Mortgage Rates Fall to 2.88% This Week

Dated: July 18 2021

Views: 102

 

Sunday at 2pm on Youtube Live “Answering Buyer’s Biggest Concerns”

Watch Live at 2pm at https://www.youtube.com/channel/UCE-LIrX743JkjfaZyBWCHRA

 

If you missed last week’s Youtube Live you can check that out here:

             

View the Video Here: https://youtu.be/g4EAch-lJVM           

 

Stay Up-To-Date on all the Housing Market Happenings by visiting my Facebook Page at www.facebook.com/shopkentuckyhomes or visit www.shopkentuckyhomes.com


This Week’s Highlights:

·         Looking for Investment Properties? Click Here: https://tinyurl.com/3mcmm65h

·         Looking for Homes with Pools? Click Here: https://myre.io/0HpDFCNj5add

·         Looking for Homes Listed Under $250,000? Click Here: https://myre.io/0cDLdFkXxc7r

·         Want a Home Valuation? Click Here: https://davidhittle.unitedkentuckymls.com/sell.php    

·         Check out my Latest Buyer’s Guide! Click Here: https://bit.ly/3zh4rMG

·         Check out my Latest Seller’s Guide! Click Here: https://bit.ly/2SvEWGX

·         8 Luxury Amenities that Luxury Buyer’s Want! Article Here: https://bit.ly/36IB0Gj

·         4 Major Incentives to Sell this Summer. (Article Below)

·         Mortgage Rate Forecast Q3: Economic Optimism will push Rates up in 2021. Article Here: https://www.roomvu.com/nws/8R3Jr1d5EXtgFJX

·         Consumers Still Overestimate Down Payment Requirements Article Here: https://bit.ly/3xNTUaL  

·         Why This Isn’t Your Typical Summer Housing Market (Article Below)  

·         Pros and Cons of a Reverse Mortgage Article Here: https://bit.ly/3iguego   

·         Fewest Homes in Forbearance Since Pandemic Began. Article Here: https://bit.ly/3Be5DBr  

·         Housing Supply is Rising. What does this mean for you? (Article Below)  

·         Say No to FSBO Video Here: https://bit.ly/3wOuZ5q  

·         Inventory Shortage Further Delays Millennial Ownership Article Here: https://bit.ly/3z2kSM2  

·         Diving Deep into Today’s Biggest Buyer Concerns (Article Below)  

·         25 of the Best Blue Paint Color Options for Kitchens Article Here: https://bit.ly/3hOXRXi  

·         Tackling Buyer Remorse Article Here: https://bit.ly/2TjhBIV  

·         Interest in Urban Homes Grows Again Article Here: https://bit.ly/3Bgy7ut  

·         Experts are Optimistic About the Summer Housing Market (Video Below)

·         Fewer Offers Faced Competition in June Article Here:  https://bit.ly/3Bisps4  

·         Lumber’s Fall Video Here: https://bit.ly/3zctDTS

·         Top 10 Biggest Lawn Care Mistakes You Are Probably Making Article Here: https://bit.ly/2VXe6sH  

·         Experts Agree: Options Are Improving for Buyer’s (Article Below)

·         Mortgage Rates Fall Again This Week (See Below)


My Buyer’s Are Buying Homes Below List Price!


 

4 Major Incentives To Sell This Summer

While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move.

>>Your House Will Likely Sell Quickly

According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly. The report notes homes are selling in an average of just 17 days.

>>Buyers Are Willing To Compete for Your House

In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers are competitive ones.

 

Read the Full Article Here: https://bit.ly/3wQI12t   

 

All of the reasons that we have seen for the past few years to sell your house still exist in today’s market. Average Days on Market is 17 days, Buyer’s making an average of 5 offers on your home, supply is extremely low so buyer’s don’t have much to see other than your home, being a great time to upgrade for the same reasons that buyer’s have, low interest rates and more inventory in the “luxury” market. These are just some great reasons to sell your house, if you have any questions about possibly selling your house or buying a new home contact David Hittle with United Real Estate Louisville at 502-489-1135.


2407 Bank St Louisville, KY 40212

Anyone looking for an investment property? I have one on the market for less than $50,000.00 (UN-HEARD OF!!)

Check out my property page on this home, it will need some work, but could be a great investment property to start your portfolio!

