Anthony Cagle - Keller Williams Realtor

12/07/2022

Surprises can be fun, but buying a home without a home inspection isn’t one of them. I recommend home inspections when purchasing property. Now that the market is cooling, this isn’t a contingency buyers are expected to waive.

Added: There are *very few* circumstances where foregoing an inspection is okay. If you're filthy rich and buying way under budget, for example, or, similarly, if the price including potential renovation costs for things that can't be picked up during a showing/final walkthrough is budgeted for.

11/01/2022

Be prepared!

To fight inflation, the Fed is expected to enact its sixth interest rate increase of the year at its policy meeting this week.

10/28/2022

Not the best news: https://www.mpamag.com/us/mortgage-industry/industry-trends/interest-rates-top-7-industry-reacts/425623

However, if you can afford it (and perhaps plan on refinancing in coming years) it's a good time to buy.

Highest level for 30-year fixed-rate mortgages since 2002

10/26/2022

https://www.yahoo.com/video/still-early-innings-housing-market-083905781.html

Remember, local markets will differ and this isn't (everywhere) a repeat of 2008/9. We're already 6 months into a recession and inflation still isn't under any control, so rates probably won't be coming down significantly anytime soon.

In 2023, Wells Fargo predicts that national home prices will sink 5.5%.

10/12/2022

Take note: Be very, very careful when you're in the process of closing and contracts and wire transfers are flying around.

Criminals have found a novel way to intercept wire transfers for down payments. Can a small team of Secret Service agents prevent your worst real estate nightmare?

10/08/2022

Heh.

One New Hampshire real estate listing features an ominous guest just in time for spooky season.

09/28/2022

https://mcusercontent.com/365f55ad0d2219e45845909d5/images/d3371c63-d2be-4326-7506-1227a1e85a94.jpg

Also, price/sq ft is trending down in the greater Phoenix area, but at least still up year-over-year.

Additionally, iBuyers (OpenDoor, etc.) are selling houses at a loss most of the time, so there are deals to be had.

09/28/2022

A little dated (this is for July) but shows the deceleration in price appreciation, year over year.

/PRNewswire/ -- S&P Dow Jones Indices (S&P DJI) today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home...

09/21/2022

Not unexpected.

https://www.foxbusiness.com/economy/fed-meeting-interest-rate-hike-jerome-powell

Plus!

https://www.cnbc.com/2022/09/21/existing-home-sales-fall-in-august-and-prices-soften-significantly.html

Sales of previously owned homes fell 0.4% in August from July to a seasonally adjusted annualized rate of 4.80 million units, according to the National Association of Realtors.

09/21/2022

This, it seems to me, in fairly accurate, although some depends on location.

09/19/2022

Phoenix is on the list (57%) but it doesn't say if this is includes the metro area or not (I presume it does). IMO, a good portion of the run-up in prices was due to an influx of people actually relocating from elsewhere, rather than the widespread speculation we saw the last time (2008/9). Thus far, we seem to be just tilting towards a balanced market.

As the housing slump deepens, national housing experts and economists are watching home prices dip across the country — with some regions dropping faster than others.