To all our friends, neighbors, family and clients – we are so proud to have been able to work with you and be a part of your lives! As we end this year and turn our focus to 2013, we just wanted to take a moment to thank you for all that you bring to our lives.
We have some exciting plans in the coming year and hope to bring more success to all your real estate endeavors. With each transaction that makes it to the closing table in the coming months and years ahead – we know that new and exciting things will continue to follow for all of us.
On behalf of the entire group – Happy Holidays, Season’s Greetings, Peace and Joy!
Prior to the Presidential election many homeowners and homebuyers had been waiting to see what would happen to the housing industry depending on the outcome. Now that the dust has settled, we can rest assured that nothing drastic can be expected at least for now.
Interest rates continue to be at all-time industry lows. This is happening because the Fed has kept the base rate at or near zero expected until mid-2015. While we do not anticipate much change during at least the next 12 months or so, that does not mean that rates will stay so low. In fact, as economists will tell you, as banks continue to pump more money into the economy and consumers keep exhibiting stronger confidence through mortgages and other major purchases, rates will begin to climb again.
What does this mean to you as a buyer? It means that if you see a home that you want to buy, now might be the best time to purchase it. When you combine the low home prices with the phenomenal options out there for financing, it’s a clear win-win situation for all parties involved.
Sellers are enjoying the influx of buyers that are coming out of the woodwork with pent up demand also as a result of waiting around for the election to be over. So if you have been on the fence about buying or selling, this is the time to jump off.
As always, we are right here waiting for you, looking forward to helping make your real estate dreams become a reality!
With the past several years of rocky news across the country, it’s finally a pleasure to be reporting some good news. For the first time in quite some time there is widespread improvement in many local real estate markets. The Wall Street Journal recently reported that up to 20 major metropolitan areas across the United States are enjoying increased home prices and a rise in home sales. At long last we can finally see the bottom starting to come back up.
What does mean to consumers?
Strong Buying Market Ahead
Well, for starters these improvements have the most impact on sellers. Those homeowners that have been on the fence for some time now can finally consider jumping off that fence and list their home for sale. The coming fall season going to be a strong buying market as the fall usually is – but things are going to be even better given the upcoming presidential election. As is usually the case, an economic upswing typically comes to be expected during an election year, particularly leading up to the big day.
Inventory Dwindles, Demand Continues to Rise
One of the greatest factors in our changing market is the shift in inventory patterns throughout the country. We are reporting inventory levels consistently dwindling, leading to increased demand as there are fewer homes to choose from. Furthermore, as foreclosures and other distressed sales come off the market, traditional home sales are once again more prevalent in many markets. This is yet another factor that helps increase home prices.
Market Conditions Are Ripe for Buyers and Sellers
Right now, we are seeing the best of both worlds, a rare occurrence in our real estate industry. Sellers are able to receive multiple offers, sometimes ensuing in bidding wars that end up in their getting top dollar for their home. Not only that, homes are not staying on the market for very long. Meanwhile, home prices are still affordable and combined with record setting low interest rates, buyers are eager to lock in low rates.
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If all this makes you want to go ahead and jump off that fence, consider buying or selling and learn more about what mortgage options are out there – contact us today. There are many new programs right now designed to propel the housing market in an even better direction. And everyone knows that when the housing market thrives – so does our economy!
