Kim Jungles at Atlantic Coast Mortgage

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Loan Officer | NMLS ID #1690401

Quick Market Update: Where are we???

The media is reporting that available homes for sale is ⬆️ 18.7% over last year.

Let’s put that data into perspective.
As you can see from the graph, supply is up, but nowhere close to the normal amounts of 2017-2019…..

So, this should continue to support current home values, while also making it a much easier market for buyers now.

ALL GREAT NEWS!!! 🎉🎉🎉

Lender Secrets Revealed!

Lender Secrets Revealed! Kim Jungles from Atlantic Coast Mortgage is telling all!I recently sat down with my friend, and lender referral partner, Kim Jungles to talk about buyer stra...

This graph gives a great visual of what's going on in the housing market right now. 🏡Homes are staying on the market for the least amount of time in the last 20 years. Just know we have strategies to help you win in this challenging market! 🙌

America is short more than 5 million homes, and builders can't make up the difference

https://www.cnbc.com/2021/09/14/america-is-short-more-than-5-million-homes-study-says.html

America is short more than 5 million homes, and builders can't make up the difference The supply of homes for sale is near a record low, and the gap between supply and demand is widening as homebuilders struggle to keep up.

If you have not refinanced your 🏠 in the past 12 months, please pm me. I would love to do a free mortgage review to see if it’s beneficial for you.

MORTGAGE IQ

Why You Need a Property Title Search

Buying a home is an adventure. One of the most thrilling times in life; it can also cause some stress. When purchasing a home, most people think the seller is authorized to sell the property; however, a claim or lien on the home could get in the way. That's where a property title search comes into play. The title search allows you to verify the home's legal owner and can also reveal if there are any claims or liens on the property. While not a deed, the title is your reference to ownership rights. When seeking financing, the search will be required by the mortgage lenders. A title company or attorney will be able to perform the property title search on the home. -realtytimes.com

HUD Aims to Boost Homeownership for Buyers With Higher Student Debt

GREAT news for those carrying student loan debt and wanting to qualify for a mortgage!

https://www.wsj.com/articles/hud-aims-to-boost-homeownership-for-buyers-with-higher-student-debt-11624008602?st=he737r6t9cor99w&reflink=article_copyURL_share

HUD Aims to Boost Homeownership for Buyers With Higher Student Debt A relaxed student-loan calculation will likely qualify more Black and Hispanic buyers for federal government-backed loans.

In the Village of Middleburg ✅ (close to wineries!!!)
1/4 acre beautiful lot ✅
Well-maintained ✅
Single-family over townhouse- ALL day long 😍
Open House today, Sunday 1-3 6/13 ❤️❤️

Searching for some first-time homebuyer tips? You know I've got you covered!😊

1️⃣ Get Pre-Approved* before starting your home search

2️⃣ Know your budget and a monthly payment comfortable to you

3️⃣ Find out if you qualify for down payment assistance*

4️⃣ Ask your lender about low down payment options

5️⃣ Budget for closing costs and other expenses

6️⃣ Do not apply for credit or other major purchases before closing

Have any questions? Schedule a call with me today at: https://calendly.com/kimjungles/30-minute-meeting-with-kim 💚

Just got this question: "Kim, when is this crazy market going to end?"

Wanted to share my answer to help anyone that is curious:

Experts think that the housing market will remain hot, or at least steady, even after Covid-19-related demand fades.

Because of these factors:

1) Millennials, the largest generation is just coming into their buying years.

2) Mortgage companies are continuing to shun loose lending strategies that were one of the main culprits of the 2008 meltdown.

3) Homeowners are staying in their homes longer.

4) Rising prices help the people that may not be able to afford their mortgage payments, because they can sell, rather than foreclose.

5) And then the biggest one: There just aren't enough homes for people to buy. New home builders didn't build enough homes over the last decade or so.

Here is a graph to help visualize how few homes were recently built.

Top 🔟 reasons why YOU, your neighbor, your co-worker and your 2nd cousin 🤪 aren’t getting quoted the same mortgage rates!!

🔟 - you obtained rate quotes on different days. Same day quotes are imperative!
9️⃣ - different credit scores
8️⃣ - different loan amounts
7️⃣ - different loan types: CONV, USDA, FHA, VA
6️⃣ - different loan needs: purchase vs. refi
5️⃣ - If refinancing—cash out vs. non cash out have different rates
4️⃣ - Is it an investment home, primary home or vacation home
3️⃣ - they paid points to get “said low rate” - and often didn't know
2️⃣ - different loan terms. 15,20,25,30 year can all vary in rates.
1️⃣ - different debt to income and loan to value ratios

If you want a real-time, honest and super competitive rate quotes on your next refinance or 🏡 purchase, please let me know.

And as always, if you have any mortgage related questions—I am here to help!

I just read a study from the National Association of Realtors that said: By the time someone is 30 years old they have paid an average of $100k in rent.
That's insane when low down payment options are available!

Reach out if you are planning to buy a home next year. No need for you to invest in someone else’s future. Let me help you invest in yours!