 

Get More Information on this home here: https://myre.io/0kztna5HSUkn

 



Why This Isn’t Your Typical Summer Housing Market

Here’s how this summer is stacking up against the norm and what it means for you.

>>Inventory is increasing.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), inventory levels have been rising since February of this year.

If you’re looking to buy, some relief is on the way in the form of more homes coming to the market. Just remember, we still have less inventory than the norm, so be patient in your search.

If you’re thinking of selling, now is the time. Work with your agent to list your house before it has more competition on the market.

>>Time on the market is still shorter than normal.

If you’re looking to buy, this means you need to be prepared to move fast. Brace for a quick pace and rely on your agent to stay in-the-know on the available homes in your area.

 

Read the Full Article Here: https://bit.ly/3hMTWKe        

 

As inventory increases in our area, homebuyer’s will have more homes to look at. For home seller’s this is added competition which may dilute the number of buyer’s that see their homes. On the other hand, more inventory may also push the values of homes up, I have seen this personally myself this week. If you are wanting to sell your house, inventory is on the rise, we should get your home listed before homebuyer’s can see more homes than just yours. If you are thinking about selling your house, David Hittle with United Real Estate Louisville is the one to call give him a call today at 502-489-1135.


Housing Supply Is Rising. What Does That Mean for You?

While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. We’re still not close to a balanced market. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thing: what does that mean for me?

>>Buyers: More Options Are Arriving, so It’s Time To Act

If you’re a buyer, more inventory coming to market is a welcome sight. More supply means more options and less competition, which could mean fewer bidding wars.

If you’re having trouble finding your next home, this news should give you the hope and motivation to keep your buying process moving forward. Experts project mortgage rates will begin increasing, which will make purchasing a home less affordable as time goes on.

 

Read the Full Article Here: https://bit.ly/3ilCoEm             

 

For buyer’s rising inventory will mean more selection, more options, more homes to choose from. For seller’s rising inventory means more competition, less eyes on their homes, and possibly lower values depending on the market around your home. With interest rates staying low… for now… this is great for both buyer’s and seller’s because it allows the buyer to buy and the seller to sell and buy and still save money. Now is the time to make your moves, don’t get caught on the fence. If you are going to move, now is the time to “get a move on.” If you are ready to “get a move on,” call David Hittle at United Real Estate Louisville at 502-489-1135. 


 

Diving Deep into Today’s Biggest Buyer Concerns

          

Last week, Fannie Mae released their Home Purchase Sentiment Index (HPSI). Though the survey showed 77% of respondents believe it’s a “good time to sell,” it also confirms what many are sensing: an increasing number of Americans believe it’s a “bad time to buy” a home. The percentage of those surveyed saying it’s a “bad time to buy” hit 64%, up from 56% last month and 38% last July.

The latest HPSI explains, “It’s likely that affordability concerns are more greatly affecting those who aspire to be first-time homeowners than other consumer segments.”

Let’s look closely at the market conditions that impact home affordability. A mortgage payment is determined by the price of the home and the mortgage rate on the loan used to purchase it. Lately, monthly mortgage payments have gone up for buyers due to rising interest rates.

 

Read the Full Article Here: https://bit.ly/2UTf3Sr       

As the year goes on the prediction continues to be that mortgage interest rates will rise. The predicted average for mortgage interest rates for 2021 was projected to be 3.30%, and we have fell quite short of that. If mortgage interest rates don’t go for a serious ride anytime soon, I would predict rates averaging around 3%, if they take a wild ride than maybe 3.10 or 3.15% depending on the ride. Even these tiny fluctuations change the price of your mortgage and will cost you more money over the long-haul. If you are wanting to buy a home, now is a great time, save some money for your down payment and closing costs and then call David Hittle with United Real Estate Louisville so together we can get you rolling towards Homeownership 502-489-1135.


 

2407 Bank St Louisville, KY 40212

I would love to show you my listing at 2407 Bank St Louisville, KY.

(YouTube Video: https://youtube.corelistingmachine.com/youtube/Z9JUEG)

Get More Information on this home here: https://tour.corelistingmachine.com/tour/titan/?id=6817171&reg=true&_seoAddress=2407-Bank-St-Louisville-KY-1584156


 

2301 Bickel Road Louisville, KY 40206 (ACTIVE - BACK ON THE MARKET)

I would love to show you my listing at 2301 Bickel Road Louisville, KY.

