Plan all you want, but life rarely exhibits perfect timing, especially when it comes to buying or selling a home. A new job or a life changing event can put you in the market when you least expect it. There is, however, one plan that's always a given working with a sales professional backed by the unsurpassed resources of a nationally respected, high-profile real estate company with vast marketing resources. Now, more than ever, the knowledgeable real estate professional can help you turn uncertainty into opportunity.
Today's home market presents both challenges and opportunities. Growing inventories are balanced by historically low interest rates. But even with all the mixed signals, people still want and need to find new homes. You don't control the market, but you do control how successfully your home is marketed by selecting the right real estate professional.
Think no one's buying homes these days? You'd be surprised. More than 5.5 million people are buying homes this year, and a dedicated Realtor can help you find them.
Will higher inventories push down home prices or will low interest rates keep prices steady? This kind of short-term uncertainty freezes many buyers. But if you can take a longer term view, you've got the perfect opportunity to find your true dream home…one with a master bedroom on a different floor than the kids. Look around. Now could be a great time to buy.
Different housing markets bring different opportunities. Today, buyers who can take a long-term view of the market will find large inventories and low interest rates a perfect combination for taking your time and finding that once-in-a-lifetime home you couldn't wait around for the last time you bought.
Renting might seem like the safe move, especially in a home market filled with uncertainty. But with rising rents, historically low interest rates, and the tax advantages of home ownership, the time to buy may already be here.
About a week ago, Freddie Mac released the results of its Primary Mortgage market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 6.26 percent with an average of 0.4 point for the week ending November 1, 2007, down from the previous week when it averaged 6.33 percent. Last year at this time, the 30-year FRM average 6.31 percent. The 30-year FRM has not been this low since the week ending May 17, 2007, when it averaged 6.21 percent.
The 15-year FRM averaged 5.91 percent with an average 0.4 point, down from the previous week when it averaged 5.99 percent. A year ago, the 15-year FRM averaged 6.02 percent. The 15-year FRM has not been this low since the week ending May 10, 2007, when it averaged 5.87 percent.
The bottom line? Today's market combined with low interest rates presents excellent opportunities for home buyers and sellers alike. The key is working with a knowledgeable, experienced real estate professional who knows the market and what it takes to get the job done.
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