In Pinellas County, specifically the beaches along the barrier islands from Clearwater Beach, St Pete Beach, the housing market is strong and prices continue to rise.
Some Buyers of Real Estate feel that if there is a lot of interest on the house they rather pass on it because they “don’t to get in a bidding war”. That might be a mistake. The best properties, listed at competitive prices generate a lot of interest, and you might be passing out on a home that you like, that you could possibly get at a bargain price.
I don’t know what your experience is, but I have to strongly and passionately pursue everything I really want out of life. The attitude of “it will be if it’s meant to be” has never worked for me. Sure I have faith, and I pray, but I also go for it. It is fine if something does not work out as I planned, but at least I know I gave it my best shot.
Now that the market is changing, it is very important to go after the good deals, act fast, and yes, get into the bidding wars. I’ll help you “fight for it”.
I love what I do. You’ll love the results.
Fewer first-time home buyers are jumping into the housing market nowadays, accounting for 34 percent of all buyers in July. While that percentage has inched up slightly as of late, it still remains far from the 40 percent levels first-time home buyers generally account for in the housing market, according to the National Association of REALTORS®.
With ultra low mortgage rates and high housing affordability, first-time home buyers may never have a better time to jump into the housing market. But several factors are keeping them on the sidelines.
One of the biggest obstacles? Saving for the down payment, according to recent home buyer surveys. The second-biggest hurdle cited was poor credit history, which was making it difficult for first-timers to qualify for a mortgage. A high unemployment rate among younger adults — who often make up the biggest group of first-timers — is also holding many back. Also, first-time home buyers, who need financing for their home purchase, are increasingly losing out to investors who are willing to pay entirely in cash.
Housing experts say that first-time home buyers are a critical component for a sustainable housing recovery.
“First-time buyers are vital to boosting sales, especially during downturns, since when they buy a home, they aren’t also selling a previous home to finance the purchase,” according to MarketWatch.
Source: “Fewer Home Buyers Are First-Timers,” MarketWatch (Aug. 22, 2012)
Fixed-rate mortgages once again inched up this week, the third consecutive week of increases after reaching all-time lows, Freddie Mac reports in its weekly mortgage market survey.
“The latest economic indicators point toward low inflation but gradually stronger economic activity which placed further upward pressure on long-term Treasury yields and, in turn, fixed mortgage rates,” Frank Nothaft, Freddie Mac’s chief economist, said about why mortgage rates have been reversing course in recent weeks.
Here’s a closer look at mortgage rates for the week ending Aug. 16:
- 30-year fixed-rate mortgages: averaged 3.62 percent, with an average 0.6 point, this week, increasing from last week’s 3.59 percent average. A year ago at this time, 30-year rates averaged 4.15 percent.
- 15-year fixed-rate mortgages: averaged 2.88 percent, with an average 0.6 point, rising from last week’s 2.84 percent average. Last year at this time, 15-year rates averaged 3.36 percent.
- 5-year adjustable-rate mortgages: averaged 2.76 percent, with an average 0.6 point, falling slightly from last week’s 2.77 percent average. Last year at this time, 5-year ARMs averaged 3.08 percent.
- 1-year ARMs: averaged 2.69 percent, with an average 0.4 point, rising from last week’s 2.65 percent average. A year ago at this time, 1-year ARMs averaged 2.86 percent.
Source: Freddie Mac/Realtor Mag
New study shows that buying is more beneficial than renting. Allow me to assist you with your home search. Not enough downpayment? No problem. There are 100% financing options available. Contact me today.
Charles Rutenberg Realty, Inc.
SEARCH FOR PROPERTIES AT besthouses2go.com
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This past Tuesday at its meeting, the Federal Reserve reaffirmed its pledge to keep interest rates low. The housing sector remains depressed, affordable prices and attractively low interest rates will continue to help buyers and sellers of real estate.
The other thing we desperately need is for the banks to move faster on short sales and foreclosures that continue to hurt families, communities and markets.