What to Do When Interest Rates Are Rising

Interest Rates Are Rising - man hiding head under laptop - deposit photos

What To Do When Interest Rates Are Rising

Interest rates are rising, and it’s the talk of the town right now. Yes, they have gone up. But they also have been historically low. When I first got my license, the interest rates for many of my buyers was over 4%. About 20-30 years ago, interest rates were much higher at times, 9%, 12%, 14% were not uncommon numbers to hear. It wasn’t until after 2010 that rates were mostly below 5%. So even though we are experiencing a rise in rates, given the historical perspective, they are still way below the rates that we were seeing in the 1980’s, 1990’s, and early 2000’s.

What does this mean for the average buyer? Every time the rate goes up, the buying power is reduced. Especially for first-time buyers who usually have less money to put as a down payment and need more money from a lender to help purchase their first home. But if you look at the last few decades, even rates of 4%-5% are still low compared to what we saw in the last few decades.

So, if buying a home is on your to do list and interest rates are rising, get pre-approved with a reputable lender as soon as you can, start your search, and then when you go under contract you can “lock in” your interest rate for a period of time. Don’t forget to ask your Realtor and lender what first-time homebuyer benefits they might be able to use. In D.C. there are programs such as DC Opens Doors, HPAP and EAHP. Maryland and Virginia have their own programs for first-time buyers, or sometimes they offer tax breaks for qualified buyers. The important thing is to have experts in real estate and lending to advise you as you make your first move into the real estate market.

Full Story From Joseph Hudson at the Washington Blade

Improving Your Home – The Washington Blade

remodeling / improving your home - Washington Blade

Improving Your Home Before Selling

What are some of the things I am seeing my clients doing lately to improve the functionality and value of their homes? Improving your home can be done in ways both big and small.

I have one client who is turning a dining room with an attached full bathroom into an extra bedroom. He has a large living area to entertain in and thinks the space would be better used as a bedroom. Another client of mine has removed the popcorn ceiling from her condo just because it drove her crazy.  Another is considering installing a home office along one wall, instead of just a desk — basically wants to construct an installed desktop/countertop with attached cabinets and drawers, and enough outlets for devices, charging and screens.  

Another set of clients has installed a wall full of bookshelves and has turned an extra bedroom into an office where the bookshelves will live. I am seeing basement renovations, installations of washrooms, additional bathrooms in lower levels and reducing the size of a lower-level garage to include more living space, since there is also off-street parking in the driveway.

Other projects clients have tackled include painting, replacing damaged floors with new hardwood floors, ordering custom built islands for their kitchen with extra storage space, adding fun wallpaper for accent walls, replacing the HVAC system, ripping out carpets in living areas and replacing them with hardwood floors.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Authored By Joseph Hudson
See the Full Story at the Washington Blade

Joe Galvan – Rancho Cucamonga Gay Mortgage Lender

Joe Galvan - Rancho Cucamonga Gay Mortgage Lender

Rancho Cucamonga Gay Mortgage Lender

I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. Over 19 years in mortgage banking, I offer the expertise and knowledge, and will make sure you understand the features associated with the loan program you choose and that it meets your unique financial situation.

As a Rancho Cucamonga gay mortgage lender, I’m able to offer a large variety of home loan programs, including non-traditional financing, and always available to be reached including evenings and weekends. And I will extend the same professional service to your friends, family members, work colleagues or neighbors who need help.

If you’re looking for someone friendly to help finance or refinance a home, give me a call!

See Joe’s Expanded Listing on Gay Realty Network Here

Rancho Cucamonga Gay Realtors and Real Estate Professionals

Brandon R. L. Scott – Metro Detroit Gay Realtor

Brandon R. L. Scott - Troy Gay Realtor

Metro Detroit Gay Realtor & Lifelong Resident

My name is Brandon R. L. Scott, I am a PREMIER real estate agent, since 2014, and most importantly, a Metro Detroit gay REALTOR ®. I am also a life-long resident of the area and it is my passion to help Sellers, Buyers, Landlords and Tenants.

My main service area include the greater Metro Detroit Metropolitan area including Oakland, Macomb and Wayne Counties, among others! I am not the average cookie cutter real estate agent. Rather, I custom tailor my business to each individual client(s) needs, operating with integrity and your best interest in mind, above my own.

I have experience ranging from multi-million dollar transactions to those of a delicate natures such as an estate or the loss of the loved one. Let’s connect and have a conversation today! We are a team and as a team, you need to feel comfortable with me. I never want anyone to feel pressured into any type of situation. My vision is all about YOU!

See Brandon R.L. Scott’s Expanded Listing on Gay Realty Network Here

Detroit Gay Realtors and Real Estate Professionals

Patricia Chiarelli – Ottawa Lesbian Realtor

Patricia Chiarelli - Ottawa Lesbian Realtor

Five Star Ottawa Lesbian Realtor

Patricia Chiarelli is a native of the Ottawa region and an Ottawa lesbian Realtor, and currently lives Downtown with her wife (Claudia), daughter (Sophia) and two dogs (Oliver and Marley). After graduating from Notre Dame High School, Patricia obtained a Business Degree with a major in Marketing.

Patricia’s parents immigrated to Canada and landed in this city, saved their money and purchased properties throughout the years. Patricia keenly learned from them and at age 26 purchased her first property. From there, she purchased and sold many properties, slowly building equity allowing her to establish her current portfolio of rental properties. What she enjoys most is using this knowledge to work with buyers and sellers who are at all stages—from beginners to savvy investors.

