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Monthly Archives: May 2023

    Laying the Groundwork for the Best Mortgage

    By Mike Parker | May 30, 2023

    With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable.  Some people are waiting for rates to come down and while they are expected to come down some this... Read More

    Handling an Appraisal Gap

    By Mike Parker | May 22, 2023

    An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer.  It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash. Looking at the issue... Read More

    Make Your Home Offer the Most Appealing

    By Mike Parker | May 17, 2023

    Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot.  The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago. “Inventory levels are still at historic lows,... Read More

    Protect Yourself With a New Construction Inspection

    By Mike Parker | May 8, 2023

    Builders of new homes offer or are required to warrant their work for a specified period.  Municipal inspections are generally required during different stages to “ensure the life, health, safety, and welfare of the public” but even if something is missed, the ultimate responsibility for building to code belongs to the builder, even if the... Read More

    Interest Rates May Be the Help You Need

    By Mike Parker | May 1, 2023

    Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up.  Contrarily, when home sales decrease, demand could lessen and prices moderate.  There is opportunity with higher... Read More