According to Jeff Jensen of Connecticut Home Mortgage, current mortgage lending rates for 9/22/10 are as follows:
30 year fixed rate - 4.125-4.375%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.75%
5/1 Interest Only - 4.125%
Jumbo 15 year fixed rate - 4.125%
Thursday, September 23, 2010
Tuesday, September 21, 2010
7 Reasons to Use a Realtor for New Construction
Traditionally, when potential homeowners decide to search for a new home, they call they Realtor. However, often when new construction is the plan, buyers often go it alone. But don’t be short sighted, your Realtor can be exceptionally helpful and well worth his or her commission.
New construction often boasts great floor plans with large family rooms and a wide array of special features and appointments. Energy efficient products are standard while new building materials often help reduce future utility bills. In addition, the roof and most appliances have many years until replacement will be necessary.
Although you may not deem it necessary to involve your Realtor when working directly with a builder, it could prove to be quite prudent. By enlisting a Real Estate agent you are hiring a professional who will help guide you through the process and protect your interests.
7 advantages to consider when using a Realtor during the building process:
1. Builders differ greatly. Some are known for being able to build at a “great” price, while others typically build with only the finest materials. It’s important to depend on reputation and previous clients. Your broker’s experience can provide these references.
2. Brokers know the market well, and can help you negotiate an appropriate price that does not place your cost above market value.
3. As a buyer, you are most likely only constructing a new home once with a builder. However, your Realtor may work with the builder many times over the years. Since repeat business is imperative to most businesses, your builder is more likely to go above and beyond to impress your Realtor and you.
4. Agents deal with mortgage brokers, appraisers and banks regularly. Your loan process tends to move along smoother when your agent oversees the progression.
5. Even the best buyer-builder relationships can have kinks during the building course. Your Realtor can be the voice of reason and well versed on industry standards.
6. If you are relocating to a new area, your agent can provide local area information. He or she can also be your eyes and ears periodically at the construction site.
7. Lastly, typically the builder agrees to pay the sales agent’s commission, so you are receiving support and attention at no additional cost to you.
Building a new home can be a tough journey. Having a Real Estate professional on your team can help smooth the bumps and tackle the hurdles so you can enjoy the ride.
New construction often boasts great floor plans with large family rooms and a wide array of special features and appointments. Energy efficient products are standard while new building materials often help reduce future utility bills. In addition, the roof and most appliances have many years until replacement will be necessary.
Although you may not deem it necessary to involve your Realtor when working directly with a builder, it could prove to be quite prudent. By enlisting a Real Estate agent you are hiring a professional who will help guide you through the process and protect your interests.
7 advantages to consider when using a Realtor during the building process:
1. Builders differ greatly. Some are known for being able to build at a “great” price, while others typically build with only the finest materials. It’s important to depend on reputation and previous clients. Your broker’s experience can provide these references.
2. Brokers know the market well, and can help you negotiate an appropriate price that does not place your cost above market value.
3. As a buyer, you are most likely only constructing a new home once with a builder. However, your Realtor may work with the builder many times over the years. Since repeat business is imperative to most businesses, your builder is more likely to go above and beyond to impress your Realtor and you.
4. Agents deal with mortgage brokers, appraisers and banks regularly. Your loan process tends to move along smoother when your agent oversees the progression.
5. Even the best buyer-builder relationships can have kinks during the building course. Your Realtor can be the voice of reason and well versed on industry standards.
6. If you are relocating to a new area, your agent can provide local area information. He or she can also be your eyes and ears periodically at the construction site.
7. Lastly, typically the builder agrees to pay the sales agent’s commission, so you are receiving support and attention at no additional cost to you.
Building a new home can be a tough journey. Having a Real Estate professional on your team can help smooth the bumps and tackle the hurdles so you can enjoy the ride.
Thursday, September 9, 2010
Is Your Home Not Selling? It’s Not Personal
As home sellers look to move out of their “American Dream”, many are facing a new reality in today’s market. Sellers are finding a lack of options due to limited equity in their properties, especially if purchased after 2003. Some are numbed by deflated prices and are finding it tough to justify new realities.
While hoping not to lose any additional ground, some homeowners have dug in their heels regarding pricing. Others are letting emotions stand in the way of good analysis and end up taking current market conditions personally. Buyers are centered on getting abundant amenities at a maximum value. Both sides need to be realistic and take into account fair market value over what they want to pay or receive for the property.
