59 Open House events???

Yup, that’s right!

In the greater Pioneer Valley (including Springfield and Holyoke), there are 59 upcoming Open Houses! The market is still chugging along whether you are buying or selling.

https://pdf.mlspin.com/results/21cc9e78-ab8d-45a5-8128-494db1f369c3.pdf

This link is valid for a limited time. For an updated link or a custom search, please email Info@VincentRusso.RealEstate.

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Market State for June, Updated 7/1/24

Interesting stats for the month of June for the Pioneer Valley counties.
If you’d like stats on your country or town. let’s chat!

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Market Stats, June 15, 2024

With 84 average days on the market, are thing shifting?
Let’s grab a coffee and discuss!

Market Stats for Franklin County, Hampshire County and Hampden County in the Pioneer Valley area of Massachusetts for June 1 – June 15 as of this morning.

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The Home Buying Process – A Road Map

The home buying process can be complicated. I’m here to help!

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Home Shopping Do’s and Don’ts

10 Do’s and Don’ts when home shopping from our friends at Northpoint Mortgage!

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Market Stats – May 2024

Market Stats for the counties of Pioneer Valley May, 2024 – Franklin, Hampshire, Hampden. There are a few new outlier properties this month – let’s chat!

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Happy Pride!

June 2024 – Happy Pride Month!

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VA to temporarily lift ban on buyer agent commissions

by Patrick Regan May 24, 2024

Original post at

https://atlantaagentmagazine.com/2024/05/24/va-to-end-ban-on-buyer-agent-commissions/

An effort by the National Association of REALTORS® (NAR) to end the U.S. Department of Veterans Affairs’ ban on homebuyers paying for real estate representation appears to have reached a breakthrough.

During the Mortgage Bankers Association conference in New York this week, VA Deputy Director of Policy Michelle Corrdion announced that the department would temporarily lift its ban. The VA policy states that buyers using the VA loan benefit “may not, under any circumstances, be charged a brokerage fee or commission in connection with the services” of a real estate professional. 

It was not immediately clear when the ban formally would be lifted or for how long. 

“NAR launched an all-hands advocacy effort on this issue, meeting with VA officials, engaging with lawmakers and rallying our industry partners to ensure this prohibition was lifted,” said Shannon McGahn, chief advocacy officer NAR. 

“Without this change, thousands of veteran buyers could be denied access to professional representation in their pursuit of the American Dream of homeownership. Taking this extra step ensures veterans have the same opportunity as others to compete in a tight housing market. We applaud the VA for recognizing this danger and acting swiftly to protect veterans.”

The VA policy could have created complications for buyers with the planned changes in NAR’s lawsuit settlement agreement, scheduled to take effect in August. Those changes include written buyer agent agreements that cover agent compensation.

In March, NAR wrote to the VA asking for a policy change that would allow veterans to keep access to the VA home loan benefit.

“In situations where no offer of compensation is offered from a seller, VA buyers are immediately at a disadvantage, potentially forcing them to forego professional representation, lose a property in an already limited inventory, choose a different loan product or exit the market entirely,” the letter read. “The VA home loan guaranty program is a vital homeownership tool that provides veterans with a centralized, affordable and accessible method of purchasing homes as a benefit they earned for their service to our nation. NAR wants to ensure that VA buyers remain active participants in the real estate market to achieve the American Dream of homeownership.”

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Mortgage Rates below 7%???

‘Unexpected Windfall’: Mortgage Rates Fall Below 7% for the First Time in Over a Month

  • Lower mortgage rates mean that buyers feel that getting a mortgage is more affordable. That means more buyers are entering the market. More buyers entering the market means more competition for available homes. Now is a great time to consider options for selling!

“Earlier in May, we saw sellers—many of whom are themselves buyers—cautiously pull back from listing their homes as mortgage rates increased and growth in new listings decelerated,” says Speianu. “However, mortgage rates have once again continued to soften this past week after several weeks of growth. In response to rates resuming their decline, more home sellers opted to list their homes for sale as growth in new listings picked up the pace once again.”

https://www.realtor.com/news/real-estate-news/mortgage-rates-fall-below-7-percent-housing-stats-week-5-23-2024

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Market Stats – May 15, 2024

Market stats for the Counties of the Pioneer Valley, May 1 – May 15, 2024

It’s a good time to buy or sell in the Pioneer Valley!

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