Three Answers for More Clients and Houses SoldNov 25 2011
Potential Homeowner: Will Home Prices Continue to Fall?
The falling home prices are due to the hesitancy of qualified homebuyers to reenter the market. However with mortgage rates at historic lows on top of extremely low home prices, buyers will begin to take advantage of this perfect time to purchase a home. As more buyers decide to take advantage of this perfect home buying situation, home prices will begin to rise shortly after.
Potential Homeowner: Should I Wait?
No. Like above, home prices are likely to begin to rise due to buyers realizing the market is perfect for purchasing a new home. Also, with our economy avoiding a double recession, we are going to see mortgage rates begin to rise from their current historic lows. While they will still remain at unbelievable lows, the sooner you get a loan closed, the better chance you have at attaining the lowest rate possible for you.
Potential Homebuyer: How Do I Start?
First begin by educating yourself about the homeownership process. There is a lot of information for you on the web, for example, Guarantee Rate’s blog and Facebook offers many tips for new homeowners. Also, talking to a licensed mortgage banker can help you discover the opportunities that you do have and help you from the beginning steps to closing.