Napa Newsletter

This Week In Real Estate - Mortgage rates down for now ...

This Week In Real Estate - Mortgage rates down for now ...
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<<First Name>>,
 
Mortgage Rates Falling still … but not for long
 
It might be time to Refi if you purchased in the last 6 months. Mortgage rates have fallen to their lowest levels since last April.
 
Freddie Mac stated this week that the 30-year fixed-rate average sank to 4.45 percent with an average 0.5 point. It is nearly 0.5% below the recent peak of 4.94% in November of 2018.
 
Although rates have been continually declining since November 15, 2018, that trend is not expected to continue. The recent strong jobs report, 4th Quarter Holiday sales, and upcoming corporate earnings reports are expected to impact the rates to the positive in the near future.
 
https://www.washingtonpost.com/business/2019/01/10/mortgage-rates-continue-their-six-week-decline-falling-nine-month-lows/?noredirect=on&utm_term=.6b9361f2d3be
 
http://www.freddiemac.com/pmms/
 
If you want to see a long-term forecast for mortgage rates, out until 2023
 
https://longforecast.com/mortgage-interest-rates-forecast-2017-2018-2019-2020-2021-30-year-15-year
 
This website expects rates to fall until March or April of this year, but be above 5% for most of 2020 and 6% by 2022
 
-Kris
 
Home sales in your area:
Street Full Address Listing Price Selling Price
1206 Terrace Dr, Napa, CA 94559-3586 899,000 876,500
245 Rosebud Ln, St. Helena, CA 94574-2117 1,149,000 1,050,000
2294 Janette Dr, Napa, CA 94558-4536 569,900 561,900
2581 Hawthorne Ct, Napa, CA 94558-6003 545,000 540,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

We are proud to support Teens Connect. This life saving organization helps the youth of our community face mental health issues to prevent violence, suicide and other at risk behaviors. Teens Connect supports, engages, and empowers teens through programs centered around art and wellness, peer support and volunteer projects. We provide positive opportunities for youth to discover their self-identity, express their voice and create lasting social impact in their communities.


 

"Infuse your life with action. Don't wait for it to happen. Make it happen. Make your own future. Make your own hope. Make your own love. And whatever your beliefs, honor your creator, not by passively waiting for grace to come down from upon high, but by doing what you can to make grace happen... yourself, right now, right down here on Earth."

-Bradley Whitford
 

*Call or details and conditions 
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This Week In Real Estate - Government Shutdown

This Week In Real Estate - Government Shutdown
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The effect of the government shutdown and real estate
 
The impact of the government shutdown will be short lived, but if you are currently looking to purchase or sell a home today, here are a few things you need to be aware of.
 
Most mortgages are sold to or originated by the federal government. These fall into two categories. Government Sponsored Enterprises - GSEs (Fannie Mae and Freddie Mac Conforming loans) and Government insured loans (VA, FHA, and USDA)
 
The GSE loans are originated by a bank and then sold back to the GSEs. These entities are operating as usual, but may have some minor slowdowns as other entities in the government that they rely on are furloughed.
 
The Government Insured loans of FHA, VA and USDA are not issuing new case numbers during the shutdown. This mean that if you are looking to purchase with these types of loans, your escrow will be delayed as long as the shutdown continues. For both buyers and sellers, make sure you are aware of this effect on the terms of the contract.
 
Additionally, if you work for the government and you have been furloughed, it is not a guarantee that you will receive the back pay once the shut down ends, this can affect your loan approval.
 
If you have any questions about this please do not hesitate to call.
 
-Kris
 
Home sales in your area:
 
Street Full Address Listing Price Selling Price
4500 Silverado Trl, Calistoga, CA 94515 2,195,000 2,215,000
2830 Sacramento St, Napa, CA 94558-4755 389,000 380,000
1412 Sherman Ave, Napa, CA 94558-3429 579,000 560,000
1791 E St, Napa, CA 94558-1037 624,950 635,000
2645 W Pueblo Ave, Napa, CA 94558-4348 779,000 791,000
1501 Barbara Rd, Napa, CA 94558-4572 619,000 629,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

 

"What lies behind us and what lies before us are tiny matters compared to what lies within us."
— Ralph Waldo Emerson

 
*Call or details and conditions 
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This Week In Real Estate - My New Year's Resolutions

This Week In Real Estate - My New Year's Resolutions
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Happy New Year.
 
As you sit down to make your new year’s resolutions, I offer you mine for this year.
 
  1. Be kinder to yourself, to your friends, to your family, to everyone.
  2. Spread Joy, Not Hate
  3. You can not win, if you do not begin. Set a goal, make a plan and GO FOR IT!
  4. Strive to make mistakes. If you are making mistakes, you are living outside your comfort zone and pushing yourself further.
 
Let me know your resolutions and I will check in with you every month to see how you are doing.
 
-Kris
 
Home sales in your area:
 
Street Full Address Listing Price Selling Price
1445 Sproul Ave, Napa, CA 94559-1505 895,000 895,000
1330 Madrona Ave, St. Helena, CA 94574-1803 1,895,000 1,825,000
60-80 Clear Creek Rd, Napa, CA 94558 19,995,000 15,000,000
2419 Vine Hill Dr, Napa, CA 94558-2539 888,000 860,000
1891 Heritage Way, Yountville, CA 94599-9405 1,999,000 1,900,000
11 Burnette Ct, Napa, CA 94558-4515 429,900 424,000
1981 Wilkins Ct, Napa, CA 94559-4103 579,000 560,000
611 First St, Napa, CA 94559-2626 1,075,000 970,000
21 Fairview Dr, Napa, CA 94559-3537 469,000 460,000
30 chelsea Ave, Napa, CA 94558-5735 375,000 375,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

 

"What lies behind us and what lies before us are tiny matters compared to what lies within us."
— Ralph Waldo Emerson

 
*Call or details and conditions 
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Kris Chun, REALTOR®

2015 President North Bay Association of REALTORS – Napa Chapter

Direct: (844) 4MY-NAPA
1560 Silverado Trail, Napa, CA 94559
DRE# 01870237

 

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