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Another Great Closing at Mid-Island Mortgage: Mortgage loan originator Kevin Blas (right) customized the most affordable mortgage possible to allow the Espinal brothers (center) to purchase their first home in Copiague, NY. Also playing a critical role in the successful transaction was the brothers’ realtor, Eliot Duran (left) of Coldwell Banker Easton Properties in North Babylon, NY. #midislandmortgage#realizingthedream#homeownership
Credit is one of the important factors when determining the approval for loans and the interest rates. I recommend if you are trying to purchase within the next year or 2, to start working on correcting items on your credit now. My preferred Lenders can help guide you through the process, to make sure you are correcting the right items on your report that will determine you getting qualified . Give me a call for guidance on getting started. Call or email me today 561-306-0291 or firstname.lastname@example.org------------------------------------------#credit#agents#badcredit#homeownership#buy#sale#mortgagebrokers#lenders#agents#levelup#realtors -------------------------Tamillia McCormick is affiliated with United Realty Group
SELLING: Reports Cite Increases in Home Sales
Despite a tepid summer for the housing market, two reports suggest home sales are on the uptick.
Redfin, Seattle, reported home sales rose by 4.1% in July as more housing inventory came on line (it also reported home price rose by 5.3% annually in July, continuing a trend of moderate growth). And RE/MAX, Denver, said July home sales rose by 1.8% year-over-year, despite record-high home prices.
Redfin said U.S. home-sale prices increased to a median of $307,400 in July; it said the price growth rate fell for the fifth consecutive months and has not been this low since September 2016. The number of homes for sale in July fell by 5.4% year over year, marking the third month of supply declines at or near 5 percent, following 19 months of inventory declines of over 7 percent.
RE/MAX reported a median sales price of $250,575 in July, up 4.4% from a year ago and represents the third-highest price in report history, topped only by this past May and June. Months' supply of inventory was at 2.9, the smallest total ever recorded for July. Forty-two of 54 metro areas reported a year-over-year drop in inventory. Days on market dropped to 41--four days less than a year ago and one day under the previous nine-year low set in June.
Redfin said homes sold in July went under contract in a median 35 days, three days faster than last year and one day slower than in June. However, it noted while homes are still selling near a record-fast pace, there are some signs competition is waning. For the first time since March 2015, the share of homes that sold above asking price declined year over year from 26.5 in July 2017 to 26.2 percent last month. Twenty-eight percent of homes on the market in July had a price drop, the largest share on record since Redfin began tracking this metric in 2009, and a 3.2 percentage-point increase over last July. Redfin said the share of homes with price drops typically peaks each year in July or August.
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The bedrock of a great landlord-tenant relationship is a fair lease agreement. Unfortunately, one-sided contracts—in which the landlord gets the upper hand—can happen. That makes sense; after all, landlords are usually well versed in the language used throughout standard lease agreements, at least compared to the average renter.
Buying a house is a big step, and in the heat of a seller’s market, it takes extra patience and perseverance. We can help you through the process so that it becomes a simpler and and smoother transition!
Record-low inventory of homes for sale is forcing some homebuyers to build their own homes, but they still need think about where they will build. Buzzfeed recently tested ordinary people on their real estate knowledge with some surprising results.
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