Looking for a belated Christmas gift? Thinking that 2012 is the year to make the leap into home ownership? Consider extremely low mortgage rates as your gift to buy a new home in the new year! It may be hard to believe, but rates are dropping below their previous record lows! Check out these rates:
30 Year Fixed Rate Mortgage: 3.91% -- This is an all-time record low and down .9% from last year.
15 Year Fixed Rate Mortgage: 3.21% -- A .94% decrease from last year.
5 Year Adjustable Rate Mortgage: 2.85% -- This is .9% lower than last year's rate
1 Year Adjustable Rate Mortgage: 2.77% -- A .63% decrease from last year
Read the full Freddie Mac article for more information.
Tuesday, December 27, 2011
Thursday, December 22, 2011
Let's Hear it for New York!
Foreclosures in New York State are one of the lowest in the nation! New York ranked 43rd out of all 50 states for monthly total foreclosure filings according to the U.S. Foreclosure Market Report for November 2011. Better yet, the forclosure rate is a 3.17% decrease from October 2011 and a 42.89% decrease from November of last year.
Nationally, foreclosure rates are down 2.72% from October 2011 and 14.46% from last year.
Read the full RealtyTrac article to take a look at foreclosure rates nationwide.
Nationally, foreclosure rates are down 2.72% from October 2011 and 14.46% from last year.
Read the full RealtyTrac article to take a look at foreclosure rates nationwide.
Monday, December 19, 2011
YouTube
Have you checked out our great YouTube Chanel? Take a peek at this home from John Arquette Properties' agent Barbara Miller.
Wednesday, December 7, 2011
Holiday Sales
Believe it or not, but 60% of Realtors advise their clients to list their homes during the holiday season. "Why"" you may ask. 79% of Realtors believe that buyers are their most serious during the holiday and winter seasons while 61% believe that there is less competition on the market to get the home sold.
There are some challenges to listing and selling your home during the winter though. Realtors believe that poor weather conditions and holiday vacations/events pose difficulties when it comes to showings that will inevitability get the home sold.
Online photos are of the utmost importance (not that they aren't important during the rest of the year) during the holiday season to get buyers to come to open houses and schedule showings. Great online photos will definitely give you the upper hand when it comes to selling your home this holiday season!
Read the full article.
There are some challenges to listing and selling your home during the winter though. Realtors believe that poor weather conditions and holiday vacations/events pose difficulties when it comes to showings that will inevitability get the home sold.
Online photos are of the utmost importance (not that they aren't important during the rest of the year) during the holiday season to get buyers to come to open houses and schedule showings. Great online photos will definitely give you the upper hand when it comes to selling your home this holiday season!
Read the full article.
Tuesday, December 6, 2011
Sell Your Home This Winter
Make your home standout from the rest this winter. Here are some tips to help sell your home this winter:
1-Let There Be Light: Turn the lights on! Make sure all your lights are on (even in the closets) during each and every showing.
2-Accessible Parking: Buyers can't put an offer in on your home if they can't get into your home. Make sure that buyers don't have to walk walk too far to get to your home and that they don't have to walk over piles of snow.
3-Avoid Odor: If you have pets make sure to keep the furnace fans going all day in order to move air around your home to dissipate any odors. Also, resist from cooking anything that carries a strong or peculiar smell the on the same day as a showing.
4-Get Festive: Go ahead and decorate for the holidays! Appropriate decorations for Christmas, Valentine's Day, etc. are a great touch.
5-Remember the Outdoors: Make a clear pathway to your front door that is free of snow and ice. Take care of any landscaping that can be maintained during the winter months.
6-Don't Cook Your Buyers: Don't roast your buyers with an unusually warm home. Keep the temperature at around 65 degrees.
7-Control Winter Clothing: The winter seasons require us to bundle up with scarves, gloves, hats, etc., but don't let them take over your home. Store these neatly away from the buyer's eye. Also, consider moving items from stuffed closets to emptier closets throughout your home.
