Fees You May NOT Have Prepared For…

Happy February Sunshine!

Today, and lately actually, we have been working with a lot of sellers and buyers that don’t know about certain fees/costs that are involved in the home buying process. Particularly, closing fees, title fees, inspections both government and home, etc. We found a FANTASTIC article written by houselogic.com discussing a lot of these “unknowns” that many people, especially first time home buyers, may not know about.

Check it out here: Unknown fees for a Buyer

To recap a lot of it here, a buyer has many fees when it comes to buying a home ON TOP of the actual purchase price. These costs can include an appraisal ordered by the lender, lender fees, title company and search fees that help provide clear title, possible survey fee if you want to know where your property ends and begins, home inspection fees including radon, sewer, pest & overall home, etc. ALL THINGS TO THINK ABOUT before you take the plunge into the home buying process :). We hope this helps brighten your day just a bit and gives you just a little more insight into the home purchase process and what to plan ahead for!

Have a Sunshine Day everyone! And remember, if you need help in selling, buying or both, we are here for you! Give us a call today at 636-336-1330 and ask for Ashley to get your simplified process started :). Everyone needs a little help every once in a while ūüėČ

-The Sunshine Team

Ashley, Evelyn & Dana

Advertisements

Repairs to make before listing your home

Hey Sunshine!

Today, I saw a really great article on houselogic.com about repairs to make before selling your home. Here is the link…has some great info in there including fixing outdated grout, damaged yard, pet damage, floor damage and water stain damage!

Houselogic article: repairs to make before selling your home

Those are all fantastic recommendations…especially the info on water stains. Those scare buyers! Fix them, especially if what caused them are already taken care of! Easy and SO SO worth it!

Here are a few other things we recommend sellers do before listing their home:

*Paint over dark colors with neutral tones to brighten your space.

*Service your AC/Heater if you haven’t done so in over a year.

*Clean and stretch any carpeting that looks outdated to give it a new look!

*Paint/repair baseboards/doors

These recommendations plus the other great ideas in the houselogic.com article are great starters to getting your home ready to list and meet with a listing agent! Call us today for a free consult to learn about these and MUCH MORE!

Happy Monday!

The Sunshine Team

Ashley, Evelyn & Dana

 

 

 

Is the Economy a positive factor in YOUR buying decision currently?

Apparently, according to Fannie Mae, the economy is a positive uptick in American’s decision to purchase a home currently. How do you feel about the economy and home sales right now? Give us a call today to see how we can help you save EVEN more with all star and recognized service!

‚ÄúWASHINGTON, DC ‚Äď The Fannie Mae Home Purchase Sentiment Index¬ģ (HPSI) decreased slightly in September, falling 0.3 points to 87.7, reversing August‚Äôs increase. The dip can be attributed to decreases in three of the six components, including the mortgage rate and household income components. The net share of Americans who said it is a good time to buy a home rose by 5 percentage points, while the net share who said it is a good time to sell a home remained unchanged. However, the net share who expect mortgage rates to go down over the next 12 months fell 4 percentage points, and the net share of survey respondents who said their household income is significantly higher than it was 12 months ago decreased 3 percentage points. Respondents also expressed a slightly more pessimistic view on job security, with the net share confident about not losing their job falling by 1 percentage point. Finally, the net share of respondents who said that home prices will go up in the next 12 months increased 1 percentage point.‚ÄĚ

read more of this article about the economy, rates and homebuyers thoughts here:

http://fanniemae.com/portal/media/corporate-news/2018/september-home-purchase-sentiment-index-6772.html?utm_source=AKZO+Media+Subscribers&utm_campaign=b806c45fd5-EMAIL_CAMPAIGN_2018_10_09_09_03&utm_medium=email&utm_term=0_134f701abc-b806c45fd5-276542805

Have a Sunshine Friday everyone!

Posted by Ashley Murphy McLaren with Sunshine Realty. Reach out to Ashley!

636-336-1330 ask for Ashley Or ashley@sunshinrealtystl.com

FYI…Rates ARE still and WILL PROBABLY still increase.

Hello Sunshine!

Here are the recent rates for all loans, etc. We’d like to share that though rates were at about 3.5% a little more than a year+ ago, they will KEEP increasing! We have had several buyers lately that are scared of this rate (and that was at 4.875%). Our best intel is that though recent buyers are use to 3-4% interest rates, 5 years ago 8% was normal. Our best advise, 5% is the best you’re going to get in the nearest future. The interest rate was at 3-3.5% for so long that the rate is bound to rise and keep going. Take it while you can! Here are the current rates!

 

Conventional 30 year fixed                            4.999%           0 pts

Conventional 30 year fixed 3% Down           4.875%           0 pts

Conventional 20 year fixed                            4.750%           0 pts

Conventional 15 year fixed                            4.500%           0 pts

Conventional 5 year ARM                            4.625%           0 pts

FHA/USDA/VA 30 year fixed                      4.999%           0 pts

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!

chart.FreddieMac.10.18.18.png

“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.

‚ÄúThis is the lowest existing home sales level since November 2015,‚ÄĚ said Lawrence Yun, chief economist at NAR. ‚ÄúA decade‚Äôs 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.‚ÄĚ

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

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

 

Rates are Bumping UP!

Good afternoon Sunshiners!

Here’s a look at the bump in rates since the beginning of the year. Thanks to our friend, Rick Whisman, for the rates and continuous follow up! Rates are slowly rising, give us a call TODAY to see how we can help you. Don’t forget to mention you heard about us on the blog or Facebook and ask for Ashley :). Have a Sunshine day!

THIS WEEK:

Conventional 30 year fixed                            4.250%           0 pts

Conventional 30 year fixed 3% Down           4.375%           0 pts

Conventional 20 year fixed                            4.125%           0 pts

Conventional 15 year fixed                            3.750%           0 pts

Conventional 7 year ARM                            3.875%           0 pts

FHA/USDA/VA 30 year fixed                      4.375%           0 pts

LAST WEEK:

Conventional 30 year fixed                            4.125%           0 pts

Conventional 30 year fixed 3% Down           4.250%           0 pts

Conventional 20 year fixed                            4.000%           0 pts

Conventional 15 year fixed                            3.750%           0 pts

Conventional 7 year ARM                            3.875%           0 pts

FHA/USDA/VA 30 year fixed                      4.250%           0 pts

 WEEK OF 1/9/18:

Conventional 30 year fixed                            3.875%           0 pts

Conventional 30 year fixed 3% Down           4.000%           0 pts

Conventional 20 year fixed                            3.625%           0 pts

Conventional 15 year fixed                            3.375%           0 pts

Conventional 5 year ARM                            3.375%           0 pts

Conventional 10 Year Arm                           3.625%           0 pts

FHA/USDA/VA 30 year fixed                      3.875%           0 pts