Weekly Rate and Real Estate Update, 8.22.12

Rates bump up a bit…

Dan’s activity this week:

Success!  There is one less homeless family in Hamilton County.  The foreclosure offer was finally accepted and we are heading to closing in September.  So happy for this family to have found a home they love and that will be a great investment for them.

Meanwhile, the short sale is…well…acting like a short sale.  While my other clients won’t be homeless, these clients will be homeless as of next week’s closing.  They know they may have to wait and go through some struggles but in the end, again, they are going to end up in a great position with their home, buying it well below its fair market value. 

Even with the rates historically low, they did bump up a bit as seen below.  One of my daily newsletters has a fairly detailed article on their reasoning for the recent increase.

http://lowes.inman.com/newsletter/2012/08/21/news/198993

Finally, we attended the conference last week and came away with a renewed focus on how to run a well oiled machine.  It’s boils down to the basics, doing them well and doing them consistently.  So any spare time is now being used to get everything ship-shape!

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 3.81 percent to 3.86 percent in the week ended Aug. 15, according to Bankrate.com. The rate for 15-year mortgages rose from 3 percent to 3.05 percent.

Contact me here for more information and to start your home sale or purchase process!