Len and Leslie Marma | Marshfield Real Estate, Scituate Real Estate, Pembroke Real Estate


Fall below 4% mark once again

As the market becomes less certain about the current state of the economy, mortgage rates inched lower, once again falling below the 4% mark.

“Continued economic uncertainty and weak inflation data pushed rates lower this week,” Freddie Mac Chief Economist Sean Becketti said. “The 10-year Treasury yield fell five basis points this week.”

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7-20-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage decreased to 3.96% for the week ending July 20, 2017. This is down from last week when it averaged 4.03%, but still up from last year’s 3.45%.

The 15-year FRM also decreased, falling to 3.23% from last week’s 3.29%. The 15-year mortgage was also up from last year’s level of 2.75%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage also decreased, falling seven basis points from last week’s 3.28% to 3.21% this week. This is up from 2.78% last year.

“The 30-year mortgage rate moved with Treasury yields, dropping seven basis points to 3.96%,” Becketti said.


KCM Crew, July 22nd, 2017

Singles Are Falling for Their Dream Home First [INFOGRAPHIC] | MyKCM

Some Highlights:

  • According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year.
  • The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%.
  • The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men).

KCM Crew, July 21st, 2017

84% of Americans Believe Buying a Home is a Good Financial Decision | MyKCM

According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision:

  1. Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord
  2. Homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire
  3. Homeownership is an investment opportunity that builds long-term wealth and increases net worth
  4. Homeownership means a stable and predictable monthly mortgage payment
  5. Homeownership allows for various deductions on federal, state, and local income taxes

The survey also revealed that the majority of Americans strongly agree that homeownership helps create safe, secure, and stable environments.

Bottom Line

Homeownership has always been and still is a crucial part of the American Dream.


Concerns grow dues to higher prices

House under construction

Builder confidence fell to its lowest level since late last year as the construction industry cited major concerns about rising material prices.

Builder confidence in the market for newly-built single-family homes fell two points in July to 64 from the downwardly revised June reading, according to the National Association of Builders and Wells Fargo Housing Market Index. This represents the lowest reading since November 2016.

“Our members are telling us they are growing increasingly concerned over rising material prices, particularly lumber,” NAHB Chairman Granger MacDonald said. “This is hurting housing affordability even as consumer interest in the new-home market remains strong.”

And these concerns aren't without warrant. The Commerce Department recently proposed yet another Candadian lumber tarrif increase of nearly 30% which could have drastic affects on homebuilders and homebuyers alike. Read more about that here

Derived from a monthly survey that NAHB has been conducting for 30 years, the index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as good, fair or poor.

The survey also asks builders to rate traffic of prospective buyers as high to very high, average or low to very low. Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates most homebuilders view conditions as good rather than poor.

All three of the HMI components fell in July, however they are all still historically high. The component measuring current sales conditions dropped two points to 70 while the index showing sales expectations in the next six months decreased by two points to 73. The component measuring buyer traffic slipped just one point to 48 in July.

“The HMI measure of current sales conditions has been at 70 or higher for eight straight months, indicating strong demand for new homes,” NAHB Chief Economist Robert Dietz said. “However, builders will need to manage some increasing supply-side costs to keep home prices competitive.”


Getting your home ready to sell entails quite a lot. Staging, taking photos, stocking the toiletries, and--in the case of an open house--entertaining guests. You want the visitors to your home to feel welcome and like they could live there someday.

To achieve this it takes planning and an eye for what really “works” in your home. To do this you’ll have to let go of everything you’ve made your home into and turn it into a blank slate where others can imagine it fitting their personal taste.

In this article, we’re going to give you some tips on preparing your home for an open house or showing to leave the best possible impression on your visitors.

Remove yourself from the picture

It might be sad to take down your family photos and personal effects, but imagine yourself in a visitor’s shoes. When you enter a home you’re thinking of buying, you don’t want to be distracted by what the previous family did with the home. Rather, you want to look forward and imagine your own family making a life there.

Declutter

Even the most minimalistic of homeowners tend to accumulate a lot of stuff over the years. However, walking into a home filled with items is distracting from the features of the home. You want to draw people’s eyes toward the best characteristics of your home--whether that’s spaciousness or architectural features.

We suggest packing your belongings by room and renting out a storage facility while you wait to move into your new place.

Stage appropriately

Working with someone to stage your home is a guaranteed way to make sure your house looks welcoming for your guests and photos. However, if you plan on doing the staging yourself take a look at some similarly styled homes online to find out what looks good in their photos. When we furnish our homes, we do it based on our personal taste, comfort, and utility. Staged homes are about aesthetics and atmosphere.

Once you’ve finished staging, it’s time to clean up after yourself. Wipe down surfaces, polish wood, and clean the windows.

Don’t neglect the exterior

The outside of your home is as important as the inside. It will be visitor’s first impression when they arrive at your driveway. To prepare, make sure your siding and windows are clear of dirt, the lawn mowed, the gutters cleaned, and the doors freshly painted, if necessary. Sweep the driveway and remove any yard tools from sight.

Welcoming guests

Your real estate agent knows how to run an effective open house. However, here are a few key things to remember on the day your guests will arrive.

First, light a candle and use air fresheners where necessary. A neutral smell is the best option, but an air freshener is better than a bad one if there are parts of your home that are prone to bad smells.

Next, make sure the bathrooms are stocked with toilet paper, tissues, and clean towels. If yours are getting old, it could be a good time to replace hand towels altogether.

Finally, welcome your guests with a new welcome mat at the front door to make a great first impression.




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