There are many compelling reasons to make your move now. Interest rates continue to be at record lows. No one can accurately predict when they will go back up. In addition, if you are selling for less, you will be able to capitalize on your next purchase by buying for less while taking advantage of lower borrowing rates.
Your Realtor, your local expert, can provide fair market value information, comparables and personal knowledge to enable you to make an educated decision. Pricing your home for sale just below market value will attract buyer’s and agent’s attention, while overpricing it will most certainly turn them away. Even if an overpriced home is later adjusted down, it is often too late, and tough to recapture interest.
Keep in mind the following conditions:
• Appearance and overall condition. – Do not rely on a buyer to have a great imagination. Make your for sale home appear light and bright. De-clutter by removing furniture. A good realtor can advise you how to best rearrange your space to be the most appealing to a buyer. Remove clutter and excess knick-knacks and create an overall feeling of openness. Have a discerning eye review your exterior. Are bushes trimmed back or are they blocking the walkway? A freshly painted front door does wonders without much capital expense.
• Terms – Although you may have properly price your home, insure that your terms are reasonable too. Be open minded on what it will take to “get the deal done”, without giving up on what you need!
• Incentive - Offering an allowance to paint or re-carpet may be very appealing to an overwhelmed buyer. Or, consider purchasing a home warranty for the buyer, to help with unforeseen expenses. What incentive will a buyer have to buy your house over another? There are a lot of options on the market, make sure yours shines brightest.
You have heard this from me before, but the market still has great opportunities for both buyers and sellers. Be educated and put your best foot forward from the beginning. Align yourself with a top well informed realtor who will keep you up to date and informed while still realistic on pricing and current market conditions. Please feel free to contact me Linda@GoAskLinda.com if I can help you.
While hoping not to lose any additional ground, some homeowners have dug in their heels regarding pricing. Others are letting emotions stand in the way of good analysis and end up taking current market conditions personally. Buyers are centered on getting abundant amenities at a maximum value. Both sides need to be realistic and take into account fair market value over what they want to pay or receive for the property.
There are many compelling reasons to make your move now. Interest rates continue to be at record lows. No one can accurately predict when they will go back up. In addition, if you are selling for less, you will be able to capitalize on your next purchase by buying for less while taking advantage of lower borrowing rates.
Your Realtor, your local expert, can provide fair market value information, comparables and personal knowledge to enable you to make an educated decision. Pricing your home for sale just below market value will attract buyer’s and agent’s attention, while overpricing it will most certainly turn them away. Even if an overpriced home is later adjusted down, it is often too late, and tough to recapture interest.
Keep in mind the following conditions:
• Appearance and overall condition. – Do not rely on a buyer to have a great imagination. Make your for sale home appear light and bright. De-clutter by removing furniture. A good realtor can advise you how to best rearrange your space to be the most appealing to a buyer. Remove clutter and excess knick-knacks and create an overall feeling of openness. Have a discerning eye review your exterior. Are bushes trimmed back or are they blocking the walkway? A freshly painted front door does wonders without much capital expense.
• Terms – Although you may have properly price your home, insure that your terms are reasonable too. Be open minded on what it will take to “get the deal done”, without giving up on what you need!
• Incentive - Offering an allowance to paint or re-carpet may be very appealing to an overwhelmed buyer. Or, consider purchasing a home warranty for the buyer, to help with unforeseen expenses. What incentive will a buyer have to buy your house over another? There are a lot of options on the market, make sure yours shines brightest.
You have heard this from me before, but the market still has great opportunities for both buyers and sellers. Be educated and put your best foot forward from the beginning. Align yourself with a top well informed realtor who will keep you up to date and informed while still realistic on pricing and current market conditions. Please feel free to contact me Linda@GoAskLinda.com if I can help you.
Mortage Lending Rates 9/9/10
According to Jeff Jensen of Connecticut Home Mortgage, current mortgage lending rates for 9/9/10 are as follows:
30 year fixed rate - 4.375-4.50%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.875%
5/1 Interest Only - 4.125%
Jumbo 15 year fixed rate - 4.25%
30 year fixed rate - 4.375-4.50%
Jumbo 30 year fixed rate - 5.125%
5/1 ARM- 3.875%
5/1 Interest Only - 4.125%
Jumbo 15 year fixed rate - 4.25%
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