It’s Time To Buy Again

You can read 10 different articles and get 10 different opinions about the state of the real estate market today and where we are headed.  This article, shows a brighter outlook while still being realistic about what we are up against.

There are a couple great points to consider in this article.  One is the huge decline in new construction.  If this recovery is like others, “It will bring a severe shortage of housing.”  The typical average build time for a new home is 6 months.  As the market does pick up and home owners are looking for a new home now, that will drive the new construction market up.  With a severe shortage in housing, that then drives prices up.  That is a positive for the real estate market and therefore the economy, assuming prices do not get pushed back to an unreasonable amount.

This is really a very interesting and detailed article.  If you are intrigued by real estate today, check it out here.

-Betsy, Atkinson-Thompson Group

Why to Buy and Sell in the Current Real Estate Market

All is not doom and gloom when considering buying and selling in the current real estate market.  People are doing it every day, and for good reason!  Increased consumer confidence, leading to a lessening of fear, is beginning to loosen up the real estate market and the mortgage investors that finance homes.  Check out Dan Steward’s article for RISMedia, Get in while the Getting’s Good – Why Buyers and Sellers Should Take Advantage of Today’s Real Estate Market, on the “whys” of buying and selling now!

To the best real estate decision for you~                                                             Rosemary, Atkinson-Thompson Group

Understanding Marketing & Selling a Home in the Current Marketplace

The logistics of  marketing and selling a home have changed quite a bit over the last few years!  Due to the uncertain economic climate, many buyers are avoiding going overboard or stretching themselves to the limit on a mortgage.  Above all they are looking to feel that they have gotten a good, fair price on a home.  Forget about incentives…price your home well with advice from your realtor!

Jim Buchta’s article for RISMedia.com, Real Estate Incentives Out of Style among Price-Focused Shoppers, provides some great insight on what many of today’s buyers are looking for and some solid ideas on how sellers/realtors can work together to get a home sold.  Betsy and I are always coming up with new tactics!

Come to us for advice~  Rosemary

Mortgage Interest Rates: Now Is The Time!

Yes, the first-time and previous home buyer tax credits are a perk of the past.   However, there is another terrific incentive for  purchasing a home right now…interest rates so low that they haven’t been seen in half a century!  The housing market is not all doom and gloom!  

Can there be obstacles to moving up to a new home if you already own one?  Yes, there can be, mostly due to the fall of home values over recent years.  If you are upside down in your mortgage (what you owe vs. what you can sell you home for), moving up to a new home may not be feasible right now.  However, housing prices are creeping back up in our area, and Betsy and I sell homes every day for people who thought they might be upside  down in their mortgage, but weren’t…due to their equity, due to a great location in which housing prices didn’t take too much of a hit, etc.  Don’t just assume!  We can do the research for you and assess for what price you can most likely sell your home.  Then you’ll know your options based on what you owe on your current home.  After an assessment of your home’s value, if things look promising your next stop should be to see an honest loan officer at a reputable lending institution, and we have several that we can confidently recommend.  A loan officer will be able to assess what price home you can afford and provide you with a detailed good faith estimate of closing costs/pre-paid costs and a loan pre-approval with which to shop for a new home.

And you first-time home buyers?  Strike while the iron is hot!  You can get a great deal on a home in this market.  Additionally, you have the luxury of not having to sell a home before you make your move.  We have put many first-time home buyers into great homes, homes that they now own for less than or equal to the rent they were paying before.  Plus, they now have a tax write-off that they didn’t have before.  Your first step?  Consult with us, and we can guide you to several honest, respected loan officers at reputable lending insitutions.  A loan officer will  be able to provide you with a detailed good faith estimate of closing costs/pre-paid costs and provide you with a  pre-approval for a home loan, a document that states what price home you can afford.   Once you know what price home you can afford, we can start searching for homes for you to view!  You can own your own home and have an interest rate to shout about!

For both first-time and previous home buyers, we sell homes every day to clients that have less-than-stellar credit.  And you don’t have to have 20% to put down on a home.  There are several down-payment options out there.  Talk to a loan officer about  the ever-more-popular FHA loan, which can provide you with a great interest rate and a low down payment.  Trust me, FHA loans are back in a big way!  Check out tomorrow’s blog for some great information on FHA loans; you’ll find it quite eye-opening!

Let us assist you in exploring your possibilities~  Rosemary 

Some Advice: How Not to Get Outbid on a Property

Most importantly, have a great realtor, like the Atkinson-Thompson Group, to advise you on and guide you through your offer!   I have a friend, who lives outside of Betsy’s and my business area, that lost three houses to low bids.  A lot of the reason she was outbid on those homes was that she received less-than-advantageous advice from her realtor.  

Take a look at June Fletcher’s article for The Wall Street Journal, 4 ways to avoid getting outbid, for some great tips on avoiding such a frustrating exercise when trying to find a home.  Even though there are plenty of homes on the market, there are some gems that get multiple offers, and it will be to your advantage to understand where your offer should be and  how to negotiate your offer when you want one of those cream puff properties.

Happy house hunting~  Rosemary

Pending Home Sales Heading North?

That’s the good news from the National Association of Realtors (NAR) according to a May 5 article on RISMedia.com, Pending Homes Sales on an Upswing.  Pending home sales increased again in March, indicating good things for the spring selling season, according to the NAR.  The article also touches on the increased availability of jumbo and second-home mortgages, a positive sign that banks are willing to loosen the reigns somewhat on mortgage lending.   Click here to read the RISMedia.com article and link to www.realtor.org for more information on the trend.  Here’s hoping the trend continues!

Best~  Rosemary