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November Housing Market Updates: Home prep for selling, mortgage rates and credit scores

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Prepping your home to sell, and how to get a lower mortgage rate on your next home.

Welcome November -This month we're celebrating the magic of the holidays, cooler temperatures, and feelings of gratitude as we gather with loved ones and reflect on the year. I hope you've been well - I'm excited to share what's going on in our state and the local real estate market. As always, if there's anything I can assist with, send me a message, I'm always here to be a resource!

What's new?

This month I'm looking forward to my favorite Holiday, Thanksgiving! We host 30+ people in our home and I usually make 2 big turkeys and a ham. I am also looking forward to making Christmas Wreaths with my Great Aunt!

On a professional front, I am #31 RE/MAX Agent in all of Massachusetts Year-to-Date. Out of 75,000 licensed real estate agents I am so honored to be your trusted Realtor of Choice. Thank you for allowing me to serve you!

What most home buyers actually want?

I’ve helped hundreds, maybe thousands, of buyers find a home. Despite their differences, they all share ONE desire…NO SURPRISES! 

So if you’re thinking of selling in the next few months, here’s your gentle nudge:

✓ Evaluate major home systems - HVAC, plumbing, electrical, and roof.
✓ Fix leaky faucets.
✓ Tighten loose cabinet pulls or door knobs.
✓ Paint dingy walls, doors, and ceilings. 
✓ Freshen up the yard by trimming trees and shrubs and laying mulch.
✓ Deep clean floors and carpets. 
✓ Declutter, declutter, declutter.

If you’re serious about prepping your home for buyers AND getting top dollar, reply to this email, and I’ll send over my Home Prep Checklist for Sellers

Want a lower mortgage? Try this

Mortgage rates hit their highest point in over two decades this year. Even though interest rates are higher than we would like, you can still go after your homeownership dreams and save on a mortgage. 

Consider an adjustable-rate mortgage (ARM). An ARM is a great option for a monthly payment that’s lower than the payments available with fixed-rate loans or for buyers convinced rates will drop after the introductory period ends. 

Some experts are predicting that in a year from now, 30-year rates will be around 5.25% and 15-year rates around 4.875%.

Pay for points to buy down the rate. If you have extra funds at the time of purchase, you can pay for mortgage points. This means, you pay a percentage of the loan upfront in exchange for a lower interest rate — and a slightly lower monthly payment. 

Work on your credit score. If time is on your side, improve your credit by paying bills on time, lowering your credit utilization (using under 30% of your credit line), and addressing credit report errors. A higher credit score will reduce your mortgage.

Shop around.  Always, always, always shop around for your mortgage. Same thing goes for homeowner's insurance. Rates and premiums vary widely, so talking with multiple lenders and carriers will ensure you have the best price on both.

Source: CBS News

 

 

November Home Maintenance Checklist

  • Remove clutter and excess items from your office and donate or dispose.

  • Service your heating system and clean, or replace, HVAC filters.

  • Seal cracks on windows and doors, and turn on humidifiers.

  • Schedule a chimney sweep and inspect your fire extinguishers.

  • Reverse your ceiling fans.

 

 

Have questions about real estate?DSC_2031-Edit-1

Whether you're interested in purchasing your first home, moving up, downsizing, or investing, my team and I are here to be a resource to you.

Let's find you a new home. And it all starts here. Tell us a bit about your situation – buying, selling, and so forth – and one of our team members will be back in touch to discuss the details directly.
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