Changing of the Guard-My Desk gets cleared

Real Estate is change, forever and continually. The deal today is not the deal yesterday, nor is it the deal tomorrow.  Opportunity comes and goes.  Right now it i coming. By all indications predicted and transipiring the real estate market is picking up because there is some confidence building, some restrictions lifting and some political pressures for the news to turn brighter, and it is.  Word of bidding wars has returned, but before you get too giddy, word is also that more foreclosures are about to be released because of the settlement between the government and many large banks, like Bank of America, Chase, Wells Fargo and others. There is a payback to some select customers of these banks for their foreclosure ordeal.  Details are available at National Mortgage Settlement.

The winds are changing and the pendulum is swinging.  Interest rates are inching up and indications all pointing to a now scenario.  This news must be tempered with the realization that because of the Settlement more homes will be released onto the market.  This increased inventory will change the statistics, pricing and Days on Markets in these areas.  The consumer is savvy and they understand the difference and value of a home that has been maintained and one that is not. Their own capacity to trade that sweat equity for some price consideration determines the transaction.  You can search for better and simpler deals than work with ones that are difficult.  The principle reason for the NOW as time to make a move is related to the interest rate and not the price of the house.

The prices of the houses may drop slightly with the new inventory.  But if the interest jumps, even slightly as it just did in an upward tick over 4% for a fixed 30 yr, this makes the cost of that change for more significant.  It is the cost of a house by the month and not the price of that home.  With a lower interest rate pushed over a longer period of time your payments are lower and more affordable.  Of course best practices in paying off a mortgage is to make one extra principle payment each year and you significantly drop the number of years you will be paying and that is price and cost.  Make your money when you buy your home and when it is financed, not when you sell.  This is all pretty compelling news as to why NOW is the time to do this, or darn close to. 

I have been named the Spotlight Agent for RE/MAX New England for the second time in 18 months. This is an honor knowing all the successful RE/MAX New England Agents. My goal is to get you exactly what you want at a price you will love. I am interested in Your Storys.