According to some info from Realtor.Mag the upward trend in mortgage rates might get some buyers off the fence. The general feeling is that the rates have bottomed ouit and can only creep up. The "perfect" loan ( i.e., significant money down, great credit, ec.) 30 yr rate went up to 4.61 (good luck!) and the 15 yr rate from 3.81 to 3.95. We all know there is a pent up demand and that sales in St Johns County seem to be increasing, although not the average price. Comments I have heard would indicate that the general public still believes the prices will continue to go down (though a faster recovery is expected for St Johns County than the rest of Floroida) and that another wave of distressed property sales is in our near future. A rise in the mortgage rates could encourage buyers to move forward anyway - we'll see!!
On another note, Inman News has named thier 100 most influential people of the year and that included 6 officers from the national board of NAR! Goes to show how imporant real estate is to our economy!!
Curb appeal is top of the list for helping the sale of a property. Exterior improvements lead the way with a steel entry way door getting back 102.1% of the investment! These replacement projects are less expensive and give back the most. Upgrades such as granite countertops, actually declined on percentage of money gained back. You have to get people in the door before anything can happen!!
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