Laurie Farber-Condon, Author at Las Campanas Experts

INFO THAT HITS US WHERE WE LIVE – Santa Fe Las Campanas

It didn’t take long to find out that the Fed’s decision to increase the Funds Rate by 0.25% at their mid-December meeting didn’t have much negative impact on either mortgage rates or the housing market.

Sold Homes- January 2016

Back to Market Reports >> Sold Homes Las Campanas January 2016 Address List price Sell price %L/S Sell date DOM/CDOM SqFt $/Sqft LotSz 10 Rain Dance Ct. – Lot 523 $649,900** $649,000 99.86% 01/14/16 426 2658 $244.17 1.570 24 Graythorn Drive – Lot 138 $625,000** $620,000 99.20% 01/12/16 256 2661 $233.00 2.260 10 W. Arrowhead Circle – … Read more

Pending Homes- January 2016

Back to Market Reports >> Pending Homes Las Campanas January 2016 Address List$ Date DOM SqFt $/SqFt LotSz 41 W. Golden Eagle – Lot 398 $1,070,000** 01/11/16 250 4911 $217.88 1.140 2 Green Meadow Loop – Lot 378 $1,225,000 01/08/16 84 4121 $297.26 2.750 4 N. Brisa Fresca – Lot 103 $1,095,000 01/04/16 183 3427 $319.52 … Read more

Sold Land – January 2016

Back to Market Reports >> Sold Land Las Campanas January 2016 Address List price Sell price % L/S Sell date DOM/CDOM LotSz 16 Amberwood Loop- Lot 327 $275,000 $275,000 100% 01/05/16 35 1.452 8 Deer Dancer – Lot 596 $250,000 $250,000 100% 01/27/16 34 2.170 ** Previously listed at a higher price. * Previously listed … Read more

Pending Land – January 2016

Pending Land Las Campanas January 2016

Santa Fe Las Campanas Homes For Sale- Market Steady to Start 2016

Over the past week, mortgage rates have drifted up and down mostly based on year-end volatility due to light trading volume. The economic events have had little influence. Mortgage rates ended the past week slightly higher.

While existing home sales dropped sharply in November, partly due to new closing disclosure regulations, other recently released data on housing activity showed better results. NAR’s pending home sales index for November was nearly unchanged. This index measures contracts to buy previously owned homes which were signed during the month. Similarly, the Commerce Board’s new home sales report measures contracts signed to buy new homes, and it showed a 4% increase in activity in November. These two leading indicators bode well for early 2016 closing activity. Fannie Mae forecasts a 3.9% increase in total home sales in 2016.

The core PCE price index is the Fed’s preferred indicator of inflation. The most recent release showed that in November inflation remained well contained, at an annual rate of just 1.3%. Both low commodity prices and a stronger dollar have helped keep inflation low in 2015. However, the effect these have on inflation is transitory. Unless commodity prices continue to fall or the value of the dollar continues to rise, future readings will not reflect these benefits. Since mortgage rates are heavily influenced by expectations for future inflation, the success of the Fed’s efforts to keep inflation low will be closely watched by investors in 2016.

Looking ahead, mortgage markets will close early on Thursday and will be closed on Friday in observance of New Year’s. Next week, the important monthly Employment Report will be released on January 8. As usual, this data on the number of jobs, the unemployment rate and wage inflation will be the most highly anticipated economic data of the month. Before that, the ISM national manufacturing index and Construction Spending will be released on January 4. The ADP Employment Change, the ISM national services index and the Minutes from the December 16 Fed meeting will come out on January 6.
Robert Miera
Senior Loan Officer
Castle & Cooke Mortgage, LLC
505-800-6033 Ext. 412
rmiera@castlecookemortgage.com

Realtor.com Gives An Update On Housing

Realtor.com®: Home sales are poised to zoom to the highest levels since 2006 next year, according to a 2016 housing forecast issued by realtor.com®. Gains in new-home construction and existing home sales are both expected to push total home sales to the highest levels in years.

Las Campanas Santa Fe Market Rates

Well, the Federal Reserve FINALLY made its move to increase the federal funds rate by .25% point. This means that Prime Rate for most banks will increase to 3.5%.

Santa Fe Las Campanas Market Report

The first 11 months of 2015 shows us ahead of the rate of sales for last year in an environment with markedly lower inventory. This puts the balance of listings and solds into a healthier framework, helping sellers get desired results and helping buyers stay focused on finding the right home.

When inventory was too high, there was no way to know what the right asking price should be.