interest rates: 2020 Projections
- 01/02/20 09:28 AM
These are always interesting. For 2019 our little town of 8700 we had an increase in the number of closed sales from 100 in 2018 to 113 in 2019 a 13% increase. I fully expect 2020 to be a GREAT YEAR for people looking to buy and sell. As far as a potential recession all I have to say is markets go up and markets go down. The same holds true with economies. People buy and sell in ALL markets.
The 2020 Real Estate Projections That May Surprise You This will be an interesting year for residential real estate. With a presidential … (8 comments)
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interest rates: Considerations for 2020
- 12/12/19 07:12 AM
A 365 Day Difference in Homeownership
Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:
Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home? Move-up or Downsize: Another option is to … (10 comments)
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interest rates: The Time Is Now...
- 07/31/19 08:10 AM
If You're Waiting For The Perfect Time You May Be Waiting Forever!!
It is always my belief that NOW is always the best or perfect time to sell or buy a home if you've made that decision to move forward. Inventory is low and may be headed higher, demand is high, interest rates are low and may be going lower! SO...get all your ducks in order and move forward.
Why Now Is The Perfect Time To Sell Your House
As a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should … (2 comments)
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interest rates: What Are You Waiting For?
- 07/19/19 09:33 AM
We've all heard the phrase "He who hesitates is lost", right? Certainly, the inability of making a decision affects the lives of many people. I know that I tend to over-analyze or procrastinate, which has burned me on many occasions. BUT one area I have not 'hesitated' was when we rented or bought our home.
Waiting in Real Estate can be very costly. That's why it is important to have all your ducks in a row before you enter the active market. With inventory being at record lows and interest rates still near record lows leaves little space for contemplation or hesitancy. … (4 comments)
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interest rates: Should we...
- 07/08/19 08:45 AM
...Sell the house and move up? "We've recovered our equity, the family is growing and could use more space."
It all depends on your needs and desires and what you're looking to move up to.
For the purposes of this article, we're referring to moving up to the luxury home market. In our area of MA luxury would be the $1M and over, give or take. Those homes seem to be languishing and Days on Market are high. You might find more negotiating space. Soooo...if it's for you here's a couple of reasons to strike while the irons are hot.
Now’s The … (16 comments)
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interest rates: The Cost of Waiting...
- 06/12/19 11:15 AM
I've burned myself several times in life by procrastination or thinking I was smarter than I actually am. In Real Estate, the market changes day by day. Waiting could cost you plenty of dollars OR you just might luck out. When Pam & I bought our house in 1985 the interest rates were at 13% and rising, as were prices, BUT, we knew the market and knew that rates would not remain high even though the rates went to 18% before correcting. On that one occasion, we did not hesitate/wait...We Bought!
My advice is Do Not Wait. My motto is "It's … (27 comments)
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interest rates: Good News Effecting Real Estate...
- 05/04/19 09:30 AM
The U.S. economy is on a tear! Interest rates are still low and have actually declined since November of 2018. Inventory is still low and prices are escalating but homeownership is a big part of the American Dream.
2 Trends Helping Keep Housing Affordable Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades!
These two factors have helped keep housing affordable despite low supply of houses for sale driving … (14 comments)
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interest rates: HOW TO SAVE THOUSANDS OF DOLLARS IN INTEREST ON YOUR MORTGAGE
- 12/26/18 07:42 AM
Everyone wants to know how to save money on their mortgage. A real eyeopener is when you're at the closing table reviewing & signing the mortgage documents and you first see JUST HOW MUCH you'll REALLY be paying for your home once the interest is paid!!
Pam & I paid our 30-year mortgage off in 23-years using some of these techniques that the folks at KCM have put together. I've always lived by the motto "It's what stays in Hip National Bank (your pocket) that counts".
One of the most common loans you can get to buy a home is a 30-year fixed … (6 comments)
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interest rates: NOT Fake News...
- 08/07/18 08:19 AM
There are so many misperceptions about the purchase of real estate that actually prevent people from realizing their dream of homeownership. The Infographic below shows the actual history of the last 4 - 5 years regarding some mistaken beliefs of purchasing a home.
Home Buying Myths Slayed
Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! … (8 comments)
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interest rates: The Good Ole Days...
