Inflation News Could Hint at Higher Rates, Not Lower – Ouch! We’ll start with the good news for our buyer and seller clients – mortgage rates dropped this past Friday, (4/12). The bad news is that the previous Wednesday was a thumping….
Two years ago, we were in a rabid seller’s market. Home prices had gone through the roof and were at a monthly median sales price of $433,500. That was up from $339,000 in February of 2021 and up from $290,000 in 2020…
7% Mortgage Rates No Help but Good Loans Available in 6% Range Ultimately, the acid test of where any given real estate market is at currently, may reside in the number displayed on the chart below: “Listings Under Contract.” This week’s Listings…
Market Will Remain Sluggish Without Improvement In a recent Snapshot, we wrote that 7% mortgage rates were the line in the sand where buyers move forward or hang back. At the time, rates were around 6.6% and buyers were grabbing their helmets…
First of all, let’s look at January’s sales numbers to see if we can gain some insight as to the direction of our market, since that seems to be the number one question most asked Jonathan and I by friends, family, and…
It is (or should be) the nature of salespeople to be bullish on their product or service. A downer attitude will pretty much ensure poor sales, unless perhaps you’re in the mortuary business. Thus, with excitement and reluctance, The Bodeen Team looks…
Looking at this past month, as is our custom, we bring you December 2023 numbers compared to December 2022. Active Listings: 14,593 vs 16,298 last year – down 10.5% – and down 8.7% from 15,981 last month Under Contract Listings: 5,127 vs…
Prices Not So Much The major real estate news lately is the significant lowering of mortgage rates to the low 7% to high 6% range. This is reflective of positive inflation reporting. It’s good news for buyers, but is it enough to…
Have Shelter Costs Lowered? In encouraging news for buyers, mortgage rates have continued moving downward and have hit a 3-month low. Per Mortgage News Daily, the conventional 30-year fixed rate mortgage as of Friday December 1st has dropped to 7.09%. A 30-year…
We trust your Thanksgiving weekend was wonderful! Apart from the traditional, additional, and certainly not subliminal poundage gained, it was for the 18 or so Bodeen family and friends who gathered at our home😉. As most of our readers are aware, we…