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Are Home Values Going Up or Down? Its all in the Showings….
As showings go...so do the sales!
I came across this post/article and thought I would share it.
As a busy listing agent I am able to stay in tune with the local market by the overall buyer demand for my listings and how many showings that demand manifests into. If I list a home that I know is priced right and I get a more activity that usual it could be just that home. If that activity trends across all 8 to 10 or 12 homes I have listed across North County, well then that is indicative of something greater going on and also of what is to come. It is no secret that the current market has heated up tremendously. It started in February-March with a spike in buyer demand which manifested in more showings and multiple offers. We are now seeing that this activity has led to lower inventory as homes continue to get snatched up quickly. We are also seeing and will continue to see (for the immediate future at least) a spike prices.
I have to give credit to the team at Showing Suite for putting this data out as I have swiped the graph from them. Showing Suite provides a 3rd party product that tracks home showings and then automatically solicits feedback on the listing agent’s behalf from the agent who showed the home. The product is very slick and I highly recommend it to all listing agents. This allows Showing Suite to track the average number of showings each month across thousands of homes listed for sale.
The graph tells the story in advance. The number of showings plunged toward the end of last year, so did offers and values. But they ticked up at the start of the year and were on a near vertical climb from late December through March. It is no surprise that total number of sales have gone up and now so are values as the available inventory trends down.
So if you are curious how hot the market is, just find a busy listing agent(I mean just call me) and ask them how many showings they are generating on their current listings.
Thinking of selling your North County Home?
I earned my spot as the #1 overall agent AND the top listing agent at Coldwell Banker Vista Village for 2011 by listing more homes for sale than any other agent in my office.
My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. I have a very detailed, written marketing plan designed to drive more traffic to your home and get it SOLD quickly, and for top dollar with minimal stress and hassle.
Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village and was the overall #1 agent for 2011
License#01845539
Phone (760)216-6604
Casey@CaseyCooke.com
When is it a smart decision to refinance again?
What a crazy market we are in huh? You refinance to 5.5% and then rates drop lower? Then even lower?
A common question I get is when should you look at refinancing again?
Those who refinanced their mortgages a year or so ago, when interest rates averaged just below 5 percent for a 30-year fixed-rate loan, may already be wondering whether it’s time to refinance yet again now that rates are at least a full percentage point lower.
7 Ways to Stage your Home for Maximum Value Here!
Below are a few tips offered by the NY Times you should consider. My advice is pretty straightforward. Call a mortgage professional like my friend Andre Kwan at Prime Lending (619) 623-9393 and have him run the numbers. Compare you current payment to your new payment to see how much you could save. Then from there figure out how much that refinance is going to cost you in closing costs. Figure out how many months at the lower payment you need to stay in the home to recoup the cost. Anything you save after that is pure savings. Now you also need to realize that when you refinance you are starting at the very beginning of your loan amortization(paying nearly all interest) and you start a fresh 30 year term, so you want to keep that in mind. Also, rates are so good right now that you may want to look at a 15 year loan instead of a 30 year. You may be able to keep you payment about the same but pay it off in half the time. For some that may be a very smart decision!
Here are those tips and a link to the whole story, let me know what you think!
- As of Thursday 5/10/12, according to Freddie Mac’s weekly survey, the average rate on a 30-year loan was 3.83 percent, down from 4.63 percent a year ago, setting a record low.
- According to financial planners, homeowners considering refinancing first should delve into their financial goals, specifically the length of time they plan to live in the home.
- Some homeowners decide it makes more sense to stay with their current mortgage, especially if the savings are small or they plan to move within a year or two. According to one financial planner, when homeowners refinance, they’re not building equity; they’re starting at the beginning of the amortization tables.
- Amortization schedules work like this: In the first few years, almost all of the payment goes toward interest, so the longer the homeowner has the loan, the more is put toward the principal.
- Those who refinanced in the last year or two don’t have to consider amortization tables, but they do need to know their equity position – and when refinancing would begin to pay off.
- To calculate that, start with a rundown of all the closing costs, then divide the closing costs by the amount expected to be saved on each monthly payment.
- Depending on the lender, most homeowners likely need to have at least 20 percent equity, and maybe a little more, if they want to wrap closing costs into the new mortgage.
You can check out the full story by clicking here!
Thanks for reading!
Thinking of selling your North County Home?
I earned my spot as the #1 overall agent AND the top listing agent at Coldwell Banker Vista Village for 2011 by listing more homes for sale than any other agent in my office.
My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. I have a very detailed, written marketing plan designed to drive more traffic to your home and get it SOLD quickly, and for top dollar with minimal stress and hassle.
Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village and was the overall #1 agent for 2011
License#01845539
Phone (760)216-6604
Casey@CaseyCooke.com
6 moves to avoid when buying a home…
I learned a long time ago that “common sense is NOT common practice“. This is especially the case during the emotional time that surrounds buying a home, when people tend to do some non-commonsensical things. Here are a few that I’ve seen over the years that have delayed (and even killed) deals:
1. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Small, explainable deposits are fine, but getting $10,000 from your parents as a gift in cash is not. Discuss the proper way to track your assets with your loan officer.
