Happy October!
I came across this article on interest rates and wanted to share it.
According to CNN, the interest rate on a 30-year fixed-rate loan fell to 3.94% this week, the lowest rate since Freddie Mac began tracking it. Meanwhile, the average for a 15-year fixed-rate mortgage also hit a record, falling to 3.26%.
This results in substantial savings for homeowners.
Compared with just three months ago, when the 30-year was at 4.60%, borrowers today can save about $40 a month per $100,000 borrowed.
That comes to a savings of nearly $14,000 for every $100,000 borrowed over the life of the 30-year loan.
Mortgage rates hit a new record low in August of 4.15%, primarily due to uncertainty in the global and domestic economies.
While these incredible rates represent a significant savings for home buyers, experts note that for the benefits to be fully realized, lending conditions must loosen to enable more buyers to take advantage of them.
As overall economic activity gets back on track, rates will likely rise to keep inflation in check. In other words, the window of opportunity for buyers to lock in these historically low interest rates will not last forever.
What's the Bottom Line?
Also, a big wave of "shadow inventory" will hit the market soon. This is a backlog of foreclosures in process, making it even more difficult for sellers to compete.
Now is the best time in history to BUY! Inventory is high, rates are low, prices are low. It's still a historically GREAT time to buy a home!
If you know anyone looking to buy or sell, send them my way!
Thanks for thinking of me. I appreciate your referrals!
-- Jenny
Rare combination of prime location and pristine condition! MLS# 1638312.
Charming Westmorland ranch features magazine-ready, quality custom kitchen by Dybdahl's with the luxury finishes and amenities you'd expect (new in 2008).
This three-bedroom ranch sports many updates: Anderson windows, updated electrical, exterior paint, California Closets and driveway.
Delightful sun porch, hardwood floors. Versatile family spaces in lower level with entire wall of built-in storage closets. Walk to schools/parks and bike or bus to anywhere!
To view more pictures, click HERE.
To schedule a private showing, call (608-219-8989) or email!
Home prices dipped by less than 1% in July with median home price at $174,000.
This is 4.5% below the year-ago level which followed a strong spring season of sales driven by the tax credit. Median home prices remain close to 2002–2003 levels.
Distressed sales continue to count for almost 1 in 3 homes sold.
The combination of low prices and record-breaking low interest rates means that home affordability is extremely favorable.
Source: kw.com
Home sales in July were up by 21% from the same month last year when the expiration of the tax credit resulted in a significant drop in sales.
However, they were down 3.5% compared to June.
This could be due in part to NAR’s report that 16% of members experienced a contract failure from issues in underwriting and appraisals during July.
NAR President Ron Phipps states, “For both mortgage credit and home appraisals, there’s been a parallel pendulum swing from very loose standards, which led to the housing boom, to unnecessarily restrictive practices as an overreaction to the housing correction.”
Source: kw.com
Just when you think you are caught up with social media, another "must-have" site comes up! I just created my Google+ profile today and would love to have you all in my circle! Click the Google+ icon for my profile.
Hope to see you there!
Jenny
Please join us as we celebrate our GRAND OPENING on Tuesday, September 27th, from 10:00am to 2:00pm! A Grill-Out Lunch will be provided, with grill support from our good friends at Clear Title.
To ensure an accurate headcount (and make sure that no one goes hungry), please RSVP via Eventbrite if you would like to join us for lunch. The link is: http://kwwgrandopening.eventbrite.com Please encourage your guests to RSVP as well. There is no cost to attend.
As always, please let me know if you have any questions! 608-219-8989 or jennyswain@kw.com.
There's never been a better time to visit Hawthorn Hill Condominiums!
Looking for the perfect blend of style and lifestyle? Want your own four walls, with condo convenience?
Stop by our open house at 6812 Redspire Lane, DeForest, WI 53532.
These charming individual condos are built with the character and quality of yesterday, with thoughtful one-story floor plans, luxury appointments and quality finishes that are undeniably "today."
Enjoy all of the benefits of a single-family home without the high maintenance! Each 1,500 square foot home is designed to provide convenient, one-level living and a Guest Suite in the exposed lower level.
All homes—fifteen individual bungalow styles—boast nine foot ceilings and quality finishes including real hardwood floors and solid two-panel doors.
Conservancy Commons, a beautiful nature preserve, frames the entire neighborhood with the scenic Yahara River and miles of wilderness trails just outside your own front door.
* Your own four walls!
* One-Story Floor Plan
* Screen Porch & Front Porch
* Nature Preserve/Trails
* Brand NEW, Individual Units
* 2-Car Attached Garage
* 2 Bedrooms plus Den/Office
* 9-Foot Ceilings
* 6812 Redspire Lane, DeForest
For more information, visit http://jennyswaincondos.com/hawthorn-hill.html
Questions? Call or email! 608-219-8989 or jennyswain@kw.com.
