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March 17th, 2023 8:29 AM
Mortgage buyer Freddie Mac reported Thursday the average on the benchmark 30-year rate fell to 6.60% this week from 6.73% last week; a year ago it was 4.16%. The rate for a 15-year mortgage, popular with those refinancing their homes, edged down to 5.9% this week from 5.95% last week; it was 3.39% a year ago.

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

For Sale Cape May County Real Estate

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Posted by James M. Hanson on March 17th, 2023 8:29 AMLeave a Comment

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October 21st, 2022 9:26 AM
Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market. The National Association of Realtors said Thursday existing home sales fell1.5% last month from Augustto a seasonally adjusted annual rate of 4.71 million.That’s slightly higher than what economists expected, according to FactSet. Meanwhile, Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate tickedupthisweek to6.94%from6.92%lastweek. Last year at this time, the rate was 3.09%. The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, jumped to 6.23% from 6.09% last week.

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net
For Sale Cape May County Real Estate

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce



Posted in:General
Posted by James M. Hanson on October 21st, 2022 9:26 AMLeave a Comment

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Myth: The value that is assessed by the appraiser will be exactly the same as the market value.
Reality: While most states uphold the idea that assessed value equates estimated market value, this often is not the case. Interior reconstruction that the assessor is unaware of and a dearth of reassessment on nearby houses are prime examples of why the price can vary.

Myth: Depending on whether the appraisal is provided for the buyer or the seller, the opinion of value of the house will vary.
Reality: There is no personal interest on the part of the appraiser in the result of the analysis, therefore he will complete his work with impartiality and independence, regardless of for whom the appraisal is ordered.

Myth: The replacement value of the house is always in line with the market value.
Reality: The way market value is found is based on what a home buyer would likely pay a willing seller for a home without being under duress from any outside party to purchase or sell. If the property were reconstructed, the dollar amount necessary to do so would make up the replacement cost. Read More Here

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

Cape May Real Estate For Sale




Posted in:General
Posted by James M. Hanson on October 4th, 2022 8:19 AMLeave a Comment

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December 31st, 2021 8:06 AM
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11% this week from 3.05% last week. A year ago, the 30-year rate stood at 2.67%. The average rate on 15-year, fixed rate mortgages, popular among those refinancing their homes, rose to 2.33% from 2.3% last week. It was 2.17% a year ago.

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce

Posted in:General
Posted by James M. Hanson on December 31st, 2021 8:06 AMLeave a Comment

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September 24th, 2021 8:08 AM
Median residential rental prices increased 11.5% year-over-year in August, with 28 of the 50 largest U.S. metros seeing rents skyrocket — some by as much as 30.6%, Realtor.com reported Sept. 16. Alternatively, rents have declined in big tech hubs like New York City, Boston and San Francisco. > FULL STORY

For all your Residential and Commercial Real Estate Sales & Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: jimhanson1@comcast.net

Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce




Posted in:General
Posted by James M. Hanson on September 24th, 2021 8:08 AMLeave a Comment

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