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Mortgage rates surge on inflation expectations

Mortgage rates increase

Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing that the 30-year fixed rate mortgage (FRM) averaged 5.78 percent.

“Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest one-week increase in our survey since 1987,” said Sam Khater, Freddie Mac’s Chief Economist.

“These higher rates are the result of a shift in expectations about inflation and the course of monetary policy. Higher mortgage rates will lead to moderation from the blistering pace of housing activity that we have experienced coming out of the pandemic, ultimately resulting in a more balanced housing market.”
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What’s the housing market like in Green Valley?

What's the housing market like in Green Valley?

Once you’re in the market to buy or sell a home, you’re going to notice every little thing you hear about the housing market.

It could be on the TV, a headline or article online, friends, family, coworkers — everyone has an opinion on how the real estate market is doing. The problem is, most of what you hear is based upon national data, trends, and statistics. Even if it’s “local” insight, it’s often still too broad and general.Continue Reading

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Numbers don’t lie – It’s still a great time to sell

Heading into the end of the year, you might wonder if it’s still a good time to sell your house. Here’s what the latest data from the National Association of Realtors (NAR) says:

Housing supply is lower than last year, and home prices are up nationwide. Meanwhile, the average home is selling fast and receiving several offers. Listing now puts your house in the spotlight, meaning it could sell quickly – and for more than you’d expect.

Numbers don’t lie – It’s still a great time to sell

Feeling motivated? If you’re ready to sell and capitalize on today’s market, let’s connect.

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Retirement may be changing what you need in a home

Retirement may be changing what you need in a home

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom:

“At least 1.7 million more older workers than expected retired due to the pandemic recession.”Continue Reading

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Are home sales about to surge this winter?

Are home sales about to surge this winter?

Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year.

Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off.Continue Reading

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Have you ever seen a housing market like this?

Whether you’re buying or selling – today’s housing market has plenty of good news to go around. Buyers can take advantage of today’s mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale.

Whether you’re buying or selling – today’s housing market has plenty of good news to go around.

If this sounds like good news to you, let’s connect today so you can capitalize on the unique opportunity you have in today’s market.

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5 tips for making your best offer

5 tips for making your best offer

In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Following are five things to keep in mind when it’s time to make an offer.Continue Reading

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What’s the difference between an Appraisal and an Inspection?

WHAT’S THE DIFFERENCE BETWEEN AN APPRAISAL AND A HOME INSPECTION?

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy.

In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.Continue Reading

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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