Market Update Feb. 8, 2022 - Going, Going, Gone
The real estate market these days is often more like an auction with many home's list price considered the "reserve price" and the final closing price well above asking and in this week's Orange County Housing Report, Steven Thomas describes how the homes are going, going, gone all too quickly if sellers heed his advice: carefully price your home to obtain the ideal price and terms. Read more in the link.
A quick glance at where we are with the market this week:
#1 - Interest Rates
Rates as of 2/07/2022
*30 year mortgage average: 3.875%
*15 year mortgage average: 3.0%
*If you wanted to buy a home for: $1,000,000
Down payment (20%): $200,000
Est. monthly mortgage payment: $5,096/month for 30 years
Est. monthly mortgage payment: $6,859/month for 15 years
Get pre-approved to be ready for the purchase process now. If you would like to speak with a mortgage lender, click reply and I will make an introduction to a lender that will best meet your lending needs.
#2 Real Estate Market Snapshot for Huntington Beach as of 2/7/2022
* There are 49 new homes on the market in the last week in Huntington Beach for a total of 106 active listings!
* 21 properties went under contract in the last week.
* Median list price is $1,299,000.