During Patricia’s free time, she enjoys going for long walks, biking and spending quality time with her family and friends.

See Patricia Chiarelli’s Expanded Listing on Gay Realty Network Here

Ottawa Lesbian Realtors and Real Estate Professionals

Adam Gaudet – Concord Gay Realtor

Adam Gaudet - Concord Gay Realtor

Concord Gay Realtor Covering All of New Hampshire

Our Broker, Adam Gaudet, is a Concord gay Realtor and the 2022 New Hampshire Association of REALTORS President, and serves on their Board of Directors as well as their Executive Committee. At the National Association of REALTORS, Adam serves as the Federal Political Coordinator for Congressman Pappas.

Adam has fought for equal access to fair housing— he has met with members of Congress on Capitol Hill to demand that sexual orientation and gender identity be included in the Fair Housing Act. Adam was named REALTOR of the Year in 2019 by the Seacoast Board of REALTORS.

Adam’s volunteer activities include serving on Stay Work Play’s Advocacy Committee, serving on the Greater Derry Londonderry Chamber of Commerce’s Government Affairs Committee, involvement with Greater Concord Chamber of Commerce and Intown Concord, actively raises funds for End 68 Hours of Hunger, helps organize the REALTOR Day of Caring, and sponsors many local community events with 603 Birch Realty.

See Adam Gaudet’s Expanded Listing on Gay Realty Network Here

Concord Gay Realtors and Real Estate Professionals

Chet Shaw – Las Vegas Gay Realtor

Chet Shaw - Las Vegas Gay Realtor

Las Vegas Gay Realtor
Representing Buyers and Sellers

My partner and I moved here from the San Francisco Bay Area in 2008, and I’ve been licensed as a Las Vegas gay Realtor since 2012. 

I enjoy providing my services to clients who are in the process of buying or selling their houses.

I have an SRES designation (Seniors Real Estate Specialist) which allows me to assist seniors in housing sales and purchases. I have a wide network of other senior-focused professionals who can assist the clients. 

Probate properties require a level of understanding and expertise when dealing with the decedent’s estate and their administrators or executors of the families. I work closely with estate planning/probate attorneys throughout Clark County .

See Chet Shaw’s Expanded Listing on Gay Realty Network Here

Las Vegas Gay Realtors and Real Estate Professionals

David Kerr – Sonoma Gay Realtor

David Kerr - Sonoma Gay Realtor

Somoma Gay Realtor Working to
Earn Your Complete Satisfaction

I am a Bay Area native and a Sonoma gay Realtor, born in San Francisco and raised in Berkeley in the 60’s where I was immersed in music and the arts, hanging out at People’s Park, living first-hand through the political and social revolutions that emanated from the bay area.

I lived in Mexico City briefly, studying language and culture, before attending U.C. Berkeley where I studied Anthropology, Archeology and Art history, earning a degree in the history of Art. My favorite classes were on American Architecture which helped me understand how a house becomes a home.

In 1989 in entered Real Estate, and have survived the major ups and downs of the marketplace, never losing sight of my passion.

See David Kerr’s Expanded Listing on Gay Realty Network Here

Sonoma Gay Realtors and Real Estate Professionals

Pete McGahan – St. Petersburg Gay Realtor

Pete McGahan - St. Petersburg Gay Realtor

St. Petersburg Gay Realtor and
Accredited Buyers Representative

I am a full service St. Petersburg gay Realtor, ready, willing and able to help you buy or sell a home in the Tampa/St. Petersburg area.

I can help you sell your home from the day you list your place with me all the way through the home closing process and beyond. I will help you prepare your home to sell, with the marketing of your home, showings, and I will work with the buyers and their agents to make the process as smooth as possible.

Whether you’re a first time home buyer, are looking for a second home, or are an investor, I can help you sort through the local real estate market. I will help find you the right homes to choose from, guide you through the decision process and follow you all the way to closing, and beyond.

I’m a member of the National Association of Real Estate Agents, Florida Association of Real Estate Agents, Pinellas Real Estate Agents Organization, and St. Petersburg Preservation Society. I am also a Certified Short Sale and Forclosure Resource. I work with homes in St. Petersburg, Clearwater, Seminole, Pinellas Park, and all the beach communities in Pinellas County. I will provide you with fantastic customer service.

See Pete McGahan’s Expanded Listing on Gay Realty Network Here

St. Petersburg Gay Realtors and Real Estate Professionals

Is the US Housing Market Slowing Down? – Bloomberg

Boise - Deposit Photos

No city exemplifies the mania of the Covid-era U.S. housing market better than Boise, Idaho, where prices have surged by more than 30% in the past year. But in a sudden reversal, buyers are now the ones with power.

Asking prices for houses are being slashed. Bidders no longer have to waive inspections to win over sellers juggling multiple offers. Demand has slowed so much it’s like a light switch suddenly turned off, said Dominic Zimmer, a local Realtor.

“You’re seeing the fear of missing out switching from buyers to sellers,” Zimmer said. “Now sellers are afraid of not scoring the way they saw their neighbors do a year ago.”

Is the US Housing Market Slowing Down?

The cracks in one of the nation’s hottest housing markets mark an early signs of the housing market slowing down. That the US boom — fueled by low mortgage rates and remote-work moves — is losing intensity. While much of the country is still seeing record price increases and plunging listings, in some destinations builders who could hardly put up homes fast enough now have inventory sitting.

Full Story From Bloomberg