“WANTED” BUYERS LOOKING FOR A GOOD DEAL?

NOW, yes, NOW is the time to BUY. First time home buyers and home owners moving up in the market, NOW is your time! First time home buyers can capitalize on the current market with out getting into bidding wars. If your open to doing a little remodeling, you are really in the drivers seat with current inventory on the market. If you are moving up in the Market, you can increase your buying power. If you are selling a $250,000 home with a down market of 5% and you buy a $400,000 home that is down 10% in market value you have just gained  $27,500 in buying power by moving up in a down market vs. purchasing in a normal or regular market. If you would like more information on the market price of your home and market conditions, please call me to meet and discuss this further .


This week's key fact to understand about today’s market:

The 30-year mortgage rate is at generational lows

Buy Now–Borrow Now

If you’re in the market for a home loan, close the deal sooner rather than later. Mortgage rates, in particular, may start to go up soon. The Fed has been buying mortgage-backed securities, which has been holding rates down, but that program is set to expire at the end of March, although the  program may be extended, it’s unclear at this point.

Does this mean you should rush into a decision? Of course not. But it does mean you can save a bundle by pulling the trigger on a home you’ve been considering since last year, particularly if you do it before April 30 and cash in on the tax credits available to first time home buyers as well as home sellers/buyer that have owned their home 5 years or longer.

When the economy is struggling, the Federal reserve cuts interest rates to boost activity. Rates are now at historic lows. This strategy works. The economy is beginning to expand, meaning unemployment should start easing and consumer spending should rise. Then interest rates will rise. The current expectation is that the Fed will start raising interest rates after March and into the third or fourth quarter.

This week's key fact to understand about today’s market:

Consumer confidence remains low, though clearly off bottom.

Is Now the Time to Buy?

As I am writing my newsletter, I am looking at a Mortgage calculator one of my valued lenders created for me on one of my listings. The listing is a condo on Laurel Lake in Thiensville. Priced at $134,900. The mortgage calculator payments are $1,167.00 per month including condo fees and property taxes. The interest rate is 4.375%YES I said 4.375%. Now, I just got done searching for a home/condo to rent for one of my clients friends. I found a condo on CraigsList in the same area, Laurel Lake, same size and style for $1,300 per month. Well……………… it doesn’t take a rocket scientist to see that purchasing, in most cases, is a better investment than renting. The $1,167.00 mortgage payment does not take into consideration the benefits you get as a buyer with interest and property tax deductions, an added plus for almost any buyer. Let me do an analysis for you showing you the benefits of BUYING vs. RENTING. Call or email me today:  northshorehomes@msn.com


This week's key fact to understand about today’s market:
The private sector is finally creating some jobs.