Posts made by author 'Carol Solis'

Greater Charlottesville Area 2018 Second Quarter Highlights:

• Home sales climbed 7.5% (1,290) compared to Q2 2017 (1,200), led by an increase (23.6%) in attached homes. 

• Greater Charlottesville median sales price rose slightly to $314,500 (1.6%) compared to this time last year ($309,500).

• The median days on the market in the 2nd Quarter was 45, 10-days lower than in Q2 2017. 

• New listings increased 7.5% (1,691) compared to Q2 2017 (1,573), as pending sales also improved by 12.8% (1,238) compared to this time last year (1,098). 

• Inven...

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Video: What's the First Step on the Home Buying Journey?

Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors.

Sam Khater, Freddie Mac's Chief Economist, had this to say:

"Healthy consumer spending and higher commodity prices spooked bond markets and led to higher mortgage rates over the past week.

Not only are buyers facing higher borrowing costs, gas prices are currently at four-year highs just as we enter the important peak home sales season."

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According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an "analysis of 14.7 million home sales from 2011 to 2017" and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

ATTOM even went a step further and broke their results down by day.

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