Home Lending Rates from the 1970’s to 2000’s [INFOGRAPHIC]

lending rates 1970 to 2020

What You Need to Know:

  • With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
  • According to Freddie Macrates are projected to increase to 3.9% by this time next year.
  • The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan.
  • Maybe it’s time to lock in now, while rates are still historically low.

Curious how much house you can afford?

Click HERE to get a free, no-strings, no-hassle consultation from our trusted local lending partner, One Trust.

 

Headquartered in Lake Tahoe, Nevada since 1986, Chase International is a dynamic, luxury real estate company with a heart-centered approach, committed to the success of its clients, sales associates, staff and community. With more than 350 professional Realtors® representing homes at all price points, the company is proud to be the market leader, achieving the highest 2018 volume in the region with nearly $1.4 billion in sales. The company currently operates nine offices in Reno-Tahoe—Zephyr Cove, Glenbrook, Incline Village, Carson Valley, South Lake Tahoe, Tahoe City, Truckee, Reno, and Sparks, as well as a marketing and PR firm in London. With powerful international connections in place, Chase listings receive maximum industry exposure to potential purchasers worldwide.

 

Posted on November 29, 2019 at 7:30 am
Chase International Client Care | Category: Buyers, Market Reports | Tagged , ,

Think Home Prices Have Skyrocketed? Look at Rents

The Price of Real Estate

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.

In the most recent Apartment Rent ReportRentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.

 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”

Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:

“The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value growth, annual rent growth is accelerating in 41 of the largest 50 markets.”

The Zillow report went on to detail rent increases since the beginning of the housing market recovery in 2012. Here is a graph showing the increases:Think Prices Have Skyrocketed? Look at Rents. | MyKCM

Bottom Line

It is true that home prices have risen over the past seven years, increasing the cost of owning a home. However, the cost of renting a home has also increased over that same time period.

Need help finding a rental in the Reno-Tahoe-Carson area? View our rental listings here.

Need help finding a Reno-Tahoe-Carson home of your own? View homes for sale here.

 

Posted on October 28, 2019 at 7:21 pm
Chase International Client Care | Category: Market Reports | Tagged , , ,

Are You Ready for the Black Friday of Real Estate in Reno-Tahoe?

Home Shoppers Chase International

Every year, Black Friday is a highly anticipated event for eager shoppers. Some prepare for weeks. They craft and refine a strategic shopping agenda, determine exactly when to arrive at each store, and create a wish list of discounted must-have items to purchase.

But what about buying a home? Is there a Black Friday for the home-buying process? It turns out, there is. According to a new study from realtor.comthe week of September 22 is the best time of year to buy a home, making it Black Friday for homebuyers.

After evaluating housing data in 53 metros from 2016 to 2018, realtor.com determined that the first week of fall is when buyers “tend to find less competition, more inventory, and the biggest reductions on list price.

The report explains,

“During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year…nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak.”

What’s so different about the first week of fall?

George Ratiu, Senior Economist with realtor.com says,

“As summer winds down and kids return to school, many families hit pause on their home search and wait until the next season to start again…as seasonal inventory builds up and restores itself to more buyer-friendly levels, fall buyers will be in a better position to take advantage of today’s low mortgage rates and increased purchasing power.”

Learn more about how prices, listings and buyer competition stack up during the first week of fall in metro areas across the United States.

Bottom Line

If you want to take advantage of the Black Friday of home buying here in the Reno-Tahoe-Carson region, reach out to any of our agents to discuss the benefits of making your move this fall.

 

Posted on September 26, 2019 at 8:32 pm
Chase International Client Care | Category: Market Reports | Tagged , ,

Reno-Tahoe Housing Market Forecast Mid-Year 2019-2020

Now that we’re halfway through 2019, it’s time to reassess our current housing market and adjust our housing market predictions for the rest of the year. But first, let’s review current national trends in real estate. Continue reading

Posted on July 23, 2019 at 7:08 am
Chase International Client Care | Category: Carson Valley Real Estate, Lake Tahoe Real Estate, Market Reports, Reno Real Estate, South Lake Tahoe Real Estate | Tagged , , , , , , , , , , ,

Mid-Year 2019 Reno-Tahoe Real Estate Market Reports

The Reno-Sparks real estate market saw a small decline in sales the first half of 2019. Overall sales volume dropped four percent, and the number of homes sold dropped six percent. Carson Valley home sales volume was up three percent, while median home prices rose by five percent.

Continue reading

Posted on July 15, 2019 at 12:23 pm
Chase International Client Care | Category: Carson Valley Real Estate, Lake Tahoe Real Estate, Market Reports, Reno Real Estate

The Chase International Reno-Tahoe Luxury Real Estate Market Report Spring 2019

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We’ve had a phenomenal year in luxury real estate in the Reno-Tahoe region. Luxury home buyers continue to choose beautiful Lake Tahoe as the place to purchase their getaway home, while others relocate to Reno, Sparks and Carson Valley for Nevada’s wide open spaces and favorable tax climate. Read on to learn more about luxury trends in our region.

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View the full report.

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What’s your home worth? Get three no-hassle valuations instantly.

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Posted on April 12, 2019 at 3:19 pm
Chase International Client Care | Category: Buyers, Luxury Service, Market Reports, Sellers

Reno-Sparks-Tahoe-Carson: Housing Market Predictions 2019

Steve Harney, Founder and Chief Content Creator of Keeping Current Matters, recently visited Chase International to speak at our company meeting. A residential real estate expert who specializes in market trends, he shared his macro analysis on the changing real estate market for 2019. Continue reading

Posted on March 11, 2019 at 5:02 pm
Chase International Client Care | Category: Buyers, Carson Valley Real Estate, Lake Tahoe Real Estate, Market Reports, Reno Real Estate, Sellers, South Lake Tahoe Real Estate | Tagged , , , , , , , , , , , , , , , ,

Chase International year-end 2018 Reno-Tahoe-Carson real estate market reports.

Lake Tahoe experienced robust luxury home sales in 2018, with closings on single-family homes over $1 million increasing by 19%. Average median prices rose 12% around the lake, except on the East Shore where prices softened by 9%.

Reno witnessed a 51% increase in home sales over $1 million this year, as the rest of the market paused a bit moving into 2019.

“Luxury really made a comeback this year,” said Susan Lowe, Senior Vice President and Corporate Broker at Chase International. “We saw some very strong numbers in the luxury segment, which we define at over a million dollars, roughly. Across the region, the million dollar luxury market is up 25% from 2017.”
Continue reading

Posted on January 8, 2019 at 5:09 pm
Chase International Client Care | Category: Lake Tahoe Real Estate, Market Reports, Reno Real Estate, South Lake Tahoe Real Estate

Reno luxury real estate market favors buyers as luxury Lake Tahoe home prices increase.

Though still a seller’s market for average-priced homes, the Reno luxury real estate market slightly favors buyers as we close out October, 2018.

21 properties over $1 million sold in the Reno-Sparks area of Nevada that month, 3.4% of all properties sold. This represents a 40% increase over units sold in September, 2018. Continue reading

Posted on October 15, 2018 at 3:33 pm
Chase International Client Care | Category: Market Reports | Tagged , , ,