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Gerald Lucas

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3 Tips To Save On Home Expenses, Why You Should Never Skip The Oil Tank Scan, Housing Inventory Changes

January 17, 2023 Gerald Lucas

3 Tips To Save On Home Expenses

Real Estate Tip:

Always pay for a tank scan to check for underground oil tanks during your purchase contract's inspection period when you buy property.

Real Estate Insight:

Housing inventory in the US decreased 6.6% in November from October but was up 2.7% from a year ago.

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Tags Gerald Lucas, real estate tips, real estate strategies, light bulbs, Energy Star, thermostat, laundry, cold water, hot water
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When Will Mortgage Rates Go Down?, The Perils Of Overpricing, Mortgage Delinquencies Surge

January 10, 2023 Gerald Lucas

When Will Mortgage Rates Go Down?

Real Estate Tip:

Overpricing a property reduces its selling price-it inevitably ends with price cutting & a weak negotiating position. The longer a property stays on the market, the less it will sell for. The key to selling a property for top dollar is pricing it correctly in the 1st 30-45 days it's on the market.

Real Estate Insight:

In November, approximately 1.6 million homeowners were more than 30 days past due on their mortgages, leading to a national delinquency rate of just over 3% which represented a 3.5% increase from October's total, while loans 60 or more days late saw an 11% surge.

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Tags Gerald Lucas, real estate tips, real estate strategies, mortgage rates, Freddie Mac, forecast
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What The HMI Tells Us About The Real Estate Market, How Long You Should Get A Guarantee On A New Roof?, Home Sales Fall Again

January 3, 2023 Gerald Lucas

What The HMI Tells Us About The Real Estate Market

Real Estate Tip:

Always get at least a 5 year guarantee on a new roof before you make the final payment on it.

Real Estate Insight:

Home sales fell .5% in October compared with September.

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Tags Gerald Lucas, real estate tips, real estate strategies, Housing Market Index, HMI, home buyers, single family home sales
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