CONDO BUYERS ARE IN THE DRIVER'S SEAT

According to the LA Times Sunday morning, August 10, potential condo buyers are in the driver's seat.

For full story, click on the title above. For questions...contact me!

Time to lock in your mortgage rate

"Although still historically low, mortgage rates are rising slightly. Some analysts predict that mortgage rates will continue to increase over the next six weeks, while some forecasters expect rates to reach 7 percent by year's end. Experts recommend that consumers work with their mortgage servicer to lock in a low interest rate. A "locked" or fixed rate will provide consumers long-term savings, and allow home buyers to determine their monthly homeowner expenses several weeks before closing.

With inflation rising and some investors in mortgage-backed securities demanding higher rates to purchase bonds, home buyers should work with their broker to lock in a low interest rate."

I am happy to recommend a few mortgage brokers that will work with you through the preapproval process. They are people I trust will give you an honest assessment of market rates so you can make a more informed decision about purchasing a home.

For more info on what money is doing today, please see full article at CNN Money by clicking the title above.

Wishing you a safe & happy weekend...all the best!

Jillian

Should you buy a home now?

Some consumers are wondering if now is the right time to purchase a home, or if they should wait for prices to stabilize. Some real estate experts believe that home prices will continue to decline and that buyers should wait, while others recommend that home buyers take factors other than price into consideration, such as the benefits of owning versus renting...

Consumers who are hesitant about purchasing a home today because they fear price depreciation, need to understand that real estate is cyclical and that prices will increase again.

Home buyers should view a house as a long-term investment and not be fixated on short-term prices. Some economists believe that consumers should purchase a house if they have a need, or plan to live in or hold the property for 5-7 years. This will allow the market to stabilize and homeowners to profit from their investment, if they decide to sell.