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Good news from the mortgage industry
I received some encouraging news the other day. Interest rates are softening up. According to Realtor.com, rates eased down making prices go up. This seems to be a pattern that interest rates and home prices go inversely to each other. According to Adam Black of First commercial Bank mortgage ” The mortgage rate market has…
Read MoreNew Smart Buy Down payment assistance program
This is big news for any qualified buyer who can buy a home, but just don’t have the downpayment. It’s called the Smartbuy DPA Program offered by Trustmark Mortgage. I spoke with Cheryl Birch, a Mortgage Originator with Trustmark, and got the following information: ( More information with be forthcoming, as this is a brand…
Read MoreOur Market is changing
At least in our area of Central Mississippi. Some people say that is “Normalizing”. According to my experience, this is not true. It is true, however, that the bidding wars are slowing down. More people are able to buy a home at list price, assuming that they are prequalified with a dependable bank or mortgage…
Read MoreWhat’s Happening to our market?
Well, nobody knows for sure, but I read some predictions from the national association of Realtors. They believe that the housing shortage will be here for awhile. Now, according to them, it will ease somewhat due to the fact that rising interest rates will put some buyers on the sidelines. However, we’re short several million…
Read MoreHome buying in a crazy market
In this market, it’s important for buyers to trust their Realtor to guide them to their best offer for their dream home. Too low and you don’t get the house, too high and you’re upside down. I’ve heard the comment before, “I know what it will appraise for” The truth is nobody knows exactly what…
Read MoreHome buyer bidding wars and how to get around them
I sold a great solid home yesterday to some wonderful buyers. They had lost 2 homes before due to bidding wars. This is something that every buyer today fears and hates. People are going so far as to take out the appraisal and/or the inspection contingencies to get their offer accepted (Not advisable). The situation…
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