This Month in Real Estate June 2012 has been released!
Homes sales activity rose to a pace of 4.6 million from the low of 4.48 million last month. The median home price jumped a large number to $177,000 from $164,000 as seen in This Month in Real Estate May 2012. Freddie Mac reported that the average interest rate dropped to 3.78% from a high in the 4’s last month. This is said to be the lowest rate since Freddie Mac began tracking 50 years ago!
In the Top Story, Jay Papasan talks about the most common repairs sellers make prior to closing.
1) Roof repairs
4) HVAC/Heating & Cooling Systems
In News You Can Use, Byron Ellington discusses why home inspections are a critical piece in buying a house, and what to look for during the inspection.
1) You want to be aware of structural damage, whether it be water damage, from shifting ground, or poor construction.
2) “Don’t sweat the small stuff.” Home inspectors are hired by the buyer to find everything wrong that they can. The list may be long — but some of the items may be very minor! Don’t let small things that can easily be fixed worry you too much!
3) If you have a large issue that shows up in an inspection report, consider bringing in a specialist in that field to consult with you on the matter.
4) Keep in mind that the likelihood is that these items found may be a surprise to the seller as well.
For more details about buying a home in Baltimore, please contact me. I would be happy to help!