How the Interest Rate Affects Buying Power

If you’re reading this article there’s a good chance you are already aware that mortgage interest rates have been on the rise. According to the Freddie Mac web site the average interest rate last year for a 30 year fixed mortgage was 2.96% with .7 points. When I checked that site May 4 the quoted rate for the same mortgage was 5.1% with .8 points. 5.1% is a lot higher than 2.96% but is still not a bad rate. The average interest rate in 2018 was 4.54% and that was considered good at the time. The year I got my license it was over 9%!

So what does this approximate 2% increase in rates really mean? To buy the same house as last year your payment will be higher, the sales price would need to come down considerably which isn’t happening, or you will need to buy less house to keep the same payment.

For example- if you were looking last year to buy with a $500,000 mortgage you would have had a payment (principle and interest) of approximately $2097. That same (approximate) payment would get you a $390,000 house today. Or buy the $500K house and increase your payment by close to $700.

I am hearing nothing about rates coming back down anytime soon and will probably be increased again. If you are considering buying a home in the near future you should act sooner rather than later. There is still a low inventory, prices are continuing to increase, and when rates go up again your price range will drop.

If you are considering selling you shouldn’t probably wait too long. So far I’m not seeing a flattening or decrease in prices, but at some point as rates increase your buyer pool will start to shrink.

Jackie Hawley
Coldwell Banker Professionals
Cell/Text: (248)736-6407
Email: Jackie@JackieHawley.com

I’m Back Full Time! Health is Back 100%!!!

You haven’t seen much activity on this blog for the past 5 years or so and probably haven’t seen many of my signs out there. I’ve had some ongoing health issues since early 2017. The good news is all is now under control, and I feel better than I have in the past 5 years. The other good news is I lost a hundred pounds- literally (but have gained 20 or so back).

So- if you are in the market to buy or sell or know someone who is, please don’t hesitate to contact me.

Cell/Text: (248)736-6407
Email: Jackie@JackieHawley.com

The Importance of Curb Appeal

Spring is approaching and soon most of this year’s home sales will be hitting the market. Spring and summer are typically when most of the homes sell in North Oakland and Lapeer counties. But it is also the time most houses go on the market. And if you are trying to sell those houses are called competition.

The first thing a prospective buyer will see is the front, exterior of your house. The MLS requires a front view as the main view and most web sites like Zillow and Realtor dot com pull their data from the MLS. Often times a buyer will want to drive past before seeing the interior.

So, if you are going to be selling, now is a good time to take a good look at a prospective buyer’s first look. Are you going to need to paint? Trim bushes and/or trees? Buy a few flats of flowers? Clean windows? Is your yard going to need a good weed and feed?

Would you like some advice on your home’s curb appeal? Please don’t hesitate to contact me at (248)736-6407 or Jackie@JackieHawley.com

www.JackieHawley.com

Tips for getting you house ready for sale

The Importance of Curb Appeal

Spring is approaching and soon most of this year’s home sales will be hitting the market. Spring and summer are typically when most of the homes sell in North Oakland and Lapeer counties. But it is also the time most houses go on the market. And if you are trying to sell those houses are called competition.

The first thing a prospective buyer will see is the front, exterior of your house. The MLS requires a front view as the main view and most web sites like Zillow and Realtor dot com pull their data from the MLS. Often times a buyer will want to drive past before seeing the interior.

So, if you are going to be selling, now is a good time to take a good look at a prospective buyer’s first look. Are you going to need to paint? Trim bushes and/or trees? Buy a few flats of flowers? Clean windows? Is your yard going to need a good weed and feed?

Would you like some advice on your home’s curb appeal? Please don’t hesitate to contact me at (248)736-6407 or Jackie@JackieHawley.com

www.JackieHawley.com

Tips for getting you house ready for sale

New Bill Introduced to Protect Homeowners in Property Tax Foreclosure

State rep, Gary Howell of Lapeer, has introduced House Bill 4219 that would allow MI homeowners to keep the excess proceeds when their house is sold. At this time if you lose your home for back taxes, the county can sell it and keep what is owed PLUS any equity in the house. This bill would see to it that the county can keep what is owed plus any fees incurred and the homeowner would keep the rest of the equity.
If you agree, please read the bill and contact your state rep and ask him/her to vote for it.

If you have any real estate questions, please don’t hesitate to contact me and I will do my best to get you the answers.

Jackie Hawley, Realtor
Coldwell Banker Professionals
cell/text: (248)736-6407
Jackie@JackieHawley.com
www.JackieHawley.com 

All Sports Lake Lapeer Home for Sale

When is the Best Time to Sell Your House?

The best time to sell your North Oakland or Lapeer County home is when it fits best into your schedule. Some think of spring/summer as “the season” for selling. It is true that there are more sales in the spring and summer, but there are also more houses on the market.

Spring and summer are more enjoyable times to look, but when a person is looking at homes when the snow is up to their butt, they are probably a more serious buyer! There are so many different reasons that people move, it is impossible to tell when the best prospect for your house is out looking.

Sooo- if you are ready to move in the next few months, you should get your house on the market now. The timing won’t affect your pricing or time on the market.

For a free market analysis, please contact me. After I look at your house/property I will spend some time researching similar properties and then we can discuss price, marketing and the time it should take to sell.

Jackie Hawley, Realtor, e-PRO

Coldwell Banker Professionals
Jackie@JackieHawley.com
Cell/Text: (248)736-6407
www.JackieHawley.com

Friendship Park- Lake Orion MI

Friendship Park in Lake Orion MI (technically Orion Township) is 137 acre park located on the northeast corner of Clarkston and Baldwin Roads. Friendship Park is quite a nice facility that is only a half mile down the road from where I grew up and would have been great to have ball diamonds that close when I was a kid.

Friendship Park features 4 baseball/softball diamonds, 2 soccer fields, a sweet play structure, walking paths, a gazebo, the historic Porritt Barn and a nice pavilion which was finished in 2002 and offers indoor bathrooms, office space, kitchen area, meeting room and an outdoor pavilion with grills.

The excellent location of Friendship Park offers easy access to I-75, paved trails run adjacent to the park on 2 sides, Webber schools is just across the street and though both Clarkston and Baldwin Roads are main roads, this is not a high traffic area- at least not to the point where there are traffic jams or long waits at the light even during rush hour. Friendship Park is also an easy walk to at least one of the entrances to Orion Oaks County Park.

Crampton Park Lapeer MI- Updated Video

Crampton Park Lapeer MI- Another video updated with current office information

Lapeer Country Club and Banquet Center- updated video

Lapeer Country Club and Banquet Center- Lapeer MI – Updated video since changing offices