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buyers: 10 Market Facts for Uncertain Times (Simple Version)
- 09/28/10 03:09 PM
10 Market Facts for Uncertain Times
NAR September 2010
Although the economy is soft and consumer confidence remains low, new data from the National Association of REALTORS® shows positive signs for the future. To help interpret current economic data and address clients' concerns, here are 10 key facts to understand about today's market.
1. The economy is growing, though slowly.2. The private sector is finally creating some jobs.3. Consumer confidence remains low, though clearly off bottom.4. The 30-year mortgage rate is at generational lows.
5. The national median-home price is stabilizing.6. Other home-price measurements also are showing price stabilization.7. Home price-to-income … (3 comments)
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buyers: Hey, You! Yes, you can buy a home!
- 09/28/10 02:22 AM
Hey, You! Yes, you can buy a home!
Mis-Reporting Again......
Mortgage financing and the fate of the housing market reporting has created many doubts in the consumer's mind on whether they can acquire a mortgage in today's market and move forward with the American dream of Home ownership.
The reality is YES, you can buy a home today, and there are many reasons why you should buy instead of rent.
Please watch the attached video to hear some of the FACTS on mortgage financing because in today's market you can't afford to make your most important financial decision based on … (3 comments)
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buyers: Home Buying and Selling Tips for Fall
- 09/20/10 05:26 AM
Home Buying and Selling Tips for Fall
HGTV's real estate site Front Door says the weeks between now and the end-of-the year holidays are the best ones to find a bargain. Here are some of their tips for fall buyers and sellers:Fall Sellers:· Replace faded summer plants with fall-blooming flowers and add autumn decorations to the home.· Expect low-ball offers and be prepared with higher counter offers.· Freshen up listing photos by shooting pictures that make it less obvious that the seasons have changed.· Price the home to sell. A price that is a little lower than the competition may be … (0 comments)
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buyers: Buyer activity is HOT!
- 09/18/10 12:50 PM
Buyer activity is HOT!
With interest rates low, inventory high, and motivated sellers with good prices, the buyers are hitting the market this month.
3 of my listings are now under contract this week! Wow, the buyers showed up out of nowhere. 2 of these homes had been on the market a while, but all had gone through recent price reductions.
That's right, once the price was lowered to represent a decent value to the buyer....BAM!
40% of my active residential listings went under contract this week.
Are the buyers finally responding to this Perfect Storm? Why a Perfect Storm? See previous blog about … (0 comments)
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buyers: 10 Reasons to Buy a Home
- 09/16/10 10:04 AM
10 Reasons to Buy a Home
Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed. Why is now a great time to buy? Here are 10 reasons:1. You can get a good deal. Prices are down 30 percent on average. They're at a level that makes sense for people's income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate … (2 comments)
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buyers: Home Purchase Applications Rise 6.3%
- 09/08/10 10:34 AM
Home Purchase Applications Rise 6.3%
Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.The Refinance Index decreased 3.1 percent from the previous week."Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent … (0 comments)
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buyers: Do we need another tax credit?
- 09/01/10 10:08 AM
Do we need another tax credit?
A recent article from realtor.org, says the tax credit needed to end and another would not be good.
Rumors have been flying around about the possibility of another tax credit. Many experts, including real estate agents, agree that another tax credit should not be implemented. The consensus seems to be we need to see what the actual demand for housing is, and that the tax credit will not solve anything until our economy, especially unemployment, improves. What do you think? REALTORS? Buyers? Do you feel a tax credit is needed? And valuable?
I actually know … (3 comments)
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buyers: 15 Year Mortgages are on the rise
- 09/01/10 04:54 AM
15 Year Mortgages are on the Rise
According to a recent article on Yahoo, the volume of 15 years mortgages is on the rise, with refinancing. It has always been my opinion NOT to recommend a 15 year mortgage to a new buyer, or someone buying their next home. The main reason being that when you sign up for a 15 year mortgage, you are responsible for that higher monthly payment, regardless of what the ecomonic environment may be, for your family, or the nation.
Of course, the 15 year mortgage has a much lower interest rate, currently in … (1 comments)
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buyers: BAM! Reality Check! Again!
- 08/20/10 04:36 AM
Buyers & Sellers don't wait around! Just like in the stock market, you buy when the prices and rates are lowest for maximum profit in the future. Now is the time!
FHA has passed new guidelines that will make it more expensive to buy a home due to increased fees on your FHA mortgage. Higher monthly fees, larger down payments and better credit scores are among the new initiatives.
The new rules will start taking effect as early as the end of August and will impact buyers with higher fees and increased monthly mortgage insurance amounts. The new rules will also … (1 comments)
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10 Market Facts for Uncertain Times
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