 

Get More Information on this home here: https://tour.corelistingmachine.com/tour/titan/?id=6495870&reg=true&_seoAddress=2301-Bickel-Rd-Louisville-KY-1567539

 

If you would like more information on this home or to schedule a showing please call David Hittle at 502-489-1135


More sellers are beginning to enter the housing market. More homes for sale means more choices, less competition, and fewer bidding wars for buyers. If you’ve been holding out hope in the search for your dream home, maybe this is your chance. Email me today so we can set you up for a homebuying win this summer. shopkentuckyhomes@yahoo.com


 

Experts are Optimistic About the Summer Housing Market [VIDEO]

https://fb.watch/6Q0up_D6gm/   

The housing market is changing. Let's connect so you don't miss out on today's opportunities David Hittle United Real Estate Louisville 502-489-1135.


 

Experts Agree: Options Are Improving for Buyers [INFOGRAPHIC]

Buyers hoping for more homes to choose from may be in luck as housing inventory begins to rise. Many experts agree – new sellers listing their homes is great news for buyers and the overall market. Although the supply increases are modest, more homes means more options for buyers. A rise in inventory may also help slow the price gains we’ve seen recently and could be a sign of good things to come. If you’re searching for a home, rising inventory is welcome news. Email me today to discuss new listings in our area, shopkentuckyhomes@yahoo.com.


Mortgage Rates Fall Again This Week

Mortgage interest rates fell to the lowest rate in months of 2.88% which is great news because home prices have now surged to a new record median price of $350,300.

The low interest rates... for now... are keeping housing affordable, however at any time these rates could start to rise and with home prices rising as well, it will spell a downturn in homebuyer's being able to afford a home.

If you are looking to sell a home, now is a great time there is plenty of competition for your home due in part to these mortgage interest rates.

If you are looking to buy a home, now is the time to get preapproved, your rate locked in, and find that home now, because rising rates will cost you over the long-term.

Either Buying or Selling, David Hittle with United Real Estate Louisville has the experience and knowledge to help you navigate this market and to make the right decisions to make your Real Estate Dreams come true! Give him a call today at 502-489-1135.


 

Sunday at 2pm on Youtube Live “Answering Buyer’s Biggest Concerns”

Watch Live at 2pm at https://www.youtube.com/channel/UCE-LIrX743JkjfaZyBWCHRA

 

If you missed last week’s Youtube Live you can check that out here:

             

View the Video Here: https://youtu.be/g4EAch-lJVM           

 

Stay Up-To-Date on all the Housing Market Happenings by visiting my Facebook Page at www.facebook.com/shopkentuckyhomes or visit www.shopkentuckyhomes.com


 

Message from David Hittle, Realtor United Real Estate Louisville:

It continues to be a great time to sell a home. While inventory levels are starting to rise slightly, seller’s are still seeing on average 5 offers made on their homes. Increased inventory will mean higher competition amongst home seller’s and may mean less eyes on a seller’s home.

 

Mortgage Rates have been predicted to be on the increase this year. The experts predicted 3.3% would be the average for this year. To this date, 3.3% has not been hit this year at all. My prediction would be if there isn’t a wild ride coming up that interest rates may average around 3% this year, possibly between 3.10% and 3.15% by years end.

 

The myth of the 20% down payment is still out there. If you are preapproved on an FHA loan your minimum down payment is 3.5%. If you are preapproved on a Conventional Loan your down payment is as low as 3% and as high as 5%. If you are an eligible veteran and approved for a VA loan your down payment is 0%, and depending on your particular case you may qualify for a $0.00 VA funding fee as well, if you have a funding fee it typically is 1 to 1.5% of the final purchase price, still less than the ordinary down payments. If you are purchasing a USDA approved home, and are approved for an USDA loan your down payment is also 0%. There are also programs available in all 50 States for Down Payment Assistance, which you may qualify for as well.

 

As this summer housing market heats up, stay tuned with David Hittle – United Real Estate Louisville to keep you up to date on all the happenings.   

 

If you or someone you know needs a Realtor – I would be honored to help just call me 502-489-1135

 

If you are interested in purchasing a home, I currently have 2 listings on the market, with what I pray will be many more to come! You can see that listings below, however if it does not fit your needs I hope you will contact me so I can get you a personalized list of homes that fit your needs!

