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    Fall Newsletter

    Hello clients & friends! We hope you’re all doing well in today’s world.  Like so many businesses, The Daniel Team has suffered the many effects of COVID and has made adjustments to accommodate the ‘new normal’.  At first we all worked from home, binged Netflix, ate too much junk food and got cabin fever like most folks—we’re only human!  We never stopped working, not only because we’re considered essential but out of respect and responsibility for our clients and team members, cautiously working together (at a distance).  We have shifted to new platforms and new styles of communication—with clients, coworkers, family and friends.  We’re using more 3D videos and virtual tours than ever before, offering safety supplies at our listings, and taking precautions with clients and showings.  While the real estate industry as a whole took a dip earlier this year, we not only survived the 2020 pandemic but “Instead, the U.S. housing market has been the best-performing economic sector in the world during the pandemic” according to HousingWire.  The  National Association of Realtors reported that pending home sales hit a record high in August 2020 and new listings rose 9% from one year ago.  Our business is increasing too.  Just two weeks ago we had four listings that went under contract within three days!  We’d love to do that every week!  We know so many small businesses are struggling so we do what we can to support our local economy. We’re staying as informed as possible and using this knowledge to better serve our client family. We sincerely hope you’re all surviving & ultimately thriving as we navigate an uncertain world.   If we can help in any way, we’re here for you.  #strongertogether

    Wishing you the best,  The DANIEL Team

     

    Rising Home Equity Can Power Your Next Move

    Across the country, today’s homeowners are gaining significant equity.  CoreLogic analysis shows U.S. homeowners with mortgages (~63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6% year over year.  Despite a cool off in April, home-purchase activity remained strong in the second quarter as prospective buyers took advantage of record-low mortgage rates.  This and low inventory helped drive home prices up and add to borrower equity through June.  The CoreLogic Home Price Index registered a 5.9% increase Aug. 2019 to Aug. 2020.

     

    Mortgage Update

    Mortgage rates continue to set and remain at record lows ranging in the low to high 2% range with annual mortgage applications up 24% year over year.   Buyers or individuals looking to refinance will have access to the lowest rates when both their credit scores and equity in their current property are high.   Record low interest rates mean increased savings for people looking to refinance their existing mortgages and increased purchasing power for people looking to purchase new homes.   Underwriting guidelines have also tightened which makes it even more important for people looking to be pre-approved or refinance to reach out to their local lenders as early as possible in order to gather the necessary documentation.  As a result of record low mortgage rates,  home buyers are out in full force which is increasing the demand for homes making it tougher for buyers to win multiple offer scenarios.   This means that it is more important than ever to have a pre-approval on hand and ready to present to a seller when making an offer.    Refinance candidates with satisfactory credit and equity in their home should immediately look into refinancing to a lower rate before a new .5% adverse market fee on all refinances goes into effect on December 1st 2020.   With the election on the horizon and an unclear economic outlook,   it is extremely important for individuals to take advantage of these record low interest rates while they are still available.

    Update provided by Alexander Realejo, Legacy Home Loans

     

     

    Fall Maintenance Checklist

    Clean & stow your mower.

    Store hoses and turn off outdoor water.

    Drain and turn off sprinkler system.

    Seal cracks around doors and windows.

    Clean your gutters.

    Eyeball your roof.

    Direct drainage away from your house.

    Get your furnace serviced.

    Prune your plants.

    Make sure your fireplace is safe.

    -Houselogic.com

    Support Local Businesses

    If you like to shop local and love farm fresh veggies, eggs, and meat…this is your one-stop-shop. You may have seen Harbin Hollow’s Handcrafted Elderberry Syrup at Hendersonville Produce and other retailers across Tennessee.  Now, they have their own storefront which just opened in Portland, TN.  Come check it out to find pumpkins from Bradley Kountry Acres, Tennessee Grass Fed beef and pork, butternut squash soup from Cocorico Nashville, house made tortilla chips from The Go Go Gourmet and various flavors of Wise Butter.  Yum.

    Visit HarbinHollow.com or find them on Facebook @harbinhollow

     

     

     

     

    We love hearing from you!

    Congrats to Matt & Sara on their very first home!! What a joy to be a part of their next chapter!  Thank you so much for your kind words, you were so great to work with.

    “Ann was an amazing advocate and resource to my husband and me as first time home buyers.  She was with us every step of the way, giving candid and practical guidance when asked.  She has been the realtor for many of my family members, so she’s definitely family now!  She’d be my first call to sell or buy again, and I would absolutely recommend her to anyone!”

    -Sara C. / Buyer / 2020 / Gallatin

     

     

     

     

     

     

     

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