This week we have a roundup of real estate news and helpful or interesting articles in the real estate sphere.
Interest rates hit new low, again. For the 12th time this year, mortgage rates hit a record low. According to Realtor Magazine, “The 30-year fixed-rate mortgage fell to an average of 2.78%, the lowest ever recorded in Freddie Mac’s books dating back to 1971. Sam Khater, Freddie Mac’s chief economist, attributed the record-low rates this week to ‘economic and political ambiguity.’ ‘Despite the uncertainty that we’ve all experienced this year,’ he said, ‘the housing market, buoyed by low rates, continues to be a bright spot (https://magazine.realtor/daily-news/2020/11/06/30-year-rates-dip-to-new-low-278).’”
Selling an Old Home? If you’re looking to sell an old home, this article features some structural areas to consider prior to listing. Search for uneven floors, which could be a sign of rotting or damage by water. Sticky cabinets or saggy walls could be an issue with a home’s foundation. Old or leaky roofs could indicate an issue with the roof itself, such as warps on the underlayer or mold, and whether a roof replacement is needed. Here’s the article for full details: http://blog.rismedia.com/2020/structural-repairs-selling-home/#close.
Zoom Rooms Make an Appearance: This is an interesting new trend directly correlated to changes we’ve seen in 2020. With the rise of video conferencing, homes are now boasting dedicated space for virtual meetings. The good news is these spaces do not need to be full rooms—small spaces work when they are set correctly. Realtor.com offers some practical guidance: set a dedicated space, keep clutter minimized, focus on the background, include the right light, and upgrade your chair. Take a look at the article for more details: https://www.realtor.com/advice/home-improvement/what-is-a-zoom-room-tips/.
As always, we are available for any real estate questions or needs you may have. Please do not hesitate to let us know how we can help.