CNBC reports “The average rate on the 30-year fixed mortgage fell to the lowest level since October this week, at 3.69%, according to Mortgage News Daily. That has an already competitive housing market heating up even more. Open houses, which are usually pretty rare the first week in January, were plentiful in markets across the nation this year, as buyers hope to get in before the competition gets even worse.” Mortgage rates fall further, as buyers rush into the first open houses of 2020. Spring may not be the hottest real estate season in 2020. If you want to move, you may want to do it now!
“With unemployment hovering at a 50-year low and interest rates well below historical norms, the real estate industry is being dragged down by scarcity in housing stock, especially at lower price ranges. Not enough homes are being built, and homeowners are staying put longer, creating a bottleneck.” Experts predict what the 2020 housing market will bring (Washington Post). Read the article to see what the tech big wigs in real estate are saying.
3. NOT TO BE SHORT…
The National Association of Realtors just published this brief public service announcement… Why You Shouldn’t Abbreviate 2020.
4. PROTECTED CLASSES
“Real estate agents often become the go-to for all the advice their clients need during the house-hunting process. Some become more like therapists than salespeople, with buyers especially, but renters too, needing immense support through the understandably stressful time.” Forbes reminds us all of the Five Questions Your Real Estate Agent Legally Cannot Answer.
5. A REPUTATION FOR EXAGGERATION
Who doesn’t love a great story? This New Your Times story just happens to be about Faith Hope Consolo. She Was a Star of New York Real Estate, but Her Life Story Was a Lie and she had the entire press fooled. As I read this wonderfully written story I couldn’t help but think what a great movie it would make.