2. Don’t make any large purchases like a new car or a bunch of new furniture. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher ratios…higher ratios make for riskier loans…and sometimes qualified borrowers are no longer qualifying.
3. Don’t co-sign other loans for anyone. When you co-sign, you are obligated. With that obligation comes higher ratios, as well. Even if you swear you won’t be making the payments, the lender will be counting the payment against you.
4. Don’t change bank accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is a consistency of accounts. Frankly, before you even transfer money between accounts, talk to your loan officer.
5. Don’t apply for new credit. It doesn’t matter whether it’s a new credit card or a new car, when you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.
6. Don’t close any credit accounts. Many clients have erroneously believed that having less available credit makes them less risky and more approvable. Wrong. A major component of your score is your length and depth credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both those determinants of your score.
The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. Any blip in income, assets, or credit should be reviewed and executed in a way to keep your application in the most positive light.
Thank you very much for reading my blog! I hope you found it helpful. If you enjoyed reading this, please let me know by adding a comment below or sending me an email. If you have any additional questions please submit those as well and you may see them on a future blog post.
Here are a few additional articles you may find useful!
1. Attention Home Buyers- Avoid these Common Mistakes when buying a home
2. Attention Buyers-Are Short Sales a Real Deal?
3. How long will it take me to buy a short sale?
Thinking of selling your North County Home? My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. We specialize is helping sellers sell their North County homes for top dollar with minimal stress and hassle. Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have about the process.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village, License#01845539.Phone (760)216-6604. Casey@CaseyCooke.com
Most Americans beleive rents AND home prices are set to rise…
This is from Fannie Mae’s Quarterly National Housing Survey they issue every ninety days. Fannie Mae also does a monthly survey covering different aspects of the housing market.
Here are some record numbers we found interesting in Fannie Mae’s March report.
1. Thirty-three percent of respondents expect home prices to increase over the next 12 months, the highest level over the past 12 months.
2. The percentage of respondents who say it is a good time to buy rose to 73 percent, the highest level in over a year.
3. Forty-eight percent of respondents think that home rental prices will go up, the highest number recorded to date.
4. On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months, the highest number recorded to date.
Doug Duncan, chief economist of Fannie Mae, capped the report off by stating:
“Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”
I have been saying it for quite some time now and it appears the rest of the country is falling in line. 2012 is the BEST year to buy we have seen in quite some time. I beleive at the entry level in San Diego we have hit bottom and will bounce along there for quite some time. The upper end still has some falling to do since the “move up” buyers are gone, but the entry level market is robust with buyers and the mid- tiered homes are moving as well.
If you are thinking about selling and have been sitting on the fence, now may be the time to get off that fence while the spring market is upon us.
If you have been thinking about buying now is a great time to take advantage of pricing we have not seen in years and record low interest rates.
Thank you very much for reading my blog! I hope you found it helpful. If you enjoyed reading this, please let me know by adding a comment below or sending me an email. If you have any additional questions please submit those as well and you may see them on a future blog post.
Here are a few additional articles you may find useful!
1. Free help for people in Foreclosure! Click here for some great resources.
2. 5 tips for checking out a neighborhood before you buy!
3. How does a mortgage application effect your credit score?
Thinking of selling your North County Home? My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. We specialize is helping sellers sell their North County homes for top dollar with minimal stress and hassle. Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have about the process.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village, License#01845539.Phone (760)216-6604 . Casey@CaseyCooke.com
Top Reasons People Buy A Home…
Enough Said...
Thank you very much for reading my blog! I hope you found it helpful. If you enjoyed reading this, please let me know by adding a comment below or sending me an email. If you have any additional questions please submit those as well and you may see them on a future blog post.
Thinking of selling your North County Home? My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. We specialize is helping sellers sell their North County homes for top dollar with minimal stress and hassle. Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have about the process.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village, License#01845539.Phone (760)216-6604 . Casey@CaseyCooke.com
Coldwell Banker first time home buyer survey results-How do you stack up?
First time home buyers-is this you?
The term “starter home” seemingly refers to an entry-level property – one that is affordable yet needs “tender love and care.” But amidst the many homes available in today’s market, current first-time buyers want places with a little less “room for improvement.” In a survey of 300 consumers who purchased their first home in the last year, 87 percent said finding a move-in ready home is important to them.
Homebuyer question: How long will it take me to buy a short sale?
This survey from Coldwell Banker Real Estate explored what was most important to new buyers to provide insight for those looking to buy or sell in 2011. According to the National Association of Realtors (NAR), first-time home buyers accounted for half of the market in 2010.
