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May 29th, 2020 8:14 AM

April saw a record collapse in Americans signing contracts to buy homes, the National Association of Realtors said Thursday, reflecting the economic damage from the virus that shut down wide swaths of business and social life. Pending home sales plunged 21.8% from March, the largest decline registered in data going back to 2001. The normally busy spring homebuying season has been upended. At the same time, home prices have been rising.



?For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

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

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Posted by James M. Hanson on May 29th, 2020 8:14 AMLeave a Comment

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May 29th, 2020 8:11 AM

Long-term U.S. mortgage rates fell this week as the key 30-year home loan marked an all-time low for the third time in the last few months since the coronavirus outbreak took hold.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan tumbled to 3.15% from 3.24% last week. It was the lowest level since Freddie started tracking rates in 1971. A year ago, the rate stood at 3.99%.

The average rate on the 15-year fixed-rate mortgage declined to 2.62% from 2.70% last week.

Freddie Mac indicated that due to the recent fall in mortgage rates, demand for home purchases by prospective buyers has rebounded from a decline of 35% in mid-April to an 8% increase as of last week.

?For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

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


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Posted by James M. Hanson on May 29th, 2020 8:11 AMLeave a Comment

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The county and municipalities have come to an agreement to allow short term rentals to resume on June 1st. We are excited to get back to business and welcoming summer. Several guidelines are as follows.

CDC Guidelines On Cleaning
Cape May County Health Department Guidelines

In addition here is the County's full proposal to reopen as well as a link to a new website, Cape May Strong that will has everything you need to know in regards to how Cape May is dealing with re-opening and COVID-19.


Cape May County Proposale on Reopening
Cape May Strong

For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Email: Info@AppraiseNewJersey.com

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 May 6th, 2020 1:54 PMLeave a Comment

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April 23rd, 2020 1:03 PM

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Posted by James M. Hanson on April 23rd, 2020 1:03 PMLeave a Comment

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LL-2020-04, Impact of COVID-19 on Appraisals (04/14/2020)



FANNIE MAE lender Letter 03312020


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Posted by James M. Hanson on April 23rd, 2020 12:55 PMLeave a Comment

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