Survey: Higher Rates Don’t Scare Buyers

Daily Real Estate News | Despite mortgage rates being on the rise home buyers say the increases aren’t scaring them away from their real estate search, according to a new Redfin survey.

Though mortgage rates have moved higher, borrowers on the whole are still appreciating how low they are historically and are taking advantage of the opportunities still at hand before rates move any higher. Despite nine consecutive weeks of rises in mortgage rates, the annual average for the 30-year fixed-rate mortgage was 3.65 percent in 2016 – the lowest annual average ever recorded by Freddie Mac.

Twenty-five percent of respondents say the rise in rates does not impact their home buying decisions, and about 24 percent say they feel a greater sense of urgency to buy before rates go up further.

Advertisements

How important are pictures of your home for sale?

That old adage “A picture is worth a thousand words” is especially true in the sale of a home. Most buyers do internet research when they’re looking for a home and they spend over 60% of their time looking at photographs.

Only when they like what they see will they look at a home’s specifications… taxes, room sizes, heating systems, etc… Often the description is even superfluous and overlooked by buyers if they love the pictures.

So, obviously, the pictures better be good and often they are not. I am constantly amazed at the lack of professionalism in the photos I see in the MLS. Poor photo quality, bad staging and choice of what to show (how many pictures of bathroom sinks do you want to see) are some of the mistakes sellers make.

Your house is competing with other homes visually for a home buyer’s attention. If you have poor, badly thought out photos taken in minutes your home cannot compete with the many homes with quality photography.

Out of focus, dark, poor color balance, crooked photos of homes that are not in proper showing condition will be overlooked by potential buyers for your home.

After pricing your home properly, quality real estate photographs are the most important marketing tool you have. And a good photograph is much more than a technical problem of lighting and exposure. It is also a function of proper staging and an understanding of design concepts.

If you are getting your home ready to sell, one of the best things you can do is hire a professional real estate photographer. You’ll get 15-30 quality pictures that show your home to the best possible advantage. For the few hundred dollars it will cost, you could very well realize a much higher selling price.

I’d be more than happy to discuss this further with you and answer any questions you may have. Just give me a call.

Low mortgage rates = new home-buying opportunities

Mortgage Interest rates just hit new 10-week lows due to the Fed’s decision to hold-off on raising rates.

With the housing market heading into the winter months, now is a great time to buy a home, vacation home or rental property.

Call today, let’s discuss your individual goals for purchasing or selling a property and find out if you can benefit by these low rates. Larry┬áCirnigliaro (714) 394-6649 – For all your real estate needs.

Housing Inventory is Low

The inventory of available homes is not big enough to satisfy the needs of the buyers in the marketplace. If you are giving any thought to selling a home, please call me today. I have pre-qualified buyers who are ready to purchase a home now!

Homes are selling quickly and for premium prices. If you want to sell a home, with minimal inconveniences and for a great price, now is the perfect time to do so. Call or email us today for a free, no-obligation professional home evaluation!

We have buyers who want to live in your neighborhood!

If you have given thought to selling your home, please call us immediately. We have pre-qualified buyers who are ready to buy now!

If your home is suitable for one of our buyers, it may be possible to sell it without putting your family through many of the inconveniences associated with the selling of a home via the open marketplace.

If you would like to know the value of your home, please call us for a no-obligation, free professional evaluation.

I’m a first time home buyer – what should I know?

Buying a home for the first time can be a little scary. It may be the most expensive purchase you ever make. You can make it a lot easier with a little preparation to avoid making mistakes.

Set a budget and stick to it. List all monthly expenses like the grocery, credit card bill, loan payments, medical and dental expenses, and so on. What is left after deducting the monthly expenditures will determine what you’ll have left to pay a monthly mortgage. Do not look at properties you cannot afford.

Get preapproved. Before deciding on a home make sure you get a pre-approval for the amount the bank intends to lend you. Don’t put yourself through the torture of seeing a home you love only to find out you cannot afford to buy it.

Know what you’re getting into. The mortgage is not the only monthly obligation you’ll have. Taxes, insurance, maintenance, repairs, any improvements you want to make. Are all expenses you are likely to incur.

Think ahead. What will your life be like five years from now? Kids? This will help determine the size and condition of a house to buy.

Make sure to inspect the physical condition of the house, and look for any potential damage or construction problems. A good agent will not let you enter into a contract without a provision for a home inspection.

And speaking of agents, if you are serious about buying a home, enlist the help of an experienced real estate agent. They will guide you through the process and make the whole experience a lot less stressful.

I’d be more than happy to discuss this further with you and answer any questions you may have. Just give me a call.

It pays to be a home owner and here is why

Daily Real Estate News | Home owners’ net worth is significantly higher than renters. A typical home owner’s net worth is $195,400 compared to a renter’s $5,400, according to the Federal Reserve’s last data from 2013.

The Fed’s next survey of household finances, which is conducted every three years, is due out in 2016 and the renter to home owner gap is expected to widen further due to price increases.

Lawrence Yun, chief economist for the National Association of REALTORS®, predicts the figure to jump to $225,000 to $230,000 in median net worth for home owners in 2016 and around $5,000 for renters.

If that proves correct, the typical home owner will be ahead of a typical renter by a multiple of 45 on a lifetime financial achievement scale.

If it’s a home, we can sell it!

When given the opportunity to market your home, we offer a step-by-step, organized and extremely effective marketing plan. It has been proven to be the most powerful and successful home selling system in our area of influence.

The most important thing we can do for a home seller is to access 100% of the Buyer Pool. We do so by drawing buyers from the real estate community, from signs, from advertising, from our internationally recognized name and from thousands of referral contacts.
Thank you once again for considering our services. We want to work for you!