Raleigh Triangle Real Estate Blog

Buying or Selling in 2018? 5 Reasons to Resolve to Hire a Pro

Buying or Selling in 2018? 5 Reasons to Resolve to Hire a Pro [INFOGRAPHIC] | MyKCM

Some Highlights:

  • As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team!
  • There are many benefits to using a local professional!
  • Pick a professional who knows your local market and can help you achieve your dreams!
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Another Good Day For Mortgage Rates 12-28-2017

By James Brooks

The bond market is down 1/32 (2.43%), but we still should see an improvement in Raleigh area mortgage rates of approximately .125 of a discount point due to strength yesterday that picked up momentum as the day progressed.

Yesterday’s 5-year Treasury Note auction did not go poorly but hardly can be considered strong. Most of the benchmarks we use to gauge investor demand showed an average level of interest in the securities. It is safe to say that this auction was not the cause of yesterday’s afternoon improvement in bond prices and mortgage rates. Bonds had already improved from morning levels before the results were posted.

Last week’s unemployment figures were posted at 8:30 AM ET this morning, revealing 245,000 new claims for benefits. This matched the previous week’s total but was higher than the 238,000 initial filings that was forecasted. Since rising claims indicates employment sector weakness, the higher than thought...

There’s More to a Bubble Than Rising Home Prices

There’s More to a Bubble Than Rising Home Prices

There's More to a Bubble Than Rising Home Prices | MyKCM

What truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened.

“A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key for detecting a bubble is speculation…Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the ‘bubble’...

Top 4 REAL Reasons We Buy a Home

Top 4 REAL Reasons We Buy a Home | Simplifying The Market

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers stability to start and raise a family

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.

...

Good Day For Mortgage Rates 12-27-2017

By James Brooks

The bond market is up 8/32 (2.43%), which should improve Raleigh area mortgage rates by approximately .125 of a discount point.

December?s Consumer Confidence Index (CCI) was posted at 10:00 AM ET this morning. The Conference Board, who is a New York-based business research group and not a governmental agency, announced a reading of 122.1, falling well short of the 128.0 that was expected. This was also a sizable decline from November?s revised 128.6, meaning consumers were much less optimistic about their financial and employment situations than they were last month. That makes the data good news for bonds and mortgage rates because waning confidence usually translates into softer levels of consumer spending, restricting economic growth.

We also have the first of this week?s two Treasury auctions that may influence mortgage rates taking place today. 5-year Notes will be sold today while 7-year Notes go tomorrow. These sales have the potential to slightly affect...

Top 5 Reasons You Shouldn’t FSBO

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

Recent studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

  • 49% on the internet
  • 31% from a Real Estate Agent
  • 7% from a yard sign...

After Christmas Mortgage Rates Improve 12-26-2017

By James Brooks

The bond market is up 4/32 (2.47%), which may improve Raleigh area mortgage rates slightly from Friday?s rates.

This week?s only relevant monthly economic report comes late tomorrow morning when the Conference Board will post their Consumer Confidence Index (CCI) for December. This is a fairly important release because it measures consumer willingness to spend. If consumers are more confident about their personal financial and employment situations, they are more apt to make a large purchase in the near future. Since consumer spending makes up over two-thirds of the U.S. economy, any related data is watched closely by market participants and can affect mortgage rate direction. Current forecasts are calling for a decline in confidence from November's reading of 129.5. Analysts are expecting Wednesday's release to show a reading of 128.0, meaning consumers felt less optimistic about their own financial situation than they did in November. The lower the reading, the better the...

Existing Home Sales Reach Highest Annual Pace in 11 Years

Existing Home Sales Reach Highest Annual Pace in 11 Years [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006.
  • The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply.
  • NAR’s Chief Economist Lawrence Yun had this to say: “Faster economic growth in recent quarters, the booming stock market and continuous job gains are fueling substantial demand for buying a home as 2017 comes to an end.”
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Again No Change In Today's Mortgage Rate 12-22-2017

By James Brooks

The bond market is again unchanged, which should keep Raleigh area mortgage rates unchanged.

Today?s holiday-shortened session has four relevant economic reports for the markets to digest. First on the schedule was November's Durable Goods Orders at 8:30 AM ET. The Commerce Department announced that new orders for big-ticket products rose 1.3% last month when analysts were expecting to see 2.1%. A secondary reading that tracks orders excluding more costly and volatile transportation orders, such as new airplanes, fell 0.1%. That reading was expected to rise 0.4%. This data is known to be quite volatile, so the variance between the actual and forecasted numbers isn?t as important as it would be with other reports. Still, the weaker than predicted readings are favorable news for bonds and mortgage rates because they indicate that manufacturing activity was not as strong as thought.

Also at 8:30 AM was the release of November's Personal Income and Outlays data. The Commerce...