8-Have Day Time Showings: If possible, try to schedule showings during the day when it is still light outside. Try to have showings between 9am and 3pm.
Remember, buyers that are looking at homes throughout the winter months happen to be some of the most serious buyers so make sure your home stands out!
Read the full article for a few other tips.
1-Let There Be Light: Turn the lights on! Make sure all your lights are on (even in the closets) during each and every showing.
2-Accessible Parking: Buyers can't put an offer in on your home if they can't get into your home. Make sure that buyers don't have to walk walk too far to get to your home and that they don't have to walk over piles of snow.
3-Avoid Odor: If you have pets make sure to keep the furnace fans going all day in order to move air around your home to dissipate any odors. Also, resist from cooking anything that carries a strong or peculiar smell the on the same day as a showing.
4-Get Festive: Go ahead and decorate for the holidays! Appropriate decorations for Christmas, Valentine's Day, etc. are a great touch.
5-Remember the Outdoors: Make a clear pathway to your front door that is free of snow and ice. Take care of any landscaping that can be maintained during the winter months.
6-Don't Cook Your Buyers: Don't roast your buyers with an unusually warm home. Keep the temperature at around 65 degrees.
7-Control Winter Clothing: The winter seasons require us to bundle up with scarves, gloves, hats, etc., but don't let them take over your home. Store these neatly away from the buyer's eye. Also, consider moving items from stuffed closets to emptier closets throughout your home.
8-Have Day Time Showings: If possible, try to schedule showings during the day when it is still light outside. Try to have showings between 9am and 3pm.
Remember, buyers that are looking at homes throughout the winter months happen to be some of the most serious buyers so make sure your home stands out!
Read the full article for a few other tips.
Friday, December 2, 2011
Evictions Stop for the Holidays
Evictions on foreclosed homes (single family and 2-4 family) will be suspended from December 19th- January 2, 2012 according to recent news release from Fannie Mae.
Terry Edwards, Executive Vice President of Credit Portfolio Management, says, "No family should have to give up their home during this holiday season. Fannie Mae is committed to helping borrowers avoid foreclosure whenever possible and we encourage any homeowner who is having difficulty making their payment to reach out for help.”
Check out the full News Release from Fannie Mae.
Terry Edwards, Executive Vice President of Credit Portfolio Management, says, "No family should have to give up their home during this holiday season. Fannie Mae is committed to helping borrowers avoid foreclosure whenever possible and we encourage any homeowner who is having difficulty making their payment to reach out for help.”
Check out the full News Release from Fannie Mae.
Thursday, December 1, 2011
Time to Buy! (Really, It's Time to Buy!)
It's true, now is the time to buy.
Home ownership is only going to get more afforadble as it is expected that rents will rise by 4% this coming year.
Even cities where it still is currently cheaper to rent than it is to own have seen great striced in making home ownership more affordable. For example, in San Diego it has typically cost 83% more to own a home as opposed to renting. But now it only costs 22% more to make the leap into home ownership.
We can only assume that afforadibilty will continue to increase as home prices decline. With such low home prices and low mortage rates it truley is the time to buy. You deserve to have your own home!
Check out the full Wall Street Journal article.
Low home prices and even lower mortgage rates (currently hovering near 4%) have made made home ownership more affordable than the last 15 years! To top it all off home ownership has become less expensive than renting in many cities!
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| Copyright: Wall Street Journal |
Even cities where it still is currently cheaper to rent than it is to own have seen great striced in making home ownership more affordable. For example, in San Diego it has typically cost 83% more to own a home as opposed to renting. But now it only costs 22% more to make the leap into home ownership.
We can only assume that afforadibilty will continue to increase as home prices decline. With such low home prices and low mortage rates it truley is the time to buy. You deserve to have your own home!
Check out the full Wall Street Journal article.
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