Realty Vision


Posted by Realty Vision on 5/15/2014

Whether you are a buyer or a seller it is time to get off the fence. Despite years of bad news surrounding the real estate market, the time has come when it is both a good time to be a buyer and a seller. Why Buy? Here are just a few reasons why you should get off the fence and buy: 1. When investors start gobbling up real estate you know it's a good deal. In 2011, investors upped their buying by 64%.  While it is still not time to start flipping for a profit the clock is ticking down to an uptick in prices. 2. Interest rates are historically low. You have been hearing this for a while but they are hovering right around 4%. 3. First-time buyers are in a unique position. They didn't lose money in the housing market. 4. It's a great deal! Prices are at all-time lows. So you may be saving as much as 40% off a home if you buy now. Why Sell? Here are just a few reasons why you should get off the fence and sell: 1. Inventory is shrinking. Demand is up and in certain areas and price ranges there is limited inventory so putting your home on the market now will most likely result in a sale. 2. Mortgage availability has stabilized. Mortgage restrictions are loosening and especially first-time buyers are able to get mortgages as they were not affected as much by the financial crisis. 3. Unemployment is not as bad as you think. One is 30 Americans is unemployed as a result of the recent financial crisis. There are lots of able buyers out there. 4. Houses are selling and some are even going to bidding wars. Homes that are priced according to the market are selling and selling quickly. 5. Don't wait for prices to increase. This could be a long wait.





Posted by Realty Vision on 6/6/2013

According to Lawrence Yun, the National Association of Realtor's chief economist, the spring housing market is starting off strong. "If activity is sustained near present levels, existing-home sales will see their best performance in five years. The NAR expects sales to rise between 7% and 10% in 2012. What does that mean? Strong demand has melted away inventory in some housing markets with investors and first-time buyers vying for bargains, homes are being snatched up as soon as they hit the market. Prices may not be shooting up, but homes are once again selling at a rapid clip in many markets, draining the multiple-listing services and turning up the competitive pressure on buyers. Multiple offers and bidding wars are back. Lately if a buyer is not there the first day a home comes on the market, it's gone. When a quality property that is priced accurately comes on the market, it's not going to sit around. In some areas the competitive environment has already begun to nudge prices up slightly. Bargain prices and historically low interest rates are bringing buyers back. The belief among buyers is that the housing market has already turned the corner and that there won't be a better time to land an affordable home. National Association of Realtors President Moe Veissi, broker-owner of Veissi & Associates Inc. in Miami, says market conditions are improving as supply and demand have become more balanced.





Posted by Realty Vision on 4/4/2013

It is almost impossible to predict the future and predicting where mortgage rates may go can be difficult too. But if you know how to watch the indicators you will have some degree of advantage. It may help you decide whether to borrow funds or wait until rates drop. Consider that with any prediction there can always be a great deal of margin of error. Here are a few things to consider to make a more reliable mortgage rate prediction: History History can always be a good predictor. What is the economic climate? If rates are high in economic down times that you should predict that rates will rise when the same crisis hits the market. Look not only to long-term history but also to rates recent history. Watch for the changes carefully, track them by the month. Factors to consider are: Are the rates going up or down? What factors are causing them to behave in such a way? Influencing Factors Factors that influence mortgage rates can be controlled by you. One of those factors is the amount of down payment you have or if refinancing the amount of equity you have in the home. Also for consideration on the rate you will receive is your debt to income ratio and your credit score. Some factors you cannot influence include the state of the real estate market, the inflation rate and the funds available for consumers. Inflation Inflation drives most everything and always is a constant consideration of the mortgage interest. If inflation is higher, the interest rate will go up as well. Conversely, if inflation is low rates do down. Credit Availability How much credit is available? If limited funds are available than mortgage interest rates will be higher. The Bottom Line The bottom line is you have to be flexible. You can never predict what the exact mortgage rate will be. Instead, look to the factors that influence rates. This will give you an idea of where rates are and a better picture of if it is the right time for you to take on a mortgage.







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