The Fred Adams Group: Real estate Update

Real Estate Update

August 2019

Smart Tips to Pay Your Mortgage off Early

New data shows that nearly 40 percent of all homes in the United States are owned free and clear, with “the highest share” in West Virginia at 54%,” said Bloomberg. “Maryland and the District of Columbia were on the other end of the spectrum with rates of 27% and 24%, respectively.”

How Long Does It Take to Close on a House?

“All cash, seven-day close.” Those words are a dream for a home seller and a real estate agent, but while they may be thrown around on shows like Million Dollar Listing to entice a buyer to accept a $28 million offer on a $30 million list price, how realistic is it to close so quickly in the real world? Not very, it turns out. Yes, an all-cash offer can greatly speed up closing (and, even then, seven days is rare). But for the 75% or so of buyers who finance their home purchase, “47” is the magic number.

June Sales Post Unusual Decline as Median Price Reaches All-Time High

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5 Ways Buyers Can Make the Winning Bid

In a tough market, it pays to be prepared. Make sure you’re ready to pounce once you find your dream home with these five tips to help you place the winning bid.

Mistakes Buyers Make When Searching for Their First Home, and How to Avoid Them

Many starter-home purchases are driven primarily by price, which is understandable. But, there are so many other considerations involved in finding the right place, like square footage and location, to name just a few of the most consequential.

Shape of the Current Market: Summer 2019

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July Real Estate Roundup

Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017. While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into higher home sales in the second half of this year."

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