 

2301 Bickel Road, Louisville, KY (Active – Back on the Market) - https://davidhittle.unitedkentuckymls.com/property/94-1567539-2301-Bickel-Rd-Louisville-KY-40206

This home is near all the amenities you could ever ask for. From Food, to Sports, to Entertainment to the Downtown scene; this home is near it all and would make for a great rental home or starter home for someone looking to be near the fun of our city!

 

2407 Bank Street, Louisville, KY - https://davidhittle.unitedkentuckymls.com/property/94-1584156-2407%20Bank%20St-KY-40212

This home is perfect for an investor looking to add to their portfolio. The home is a shotgun style, with a camelback featuring 3 Bedrooms, and 1 Full Bathroom. Other homes in the area that are being remodeled are selling for great values. If you are an investor and need a new project this one is right for you.

 

Please share these listings with your friends and family, and if someone is interested please send them my way or have them contact me at 502-489-1135 (Call/Text).

 

Looking to Sell your House! I Want to Interview for the Job! I do not pressure my clients, I’m very patient and I walk them through what all I will do! I have a 29-Point Marketing Plan for Selling Your House! If You want to Sell, I will help get it sold for you! Give me a Call Today: 502-489-1135 Get a Home Valuation Here: https://davidhittle.unitedkentuckymls.com/sell.php or a Free Seller’s Guide Here: https://www.simplifyingthemarket.com/en/sellers/?a=489398-03f53f0576489362a12f29c9abd81b9a

 

Looking to Buy a Home! I Want to Interview for the Job! You Do Not Pay Me! I’m Paid by the Seller’s Upon Closing of the Deal! I’m very patient and I will walk with you through the entire process! If You want to Buy a Home, I will help you get the best deal possible! Give me a Call: 502-489-1135 Get my Free Buyer’s Guide Here: https://www.simplifyingthemarket.com/en/buyers/?a=489398-03f53f0576489362a12f29c9abd81b9a

 

Looking to Buy a Brand New Home? I would love to set up an appointment with my favorite builder for you! Why spend the money on an older home, with its issues, and its problems when you could buy a brand new, customizable home, and receive a 1 year home warranty, a 7 year structural warranty, and the peace of mind, knowing that when you sell that home, it is a 2020 built home! Give me a Call Today: 502-489-1135

 

This week the Mortgage Interest Rates as published by Freddie Mac fell to 2.88%, down 0.02 percentage points from last week’s 2.90%, rates are getting super close to last year’s 3.03% though. 2.65% is the lowest ever seen since recording started back in 1971 and was obtained the first week of January 2021.

 

This week in the Louisville and Lexington Kentucky area there were 3,307 (+/- 0) homes & condos for sale, with the average days on market sitting at 20.80 (-0.1 Days). We are now at 1.01 (-0.02 Months) months of inventory, making this a “Seller’s Market” which is under the six months needed to have a “Balanced Market”. Builder’s are accelerating their building of brand new homes, but with lumber prices on the rise, it is making it harder for smaller builder’s to be able to afford. Bigger builder’s will have to come to the rescue, if we are ever to catch up with home buyer demand.

 

The Average Sale Price for May 2021 was $272,979 (Up $15,349 from April 2021), with Median Selling Price being $230,100 (Up $6,600 from April 2021). These numbers are up from last year’s $244,112 and $210,000 respectively. Year over year both average sale price and median selling price were up vs. last year.

 

If you are in need of a Real Estate Professional someone with the heart of a teacher, rather than a heart of a salesperson I’m the Realtor for you!

 

If you ever have any questions at all, please feel free to contact me, I’d love to hear from you and hear about your plans for the future!

 

You can email me at shopkentuckyhomes@yahoo.com
You can text me or call me at 502-489-1135
If you would please visit and LIKE my Facebook Page at 
https://www.facebook.com/shopkentuckyhomes/ We Have OVER 390 LIKES, 400+ FOLLOWERS!
I would also encourage you to visit my newly customized website at 
www.shopkentuckyhomes.com
Please also visit our more specific websites purchased and maintained to make it easier for you to find what you are looking for!
For Selling a Home: www.sellkentuckyhomes.com
For Buying a Home:
www.buykentuckyhomes.com
For Buying Louisville Homes:
www.shoplouisvillehomes.com    

 

Thank you once again, for allowing me to assist you on your homeownership journeys.

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David Hittle

Hello, and welcome to my website - my name is David Hittle and I'm a VA Certified Realtor and NAR e-PRO with United Real Estate Louisville. The ultimate goal for a Realtor is to provide the client wit....

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