What Surprised First-Time Home Buyers
Several consumers experienced unexpected benefits after buying their first home:
67 percent said the market afforded them the opportunity to buy a home sooner than expected•Half said they found a home in a more desirable neighborhood than expected•61 percent were able to get the home at a better price than expected•40 percent got more space than expected•43 percent locked in a lower interest rate than expected
Homeowner Question: I’ve missed 3 payments, am I now in foreclosure?
“There’s a real ‘a-ha’ moment for sellers revealed by this survey, that the condition and quality of their home matters a great deal to first-time homebuyers,” said Diann Patton, consumer real estate specialist, Coldwell Banker Real Estate LLC. “On top of that, our agents have reported that on average, first-time home buyers now look at more than 11 homes before making decisions, which is higher than in the past. They can be choosy about what appeals to them and are recognizing the benefits of the low prices and wide selection of homes in many areas.”
What They Want
In addition to move-in conditions, first-time buyer results revealed the old adage “location, location, location” still holds true:
- 78 percent of respondents said the home had to be in an area convenient to shops and services
- Three-quarters of buyers said it was important to be close to their place of work
- Nearly two-thirds said it was important to be near “highly-rated” schools
Attention Home Buyers- Avoid these Common Mistakes when buying a home
Survey Methodology
Coldwell Banker Real Estate LLC conducted an online survey of 300 first-time home buyers in the United States (people who purchased their first home within the last year) on their experiences and perceptions of the home buying process.
Thank you very much for reading my blog! I hope you found it helpful. If you enjoyed reading this, please let me know by adding a comment below or sending me an email. If you have any additional questions please submit those as well and you may see them on a future blog post.
Here are a few additional articles you may find useful!
- 3 Surefire Tips to get Top Dollar for your Home even in a slow market.
- Attention Buyers-Are Short Sales a Real Deal?
- 8 tips for buyers to clean up in the year to come
Thinking of selling your North County Home? My team of experienced professionals can help you whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County. We specialize is helping sellers sell their North County homes for top dollar with minimal stress and hassle. Call me directly at 760-216-6604 or email me at Casey@CaseyCooke.com.
When we talk, I will explain the process in detail and answer any questions you may have about the process.
Thank you for reading this, I hope I have been helpful!
Casey Cooke is a licensed Real Estate agent at Coldwell Banker in Vista Village, License#01845539.Phone (760)216-6604. Casey@CaseyCooke.com
Understanding opportunities in distressed properties-watch the video here
Understanding opportunities with distressed properties
Nationwide, 1 in 7 homeowners are behind on their mortgage. Many are severely delinquent and already in Foreclosure. The ongoing issues in the real estate market are causing difficulties for many, but opportunities for others. Banks are working hard to find ways to unload these properties to get them off their books, often at steep discount.
This creates opportunities for both buyers and sellers.
For homeowners in distress it means banks are becoming more motivated to work with homeowner to avoid Foreclosure by selling the home for it’s current fair market value. Many favorable changes to both Foreclosure and tax laws in California means an experienced Realtor can often sell these homes through a Short Sale. This helps the owner avoid a Foreclosure, and provides a fresh start for the seller, owing nothing to their previous lender and having no tax liability. Each situation is different, and we always recommend every homeowner should seek competent legal and tax advice before proceeding, but the reality is that this is a real solution and we have helped dozens already.
For buyers this means a tremendous opportunity is developing to purchase Real Estate at a tremendous historical discount. Interest rates are very low, prices are the softest they have been in years, and banks are highly motivated. This has created a “perfect storm” for savvy buyers to step in and earn a substantial profit.
This video will explain the foreclosure process and show you how you can purchase these distressed properties at a steep discount.
Also, please click to open the handouts in the Download section.
If you have any questions or want to discuss opportunities further, whether for buyers or sellers, please contact Casey Cooke directly.
Click Here to Watch the Short Video!
Thank you very much for reading my blog!
Here are some additional articles you may find useful:
- 10 Steps to Preparing for Your Home Purchase
- Homeowner Question: I’ve missed 3 payments, am I now in foreclosure?
- Homebuyer question: How long will it take me to buy a short sale?
Thinking about a Short Sale? I can help you Short Sale your home whether in Carlsbad, Vista, Oceanside, San Marcos, Escondido, or elsewhere in North County and never pay your bank another dime.
Send me an email at info@CaseyStopsForeclosure.com and we can set up a free consultation.
When we talk, I will explain the process in detail and answer any questions you may have about the process. Or, if you prefer, you can call me directly at 760-216-6604.
Casey Cooke is a licensed Real Estate agent at Coldwell Banker, License#01845539.
Phone (760)216-6604. info@CaseyStopsForeclosure.com
As ALWAYS. Casey Cooke and Coldwell Banker want you to know that defaulting on your mortgage, going into Foreclosure and doing a Short Sale or Loan Modification can have serious tax, legal, and credit consequences. We ALWAYS recommend you seek the advice of competent tax and legal counsel and consider all of your alternatives. We can help you, but we are not attorneys or tax professionals and therefore this should not be construed as tax or legal advice at any time!
