December 2, 2013 10:21 am
There are some homeowners that might consider waiting for the spring to sell their house thinking that no one buys a home during the winter months. What we should understand is that homes sell EVERY DAY. As a matter of fact, according to the latest Existing Homes Sales Report
from the National Association of Realtors
, on average
14,027 homes sell daily in this country.
It is true that more houses sell in the spring than the winter in most markets. However, it is also true that there will be more competition as many sellers wait to the spring to put their house on the market.
November 28, 2013 10:18 am
Have a Great Holiday! See You Monday!
November 27, 2013 10:18 am
Approximately 5.6 million property owners in over 20,000 communities across the country rely on the National Flood Insurance Program (NFIP) for flood insurance. A new law, the Biggert-Waters Flood Insurance Reform Act of 2012,
will force major changes in the NFIP.
Despite efforts by some on Capitol Hill to delay the act,
it looks set to take effect. According to an article
in Insurance Journal
FEMA Administrator Craig Fugate said:
“There are challenges to implementing the law when premiums may exceed $10,000 in more high-risk areas where homes are not easily elevated or bought out.”
How many will be affected?
The Insurance Journal
article also explained:
November 26, 2013 10:15 am
The big question for homebuyers is when interest rates will begin to rise to the 5% mark. The effect of a rise in mortgage rates could be a dramatic increase in the monthly mortgage payment when purchasing a home. In an article
last week, HousingWire
quoted two different sources regarding this issue.
Most experts are projecting that rates will rise when the Fed decides to taper the purchase of bonds which has acted as a stimulus to the housing market by keeping long term mortgage rates at historic lows.
November 25, 2013 10:15 am
Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:
Supply Is Shrinking
With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.
Price Increases Are on the Horizon
Prices are projected to appreciate by over 25% from now to 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.
Owning a Home Helps Create Family Wealth