Many home buyers are likely to be regretful when they realize that they have waited too long to lock-in the best interest rates. Rates have been at 5% and less for a while, but have now jumped up to 5.62%, which is still good...but the higher the rate goes, the less house you can buy.
I believe that rates are going to soar leaving many buyers unable to purchase. It is economic fact that to stave off inflation it will be necessary to raise the interest rates. Well, we have already received a small taste of this in the past week. In fact several buyers I have been encouraging to be proactive, are now having to lock-in at a higher rate than they expected. What a difference a week makes.
Some of the blame is on the media who reports the possibility of lower rates, which may never come and in this case did not. I am speaking of those waiting for 3.75 or...gasp... even lower rates. Once again, it has been proven that trying to 'time the market' is near impossible.
While I am no expert, I do pay attention and apply common sense, and it seems that I have advised my clients correctly. Of course, it is possible that we may see another dip in the rates, we may see several, who knows? We don't. We do know that the rates are notably more than they were a week ago. They may be 6% by next week. Are you willing to take that chance?
If you are a home buyer that is considering a purchase, and are capable of owning a home, now may be the time to get on board while rates are still reasonable. I will not be surprised if our rates hit 10-11% or even higher such as 18-21% like the 1980's. It has happened before and history likes to repeat itself.
When: Saturday June 6, 2009 11:00 a.m.
Where: Weichert Realtors Eastern Shore Office at 24336 Hwy. 98, Fairhope, AL 36532
Buyers will learn about:
Light refreshment will be served. Expected length of seminar is 2 hours. Participants will have the opportunity to start the process if desired. Participants will not be asked to buy anything, nor will anything be presented for sale. Registration required. Call 251-406-2859.
A HOME MARKETING PLAN THAT MAKES SENSE
Every home seller receives a full-service VIP MARKETING PACKAGE:
"I HAVE EMBRACED THE VERY LATEST MARKETING & TECHNOLOGY. MY PHILOSOPHY IS TO DO EVERYTHING POSSIBLE TO GET YOUR PROPERTY IN FRONT OF MORE BUYERS. IT MAY BE THAT NO 'ONE' THING MAY WORK, BUT DOING EVERYTHING CERTAINLY INCREASES THE ODDS IN YOUR FAVOR."
A recent article by the City of Mobile Press Register reported that Mayor Sam Jones had given a directive to the telecommunications and technology departments to look into the plausibility of providing free wireless internet service in downtown Mobile. According to Mayor Jones "That's something we consider a priority. A lot of people are interested in having broadband access.... It would be a selling point for Mobile." Apparently the mayor realizes the potential benefit to business users, and the social impact for our young people.
Currently and for the last few years, Southern Light, a local fiber-optic company located on St. Anthony Street has been providing free wireless internet access in the downtown Cathedral Square area, but with disappointing results.
Perhaps Mobile can follow in the footsteps of Houston, Texas who began providing free WiFi earlier in 2008 as an extension of the technology used with their parking meters. They are getting about 200 unique users a day and believe that Houston is now more "hip" among its young people, and from a governmental standpoint, this service "connects" them with the youth more than any other service, according to Janis Benton, the deputy director for the city's Information Technology Department.
As a deep-port city, Mobile continues to attract to businesses into the area and the future looks bright indeed. This advancement, if implemented, will further define the city of Mobile as an up-and-coming place to work, play, and live.
There are currently 12 Homes Under Contract and 18 Homes Pending in the Fairhope/Point Clear area. This includes the lovely 2008 Showcase Parade Home listed for $1,385,000 in The Waters At Fairhope. In addition, there are 545 Active listings. Current average list price is $473,191. Prices range from $69,000-$4,500,000. Half are listed below the median price of $339,000 and half are listed above that price.
Visit my web site: http://tiastanley.com
My love of people & passion for marketing makes the real estate profession a perfect fit for me. People want to know what you are going to do that is different or better than everybody else.
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