Originally posted on http://www.homesalesbylisa.com/making-your-house-stand-out-from-the-neighborhood-competition/ You’ve just listed your home in [Albuquerque, NM] for sale – it’s official. And then a week later, much to your aghast, the house two doors down the street goes on the market. And then a few days after that, your neighbor’s house across the street goes on the market too. Believe it or not, this happens more than you think…. So when you find yourself – and your home – in this situation, what do you do? How do you explain the neighborhood competition and make your house stand out from the others? Here are a few thoughts to help you navigate this potentially complex selling scenario: Explain the neighborhood competition. You will get a million questions from buyers about why there are multiple homes on the market on the same street or in the same neighborhood, and so you need to be able to answer the questions when asked. Some buyers will get suspicious and wonder whether the multiple homes on the market mean anything negative about the neighborhood. And so it’s important to find out why your neighbors are leaving. Most likely their reasons for moving will be separate and distinct from one another, and these reasons will relate to changes in circumstances, i.e. downsizing because the kids are off to college, trading up, relocating to another part of the world, etc. Furthermore, more times than not, this phenomenon of multiple homes for sale in the same neighborhood will be completely coincidental. Having this information will help dispel any potential rumors or misinformation about the neighborhood and its multiple homes on the market, thus increasing the likelihood of your home selling.   Make your house shine and sparkle – both inside and out. As evidenced by my numerous blogs about selling a shiny and sparkling home, this is important no matter what – even if there aren’t any other homes on the market on your street for sale. But it becomes even more essential when there are multiple properties for sale on the street and in the neighborhood. Your home has to stand out from the competition or the buyers will pass it by for the more attractive homes down the street. And be sure to pay attention to the outside just as much as the inside.   Price your home as competitively as possible. Again this is another crucial element to selling your home, but it becomes even more paramount when there are several homes on the street for sale. You need to make your house stand out from the others, and what better way to do this than with a more competitive price. It stands to reason that this is even more important if the homes on the...

Originally posted on https://www.housingwire.com/articles/41648-mba-economists-heres-what-mortgage-rates-are-going-to-do-in-2018-and-beyond under the title, “MBA economists: Here’s what mortgage rates are going to do in 2018 and beyond” On a whole, mortgage interest rates moved lower throughout 2017 after rising above 4% in January. But what’s going to happen in the next few years? According to the top economists at the Mortgage Bankers Association, mortgage rates will rise in the next few years, past 4% and even past 5%. During a session at MBA Annual in Denver, the MBA’s Michael Fratantoni, chief economist and senior vice president of research and technology; Marina Walsh, vice president of industry analysis; and Lynn Fisher, vice president of research and economics; discussed the MBA’s view of how the economy and the housing market will change over the next few years. Speaking first, Fratantoni said that the MBA expects purchase mortgage volume to continue to grow through 2020, while refinances are expected to continue dropping as interest rates rise. As for interest rates, Fratantoni said that the MBA believes that mortgage rates will rise to 4.6% next year, then above 5% in 2019 and 2020. Later in the session, Fisher discussed the MBA’s view of the future of the housing market. Fisher said that the MBA’s forecast shows that house prices can’t continue to rise at this rate forever. Fisher said that the MBA expects a stabilization in house prices, not a decrease, but a calming of the recent increases in the coming years. Another facet of the housing ecosystem that is affected by rising housing prices is affordability. As Mohamed El-Erian, the chief economic advisor for Allianz and the former chief executive and co-chief investment officer at PIMCO, said on Monday at MBA Annual, another factor on housing affordability is wage growth, or the lack thereof. “Income is not keeping up with rising home prices and the gap is growing,” El-Erian said. “The industry needs desperately income growth. We’ve gone as far as we can go on artificially low interest rates. Income growth is so important to so many parts of the economy.” But according to Fratantoni, wage growth is coming. “It is getting much more difficult for companies to fill their open positions,” Fratantoni said, but said a growing number of companies plan to begin raising wages to attract qualified candidates moving forward. So, while interest rates may increase in 2018 and beyond, perhaps borrowers will be able to handle those higher rates thanks to higher...