In the third quarter, the purchase market continued to show little change from the 2016 market. (charts pages 13-15) Sales of property which are not the buyer’s primary residence enjoyed the strongest third quarter since sales disclosure data became publicly available ─ about 6 years. This made up for softening in the market for properties that became the buyer’s home.
Recorded mortgages however came in with the second weakest third quarter since 2009. (page 7) Counter to the overall trend though, mortgages between $200K and $424.1K were much stronger compared to smaller loans in prior years. (charts pages 9 & 10)
It’s a “no news is good news” market. And I’m more than OK with that!
Team Member Changes at John Bethell Title
I’m happy to announce that Julia Francke joined our closing team at the beginning of October as a pre-closing processor. Julia had been a Realtor® in Florida and became a JBT title team member in April 2016 after relocating back home to Monroe County. Prior to becoming a Realtor®, Julia did mortgage processing for nine years. Combined with Julia’s year and half on our title team her skills and experience are a perfect fit for her new role. Julia will be working with Rebecca Spencer’s and Amy Thomas’ closing team.
Julia succeeds Willow Spencer in this role. Willow recently left us to for the challenges of becoming a Realtor® with Millican Realty. We will miss Willow. She handled her role exceedingly well. We wish her all the best in her new profession and we’re looking forward to working with her as a successful client!
September wasn’t quite as dynamic as the prior four months but it was busy nonetheless. We helped 406 people buy, sell or refinance their properties. Our closing team delivered seller side closing statements two or more day prior to closing for 95% of our transactions. And our title team continued to rock and produced Monroe County title commitments in four days or less 91% of the time with average turn-time of 2.94 days.
~ John Bethell