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 😉

-The Sunshine Team

Ashley, Evelyn & Dana

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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 Here is the link…has some great info in there including fixing outdated grout, damaged yard, pet damage, floor damage and water stain damage!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*Clean and stretch any carpeting that looks outdated to give it a new look!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

 

 

 

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

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!

“WASHINGTON, DC – The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased slightly in September, falling 0.3 points to 87.7, reversing August’s 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.”

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.

“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