Welcome to another 5th week edition of the newsletter, 5th week editions are our referral specials. Share this newsletter with friends or family for a chance to win a $50 gift card (see below). Wow, what a wild ride the beginning of the year has been. Monday saw a gnarly gap down on major US stock indices, it also brought along the 10yr yield. The 10yr yield touched 4.50% at one point, a very welcome sight. I would like to see that continue. We have our first FOMC meeting of the year, so a rate decision will be made later today. The expectation is for The Fed to remain at current levels. We'll need to see how the treasury yield and mortgage rates react to that news. As of now, the market locally seems to be warming up. Let's see. My listing that I had in contract in four days fell our of contract after a week. The buyer got cold feet. That happens from time to time. I reached out to other previous offers to give them an opportunity if they were still looking. No takers, so we re-listed at our contract price of $355,000. We were back in contract at that price before the weekend ended. Low and behold, disaster struck again not even 24 hours later with the buyer backing out after second guessing his decision over night. Geez Louise. The plan now is to replace the carpet, take new pictures and take advantage of the moderating mortgage rates. The deadline to RSVP for Pizza My Heart is this Friday! What are you seeing or hearing? I'd love to know paul@guiderealestate.comVisit www.paulpelettarealtor.com |
