1. Not knowing how much they can afford. Before you fall in love with a house you can’t afford, talk to a qualified lender and get pre-approved for a mortgage. Then you’ll know in which price range to look.
Check back tomorrow for #2!
October Home Sales Up 10%
According to the National Association of Realtors, home resales rose 10% from September. It was the highest sales level since February, 2007. This is partly attributable to the first-time buyer tax credit, which was set to expire in November but has now been extended through April 30, 2010.
30-Year Interest Rates Remain Below 5%
According to Freddie Mac, interest rates on 30-year mortgages remain below 5%, averaging 4.83%. Interest rates on 15-year fixed rate mortgages fell to 4.32% this week. This news, together with the extension of the homebuyer’s tax credit, makes buying a home a smart decision.
Spring in Texas Usually Means Rain
All buyers in Texas should be made aware of flood risk and have their facts straight about insuring their property. Twenty-five persent of all flood claims come from areas considered to be a low or moderate risk. FEMA makes a good effort at drawing flood plain bounderies, but rising water doesn’t stop at an imaginary line. For more information about flood insurance, risk of flood, and tips for homeowners, visit Floodsmart.gov
Homebuyers Want to Buy Green
Nine out of ten homebuyers say they want environmentally friendly homes. The “green” features homebuyers are most interested in are as follows; 90% want reduced heating & cooling costs, 73% are interested in energy efficient appliances, 70% want energy efficient lighting, 51% care about an environmentally minded community and 49% are interested in green landscaping.
2009 Big Opportunity
This year and on into next year may be once in a lifetime opportunity to buy a home at the best price in the DFW Metroplex. The Dallas area has a six month inventory which is considered a healthy market. The number of houses on the market have fallen 14% from this time last year.
Interest rate change
Major media outlets and consumer advocacy organizations have realized the value and need for this specialized type of real estate service:
* The Wall Street Journal
* National Association of REALTORS®
* Consumer Federation of America
* Consumer advocate Ralph Nader
* American Association of Retired Persons (AARP)
* Changing Times Magazine
* Readers’ Digest
Did you know that each of these sources has recommended using a buyer’s agent or broker? In fact, they all suggest consumers are better served by working with a buyer’s agent or broker.
Foreclosures
Foreclosure percentages in the Dallas area are dramatically below the 1.7% of U.S, mortgages in foreclosure at the end of Decemeber 2008. Our area is strong compared to the rest of the nation.
Professional Endorsements: Recommendations from the Experts
Major media outlets and consumer advocacy organizations have realized the value and need for this specialized type of real estate service:
* The Wall Street Journal
* National Association of REALTORS®
* Consumer Federation of America
* Consumer advocate Ralph Nader
* American Association of Retired Persons (AARP)
* Changing Times Magazine
* Readers’ Digest
Did you know that each of these sources has recommended using a buyer’s agent or broker? In fact, they all suggest consumers are better served by working with a buyer’s agent or broker.
One of our favorite quotes:
One of our favorite quotes:
“Unlike the traditional agent who looks out for the seller, a buyer
broker acts as your advocate, helping you find the home you want and
then negotiating the lowest possible price. The best buyer brokers are
so-called exclusive agents – that is, they represent only buyers, never
sellers…”
–Money Magazine