With Rates as Insane as They Are Now, You’d Be Crazy Not To Buy NOW

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Together with Adam Moshofsky from Mortgage Express, I wanted to share with you some insight into the current rates available on the market and how exactly they are impacting the market in general plus buyers specifically. Most of us have not seen rates this low in our entire lifetimes. And though our parents and their parents dealt with another financial picture during their prime years, anyone in our generation that is not stepping up to take advantage of this HUGE opportunity is downright crazy!

Achieving the American Dream

Some lending programs, like those centered on FHA loans, have great buyer concessions on top of the already low rates we are seeing in the market today. When you combine the very reasonable and obtainable 3.5% down payment required for FHA loans with today’s rates and incredibly low housing values – you get the magical combination spelled A-M-E-R-I-C-A-N D-R-E-A-M. This is a dream that has become a reality for so many Americans who otherwise may not have been able to buy a home.

More Money In Your Pocket, More House and More Long-Term Savings

You cannot beat the market right now with the kind of amazing deals buyers are getting these days. Now, more than ever, buyers and consumers in general are far more financially savvy than their parents the baby boomers or hipsters were. Most families are making responsible financial decisions, following programs introduced by now-famed financial advisors that preach being debt-free is the new “in thing”.

One of the best ways to secure long-term financial freedom is to get your hands on a solid investment that you know will provide long-term returns. There is nothing better than a good home, in a good neighborhood where home values are significantly higher than other areas. The phenomenal chance to own more house, while paying less and saving more is not going to last forever. Of course we do expect housing values to rise eventually and when they do, if you were one of the savvy consumers who chose to seize this once-in-a-lifetime real estate opportunity – then you will experience the best returns. Not only will you have paid off more of your mortgage in less time with the same payments but you will also end up with a better home.

When Rates Changing Weekly, Payment Amounts Also Change

Just a few short weeks ago when mortgages were being offered at an average of about 4.25% for a 30-year fixed rate mortgage, monthly payments were about $70 higher on average for the typical $250,000 home. With savings like these, homeowners can expect to lock in major benefits in the long-run by either using that extra cash where most needed or paying that much more toward their principal and drastically reducing their loan term and finance charges. Here is a neat amortization calculator that shows you just how making extra payments will impact your bottom-line.

It is for this reason that shopping for a very low rate when you know they are changing from week to week and day-to-day is the smart way to go. For those buyers who locked in their finance rate a few weeks ago, the payment is higher than based on today’s rates. Though you can argue that waiting is a good idea in case rates plummet further, reality is that they are more likely to climb back up rather than go down further. The moral of this story? Lock in your rate now, buy your dream house now, don’t let it become a situation of “almost buyer’s” remorse.
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Any way you cut it – if you are even remotely in the market to buy a home you owe it to yourself to call a meeting with either Adam or myself to see how and where you stand in this unbelievable market. Things will not last like this indefinitely so before you live to regret it, at the very least you should find out the ‘what if’ of buying right now for you in your situation. Buying a house has never been cheaper. In fact, renting is a whole LOT more in many markets! Are you sure you want to miss out?

To find out more or to meet with Adam for a customized consultation, contact him at 541.337.3726 or email amoshofsky@mtgxps.com. And as always, I am available for any assistance regarding buying or selling your home or anything in between.

“The content here-in  is for informational purposes and is not an advertisement to extend customer credit as defined by Section 226.2 of Regulation Z.  Not a commitment to lock or lend, underwriting terms and conditions apply.  Mortgage Express, LLC is not affiliated with HUD/FHA/USDA or the federal government.  Equal Housing Lender  |   NMLS Company ID:  40831, OR ML #1952, WA #520-CL-49336, CA-DOC #4131043”

How To Be The Most Effective Salesperson For Your Home

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Anyone can list a home for sale. You take some pictures, sign up online to any number of online home listing services, even hire a Realtor to do the job professionally using an MLS service. However, what it really takes to sell a home is to be prepared in the areas that make all the difference to buyers. Think about it. Would you want to pay $250,000 for a 4 bedroom, 2 bathroom home in a neighborhood where all the other houses on the street are going for $220,000? Of course not! Does it sound appealing to walk through a home with scuffmarks and pet smells and could imagine living there? Signs point to NO. The other thing is this: if potential buyers or prospects cannot get in to see your place at convenient times for them and their agents, how can you expect them to be interested in the property?

Price! Price! Price!

Four years ago, you might have heard the familiar phrase “Location! Location! Location!” but that has changed. Now, more than ever, it is all about price. When a home seller prices his or her home, they are doing much more than just putting the property on the market. In fact, they are advertising their motivation for selling the home. If you see a home on the market that is advertised at forty percent less than the other homes on the street, something has got to be wrong with it, right? Well at least there will be questions raised and there will definitely be a loss of some prospective buyers who will not even take an unrealistically priced property seriously.

Excellent, Good or Fair Condition?

It goes without saying that potential buyers want to see a home in top-notch condition. Not only does there need to be solid structure, strong foundation and intact systems like plumbing, electrical and heating/cooling – but aesthetically too, the home must be appealing. All too often sellers have not considered fixing up the home to meet even the most basic standards of cleanliness and functional condition.

Imagine your home being showcased on one of those television design programs. How would it appear on camera? Would there be “oohs” and “aahs” or “blahs”? Will the wood floor that has not been cleaned and polished look bland and uninspiring? Would the kitchen with clutter and too much junk lying around be unappealing? Of course it would! You want to set up your place so that buyers can not only want to imagine themselves in it but then set it up in a way so that they are able to actually envision living there. These days with inventory relatively low, demand low and housing prices on the decline, the best combination for the strongest selling success is a home that is priced right and is in the best condition. In fact, those are the primarily the homes that are moving.

Open Invitations for Access

Nothing can be worse for a seller than to have a prospective buyer be interested in the home but back off because they were unable to view the home or access the property at a convenient time. Many sellers often do not want to go through the seemingly inconvenient steps of keeping the home in “showing” condition (especially for those sellers still living on the premises) so they inadvertently create access issues for buyers and agents.

The single best way to avoid the potential pitfall of not being prepared in this sense is to remain as accessible as possible. Of course this goes without saying for properties that are vacant but even in those cases, be sure to be flexible. Allow 24-hour access to vacant properties by provided a lock-box key that real estate agents may access once they have obtain the code from you. Your willingness to show the home and show it often shows that you are a serious seller and are interested in accommodating the convenience of potential buyers.

Keep in mind that you should maintain the exterior of the home as well as the entrance, so as to make it a warm and inviting environment that entices buyers into wanting to see more. If you have had pets on the home, remove them and attempt to remove all traces of them. Clean up personal clutter and also try to show the home’s best attributes so that the buyers can visualize themselves in the home.