Today’s News Synopsis:
Mixing humor with marketing. Freddie Mac reported mortgage rates decreased this week with 30-year rates now at 3.45% and 15-year rates at 2.95%. However, they may not hit an all-time low. What is the best time to list your property?
In The News:
Zillow – “Listing in Early May Can Earn Home Sellers a $2,100 Premium” (2-27-2020)
“To get the most money when selling your home, the best time to list it for sale is typically the first half of May, a Zillow® analysis shows. Listing your home during this window can bring a median premium of $2,100 on the typical U.S. home — and as high as $24,400 in expensive markets.”
Freddie Mac – “Mortgage Rates Fall Back” (2-27-2020)
“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.45 percent.”
National Association of Realtors – “Pending Home Sales Ascend 5.2% in January” (2-27-2020)
“Pending home sales rebounded in January, ticking up following a decline in December, according to the National Association of Realtors.”
ATTOM Data Solutions – “Vacant “Zombie” Foreclosures Increase to 3.1 Percent Nationwide” (2-27-2020)
“ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its Q1 2020 Vacant Property and Zombie Foreclosure Report showing that over 1.52 million U.S. single-family homes and condos are vacant, representing 1.5 percent of all homes.”
NAHB Now – “Multifamily Builder and Developer Confidence Remains Unchanged in the Fourth Quarter” (2-27-2020)
“Confidence in the market for new multifamily housing remained unchanged in the fourth quarter, according to results from the Multifamily Market Survey (MMS) released today by NAHB.”
Mortgage Professional America – “More homeowners want to make home improvements this year” (2-27-2020)
“Three in four homeowners are planning to make home improvements this year, boosting renovation spending by 27%.”
MarketWatch – “Mortgage rates fall to three-year low amid coronavirus – here’s why they may not hit an all-time low” (2-27-2020)
“Mortgage rates usually follow the direction of the 10-year Treasury note’s yield, which dropped to the lowest level ever recorded as more cases of COVID-19 emerged outside China.”
HousingWire – “Humor in Real Estate: What Does It Meme?” (2-27-2020)
“It’s hard to recall a time before memes existed on the internet. Highly relatable and 100% enjoyable, memes have rapidly taken over our digital landscape. And it’s fair to say they’ve infiltrated the real estate industry, too.”
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with OC FIBI on Tuesday, March 3.
Bruce Norris will be presenting his newest talk 6 Things To Succeed In 2020 with NorcalREIA on Wednesday, March 11.
Bruce and Aaron Norris will be presenting their latest Florida Buying Bootcamp 2020 Thursday-Friday, March 19-20.
A big reason millennials were not able to purchase a home was they were not getting the extra money from their parents. The National Associaton of Realtors reported a 4.6% increase in pending home sales the previous month. The Mortgage Bankers Association reported mortgage applications increased 5.3% from the previous week
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