Home Sales Surge to Best Levels in 14 Years!

Existing home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, town homes, condos, and cooperative apartment were at a seasonally adjusted annual rate of 

The August numbers came on top of a 24.7 percent rise the prior month and 20.7 percent growth in June. Since May, when the market began to recover from its 3-month long pandemic related tailspin, the pace of sales has risen by 2.2 million units.

Analysts had been bullish in their forecasts for the August numbers and didn’t miss by much. Those polled by Econoday had expected sales in the range of 5.56 million to 6.44 million with a consensus of 5.97 million units.

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market,” said Lawrence Yun, NAR’s chief economist. “Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3 percent and with continued job recovery.”

Sales of single-family homes was at a seasonally adjusted annual rate of 5.37 million in August, up 1.7 percent from 5.28 million in July, and 11.0 percent from one year ago. Existing condominium and co-op sales were recorded at a seasonally adjusted annual rate of 630,000 units representing growth of 8.6 percent and 6.8 percent from the two earlier periods.

Valor lending Group features every loan in the book. Interest rates are the lowest in history. Call, text or email me for immediate attention to your loan scenario.

Recap of our Loan Products:

1. Stated Income Loans (No Tax Returns, no W-2s, No P&L) up to $3M

2. Bank Statement Income Loans (Great Bank Statement Programs for business owners and self-employed)

3. Hard Money Loans (As low as 20% down / minimal documentation) Fund in 7-10 days.

4. Flipper Loans (Flip a property with one of our many options) up to 90% leverage

5. Commercial Line of Credit

6. 100% Financing (cross collateralize- hard money)

7. Foreign Nationals Loans (no social security or residency required)

8. Raw Land & Lot Loans

9. Ground up Construction for spec homes, custom homes and commercial ground up to $500M.

10. 2nd Position Loans up to $5M

11. Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow

12. Farms, Vineyards, Ranches and Agricultural Properties (20-30% down)

13. 10% down Jumbo’s with NO MI up to $2M

14. Manufactured Housing / Mobile Homes (20% down / 620+ credit score)

15. Acreage Properties

16. Commercial Loans up to $500M

17. 5% down Jumbo (Up to $2M Lender paid PMI)

We also offer:

1. 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $484,350)

2. High Balance Conforming aka Super Conforming (from $484,350-$726,525)

3. Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm

4. FHA, VA, USDA

5. ARM’s

6. Reverse mortgages up to $10 Million Value

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