Richard Stein – Realtor®, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

Mortgage Rates Surge to 4-Month High

For the second week, mortgage rates moved higher. This time, the 30-year fixed-rate mortgage inched above 3.5 percent for the first time since June.

“This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels,” says Sean Becketti, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 20:

  • 30-year fixed-rate mortgages: averaged 3.52 percent, with an average 0.5 point, rising from last week’s 3.47 percent average. Last year at this time, 30-year rates averaged 3.79 percent.
  • 15-year fixed-rate mortgages: averaged 2.79 percent, with an average 0.5 point, also rising from last week’s 2.76 percent average. A year ago, 15-year rates averaged 2.98 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.85 percent, with an average 0.4 point, increasing from last week’s 2.82 percent average. Last year at this time, 5-year ARMs averaged 2.89 percent.

Source: Freddie Mac

Where You Can Sell a Home the Fastest

Nationwide, properties are staying on the market for 39 days before selling, according to September housing data released by the National Association of REALTORS® this week. That is down significantly from a year ago when the average stood at 49 days. Forty-four percent of homes sold in September were on the market for less than a month, according to NAR.®’s inventory data shows the metro areas where listings are staying on the market the shortest amount of time are:

  • San Jose-Sunnyvale-Santa Clara, Calif.: 34 days
  • San Francisco-Oakland-Hayward, Calif.: 35 days
  • Seattle-Tacoma-Bellevue, Wash.: 38 days
  • Denver-Aurora-Lakewood, Colo.: 39 days
  • Salt Lake City, Utah: 39 days

Source: National Association of REALTORS®

Help Clients Stage a Home for Halloween

Holidays often make or break a home’s ability to sell quickly, and Halloween is no different. Whether it’s decorating with creative neutral color palettes like white and gold, or avoiding distracting holiday lighting, the right festive additions can go a long way in adding warmth to your client’s home while it’s on the market.

Professional interior designer Kerrie Kelly recently compiled some do’s and don’ts that can help sellers amp up their home’s curb appeal with Halloween decorations.

Do: Spice up curb appeal with fall foliage.

Don’t: Solely decorate for Halloween.

Curb appeal is essential for a home on the market, as it’s the first thing potential buyers see. Instead of solely decorating with Halloween in mind, your clients should focus more on fall decor that can be used throughout all of autumn. Kelly suggests celebrating the fall harvest with pumpkins, gourds, dried corn, wheat stalks, leaves and bare branches. Window sills, walkways, pillars, staircases and entryways are also prime locations for a collection of foliage and plump gourds. Make sure your clients also change out planters of summer flowers to those with rich autumn hues, and take advantage of the front door or a few windows by putting up a cheerful wreath.

Do: Bring in cozy textures, patterns and lighting.

Don’t: Be distracting with crazy lighting and bold themes.

Stray away from crazy lighting (like black lights) and bold themes (like cemeteries and skulls) that can easily deter buyers. Instead of having potential buyers leave thinking the home is a Halloween theme park, bring in cozy textures and lighting to make the home welcoming. Pillar candles, votives and decorative lanterns will bring a warm glow to the home that will make viewers want to stay. Switching out bright summer pillows for those with cozy textures and bringing in richly colored plaids and patterns with snug throws and linens will make the home festive for Halloween without filling it with overly-distracting motifs.

Do: Get creative with color.

Don’t: Deck the halls with everything orange, black and bright purple.

While it’s easy to get caught up with the Halloween staples of orange, black and purple, filling a home head to toe with bold colors will be distracting to potential buyers. Get creative with color schemes while still keeping them relatively neutral. Whites and golds, for instance, are great accents to warmer autumn colors and are untraditional, surprising additions to any room. Your clients can bring in fall hues in unconventional ways: Try copper pots as flower vases or fill clear apothecary jars with pomegranates or Halloween candy. Keep things neutral with splashes of warm fall color for a festive home that’s sold in no time.

Source: Professional interior designer Kerrie Kelly enjoys creating new ideas for fall events and writes about decor for Home Depot, where you can view many Halloween-inspired decor ideasonline.

    Translate to:

  • Categories

    Promote blog