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Your REALinsight on Real Estate and Housing

 
// Rate Update
 
 

15 and 30 Year Home Loan Rates

The first quarter of 2017 ushered in new administration in Washington, which pushed the major Stock indices to record high levels. Promises of decreased regulation and lower taxes sent investors scurrying to scoop up Stocks in all major sectors of the economy. Record Stock prices pressured Mortgage Bonds and led home loan rates to highs not seen since April 2014. By the end of the quarter, some of the luster wore off in the equity markets, which helped both Mortgage Bonds and home loan rates regain some ground. Home Loan Rates still remain at historically attractive levels.

 
  Rate Update
15 and 30 Year Home Loan Rates Market Watch
Construction Junction, What’s Your Function?

Tech Corner
Apps for Busy Agents

The Tip Sheet
The Right Pro for the Job

The List
Now Presenting!

 
Thank You!
Your referrals are our greatest compliments. We appreciate your partnership and the opportunity to provide excellent service to your prospects, clients, family and friends.
     
 
// Market Watch
 
Construction Junction, What’s Your Function?

 



New Home Sales and Housing Starts posted high marks recently, and homebuilder sentiment was positive too.

The Commerce Department reported that sales of new homes in February hit a seven-month high, rising 6.1 percent from January. Sales also were 12.8 percent above February 2016. Housing Starts rose 3 percent from January to February and 6.2 percent from a year prior. Starts on single-family homes rose to a near 10-year high.

Homebuilders are feeling good about the market, the National Association of Home Builders reported. The Housing Market Index, a measure of homebuilder

 

sentiment, jumped six points to the highest level in 12 years!

After starting 2017 at the fastest pace in almost a decade, Existing Home Sales slid 3.7 percent in February according to the National Association of REALTORS®. Total existing housing inventory for sale at the end of February increased from January; however, inventory was 6.4 percent lower than a year ago.

Economic Conditioning

The Fed raised its benchmark Federal Funds Rate 0.25 percent in March as expected. This is the rate at which banks lend money to each other overnight and it is not directly tied to home loan rates. Economic growth, maximum employment and price stability are key factors the Fed weighs in its decisions.

To that end, Gross Domestic Product (GDP), which measures the health of the economy, rose an anemic 1.6 percent for all of 2016, the worst since 2011 and below the 2.6 percent in 2015.

 

On the employment front, job growth in March disappointed, with only 98,000 new jobs added, well below the 180,000 expected. However, the unemployment rate hit a 10-year low.

Inflation, as measured by the Core Personal Consumption Expenditures, was unchanged in February from January and remains just below the Fed‘s target range of 2 percent on a year-over-year basis.

Inflation is an important measure because rising inflation reduces the value of fixed investments like Bonds. Since home loan rates are tied to Mortgage Bonds, home loan rates can improve when Mortgage Bond prices improve. The opposite is also true.

The good news is that home loan rates remain historically attractive for those in the market to buy a home.

Stay tuned for your next quarterly update in July.

 

 

// Tech Corner
 
 

Apps for Busy Agents

Improve your productivity with these apps:

Doodle ends back-and-forth appointment scheduling hassles. It synchronizes your personal and work calendars, then allows others to select a mutually convenient time. Free and premium versions.

Shoeboxed offers simple expense management and receipt scanning to make end-of-year tax reporting easy. Free and premium versions.

Canva helps you create professional looking flyers, posters, social media posts, brochures and more without looking like you’re on a budget. Free and premium versions.

Badger lets you schedule one-off or reoccurring text message reminders. Use it to remind clients of meetings or to set up delayed messages when sending (or receiving) a text may be inconvenient. Free.

Slydial lets you bypass a call and go directly to voicemail on the other end. This allows for a quick message when you’re short on time or would rather not bother clients with a call. Free and premium versions starting at $0.10 per message.

Prices available at time of writing. Check app for device compatibility.

 
// The Tip Sheet
 
 

The Right Pro for the Job

Whether buying a fixer-upper or updating their home to sell, clients may be interested in home renovations. Here is some guidance you can share.

Average cost. Your clients should do their homework to figure out how much the job has cost other renovators recently in the local area. This prevents cost surprises. The True Cost Guide from HomeAdvisor.com is one resource to suggest to your clients.

Apples to apples. It’s smart business for your clients to obtain at least three bids. In order to properly compare bids, each should contain the same information, or the cost comparison will not be accurate. Recommend that your clients outline in writing a specific job scope (including cleanup) and material finishes for bid consistency.

Dig deeper. The lowest bid may seem attractive but can indicate lack of experience or other issues. Encourage clients not to make choices based on price alone. Experienced contractors will usually supply a reference list of previous customers, proof of insurance, business licenses, state contractor’s registration, along with other relevant paperwork. Many will also offer a warranty.

Get benchmarks. Your clients should receive a written agreement that includes a payment schedule and scope of work deadlines that must be met before making further installments.

Sources: ActiveRain, Angie’s List

 
// The List
 
 

Now Presenting!

You can’t win all listings, but you can win more with a cue from these top listing presentation techniques:

Pave the way.

When potential sellers call, asking intake questions about why they want to sell, how they want to price, and their timeframe will provide important details regarding their needs that you can use in your presentation. This will give you an edge over competitors who just try to set an appointment.

Time it by personality.

Don’t take a one-size-fits-all approach or stick too closely to a script. Prepare a thorough presentation, but if your prospects seem busy, short and sweet with a focus on key details tied to their main goals or needs may be best. Bottom line: Stay flexible.

Customize everything.

Display their names and address prominently in your presentation. Produce a few mock-ups of how their home will look in your marketing and social media. Make sure your market data is localized.

Use high-quality images.

Pixilated or distorted images show a lack of professionalism. If you can’t get a high-resolution image of the property or other graphics and charts, avoid using them.

Show off your work. Provide every prospect with a packet containing a customized letter of introduction, a list of your unique abilities and certifications, examples of high-quality marketing collateral you’ve created for others, and several testimonial letters.

Sources: Placester, Zurple

 

 

 

Read from source..>>

 


Questions, Comments or For more information you can contact Christian Penner at: Call/Text: (561) 316-6800 or visit us online at www.ChristianPenner.com

The Christian Penner Mortgage Team, A Branch of 
American Financial Network, Inc

CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821.

Call/Text: (561) 316-6800


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Christian Penner
712 U.S. Highway 1 North #300, North Palm Beach, FL 33408

Call/Text: (561) 316-6800