- 07/07/18 07:28 AM
OR...were they. Here's a fun infographic by the folks at KCM. When Pam & I bought our home in 1985 we paid 13% and that wasn't even at the height of interest rates. We have friends that paid up to 16%+
We knew rates couldn't stay that high and we were prepared to refinance when rates came down. We actually refinanced 3 different times & made additional principal payments. We paid off the mortgage in 23 years.
Today the interest rates are still low, low, low. Owning Real Estate is still the best way to accumulate wealth. The longer you wait, the more it … (18 comments)
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interest rates: Oh, What to Do...
- 03/16/18 09:06 AM
You've heard the old saying, "He who hesitates is lost", right? Many times we want to try and time our purchases to markets BUT markets are fickle and when we try to pick a top or bottom we may lose our optimal time to act.
One thing we know is that interests rate WILL rise and interest rates Will fall. When Pam, my wife, and I purchased our house we paid 13% and we had friends that purchased near 18%. What we knew was interest rates would fall, eventually. We were prepared. We refinanced a couple of times during the rate declines and chose to … (4 comments)
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interest rates: He Who Hesitates...
- 05/07/17 06:14 AM
Do You Know the Cost of Waiting? "He who hesitates is lost" is an old proverb. It means...
A person who spends too much time contemplating what to do may miss a valuable but fleeting opportunity. In the current Real Estate Market buyers are finding themselves in a higher state of urgency because the inventory levels are so low. The folks at KCM have put together an infographic that shows the potential cost of waiting for a more opportune "time", if there is really such a thing
Some Highlights: The “Cost of Waiting to Buy” is defined as the additional funds it would … (17 comments)
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interest rates: Slaying Home Buying Myths...
- 04/21/17 08:34 AM
When I'm working in my home office I usually have a business channel going in the background, that or comfortable music. Yesterday it was announced that home interest rates had dropped below 4%, nationally, to 3.97%! Sales in our area are good but they could be much better. Inventory is still very low.
This is a very good time to buy. Prices are being pushed up due to the lack of inventory. With that appraisal issues are beginning to be seen.
That being said the folks at KCM have a great infographic I'm sharing with you today. "Slaying Myths About Home Buying"
Some … (20 comments)
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interest rates: Are Mortgages Easier to Get?
- 04/17/17 02:50 AM
I have found the folk at KCM can be relied on for statistics and all around information regarding the Real Estate Estate industry, on April 13 they published the following article -
Home Mortgages: Rates Up, Requirements EasingI'm wondering if AR members are seeing requirement easing for your clients seeking mortgages. I'm still finding those with stellar credit are ok but those in the lower end of acceptable are having a more difficult time with obtaining a mortgage. Here's the article...
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current … (2 comments)
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interest rates: It's All Supply & Demand...
- 01/03/17 06:32 AM
Ya Think!
That's the economic cause for the rising price trend for residential Real Estate. I was really surprised that many in our business thought that low inventory and an anemic economy would stall the recovery. I operate on the notion that the "buyer pool" is constant and, people have an ingrained sense regarding home ownership. So a few years ago it was obvious, to me anyhow, that this low inventory would drive up prices.
Now I think, with rising rates, buyers and sellers will have a greater impetus to act, in 2017, since the Federal Reserve has indicated it may raise rates … (6 comments)
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interest rates: A Look at the Mortgage Market...
- 12/29/16 02:45 PM
An associate of mine sent me a weekly snapshot of the mortgage market for this week v last week. Seems rates are continuing to move up slowly BUT still are low compared to normal (which I've learned is just a setting on your dryer.) =:o)
… (8 comments)
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interest rates: Massachusetts Real Estate Report
- 12/16/16 08:52 AM
The Massachusetts Association of Realtors has issued a report by Eric Berman, about pendng homes sales. The Real Estate market has been a robust one for our patch of the woods. Prices are up, partly due to lower inventory, in my humble opinion, and demand continues to be strong. There is new concern about interest rates as the Fed has now raised them and suggested future increases for 2017.
Savvy sellers will keep their homes on the market instead of taking them off market through the holidays and winter. Below is the report.
Homebuyers Stayed Focused in November and Pushed Pending Home Sales Up
… (0 comments)
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These are always interesting. For 2019 our little town of 8700 we had an increase in the number of closed sales from 100 in 2018 to 113 in 2019 a 13% increase. I fully expect 2020 to be a GREAT YEAR for people looking to buy and sell. As far as a potential recession all I have to say is markets go up and markets go down. The same holds true with economies. People buy and sell in ALL markets. 
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