Thursday, February 14, 2019

Data includes residential homes from the following school districts: Avon Grove, Kennett Consolidated, Unionville-Chadds Ford, Oxford Area, Octorara, Coatesville and Solanco.

Friday, February 8, 2019


INTEREST RATES DIP CREATING SWEET SPOT FOR BUYERS
A rare dip in interest rates is resulting in big year over year savings in mortgage payments. As the spring market kicks in, history has shown us that interest rates will rise. Buyers who wait to purchase will see a $60K+ increase in the 30 year life of the loan ~ even if the interest rates rise only 1%. Buyers who can act now will be able to put that money into buying more home, remodeling or savings!
Rates and information provided by Christian Campbell, Delaware Valley Financial Mortgage, LLC Click to visit website 

Illustration based on $300,000.00 purchase 80% loan to value and credit score of 760. Monthly payments reflect principle and interest and do not include property taxes and home owners insurance as they vary per property and coverage. 4.375%: APR 4.441%. 5.375%: APR 5.447%. Interest rates subject to change without notice.



2018 REFECTION
For an accurate picture of the real estate market we must widen the lens several years. While home sales dropped nationwide in 2018 a few percentage points from last year, the overall picture shows steady growth. Considering 2017 was the highest in homes sales in a decade, it is not surprising that 2018 finished a few points lower. Still, the 2018 real estate market finished above the spike of 2009. Statistically, it is a small flinch in the data and a very mild adjustment compared to the long-term growth over the past years.
Graph source: Economic & Housing Outlook by Lawrence Yun Ph.D. Chief Economist NAR 11/2/18


2018 REFECTION ON THE LOCAL MARKET
2018 brought tight inventory that created an urgency in buyers to act quickly. This dynamic demanded that agents be responsive, capable and knowledgeable in order to meet the pace of transactions. I'm happy to report that here in our offices, 2018 brought a 10% increase in home sales volume over last year. Our continued growth is attributed to our skilled agents who have the support of a management and administrative team with extensive experience. Unmatched market knowledge has resulted from our 45 years of business growth. Our management team is heavily engaged in the real estate industry and local commerce which creates opportunity and insight that benefits our entire team.