Looks like a number of buyers are feeling more like Chicken Little these days! It’s practically impossible to avoid the doom and gloom “sky is falling” portrayed on the news about both the mortgage and housing industries. Granted, the Mortgage Industry is in an active state of transition; which, after speaking with several industry professionals over the past few weeks, seems to be a good thing for the industry! Buyers are worried about where this shake out will actually leave them. The consensus from these experts is that most buyers will be fine, however there should be a greater sense of urgency to lock in your loan as soon as possible. Today’s rates and terms may change as of tomorrow.
The real estate market is very localized so you cannot rely on media to provide you with all the facts. While prices may be taking a nose dive in some subdivisions or even zip codes, others are actually not fluctuating that much. You need to find a Realtor who is well educated on the market in which you wish to live. That Realtor can discuss the trends and negotiate the best deal now. If you are looking at home ownership as a long term investment, this market can be a positive one for you.
The entire real estate purchase transaction remains a very personal one — driven by you! The purchase price, terms negotiated, loan chosen…all of these are unique to you. Are there good loans out there? The experts say “Yes!” Are there good deals on homes out there? “Yes!” Is now a good time to buy? “Yes!”
So if you are serious about buying a home in the foreseeable future, consult with industry experts who can guide you through every step of the process. If you don’t know a reputable mortgage planner and have fears about choosing one, simply email me at debrahorowitz@selbyrealestate.net. We work with a number of reputable mortgage planners who can help you achieve your goals. Before you put your dream on hold, at least meet with us and get all your questions answered; you’ll get information and advice with no obligation on your part! See, there are some good deals out there…