Home Sales Decrease as Interest Rate Increases

Heads up! Great article on the declining home sales due to the inevitable increase in interest rates. Read up!

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“Existing home sales fell 3.4% in September causing home sales to tumble more than 4% from a year ago this time, according to the National Association of Realtors.

Sales are now clocking in at a seasonally adjusted rate of 5.1 million, down from 5.37 million in September of 2017.

“This is the lowest existing home sales level since November 2015,” said Lawrence Yun, chief economist at NAR. “A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur under-performing sales activity across the country.”

Interest rates are on the rise. Mortgage interest rates averaged 4.85% on a 30-year fixed-rate mortgage for the week ending October 18, according to Freddie Mac. The 15-year adjustable rate mortgage averaged 4.26% while the 5-year ARM averaged 4.1%. Last year, this time, mortgage rates were under 4%.”

Read more here : https://gateless.com/articles/close-buyers/existing-home-sales-down-as-interest-rates-rise?CampaignId=492

Need to save money in the home buying and selling process?! WE CAN HELP with OUR commission structure! Call us today to find out how!

Have a Sunshine Day!

Ashley, Evelyn & Dana

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Know your rates!

HERE ARE YOUR CURRENT RATES in St. Louis! Thanks to our friends at CapGrow Home Mortgage for the update!

Conventional 30 year fixed                            4.625%           0 pts

Conventional 30 year fixed 3% Down           4.625%           0 pts

Conventional 20 year fixed                            4.500%           0 pts

Conventional 15 year fixed                            4.250%           0 pts

Conventional 5 year ARM                            4.375%           0 pts

FHA/USDA/VA 30 year fixed                      4.625%           0 pts

Have a Sunshine Day everyone!

-Sunshine Realty STL

Inspections=Negotiation Process #2!

Good morning Sunshine and Happy Monday!

It’s a Friday for us, so we just wanted to wrap up something we’ve come across lately with our sellers/buyers. INSPECTIONS! Anytime I put a buyer under contract on their new dream home, I always, ALWAYS warn them not to get TOO excited until inspection is performed and the inspection notice is signed, sealed & delivered!

So many people don’t understand how crucial the inspection process is. Luckily, one of our favorite inspectors, Zac Lavoi (owner of Greystone Inspection Services), is phenomenal at performing the process & drafting a comprehensible report easy for buyers and sellers to read! Many things can fall apart at inspections that can kill a deal. For example, hidden moisture in walls, foundation issues, roof issues where insurance was claimed but the roof was never replaced, AND SO MUCH MORE!

We recommend doing your research on any inspection company before you hire them. They will be the people that help find ANY and ALL issues with the home you are about to move into. Lord knows you don’t want any surprises AFTER the fact! So this fun meme is for that time Realtors have waiting for that report to come in! LOL! Have a Sunshine week everyone! We hope this helps make it a little brighter!

The Sunshine Team

Ashley, Evelyn & Dana

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June Infographic

Here are the top trends in St. Louis real estate for June 2018. Thanks St. Louis Realtors Association for always helping keep our buyers and sellers knowlegable in the current home trends! Have a good night everyone!

06.2018 Infographic

It’s DEFINITELY still a Seller’s Market!

Good morning Sunshine!

Lately, during our consults, we’ve been getting asked the question, “Is the market still hot?” Our answer…”ABSOLUTELY!” Summer months are always prime time. That usually doesn’t dull down until school is back in session. Just to give you an idea of how amazing the market is for seller’s who price their home correctly that are in first time home buyer price range and basically move in ready, we’ve attached our current Newstime ad to show you how many properties SOLD FAST which means they went under contract in two weeks or less. Out of all of the homes we’ve sold in the past year, the average days on market is 35 days! I’ve also attached this for your viewing pleasure. For a local and family owned company, we are so thrilled we can help so many families save money, sell quickly AND find their next journey/dream home. Have a Sunshine day!

-The Sunshine Team

Ashley, Evelyn & Dana

 

Cabinet Colors to improve YOUR home!

Thinking about selling soon and need an update? OR wanting to make a modern plunge to your kitchen? These cabinet colors are amazing and will instantly improve your kitchen. Which, another pointer, the kitchen is one of two most IMPORTANT rooms when it comes to buyers interest. If you need further help, feel free to call us and use our expertise to help sell your home! We’d LOVE to help! Have a Sunshine Day!

-The Sunshine Team

Ashley, Evelyn & Dana

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Sell your home FAST!

We get this question all the time: What more can I do to help sell my home quicker? Luckily for sellers, right now we are in a seller’s market and homes are going QUICK.

HOWEVER, if you want people to appreciate your home and sell for top dollar with the least amount of days on market as possible…here are some tips for before and during showings!

Have a Sunshine Day everyone!

-Sunshine Team

Ashley, Evelyn & Dana

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