The Mays Group - True North Home Loans

10/31/2024

Happy Halloween 🎃

10/07/2024

It’s already begun

Just heard of the first offer accepted 20k over list with a full appraisal waiver in Bedford, Texas.

Those waiting for rates to fall - this will be your reality.

Buy now, we can always lower the rate later when rates fall, if they do? - don’t set yourself up to overpay for the same house 6 months from now.

Set yourself up to lower your rate on a price you locked in today if and when rates fall to a level that makes since to refinance.

There is no guarantee of lower rates ahead, but there is almost certainly a guarantee of higher prices.

Call me to discuss in detail 817.653.2025.

www.themaysgroup.com

Remember you never now rates have hit bottom until they go back up!

Together my team and I bring more than 25 years of local and national lending experience to your transaction and are personally committed to you and your

04/09/2024

Realtors

Go to instangram and follow SFMChometours for some amazing content to share.

Please reach out to me or anyone on my team for details.

03/13/2024

February 2024 housing report

Source: Greater Fort Worth Association of REALTORS

Inventory continued a steady climb in February, and the median home price for Fort Worth increased to $329,000. This is up 0.9 percent from February of 2023.

Active listings were up 25.4 percent in Fort Worth and 28.7 percent in Tarrant County. However, closed sales were down 2.2 percent in Fort Worth and 4.1 percent in Tarrant County.

Inventory has been steadily climbing over the last several months to 2.5 months in Fort Worth and 2.4 in Tarrant County. The Texas Real Estate Research Center at Texas A&M University states that 6.5 months of inventory would represent a balanced market.

“We’re seeing a slight decrease in days on the market in Fort Worth,” said Blake Barry, 2024 President of the Greater Fort Worth Association of REALTORS®. “As we head into the spring market and more options become available, home buyers are going to want to be prepared to make an offer if a home catches their eye.”

The overall market rebound has been slower than anticipated nationally. Pending home sales decreased 4.9 percent in January, as measured by the Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings reported by the National Association of REALTORS® (NAR).

Sales of newly built homes increased, however, according to reports from the Commerce Department. Those numbers are being driven up due to the historically low supply of existing homes.

Housing affordability is also an issue for many current homebuyers, which is why the slightest fluctuation in mortgage rates can cause ripples throughout the market. Last week, mortgage rates declined slightly to 6.88 percent for a 30-year fixed-rate mortgage. However, about a third of homebuyers don’t feel that impact, as all-cash sales accounted for 32 percent of transactions in January, according to NAR.

"The job market is solid, and the country's total wealth reached a record high due to stock market and home price gains," said NAR Chief Economist Lawrence Yun. "This combination of economic conditions is favorable for home buying. However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that's impacting home sales."

February 2024 Fort Worth Statistics At-A-Glance

766 - Homes sold in February 2024, 2.2 percent less than February 2023
$329,000 - Median price in February 2024, 0.9 percent more than February 2023
2.5 - Monthly housing inventory in February 2024, 0.6 months more than February 2023
53 - Average number of days homes spent on the market in February 2024, 12 days less than February 2023
29 - Average number of days to close in February 2024

12/07/2023

🚨🚨🚨Breaking news 🚨🚨🚨

In case you haven’t heard.

Source Freddie Mac

“The 30-year fixed-rate mortgage averaged near 7 percent this week, down from nearly 7.80 percent just six weeks ago,” said Sam Khater, Freddie Mac’s Chief Economist. “When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.”

Now is likely the absolute best time to buy a home - don’t wait!

It is still a buyers market - take advantage while you can.

Service First Mortgage and I can handle all your Mortgage needs - I am always available on my cell 512.652.8309.

When rates fall substantially inventory is very low, and we are likely to see prices jump, and negotiation power go out the window- buy now and refinance later.

Ask my team or I about our rate protection program, this will be of tremendous value to you when rates do fall substantially- don’t wait to buy, now is the time.

Just ask everyone who didn’t buy in 2019 and 2020 if waiting was a good idea 🤔

All of our builder partners also have tremendous year end incentives as well
www.SFMC.com/builders

Reach out to your Service Forst Loan officer for more details.

Contact your Service First Loan Officer for additional details.

02/13/2023

January 2023 housing report - source Greater Fort Worth Association of REALTORS

The median home price in Fort Worth in January 2023 was $320,000, which is flat from one year ago. After a year of dramatic price increases in 2022, the decrease in prices is a welcome sight for prospective homebuyers, who have been faced with low inventory, higher mortgage rates, and the pressures of inflation.

Although prices look similar to a year ago, inventory is higher. In January 2022, inventory was only 0.7 months, but in January 2023, it was up to 2.1 months – still low but providing many more options for prospective homebuyers. The Texas Real Estate Research Center at Texas A&M University cites that 6.5 months of inventory represents a balanced market.

“From my viewpoint, the market is stabilizing, which hopefully means the volatility is behind us,” said Bart Calahan, 2023 President of the Greater Fort Worth Association of REALTORS®. “For homebuyers who have been stuck on the sidelines, the fact that prices are steady and homes are taking longer to sell is a good thing. They have a great opportunity now to explore all the options and find a home that fits their needs.”

Days on the market was up to 62 days in Fort Worth in January, and closed sales were down between 30-35 percent in Tarrant, Johnson, and Parker Counties. With the spring season on the horizon, many are eagerly waiting for the buyers and sellers to emerge.

A potential lead on those buyers comes from a recent analysis of census data from the National Association of REALTORS® (NAR), which shows young adults who had been living at home with their parents are starting to leave the nest. In 2022, 15.6% of adults ages 25 to 34 lived at home with their family, down from 17.8% in 2020. With rents up by double digits and some savings under their belt, buying a home is becoming an increasingly viable option for this segment of the population.

Nationally, pending home sales rose 2.5% in December, ending a six-month slide according to NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings.

“A slowdown in home prices is underway and welcomed, particularly as the typical home price has risen 42% in the past three years,” said NAR Chief Economist Lawrence Yun. “Even with a projected reduction in home sales this year, prices are expected to remain stable in the vast majority of the markets due to extremely limited supply.”

January 2023 Fort Worth Statistics At-A-Glance

549 - Homes sold in January 2023, 35 percent less than January 2022
$320,000 - Median price in January 2023, which was flat compared to January 2022
2.1 - Monthly housing inventory in January 2023, 1.4 months more than January 2022
62 - Average number of days homes spent on the market in January 2023, 31 days more than January 2022
31 - Average number of days to close in January 2023

01/18/2023

01/12/2023

The cost of living fell 0.1% in December and posted the first decline since the onset of the pandemic in 2020, pointing to a further slowdown inflation a.