Ted Schirm-Loan Officer, NMLS # 378239-Equal Housing Opportunity

01/19/2023

FAQ of the day!

Looking to get pre-approved? Call or email me!
[email protected]
908.403.6429

01/09/2023

Thank you, Jessica!

01/06/2023

Thank you, Katherine!!

01/05/2023

Future refinancing is always an option! Your dream home won't wait!

11/10/2022

Thank you, Jacob!

11/02/2022

Almost fed time!!! Be strong everyone.

10/25/2022

Two economic reports came out today regarding home appreciation that I thought I would share.

The National Case-Shiller Home Price Index, which is considered the “Gold Standard” for appreciation, showed home prices fell 1.07% in August, but increased 13% year-over-year, which is a decline from the previous reading of 15.6% in July. While the national index did show a month-over-month decline, most of the decline was seen in some of the larger cities like:
• San Francisco (-4.3%)
• Seattle (-3.9%)
• San Diego (-2.8%)
• LA (-2.3%)
• Denver (-2.3%)

When you remove these cities that were overheated, most markets are relatively Flat.

THE FHFA (Federal Housing Finance Agency) released their House Price index, which measures home price appreciation on single-family homes with conforming loan amounts. Different than Case Shiller, it does not include cash buyers or jumbo loans. The FHFA reported prices fell 0.7% in August and are up 11.9% year-over-year, which is a decline of 13.9% from the previous year.

The moral of the story is that what we have been experiencing is a decline in the RATE of appreciation and not a loss of property values.

Give me a call if you feel like chatting about this or any other topic!
908.403.6429

10/25/2022