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Denise Laugesen REALTOR® (650) 465-5742 deniselaugesenteam@gmail.com

Cortney Laugesen REALTOR® 650-678-5084 cortneylaug@gmail.com

Market Conditions

January 8, 2024

2024 Mortgage Rate Predictions: Insights for the Bay Area’s Peninsula Real Estate Market

The Laugesen Team, specialists in the Bay Area’s Peninsula real estate market, is keenly observing the developments in mortgage rates as we enter 2024. The Federal Open Market Committee’s recent decision to maintain the benchmark federal funds rate steady for the third consecutive time at the end of 2023 is a pivotal development. This decision, leaving the rate between 5.25% and 5.5%, signals a potential pause in rate hikes, as noted by Fed Chairman Jerome Powell. Despite inflation still being above the Fed’s 2% target, the projections for 2024 suggest possible rate cuts by year’s end.

Experts are offering varied perspectives on the trajectory of mortgage rates for 2024. Danielle Hale from Realtor.com and other industry analysts like those from the National Association of Realtors and the Mortgage Bankers Association predict a gradual decrease in rates. They foresee mortgage rates potentially easing to near 6.5% by the end of the year, providing some relief to homebuyers. The current rates as of January 2024, with a 30-year fixed mortgage at 7.12% and a 15-year fixed-rate at 6.55%, are significantly higher than those in early 2022, indicating a shift in the lending landscape.

For the real estate market in the Peninsula, encompassing Redwood City, Hillsborough, San Mateo, and Burlingame, this could mean a slight easing of mortgage costs as the year progresses. Homebuyers might find more affordable options, and homeowners considering refinancing could see opportunities, especially if rates continue to drop. However, the decision to refinance should not only consider potential rate decreases but also the overall cost implications over the loan’s lifetime.

In the broader context, the Peninsula’s real estate market is likely to experience a balancing act. While slightly easing rates might not drastically alter market dynamics in the short term, they could provide a more favorable environment for buyers as the year progresses. Looking ahead, experts suggest that mortgage rates are likely to decline over the next few years, potentially leading to a more active housing market. Yet, the challenge of low housing inventory remains, likely keeping the market competitive.

As we navigate through 2024, the Laugesen Team remains committed to providing our clients with the most current insights and guidance. Whether you’re buying, selling, or considering refinancing in the dynamic Peninsula market, we are here to help you make informed decisions in this evolving landscape.

Please don’t hesitate to contact us with any questions. We love what we do and we are here to assist you in achieving your real estate goals in 2024

By cortney
November 28, 2022

WAYS TO GET A BETTER INTEREST RATE!

I should’ve bought a house last year when interest rates were low.
Maybe that’s true, but you can’t go back now! Don’t let the should’ves, could’ves, would’ves stand in the way of achieving your dream of homeownership! We can’t predict what will happen in the real estate market over the next few months, but I can tell you this. Owning your home helps to create your overall wealth!
Here are 3 ways to get a better interest rate and save money on your next mortgage:
1. Look into a temporary rate buydown
A temporary interest rate buydown is not a long-term solution but is a way to temporarily lower your interest rate for the first few years of the loan. This financing tool allows you to reduce the cost of your mortgage payment in exchange for an up-front cash deposit. Talk with your lender to learn more and see if a temporary rate buydown is a good option for you!
2. Improve your credit score
Your credit score plays a huge role in qualifying for a mortgage and can also help you get a better interest rate. Lenders typically view a high credit score as an indicator that you’ll be a strong and safe borrower. Improving your credit can help you to get a lower interest rate, as your lender will feel more confident that you’ll be responsible with new credit. Start by disputing errors if necessary, making payments on time, and paying down your credit balances to boost your credit.
3. Make a larger down payment
The more money you put down on a home, the better your chances are of getting a lower interest rate on your mortgage. Making a sizable down payment will give you a lower loan-to-value ratio (LTV), and lenders will see you as less risky of a borrower since you have more stake in the property.
One of the first steps in the home-buying process is to work with a mortgage lender to get your finances in order. If you need a lender in SEATTLE, send me a message, and I’d be happy to connect you with a couple of my preferred lenders!

 

IF YOU ARE THINKING ABOUT SELLING your Bay Area property, it is important you hire a real estate team of professionals with an extensive portfolio of home sales, a significant list of happy clients and a history of excellence.

The Laugesen Team has the experience, connections and creativity to list and sell your distinctive property successfully.

OUR INNOVATIVE AND PERSONALIZED APPROACH
• Pricing for Success
• Prepare for Top Sale
• Impressive Marketing
• State of the Art Technology
• Network with other High-End Agents

OUR RESULT-FOCUSED SERVICE
• Always available to show qualified buyers and agents.
• Schedule Open Houses and Broker’s Tour
• Follow-Up Quickly and Consistently
• Immediately respond to all leads.
• Encourage serious buyers to make serious offers.
• Facilitate the closing process to ensure a successful, competitively priced, stress-free sale.

