Goody's Blog
 
August 11th, 2017 By Goody
Mesquite Nevada July Building Permits HUGE

The city of Mesquite Building Department issued 142 permits in total in July 2016  vs the 117 issued this July.  Subtract 48 of last years permits (rennovation at Sandstone Condos) and the real numbers are 117 permits this year vs 98 last July.  The city issued Pulte Homes of Nevada, who builds all the new homes in Sun City, 17 permits. So far this calendar year, Pulte has taken out 92 permits for single family home construction.

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August 10th, 2017 By Goody
Mortgage Forecast
Despite lower Stock prices and the ongoing tensions between the U.S. and North Korea, Mortgage Bond prices are near unchanged this morning.  Wholesale inflation, as evidenced by the Producer Price Index, was tame in July and also failed to light a fire under Bond prices.  With Mortgage Bond prices at their best levels since November and mortgage rates at the lows for 2017, I am recommending locking
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July 23rd, 2017 By Goody
Mesquite Home Values Up
In the 89027 zip code home values have gone up 8.2% over the past year and Zillow predicts they will rise 6.1% within the next year. The median list price per square foot in 89027 is $146. The median price of homes currently listed in 89027 is $239,000.  Sun City Mesquiite 89034 has slighlty different stats and not reflected in these numbers.
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July 21st, 2017 By Goody
National Park Senior Pass Going up from $10 to $80
For those Seniors 62 and over and living in Mesquite having one of these passes is a must.  We are so close to so many National Parks.  Starting Aug. 28, the cost of a lifetime Senior Pass will increase from $10 to $80.  So get yours now!!
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July 19th, 2017 By Goody
June Building Permits, Numbers not seen in recent memory.

The Mesquite Building Department issued 42 permits for new homes in June 2017 compared to 19 permits issued in June 2016.  During the first six months of 2017, the city has issued 175 permits for new home construction vs 99 permits in the first six months of 2016.  Resale numbers are equally strong.  Contact Goody for more information.

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July 8th, 2017 By Goody
Mesquite Nevada Building Permits Soar
The June report is out and the Single Family Building (SFB) Permits have about doubled both for the month and Year to Date (YTD).  In June 2017 there were 42 Permits issued vs 19 for June 2016.  The YTD numebers show 175 Permits for SFB being issued in 2017 vs 99 Permits YTD in 2016.   Catch the wave and call Goody!!!  Now is the time to buy.
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June 15th, 2017 By Goody
Fed raises rates as expected—what to expect?

Federal Reserve Chair Janet Yellen and her colleagues voted to raise the key overnight lending rate another quarter percentage on Wednesday, moving the target rate range from .75% – 1.00% to 1.00% – 1.25%. Most analysts had been predicting the hike since the previous increase in mid-March, so equities and bond markets had priced in the news well before it hit.

Last week, mortgage rates were at their lowest levels of the year, perhaps in part due to employment data and mounting distractions in Washington. By Thursday morning, it was evident that the Fed’s decision wasn’t having a drastic impact on the downward trend. Though mortgage rates were slightly higher than last week according to Freddie Mac, the 30-year fixed rate average of 3.91% is nearly 40 basis points off its mid-March peak. Over the same time period, the 15-year fixed rate tumbled from 3.50% to 3.18%, and 5/1 ARM rates dropped from 3.28% to 3.15%.*

Looking forward, the Fed has not backed off its forecast to raise rates once more in 2017, though inflation projections will primarily guide them in the eventual decision. Another factor playing into a future increase is the Fed’s hefty $4.5 trillion balance sheet that’s over-stuffed with mortgage-backed securities. The plan is to divest a significant portion of this cache sometime in 2017, and Yellen and friends have to know that markets can’t handle another 25 basis-point rate hike in the midst of a huge sell-off. Good news for the bond market is coming out of China, which recently announced that it would be buying long-term U.S. notes once again after selling a record $200 billion in bonds last year.

Despite the current political environment in Washington, the stock market continues to soar and investors remain undeterred. The prospect of a comprehensive tax reform that was priced into the market after the election is likely at least a year away, but stocks haven’t corrected in response to the uncertainty defining the current administration’s agenda.

Despite the recent rate hike, homebuyers and those looking to refinance would be wise to take advantage of mortgage rates that are still hovering at or near yearly lows.

*FreddieMac.com, “Compilation of Weekly Survey Data”

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June 14th, 2017 By Goody
Building Permits Up Again in May
Mesquite continues its torrid pace with Home Builders taking out 25 permits for single family residences last month. That’s nine more permits than May 2016!   The market is still red hot along with our temperatures.  
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May 31st, 2017 By Goody
Mortgage Forecast
Here is a quick update on how things are looking in the market place. The Mortgage Bankers Association reports that mortgage rates were unchanged in the latest week and remain just above all-time lows.  In housing news, Pending Home Sales in April declined from March and are lower than last year this time, mainly due to a limited inventory of homes for sale.  With rates at favorable levels and Mortgage Bond prices at six-month highs, locking is recommended
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May 12th, 2017 By Goody
Building is Booming in Mesquite Nevada
25 permits for single family residences at $5.538 million were issued in April 2017. Pulte Homes (Sun City) 12 and Construction West (Royal Vista) 5, took out the most permits this month. Since January Pulte Sun City has taken out 45 permits! The highest valued was $365,352 and the lowest valued was $143,364. April 2016 saw 19 permits issued at $4.439 million.
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