Browser Beware: Browsing Online vs. In Person

Are you up to date on all of your online browsing rules? Houselogic.com wrote a GREAT article about the better sites to use, how to spot incorrect/outdated information, etc. We are ALWAYS telling our buyers to send us addresses first if the home they see online didn’t come directly from us. We’ve seen homes listed on Zillow that sold a year ago before! We also warn our buyers that agents nowadays use photographers and filters for photos so when they walk into that shiny new home, it may not be as shiny and new as it looked online. We love this tidbit below! Be sure to follow the link to the full article and information.

“First things first: You wouldn’t read last month’s Vanity Fair for the latest cafe society gossip, right? So you shouldn’t browse property sites that show old listings.

Get the latest listings from realtor.com®, which pulls its information every 15 minutes from the Be First Through the DoorAsk your agent to send you automated emails from their MLS with new properties that meet your specs.Multiple Listing Service (MLS), regional databases where real estate agents post listings for sale. That means that realtor.com®’s listings are more accurate than some others, like Zillow and Trulia, which may update less often. You wouldn’t want to get your heart a flutter for a house that’s already off the market.” Credit: houselogic.com

https://www.houselogic.com/buy/how-to-buy-step-by-step/house-shopping-sites/

Need help searching for that perfect home?! Call us today at 636-336-1330 and ask for Ashley! Have a Sunshine rest of your Monday everyone!

-The Sunshine Team

Ashley, Evelyn & Dana

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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!

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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

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

What to Expect…From a Home Inspection

Good morning everyone!

Today, I thought we’d discuss home inspections. First, because the New York Times just wrote a pretty awesome article that I wanted to share with all of you. Second, because I have a buyer’s inspection today in the beautiful Lake Saint Louis, MO and am hoping for stellar results! Before I share this link with you, I wanted to point out something that I read in it. I saw that the article says that most first time home buyers don’t know that they are responsible for the home inspection and to make sure to make it contingent upon these inspections. While this is TRUE, the standard contract DOES include an inspection contingency. Also, it is the responsibility of your agent to let you know all of these things that you are responsible. Another point I wanted to make is that there are two types of inspections in Missouri that most people are responsible for. The home inspection which is 95% of the time taken care of by the buyer and then the city/occupancy inspection which is taken care of by the seller to make sure everything is up to code and not dangerous! Most of St. Charles County does not require a city inspection (aside from LSL) but most of St. Louis County DOES! Hope this helps you get by a little easier during your home buying process. And remember, Sunshine Realty is ALWAYS here to assist if you need an agent!

Here is the NY Times link that shows you just what to expect during most inspections:

Happy Easter!

“Home is where memories are created, friends and family belong and laughter never ends.”  -unknown

We hope everyone has a fun, blessed AND safe (where did this weather come from?!) Easter! Enjoy this time with those closest to you and remember, our family is always here to help you with your home buying and selling needs!

-The Sunshine Team

Ashley, Evelyn and Dana

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FHA Lowers MIP!!

Good Evening Sunshine 🙂
We can’t wait to share this news. Just…WOW! Another step to help home buyers accomplish the purchase of their dream home! Thank you to National Association of Realtors for sharing this exciting news!
“FHA TAKES STEPS TO HELP HOME BUYERS
In a move applauded by housing experts, the federal Housing Administration (FHA) took an important step to help low and moderate-income buyers get into a home.  For the first time in two years, FHA has cut their annual mortgage insurance premium.  The premium has been cut from .85 to .60 percent.” (Reference: Nat’l Association of Realtors)
See the full article here: http://narnewsline.blogs.realtor.org/2017/01/09/fha-cuts-mortgage-insurance-premium-for-first-time-since-january-2015/#sf50032163