Long-term mortgage rates fell to a new low this week, with a 30-year fixed-rate mortgage averaging 4.71 percent in the week ending Dec. 3, the lowest rate since at least 1971, when Freddie Mac started keeping track.
One year ago, 30-year fixed-rate mortgages averaged 5.53 percent.
Today 15 year fixed-rate mortgages are even lower, averaging 4.27 percent if you are able to afford a higher monthly payment this is a bargain.
"Interest rates for 30-year and 15-year fixed rate mortgages fell for the fifth consecutive week to an all-time record low, while the average rate on a 5-year ARM hovered nearer its record set in the previous week," says Freddie Mac (NYSE: FRE) chief economist Frank Nothaft. "In addition, interest rates on 30-year and 15-year fixed mortgages thus far in 2009 averaged one percentage point below their respective average in 2008."
In Atlanta, home sales rose 3.2 percent in October, NAR reported. Also in Atlanta, home prices were down 10.9 percent year-over-year in October. Low rates continue to contribute to a rebound in the housing market. Existing-home sales rose 10.1 percent in October from September, according to the National Association of Realtors.
Adding to a leg up in the market, the $8,000 first-time-buyer tax credit has been extended until April 30. It has also been expanded to include many buyers who are not buying their first home, with a credit of $6,500, depending on income.
Closings are up and prices are down from a year ago. It is still a buyers market!
Contact our office for more information and professional guidance in your real estate purchases.
by Anita C. Young, Milicki & Associates, Inc.
Milicki & Associates, Inc.
110 Evans Mill Dr. Suite 103
Dallas, GA 30157
770-874-2022
866-966-3022
http://www.milicki.com/
Showing posts with label buyers market. Show all posts
Showing posts with label buyers market. Show all posts
Thursday, December 3, 2009
Wednesday, August 26, 2009
Selling You Home, Do You Know Your Buyers Market?
Before you put your home on the market there are a few thing that you should consider.
What is the market for your home? Who would be the best agent to help you market your home? What are the positives and negative of my neighborhood that buyers will be looking at?
Understanding the buyer market and who might be a good fit for your home will help ensure that you highlight the most vital features. There are so many different kinds of buyers that might consider your home: single first-time, working couple, family, retirees or empty nesters, and a growing buyer market are women who purchase homes without spouse/partner.
Before putting your home on the market, you should take time to search for the best agent to handle your transaction. The agent can help you better understand which buyers are most likely going to be interested in your home. If there is a concern that needs addressing, an eyesore in the neighborhood or a foreclosure that’s been sitting on the block for several months; don’t be afraid to talk about it. The potential buyers are aware that it’s there (if they do their homework).
Even though you may have lived in your neighborhood for years, taking the time to drive or walk around it is a good idea. But this time do it with the same viewpoint you had when you were originally considering buying your home. It can really be a very different view. If you’re objective, you’ll see both the key selling points of the neighborhood as well as the things that may deter buyers. Seeing it all is beneficial because that’s exactly what potential buyers will see.
Making your home ready for your specific buyer market will help you not waste time marketing it to uninterested buyers. The house needs to be spotless, have great curb appeal, and evoke a warm and welcoming feeling with a few amenities. However, it is important to understand that in this economic era the home must also be basic enough to be affordable.
Milicki & Associates
Real Estate Specialists
110 Evans Mill Drive Suite 103
Dallas, GA 30157
Main: 770-874-2022
Fax: 770-874-2027
Email: info@milicki.com
www.milicki.com
What is the market for your home? Who would be the best agent to help you market your home? What are the positives and negative of my neighborhood that buyers will be looking at?
Understanding the buyer market and who might be a good fit for your home will help ensure that you highlight the most vital features. There are so many different kinds of buyers that might consider your home: single first-time, working couple, family, retirees or empty nesters, and a growing buyer market are women who purchase homes without spouse/partner.
Before putting your home on the market, you should take time to search for the best agent to handle your transaction. The agent can help you better understand which buyers are most likely going to be interested in your home. If there is a concern that needs addressing, an eyesore in the neighborhood or a foreclosure that’s been sitting on the block for several months; don’t be afraid to talk about it. The potential buyers are aware that it’s there (if they do their homework).
Even though you may have lived in your neighborhood for years, taking the time to drive or walk around it is a good idea. But this time do it with the same viewpoint you had when you were originally considering buying your home. It can really be a very different view. If you’re objective, you’ll see both the key selling points of the neighborhood as well as the things that may deter buyers. Seeing it all is beneficial because that’s exactly what potential buyers will see.
Making your home ready for your specific buyer market will help you not waste time marketing it to uninterested buyers. The house needs to be spotless, have great curb appeal, and evoke a warm and welcoming feeling with a few amenities. However, it is important to understand that in this economic era the home must also be basic enough to be affordable.
Milicki & Associates
Real Estate Specialists
110 Evans Mill Drive Suite 103
Dallas, GA 30157
Main: 770-874-2022
Fax: 770-874-2027
Email: info@milicki.com
www.milicki.com
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