The Mortgage Bankers Association reported that applications the week before Christmas were at the highest level since 2003. While refinance volume grew 63%, purchase volume grew as well, by nearly 18%. That seems to indicate there is buying going on. Veteran banking analyst Richard Bove said that he "expects housing prices in the United States to stabilize and/or rise after a likely boom in mortgage refinance, as mortgage rates fall and loan applications increase"…indicating that now is a golden opportunity for buyers.
I know I have people buying homes…have an inspection tomorrow and a closing on Friday. Which brings me to the point of the title of this post.
If you are planning to buy, you will be out visiting homes. Remember to be prepared to take off your shoes…we are in the midst of 'messy' season! Wear shoes/boots that are easy on and off, and socks that will keep your feet warm (I couldn't help showing off my new hand-knit Christmas socks!)…or even bring slippers, as some of my clients do.
If you are house hunting you are also likely doing online searching with your shoes off at home. Let me know if you would like me to set you up with a great new search tool my clients are loving that accesses the Twin Cities MLS directly…you can edit your own search criteria and get daily updates with thumbnail photos (linked to property details) and info on whether it's a new listing or a price reduction, including the amount of the price reduction!
Wow! Those are fabulous socks.
Someone must think you are pretty special to knit something that cool for you.
Happy new year!