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Home for the Holidays

December 07, 2009 at 05:35 PM · Posted under Pete O'Connor

This holiday shopping season is expected to be a brisk one! Not because its cold outside and there’s white stuff on the ground, but because there are values to be had for the savvy shopper. Specifically, the first time home buyers, and the move-up home buyers! With the Federal Government providing a $8000 and $6500 incentive respectively, now is the time to buy a home! That however is somewhat old news; most everyone is aware of the tax credit, but what may not necessarily be flashing in neon lights are some things that can affect the home buyer’s ability to purchase a home. Primarily, I’m thinking of the overall economic state of the union and interest rates.

With all time low interest rates, it doesn’t get any cheaper to borrow money than now. Rates in some areas are hovering around 4.5 to 4.875 percent. From the rumblings I’m hearing, it sounds as if after the first of the year rates are expected to go up, and maybe by a full point. But the question remains… “Why are interest rates going up?” One of the key factors affecting interest rates is the bond market. When bond rates go down, interest rates go up. Rumblings that I’m hearing from folks are that bond rates are going down after the first of the year.

On a final note, a few other issues that the potential home buyer should consider are two things. First, when taking advantage of this home shopping season, be sure that you ask for a home warranty in your offer to purchase, and also, something new called “Job Loss Protection”. Job Loss is a great tool and is just that. Who wants to buy a home and then unexpectedly get a pink slip. I’ll blog more about Job Loss Protection tomorrow.

In the mean time, check out some great homes by clicking here. Or view streaming digital video of more great homes by clicking here.

If you have any home buying or home selling questions, please don’t hesitate to give me a call or shoot me an e-mail, I’m always happy to help! 262-694-2141, 262-320-SOLD (7653), or my mobile phone: 608-770-4568. Email me at: soconnor@shorewest.com, or visit me on the web at www.peteoconnor.com. Happy shopping!

Posted by:Pete O’Connor

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Are You Ready?

September 04, 2009 at 07:16 PM

Sometimes when I’m helping my clients, particularly buyers, I can’t help but wonder if they are really ready to buy a home. Are they only buying because of the tax credit that’s being offered? Are they buying to fix and then tango with making a buck selling later?

When did buying a house become an investment in anything other than your happiness? I have to say, I do come across many buyers who are buying for just that. To make an improvement in their life. The differences between the two kinds of buyers, as well as the experience each has, is like night and day. One is careful, thoughtful and celebratory, while the other is tense, hesitant, and lacks any sort of resolve or finale.

Are you ready to be the kind of buyer you want to be?

I recently read this article that I thought summed it up quite nicely.

“I think I could write a successful blog just on what I read in the Chicago Tribune each day. Why I even read the Tribune is a quandary to me, given that the paper reads more like the Huffington Post these days. From time to time I enjoy real estate writer Mary Umberger, although I think she’s a little pessimistic on the market, and do think she ignores the real reasons that people buy houses for. And she ignores me when I write to her with article ideas.” To read more, click here.

Posted by:Lisa Tremaine