It’s finally happening – mortgage rates dip below 6%!
The end of the summer season is bringing some sunnier news on mortgage rates. ☀️
We were hoping to see rates on the 30-year mortgage dip below 6.5% this month, but we got something even better. The 30-year mortgage rate has fallen again, now reaching a 19-month low at 6.05%.
Mortgage rates are finally down! 📉
“Every move signifies a fresh start, a chance to decorate your life with new experiences and make new memories in a new place.”
Mortgage rates have dropped this month to their lowest level in 15 months in anticipation of growing consensus that the Fed will cut rates soon. Maybe it’s finally time to make a move?
What’s New With the NAR Settlement?
I understand many of my clients are curious about how the NAR settlement will alter the upcoming housing market. So, I wanted to shed a little light on the situation.
Sonoma County Housing Market Update & Predictions For 2024: What’s Happening With Rates, Prices & Inventory?
Are you wondering what’s going on with Sonoma County real estate this year? Our market is always evolving, so it’s important to stay up-to-date if you’re eager to achieve your real estate goals. From declining sales to interest rates and inflation, let’s take a look at the real estate trends that are shaping our market and what’s to come the rest of the year.
Has the Sonoma County Market Peaked for the Year?
The summer season is here, and vacationing is more on the mind than moving.
Of course, some aren’t making home moves because they’re still waiting for a mortgage rate drop. Though some economists, such as NAR’s Chief Economist Lawrence Yun, are predicting that they will come down a bit by year’s end, they won’t come close to the 3% that occurred during the once-in-a-lifetime pandemic event.
May Sonoma County Real Estate Update
“Price is what you pay. Value is what you get.”
– Warren Buffett
I’ve been pondering this idea lately. The importance of value over price in decision-making.
Do I buy organic because it’s better for me, even though it’s more expensive? Do I invest in key wardrobe pieces that will stand the test of time or opt for the Amazon version?
We currently live in a price-sensitive world where even those who are considered “wealthy” are having to contemplate this choice due to the rising cost of living. It’s at the core of every purchase we make… including our homes.
May flowers are blooming & so is the Sonoma County market
Can you believe it’s almost summer? Along with the flowers and sunshine, the dynamics of our housing market are changing yet again. There is a subtle but important shift in the market this month. See below for more insight.
Kids are getting out of school and will be home for summer break. Meanwhile, teenagers are leaving home to get ready for college. Needless to say, May and June are months of adjustment. So, should your home adjust as well?
Spring Real Estate, NAR & Sonoma County Fun!
There’s a lot to cover with you this week! Let’s dive right in…
I first want to address the elephant in the room: The National Association of Realtors (NAR).
You’ve probably seen the headlines or maybe watched a video circulating on social media about the $418 million dollar lawsuit settlement this month.
Everyone is talking about it, and I have a few thoughts (and opinions) too.
Treehouses, Puppies & The Spring Market!
Spring is here, I can feel it! Wildflowers are making an appearance in our vineyards and gardens and the housing market is heating up.
Fun Fact: 40% of home purchases happen between March through May.
Why? Good weather, an abundance of sellers, and timing (most people want to be in a new home before the school year starts).
Electronic Document Signing Makes Life Easier for Home Buyers (and Realtors)
Many many home buyers in Sonoma County live out of the area--they buy second homes here, they are relocating for work, or want to experience life in the wine country first hand. Many home buyers, even if they are local, conduct much or their search on line. Why not have as much of the purchase transaction paperwork be conducted on line too? This struck home this afternoon as I prepared an offer for out of town clients to sign. Their scanner was older and it was not easy to assemble the pages to fax back to me--believe me I had the same problem before I got a new scanner. What a tedious process for them! Or I have had illegible faxes come through as a result of too many generations of faxing and scanning of counter offers and counters to counters, ad infinitum. Every one involved tears their hair out and runs around wasting time on mechanics of the paperwork, when it is the content of the documents that is most important! Pretty silly. Enter the paperless transaction, beginning with the electronic signing of contract documents. It is easier than it might sound! What is an electronic signature? An electronic signature is any legally recognised electronic means that indicates that a person adopts the contents of an electronic message. There is a better way. Our new paperless transaction system at Prudential California Realty will be rolled out company wide in the first quarter. Hallelujah!!!!!! So many trees will be saved and countless hours chasing paperwork with also be saved by realtors and their clients. My client asked me about electronic signing--what does it mean? What does it look like? What are the basic facts? You can click on the link above for a Wikipedia article about the concept of electronic signatures. For more specifics, here is a link to the system we will be using, Docusign by Ziplogix. Here is a brief (2 minute) and not too fancy overview of how you, as a buyer or seller, would use Docusign to sign documents electronically. I'll have more posts about the whole process of greening the real estate transactions and preventing grey hairs for all the parties involved! ...