I purchased my home in 2011, when I could no longer afford to rent an apartment in Ann Arbor. That is what people have been realizing for the last few years. With interest rates at historic lows people that at one time would be hard pressed to purchase a home, even though they had good credit, could purchase a home. The low rates also helped with people that were upside down in their mortgage, giving them the ability to refinance and keep their home.
It now seems that this trend is going to be changing because of a jump in Mortgage interest rates. Now they are at about 4.5% APR instead of 3.5% from last month up to last week. The rates are going to continue to rise this is in response to the FED no longer paying to keep them low and helping to prevent another bubble collapse.
The good new is if you have been thinking about buying a home, but for some reason have not started looking, this should be your catalyst! Find a realtor now and get looking because in the 12 months when you are "Ready" you may not be able to afford what you can today. Stock brokers are noted for saying buy low sell high, I like to think in real estate that applies but you also can pay less interest then you earn.
IF YOU MOVE FAST YOU CAN STILL EARN MORE EQUITY THEN IT COSTS YOU TO FINANCE!
Tuesday, June 25, 2013
Tuesday, June 18, 2013
Rolling
So have you ever got rolling on one project in your life only to realize that everything else has come screeching to a halt?
Yeah that is how I feel with social media, even though it helps to relax and get ideas out it is often the the area that takes a hit it my life. It has been a crazy couple of months in Ann Arbor the Spring housing market hit in late February instead of March/April so I have been trying to keep up with the changes.
Change is the only constant in my life right now and it is about to change again! The market which has been in overtime is about to change again in the next few months. With interest rates on the rise and homeowners realizing they can sell their house now and may see a profit the housing market is going to balance out again. Not tomorrow but probably by the end of the year we will see the change again. My tactic is now changed to don't miss the sellers market, sell today!
We've been so busy around here that I was unable to train properly for the Tour De Cure. But I still stand by my earlier post and will be donating a portion of my home sales to the ADA and have begun training for next years ride.
That is my update for today. Have a great one!
Yeah that is how I feel with social media, even though it helps to relax and get ideas out it is often the the area that takes a hit it my life. It has been a crazy couple of months in Ann Arbor the Spring housing market hit in late February instead of March/April so I have been trying to keep up with the changes.
Change is the only constant in my life right now and it is about to change again! The market which has been in overtime is about to change again in the next few months. With interest rates on the rise and homeowners realizing they can sell their house now and may see a profit the housing market is going to balance out again. Not tomorrow but probably by the end of the year we will see the change again. My tactic is now changed to don't miss the sellers market, sell today!
We've been so busy around here that I was unable to train properly for the Tour De Cure. But I still stand by my earlier post and will be donating a portion of my home sales to the ADA and have begun training for next years ride.
That is my update for today. Have a great one!
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