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Official Conforming Loan Limits for 2023!!!

Conventional loan limits are increasing for 2023! According to the Federal Housing Finance Agency, the conforming loan limits will rise from this year’s limit of $647,200 to $726,200 for 2023! (and if you are a buyer in Alaska, Hawaii, Guam, the U.S. Virgin Islands or other high cost areas... that number is $1,089,300!) That means borrowers may be able to afford a higher priced home with a lower down payment! This marks the seventh straight year that the FHFA has increased the conforming loan limits after not increasing them for an entire decade from 2006 to 2016. Give me a call or text if you want to talk about it or think you have someone who may benefit from the increase. I'd love to chat with you!

Price Drop vs Permanent Buy Down vs 2/1 Buy Down

Realtors, you know it’s coming if you haven’t already done so. A 2/1 buy-down is a benefit all around to the agents, sellers and buyers. This will make the listing more attractive and save the buyer a lot of money the first two years with little cost to the seller.

Fed Raises Interest Rates by 0.75 Percentage Point for Third Straight Meeting

WASHINGTON—The Federal Reserve approved its third consecutive interest-rate rise of 0.75 percentage point and signaled additional large increases were likely even though they are raising the risk of recession. Fed officials voted unanimously to lift their benchmark federal-funds rate to a range between 3% and 3.25%, a level last seen in early 2008. Nearly all of them expect to raise rates to between 4% and 4.5% by the end of this year, according to new projections released Wednesday, which would call for sizable rate increases at policy meetings in November and December. “We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” Fed Chairman Jerome Powell said at a news conference after the rate decision. Stock markets tumbled after a volatile trading day. The broad S&P 500 index fell 66 points, or 1.7%, to 3789.93. The yield on the two-year U.S. Treasury note settled around 3.993%, according to Tradeweb, from 3.962% Tuesday, nearly a 15-year high. Just after the Fed’s announcement, it had touched as high as 4.12%. Meanwhile, yields on longer-term Treasurys fell, since higher rates could lead to a sharper economic downturn. Officials projected that rate rises will continue into 2023, with most expecting the fed-funds rate to rest around 4.6% by the end of next year. That was up from 3.8% in their projections this past June. Analysts said they hadn’t expected the Fed to show quite so high an endpoint for the rate. Given how persistently elevated inflation has been, “I wouldn’t be surprised to see them go even higher than what they’ve written down—say, to 5%,” said Ellen Meade, an economist at Duke University who is a former senior adviser at the Fed. The projections showed considerable divergence over what might happen after next year. Around one third of officials expect to hold the fed-funds rate above 4% through 2024, while others anticipate more rate cuts. “There is a message here that rates will stay higher for longer, and this message is really sticking with market participants,” said Blerina Uruci, U.S. economist at T. Rowe Price. Even though the economy isn’t yet showing the full effects of Fed rate increases, “all of this volatility and uncertainty makes it hard for businesses to make plans. There are some benefits to having this hiking of interest rates over and done with sooner,” she said. One year ago, the Fed was signaling rates might stay near zero for another year, and it was purchasing Treasury and mortgage securities to provide additional stimulus. Officials misjudged the strength of the economy’s rebound from the pandemic and how high inflation would rise. They are now raising rates at the most rapid pace since the 1980s and have approved increases at five consecutive policy meetings, starting in March when they lifted the fed-funds rate from near zero. Until June, the Fed hadn’t raised rates by 0.75 point since 1994. Officials made a second such increase in July but signaled more concerns about overdoing rate rises, which, together with investor optimism about how quickly inflation might decline, fueled a market rally. Link to article: https://www.wsj.com/articles/fed-raises-interest-rates-by-0-75-percentage-point-for-third-straight-meeting-11663783397

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548 Hawken Dr

*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** Open Sun March 23rd 1-3pm. Welcome Home to your corner lot with stunning curb appeal located in the prestigious Coppell ISD, completely updated for new owners! Light & bright 3 bedrm, 2 & a half bath with 2 living & 2 dining areas! Large dining for family gatherings & causal living room with cozy fireplace off the open kitchen! Your updated Kitchen offers granite counters, new backsplash, stainless appliances, island, modern hardware, faucet & nice pantry. All flooring has been updated to hard surface. 2nd living area upstairs has a built in desk-study area. Laundry conveniently located upstairs. AC & furnace system less than 1 year old. Roof recently replaced. Enjoy your private backyard w 2 pear trees & covered patio, plus 2 car rear gar. Charming community of Deer Run offers easy access to everything incl hwy 121. Coppell ISD ranked #4 in DFW on niche. HOA covers front yard mowing! Seller offering $10k towards buyer's rate buy down with full price offer. Your new chapter has arrived.

