Friday, July 31, 2015

Spring Buying Season Extends Into Summer


Spring Buying Season Extends Into Summer


Some Highlights:
  • Existing Home Sales are up 9.6% over last year.
  • Homes Sold on Average in just 34 days!
  • Inventory now stands at a 5.0-month supply.
  • Distressed Sales made up only 8% of all sales.



Friday, July 24, 2015

Mortgage Rates Over The Decades


Mortgage Rates Over The Decades

 You may think the cost of home ownership has gone up as housing prices have increased through the decades. But as this report for Keeping Current Matters shows, due to our historical low interest rates the average monthly mortgage payment is considerably lower than even 20 years ago. 


Some Highlights:
  • With interest rates still around 4% now is a great time to look back at where rates have been over the last 40 years.
  • Rates are projected to go up a full percentage point by this time next year according to Freddie Mac.
  • The impact your interest rate makes on your monthly mortgage cost is significant!
  • Lock in a low rate now while you can!

Friday, July 10, 2015

Boomerang Buyers Are Continuing To Come Back Into The Market, By The Thousands!


Boomerang Buyers Are Continuing To Come Back Into The Market, By The Thousands!


Some Highlights:
  • What is a Boomerang Buyer? A former homeowner who has gone thru a “short sale”, “foreclosure” or “bankruptcy” in the past few years and has been saving for a down payment in preparation of the expiration of the waiting period, in order to qualify once again for a mortgage.
  • According to NAR: Up to 1 Million consumers have already restored their credit and qualify to buy now.
  • 2.2 million consumers will return to credit worthy status within the next 5 years.

This continues to be a seller's market as inventory is still not meeting buyer's demand. The influx of Boomerang Buyers will only help to boost sales, while the continuing low interest rates will spur all types of buyers into making new purchases. As such the outlook for the Real Estate Market continues to be favorable. If you are thinking of entering the market I would love to give you a free market analysis of your home. Or if you are a first time or a boomerang buyer it would be my pleasure to schedule a meeting with my preferred lender to determine what price range you are most comfortable in and to show you what's available in that range.

Friday, July 3, 2015

Home Ownership is STILL the American Dream!

 Home Ownership Is STILL The American Dream!

Despite a slight rise in interest rates, all indicators of the housing market are still trending upwards. These are all great signs! across the country Home Sales are Up, Prices are Up and Sales in All Price Categories are Up! AND Pending Home Sales are at their Highest Mark in over 9 Years!

Some Highlights:

  • Existing Home Sales are 9.2% higher than just one year ago.
  • Home Prices are 7.9% higher than last year this time.
  • The $250-500K price range leads the way with the largest improvement from last year at 17.4%.