Mortgage Rates At Record Low!

The Associated Press reported on March 20 that mortgage rates fell to the historic low of 4.94% for fixed 30 year mortgages. It is the first time rates fell below 5% since financial publisher HSH began keeping records in 1979.

The kicker is that the very best rates are only available to those with the very best credit scores. In other words, those who can best afford the higher rates get the lowest rates!

The record low rates do not yet affect credit card rates and regular loans. However it is seen as a positive sign for the housing market's much hoped for reversal.

Mortgage Rates Expected To Fall Further

Mortgage rates which are at an all time low are expected to fall even further, according to a CNN Business report.

The Federal Reserve Bank announced Wednesday it plans to buy an additional $750 billion in mortgage-backed securities, a move designed to lower mortgage rates.

You Should Sell Your House Now!

If you are thinking about selling now, you are probably worried about the current market value of you home. No doubt you thought it was worth a lot more. Well, it was but now it isn't. Should you wait till the housing market bottoms out and climbs back to where it should be?

The answer for you depends upon why you want to sell your house. The harsh reality is that it could be quite a few years before your home builds back the value it has lost. Can you wait? Should you wait?

Sell This - Buy Another
If you want to sell this house so you can buy another, think about what we used to call "funny money" in the days of the housing boom. Yes, you got a windfall amount on the sale of your house but you had to spend every nickel of that plus more to buy the new house - funny money.
Today, we have the same situation only in reverse - you will get less on the sale but you will spend less on the purchase - funny money. So, why wait?

Cashing Out

If you want to sell this house and retire to Florida or whatever then you are thinking about your future. Maybe you are concerned that your house won't leave you with the nest egg you had been planning on. The question for you is whether waiting will provide you with more security down the road. That is a question best addressed with your financial adviser.

If the timing of the hoped for turnaround in the housing market could be predicted with even a modest degree of accuracy you could weigh the benefits of selling now versus the costs of waiting. Should you cash out now?

The Future
My husband worked for the Federal Reserve Bank. He used to say: if you ask five economists the same question you will get ten different answers!
When will the housing market bottom out? When will home prices start to climb back up? How long will it take to return to where it was say, two years ago?

You Get One Chance To Make a First Impression - Don't Blow It!

“Set the stage” is a phrase we are all familiar with. Generally, it means to prepare something for viewing in the best possible light. It is an idea used in real estate. We set the stage for buyers to view your home in the best possible light.

Staging comes in two parts. First is curb appeal, which is setting the stage so you home look great from the curb as prospective buyers drive up. Second is staging the interior of you home. Both are critically important to make your home appealing to the widest possible range of qualified buyers.

Curb appeal, the prospective buyer’s first impression of your house will either invite the buyer to walk through the door or to get back in the car and drive away. It’s pretty basic stuff but easily overlooked. Subtle things can make a huge difference.

Staging the interior is critical to showing your house in an appealing way. Unfortunately, it is an easy thing to ignore – fill the house with sweet music and the aroma of fresh baked ginger bread and calls it done! But what about the cracked window, water stain in the corner, peeling paint on the window frame?

Professional staging goes beyond clean up, fix up and make neat!

PS: I am trained and certified as an Accredited Staging Professional by the International Association of Staged Homes Professionals.

Location, Location, Location? Maybe Not!

Location, Location, Location?

Well, yes but…………

Remember when that was the mantra?
Location is still a very important. No doubt about that. Beachfront! Water view! Walk to the beach! Quiet Street! Each of these locations ads to the price but in the end, today it comes down to Price, Price, Price. The new reality is that there are lots of great location houses on the market but the ones that sell first are not the ones necessarily closest to the water. The ones that sell first are the ones most aggressively priced. In these high information, internet-days, buyers know what the market is, what houses are worth and what the houses nearby are selling for.

Mortgages

It may be quite a while before many home buyers will once again feel comfortable with variable rate mortgages (VRM's). Nonetheless, banks and mortgage companies are making them available.

The mortgage market is tight right now. Lenders have upped the credit scores they require for loans. And they are definitely lending money. If you have a good credit rating, you will be able to get a good mortgage.

Two local banks which are quite active in home lending now are Cape Cod Five and Cape Cod Coop. As of the first week of March their rates were 4.87 to 5.25 for conventional loans.

Home buyers can and should shop for the best rates. Be sure to ask the lender about closing costs and fees so you will know exactly what the loan will cost you

What's a "Green Realtor"?

A Green Realtor is one who has completed specialized training in the many ways to make a house environmentally friendly and to reduce its carbon footprint. As a certified Green Realtor, I have been trained in the selection and use of energy efficient appliances including heat and air conditioning, insulation, and alternate energy sources. I can help clients assess the energy efficiencies of homes and steer them towards appropriate solutions.