3017 Eden Harbor Ct

*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** Immerse yourself in the epitome of luxury and modern living with this newly constructed masterpiece in the esteemed Eden Ridge community. This exquisite property boasts a harmonious blend of sophistication and comfort, spread across a generous 3,603 SF of living space, complemented by an additional unfinished 1,022 SF on the third floor, plumbed and ready for further customization. Featuring 5 lavishly appointed bedrooms and 4.5 elegant bathrooms, this home caters to both privacy and hospitality. The first-floor guest suite, alongside the second-floor primary and third bedroom suites, ensures ample accommodation for family and guests alike. The heart of the home is the gourmet kitchen, adorned with a KitchenAid pro-style 36'' 6-burner gas range top and a grand 9' long quartz island, making it a chef's delight. The butler's pantry and walk-in pantry add to the kitchen's functionality. The residence is also an entertainer's dream, with a vast game room on the second floor and custom-built cabinets framing the fireplace, creating a cozy yet elegant ambiance. Architectural excellence is evident with 10' ceilings on the first floor and an enhanced structure supported by 14'' steel I-beams. The seamless integration of indoor and outdoor living is showcased by the 12' x 8' sliding patio doors, leading to a large covered porch. This home is not only a haven of luxury but also a model of efficiency, featuring a NAVIEN high-efficiency tankless water heater, a hot water recirculation system for instant access, and readiness for electric vehicle charging. Nestled within Eden Ridge, this home promises an unparalleled lifestyle with its blend of urban walkability and suburban serenity, offering quick access to amenities and conveniences that cater to every need. Discover the perfect blend of luxury, convenience, and modern living in this exceptional Eden Ridge home.

405 Bedford Falls Lane

*** WATCH SPECIAL PROPERTY FINANCING VIDEO*** Great location, adjacent to greenbelt! Welcome home to this beauty, featuring wood flooring, an elegantly rounded staircase, tall windows with tons of natural light, tray ceilings, a gas log fireplace, and plenty of space for entertaining. Large kitchen with coffee station, walk-in pantry, dual sinks, granite counters, high-end gas cooktop, and double ovens. Large primary bedroom with ensuite bathroom on first floor, including a garden tub and separate shower, as well as a spacious walk-in closet. Nice open space upstairs that can be used as a game room, as well as one bedroom and a full bathroom, and don't forget the separate media room! CAT 6 wiring, and the Savant whole house automation system is included. 3-car garage is large enough for your truck. This home is in pristine condition and ready to be moved into! New roof and new fence in 2018, new carpet throughout in 2024. Located within the much sought-after Rockwall ISD.

Reviews

"10/10 service!!!! Wade and his team went above and beyond to make sure we closed on our home. With a few hiccups and hurdles in the last hour they did navigate each step efficiently. I would definitely recommend them to assist with anyone looking to obtain a loan. Thank you 👍🏼"

camellia valenciano

"Wonderful"

cynthia green

"In 2015 Wade and his team helped us get into our first home, fast forward 8 years things have changed and due to a divorce hard decisions had to be made concerning the ownership of the house. From the beginning, even though we’ve never met in person Wade and team has given me solid advice over the phone, through annual check in’s and monthly words of inspiration through emails. But the one thing that has stuck with me and I have begun using it in everyday life is when he recently told me. “I am going to tell you what you NEED to hear, not what you WANT to hear.” Going through a divorce isn’t easy but sometimes you need someone like Wade to guide you and even though this time he was not our broker he will always be there to tell me what I need when it comes to his expertise. This make’s me feel like I am a forever client of his and you can’t go wrong with Wade Betz and team. I move into my new house today and with his words of wisdom I feel like I’m “Winning!” Thank you, Wade and team."

adriana hernandez