Click HERE to view the virtual tour.
Opportunity knocks for the savvy Buyer! MLS# 1632685.
Friendly Middleton neighborhood, very special setting. Seriously, check out the screen porch and back yard overlooking endless NATURE!
Master suite with enormous closet. Big, solid home, needs cosmetic improvements (see Cond Report). Recent updates include chimney ('09), A/C ('06), water heater ('05).
To view a picture gallery, click here.
Full, dry basement. Welcome to the neighborhood!
Price reflects need for improvements. 1-year Home Warranty included.
To schedule a private showing, call me at 608-219-8989 or email at jennyswain@kw.com.
My primary focus is working with Buyers and Sellers of single-family homes and condominiums on the west side of Madison and neighboring communities.
I am a 1989 honors graduate of the University of Wisconsin-Madison, with a B.S. in Interior Design. It comes in very handy!
I have been actively selling Madison real estate since 1991. I was affiliated with the largest local company for my first 11 years, then joined Keller Williams Realty International in January, 2003. I was among the group of 19 agents who opened the first Keller Williams office in the State of Wisconsin.
Just a few years later, our Madison West office is now the single, highest-producing real estate office in the state (all firms). Wahoo!
My primary focus is working with buyers and sellers of single-family homes and condominiums on the west side of Madison and neighboring communities.
I also enjoy condominium development and income/investment properties.
My administrative manager Stacey McWilliams is “quality control,” tackling the infinite transaction details and caring for our clients.
“Marketing Marc” Rodriguez is the master of all things marketing (and an amazing technology geek). Together, we are an efficient, organized team and are able to respond quickly to our clients’ needs.
My Seller and Developer clients appreciate my attention to detail, my clear and prompt communication and my genuine concern for their bottom line. My Buyer clients and REALTOR® peers thank me for my straightforward approach, my integrity, my competence and my accessibility.
My personal life is very fulfilling as well.
My husband John and I have been married for 18 years. John recently graduated from UW Madison with a degree in Earth Science education and is teaching Earth Science at West High School in Madison.
We share our lives with our four beautiful sons—Evan (15), TJ (13), Ryan (13) and Jeremy (25). Jeremy is a Navy pilot, married to Lindsey. They have a lovely daughter, Molly, making us very young grandparents.
CHRISTINE RADER REALTOR® / BUYER'S AGENT
As the other UW Madison graduate on the Jenny Swain Team, I used my bachelor’s in Journalism to build a career in public relations and marketing communications.
My years of success helping those I worked with to meet their goals is coming in handy helping people find their dream homes.
In real estate, I am fortunate to be able to continue one of my main goals in life: helping people. As a public relations person, I helped three very special organizations figure out how to successfully find solutions to important health care challenges.
Today, as your Buyer’s Agent, I listen carefully and use my skills and the deep experience of Jenny and the rest of the Jenny Swain team to find the home that best suits you and your family at the right price, right down to the last detail.
Your life will unfold there, so every detail is important. With our deep knowledge of the Madison Area, I delight in helping make sure that home is in just the right neighborhood for you. My family is the other area where I delight.
Fellow UW Madison grad and husband of 18 years, John, is a great partner and Dad to our wonderful twins, nearly 12-year-old Erika and Jack who seem to be involved in everything. John works with many government clients as a CPA with Baker Tilly.
STACEY MCWILLIAMS ADMINISTRATIVE TEAM LEADER
Stacey McWilliams is the master of the business details.
As administrative manager, she ensures the accuracy of all paperwork, contracts and the multitude of transaction details. She also follows your contract deadlines and contingencies to assure nothing falls through the cracks.
Stacey excels at customer care and is committed to your happiness. She is married to Jessy and has a precious baby daughter Sydney.
MARC RODRIGUEZ MARKETING & TECH SUPPORT
“Marketing Marc” Rodriguez is the team techno geek.
He is all things technology, including managing all of our internet marketing, social media, websites, blog and more. If it’s online, he’s on it.
Your home will have amazing 24/7 online presence and exposure, which is crucial in today’s virtual world. Marc shares his real (not virtual) life with Kraig and their sweet puppy Greta.
KIETRA GROSSE SHOWING ASSISTANT
Also joining the team is Kietra Grosse, who joins us as a Showing Assistant.\ Kietra’s bright personality is perfect for assisting our Buyers with their house hunt and for hosting Open Houses at our Seller listings!
Web
www.jennyswain.kwrealty.com
www.jennyswaincondos.com
Blog
yourmovingexperience.wordpress.com
Twitter
http://www.twitter.com/jennyswain
Facebook Fan Page
http://on.fb.me/cNhOOC
LinkedIn
http://www.linkedin.com/pub/jenny-swain/5/480/920
YouTube
http://www.youtube.com/user/jennyswain100
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