Which events and announcements could move the market this week?
The following events, announcements, and reports could have an impact on the mortgage market this week:
Monday, August 21st
None scheduled
Tuesday, August 22nd
Existing home sales – July 2023
Wednesday, August 23rd
S&P flash U.S. services PMI – August 2023
S&P flash U.S manufacturing PMI – August 2023
New home sales – July 2023
Thursday, August 24th
Fed officials interviews from Jackson Hole summit
Initial jobless claims – August 19th
Durable goods orders – July 2023
Durable goods orders minus transportation – July 2023
Friday, August 25th
Chairman Powell speaks at Jackson Hole summit
UMich consumer sentiment, final – August 2023
Which areas are real estate investors looking to get into?
Just because rates and home prices are a bit elevated right now doesn’t mean that real estate investors are staying on the sidelines. There are several metro areas that are seeing population growth, increased rental demand, price appreciation, or a mix of the three.
According to a recent report from CoreLogic, smaller investors are heading into the real estate investment market, while larger firms have stayed on the sidelines. Where are they buying? California, Texas, and the Atlanta metro area are among the most popular areas for investors to buy into in the current housing market.
Thomas Malone, an economist at CoreLogic, stated, “The one that’s a bit of a head-scratcher, is California’s large presence. All the others make sense as these have been hot real estate investment areas that have been hot for a very long time in terms of investment. California is a little funny because it doesn’t meet the growing-population, high-appreciation period.” The best guess from Malone is that drops in property prices have lead to increased investment in California.
What do the oddest properties on the housing market look like?
Not every property listed is an ideal single-family home. A few properties are unique listings that are looking for a niche buyer. The Real Deal has found five of the most unique properties currently listed. From a 25-acre winery in Connecticut to a literal wall, there are a few properties available that could provide the ideal home to the right person.
The wall mentioned is literally just a wall that was purchased in an auction over 60 years ago. It’s been handed down through inheritance and is currently listed at an ambitious $50,000.
The winery currently listed offers a working winery in Goshen, CT that can be had for only $2.4 million. It has all the necessary equipment in place and has five acres dedicated to wine-producing grapes.
Also making the list is a windmill. An actual windmill. Located in Buckinghamshire, England for roughly $11.5 million, the property has a windmill that appeared in the 1968 film Chitty Chitty Bang Bang, but it also comes with 37 acres, a main home, and a swimming pool.
Pre-Approval
in 10 minutes?
in under 10 minutes. Grab a few important documents to get started.
- Tax Returns
- Copies of W-2s (or 1099s for independent contractors,
freelancers and the self-employed) - A payroll stub
- A bank statement
- Loan obligation info (student loans,
auto loans and credit cards)
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.
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