In the blink of an eye, Labor Day has come and gone already for 2016. It has been a good year for real estate the first three quarters of the year and barring anything unforeseen, we should continue through the end of the year. Interest rates have raised slightly but are still close to their unbelievable historically low levels. When they did rise recently, buyers hardly respond to the uptick as they don’t affect their payments too drastically. The Federal Reserve Chairman, Janet Yellen does not see a Fed rate hike until December now and the last time she did raise them, mortgage interest rates actually went down.

So, with rates remaining low, prices remaining stable and with our projection of more “good” inventory coming on the market, we should finish the real estate market on a high note in the fourth quarter. Call me if you have any questions or concerns about rates or loan programs.

With low rates and great loan programs available, we are starting to see Millennial home buyers and first time home buyers enter the market (finally!). This should bolster the move up market so get ready for sale of home contingencies on some of your offers and linked sales contingent on one or two other deals closing.  When this happens, it is critically important to work with professional agents, lenders and other reputable vendors. One rotten apple can spoil the whole bunch. It is best to work with local, direct lenders, licensed professional home inspectors who are going to inform the home buyers of the property’s condition and not “kill” a deal and the listing agent should provide valuable information to help the appraiser justify the sales price. Having all of these pieces in place does not guarantee a smooth transaction but it gives you much better odds of a successful sale and settlement. So be sure to call me if you or someone you know is looking to buy or sell a home. Every market is different so having a knowledgeable professional representing you and navigating the process is more important today than ever before.

One last point with regards to any contemplated move up purchase.  If it serves your interest there are a number of ways that the elite lenders I work with may be able to help you write a contract non contingent or allow you to negotiate one on your sale so reach out to me so we can discuss the best way to skin this particular cat.

Good luck to all the kids back in school and enjoy the upcoming fall weather!

It’s a good life.