Homes for Sale, Mortgage Rates, Virtual Tours & Rentals | realtor.com®

6/26/2020 Market Update

Bidding War During the Pandemic

A new study from Clever revealed that 42% of homebuyers who made a purchase during the January to May time period ended up in a bidding war, demonstrating the strong demand for homes amid low inventory. In addition, the study showed the strains caused by COVID-19 shutdowns, which resulted in record-breaking numbers of workers filing for unemployment. According to Clever, 59.29% of homeowners who purchased their home before the World Health Organization declared the pandemic said that someone who typically contributes to housing costs lost their jobs during the pandemic. Meanwhile, those who purchased their home since March (50.48%) were less likely to have lost a job, while stimulus check payments contributed to down payments for 21.1% of homebuyers. Clever said that 84% of homebuyers who purchased their home before April 28th were able to pay their mortgage in full. Of recent homebuyers, 55% said they’re paying their mortgage in full, but only 45% are able to pay if a financial contributor has lost their job.1



Retail Sales Partially Bounce Back as the Economy Reopens

Retail sales and food services rebounded in May from the steep declines seen in March and April, recovering almost two-thirds of the previous months’ declines, according to the Census Bureau. Motor vehicle sales jumped 44.1% and sales at gas stations rose 12.8%. Sales at building supply stores jumped 10.9%, a positive sign for residential fixed investment. Core retail sales (excluding food services, auto, building supplies, and gas stations) rose 11.0%, the largest increase in series history. This was driven by large increases in sales at clothing stores, non-store retailers, and furniture stores.2



Purchase Applications Reach Highest Levels in 11 Years

A seasonally adjusted index measuring purchase applications jumped 8% last week, according to a report from the Mortgage Bankers Association. While the week prior saw the seasonally adjusted index rising to its highest level since January, this week the MBA reported the highest level in over 11 years. Just as mortgage applications increased, applications for refinancing’s also rose 10% from the week prior, signaling the second gain for refinancing in two months. “The housing market continues to experience the release of unrealized pent-up demand from earlier this spring, as well as a gradual improvement in consumer confidence,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.3



Pandemic Spurs Interest in Backyard Coops

Google searches for backyard coops to raise chickens reportedly have been on the rise since the beginning of the COVID-19 pandemic. Homeowners are exploring ways to have access to fresh eggs in a time when visiting the grocery store has become more stressful and food shortages grow. “Interest in some of my chicken articles has gone up over 500% since the end of February,” livestock expert Shelby DeVore, founder of Farminence, told realtor.com®. “I’ve also had a huge response from people reaching out and looking for advice.” Chickens are affordable and relatively low-maintenance, and don’t require a lot of space, DeVoer says. “It’s a great way to become a little more self-sufficient without committing to an all-out homestead or completely self-sufficient lifestyle.”4

Sources: 1HousingWire, June 17; 2Fannie Mae, June 18; 3HousingWire, June 17; 4National Association of Realtors®, June 18

Homes for Sale, Mortgage Rates, Virtual Tours & Rentals | realtor.com® Search real estate for sale, discover new homes, shop mortgages, find property records & take virtual tours of houses, condos & apartments on realtor.com®.

In partnership with World Central Kitchen, I've pledged to make a donation for each loan closed, and ACM has also pledged to match my donation by 100%.

If you would like to partner with us, you can help us spread the word by simply referring clients, friends, and family who are currently in the market to purchase, build, or refinance a home.

BUSY '20?
The U.S. housing market is poised for a brisk year. In CoreLogic's latest Home Price Insights report, Chief Economist Dr. Frank Nothaft said, “The latest U.S. index shows that the slowdown in home prices we saw in early 2019 ended by late summer. The decline in mortgage rates has supported a rise in sales activity and home prices.” CoreLogic predicts home prices will rise 5.3% year-over-year by November.

RATE RANGE
Mortgage interest rates have hovered in a limited range for the last two months according to Freddie Mac. In its Primary Mortgage Market Survey for the week ending January 2, Freddie dubs the activity "welcome news after the interest rate turbulence of the last year, which caused a slowdown in the housing market," and declared that "the low mortgage rate environment combined with the red-hot labor market is setting the stage for a continued rise in home sales and home prices."

RISING RENTS
Average rent rose nationwide according to January's National Rent Report from Zumper. Rent for a one bedroom rose .4% in December to $1,217 per month, while average rent for a two-bedroom increased .1% to $1,440. In its survey of over 1 million active rental listings, Zumper says the majority of large rent growths nationwide occurred in the mid to lower tiered markets.

Happy Closing Day! Congratulations to Aaron and Melissa on the purchase of their first home! Amy Cummings Casciano you were a joy to serve with!

Curious as to what interest rates are doing? Here’s the last 30 days. Questions? Ask me!

I’m here to help you understand credit scores and how they influence the mortgage process. It’s not as scary as you think! What is holding you back from discovering the path to better credit?

Happy Closing Day! And Welcome Home!

Timeline Photos

Join us tomorrow!




- http://www.acmllc.com/kim-jungles

Crazy busy in a good way! Live today with the amazing Brianna Goetting at her incredible Coming Soon! Two closings and off to watch my boy lax it up this evening!