May Newsletter

May Newsletter

Fixed mortgage rates fell in the week ending May 13,

with the weekly average for the 15-year loan hitting a record low for the year…

  Giving Back: Please click on the logo to learn how you can join this tradition of doing good!

I want to bring your attention to our charity commitment, UnBound. Through the generous contributions of more than 260,000 sponsors that make this work possible, Unbound celebrates more than 30,000 children, elders and families in Asia, Africa and Latin America. Chris Properties has been a contributing sponsor since 2017. Will you join us?

  https://www.unbound.org/Featured Website Content: We have a new website! We have been working behind the scenes the past several weeks with Jennifer Schell at Agent Site Branding to update the look and functionality of our website.  Please click on the logo to check it out!

  May Residential Market Review: Courtesy of Har.com. Please click on the logo to learn more.

Low interest rates inspired consumers to snap up high-end homes in April at a pace never before seen, sending prices to new highs while keeping home inventory at historic lows. It must be noted that, as in March, some figures contained in this latest housing report are distorted because they compare to the same month last year when real estate was just beginning its recovery from coronavirus-related lockdown orders that halted most of the business…”

  May Commercial Real Estate Highlights: Courtesy of BISNOW. Please click on the logo to learn more.

“Drive-thrus were the life raft that kept many fast-casual and quick-service restaurant chains afloat during the most difficult days of the coronavirus pandemic. As major brands continue to come up with new and inventive ways to expand and improve their drive-thru offerings, more traditional dine-in restaurants are also pivoting to incorporate drive-thru accessibility into their models, according to retail experts.

NewQuest Properties Vice President Austin Alvis said that drive-thrus have become an absolute requirement for new store growth. The industry has recognized that the drive-thru is not just a driver of revenue, but also a protective mechanism in times when things go wrong. “Everybody operated almost an entire year with no dine-in business, so it really changed the game,” Alvis said.

  May Mortgage News & Education: Courtesy ofthebalance.comPlease click on the logo to learn more.

Appraisal – Steps to Take if the Appraisal Is Lower Than the Offer – “Low appraisals can happen in any marketplace—hot, cold, or neutral. It’s not out of the question that an appraiser can make a mistake, or they might not have sufficient experience to get the process just right. It’s possible that the seller overpriced their home, not willing to accept that it has some flaws that could (and should) subtract from the purchase price. Fortunately, you’re not without options when and if the appraisal comes in low, from adjusting the sales price to tweaking the down payment or arranging for another appraisal…”

 Additional Resources:

Here are a few references that we have found helpful in understanding our markets and economy… 

As we continue to gain strength as a community, city, state and nation, please let us know how you are doing and how we can help you!