By cortney
November 20, 2022

HOLIDAY DECORATIONS WHILE LISTING YOUR HOME FOR SALE.

Decorating your home for the holidays is only one of the many joys of the season. Decorating can make any home feel joyful, whether it’s with a cornucopia and pumpkins for Thanksgiving, a Douglas fir with lights for Christmas, or a menorah for Hanukkah. When choosing your holiday décor, you might want to remain objective while you’re preparing to sell your home around the holidays. Make use of these decorating recommendations while keeping in mind the selling of your home.

Limit clutter

While some people use the holidays as an opportunity to decorate every nook and cranny of their home, it’s best to keep things to a minimum. A significant focus of staging is to remove clutter to make your home appear as spacious as possible. Select a few pieces of festive flair to bring the holiday spirit into your home, and leave the rest in storage this year. If you need help choosing decorations, you should avoid anything with names or photos. Personalized items can make it difficult for homebuyers to see themselves living in your home.

Don’t block natural light

You should highlight how much natural light your home receives while selling it, so make sure to avoid placing any decorations in front of windows or doors. If you’re limited in the amount of space you have, you can place an item in these areas but be mindful of how it is positioned to maintain the flow of light throughout the room.

Coordinate colors

Certain colors instantly come to mind when you think of the holidays. You may choose a fall color palette when decorating for Thanksgiving and the classic red and green in December. However, it is important to keep your home as visually appealing as possible, so avoid decorations that clash with the current color scheme of your rooms.

Use decorations to accentuate features

Start with some of the best features if you need help deciding where to place decorations when selling your home. This could include a fall-inspired garland for your mantel or mistletoe hanging from an arched doorway. However, you should make sure decorations don’t hide any feature you love. For example, don’t hang seasonal decorations in a window with a spectacular view of your backyard.

Avoid large decorations

Try to limit your decorating to pieces that positively highlight the size and charm of the room. For example, a lush tree can be the ultimate sign that Christmas is on its way. However, if your home is for sale, you may want to go with a smaller tree. While large trees bring a festive feel to your home, they can also make rooms appear small and cramped.

Decorate the exterior

If part of your holiday decorating includes the outside of your home, don’t be afraid to keep up that tradition. Exterior decorating can boost your home’s curb appeal. However, exterior decorating has its limitations, and you should avoid large decorations that take attention away from the aesthetic of your home. You can decorate with a wreath and a few pumpkins for Thanksgiving and replace them with a few strands of white lights and a ribbon on your mailbox for the December holidays.

By creating a cheery feel on the inside and outside of your house, potential buyers will be able to envision having their own celebrations in your home.

 

 

IF YOU ARE THINKING ABOUT SELLING your Bay Area property, it is important you hire a real estate team of professionals with an extensive portfolio of home sales, a significant list of happy clients and a history of excellence.

The Laugesen Team has the experience, connections and creativity to list and sell your distinctive property successfully.

OUR INNOVATIVE AND PERSONALIZED APPROACH
• Pricing for Success
• Prepare for Top Sale
• Impressive Marketing
• State of the Art Technology
• Network with other High-End Agents

OUR RESULT-FOCUSED SERVICE
• Always available to show qualified buyers and agents.
• Schedule Open Houses and Broker’s Tour
• Follow-Up Quickly and Consistently
• Immediately respond to all leads.
• Encourage serious buyers to make serious offers.
• Facilitate the closing process to ensure a successful, competitively priced, stress-free sale.

 

By cortney
December 5, 2014

The Laugesen Team December Closed Sales!

1360 Tartan Trail, Hillsborough

$2,350,000

5 beds, 3.5 baths

3,490 sq ft

30,720 sq ft lot

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1245 Murchison, Millbrae

$1,875,000

4 beds, 2.5 baths

2,240 sq ft

18,936 sq ft lot

946885_500 kitchen_500

1492 Ascension, San Mateo

$1,425,000

3 beds, 2 baths

1,480 sq ft

8,700 sq ft lot

946884_500 livingroom_500

 

410 Ridge, San Carlos

$988,000

2 beds, 1 bath

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Call us for all your real estate needs…..

The Laugesen Team

#1 Producing Team

Coldwell Banker

Denise: 650-465-5742 Cortney:650-678-5084

www.TheLaugesenTeam.com

www.the411on94010.com

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By Admin
November 12, 2014

Possible Change in 10/31 Exchanges

If you are considering a 1031 Exchange in the very near future, you should consult your exchange facilitator or qualified tax advisor.

The “Tax Reform” tab has something about the possibility of 1031 exchange being repealed?

http://www.ipx1031.com/tax-reform-proposals/

 

Call us for all your real estate needs…..

The Laugesen Team

#1 Producing Team

Coldwell Banker

Denise: 650-465-5742 Cortney:650-678-5084

www.TheLaugesenTeam.com

www.the411on94010.com

 

CB641109f05 CB641108f07

By Admin
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