creation was lower than expected.  In general, weaker job creation is good for interest rates because it speaks to slower economic growth and inflation (both of which are enemies of rates).  This report was particularly important because a strong result would have cast doubt on several speeches from members of the Federal Reserve.  Those speeches have warned about slower economic growth in 2019 and the potential for fewer rate hikes than previously anticipated.  

There were no clear

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It is highly likely that the home you currently own (or will buy some day) won't be your forever-home. Families change, from size to dynamics, jobs change from pay to location. Needs change from large yards to extra bedrooms. Thus it is a wise thing to consider... What is important to the NEXT person who buys that home (from you!) may be different from what was important to you (and your family). 

Are you buying a FOREVER home... or a FOR NOW home? Most of us buy a FOR NOW home... which means you DEFINITELY need to put on a seller's cap at some point- why not try it on, now?

Here's a few just to get the thought process started:

1.) You: Schools really aren't that important to us (we don't have kids/aren't planning on having kids/ we plan on home

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Mortgage Matters: Is an approval an approval?

  • By Steve Rockefeller 

Historically low mortgage interest rates have continued to spur home sales in Hampton Roads. If you’ve been thinking about buying a new house, or perhaps your first house, this may be the time to commit and jump into the marketplace. The key, however, is gaining loan approval.

Just when you thought the “F” word was a four letter word, when applying for a mortgage loan it is a five-letter word spelling “FRAUD.” Because of the sins of the housing industry’s past, along with what appears to be a constant mountain of foreclosures, every lender in the nation at every level of their company is charged today with preventing mortgage fraud. If you

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A few quick notes:

  • Interest rates are projected to increase steadily heading into 2019.
  • The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home!

Got questions on that? Be sure to reach out to one of our premier lenders, Patrick Steele of Tidewater Mortgage, or Steve Rockefeller of George Mason Mortgage. Both are incredibly knowledgeable on everything you could want to know about the mortgage process and are willing to help out with any questions you may have.

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Thank you to KCM for a great writeup!

Got questions? We've got answers! Hit us up in the comments

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Do you think that FSBO, or "For Sale By Owner" sounds easy?

Or even if it's just a bit of work on your end as the seller, it will TOTALLY be worth the money you save.... right?

Not so fast... check out this honest writeup from the National Association of Realtors:

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You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s regret” when they see how much less they get for their properties.  Some may want to avoid paying an agent's commission—but even factoring that in, FSBOs still stand to make less on their home sale. “Talk to an agent and find out what they suggest for the commission, and then do the math

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