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

Comments Off · Share With a Friend

Tagged with interest rates

Homes Sold In The Lake Country Area

July 15, 2009 at 05:07 PM

Wow, homes are really moving! You can see here that the first time home buyers are starting to heat up the market. One reason we’re seeing so much traffic in these price ranges is the first time buyer tax credit.

Click graph below for full size

Buyers have to be in their house by the end of November in order to take advantage of the credit. And what better time to buy? The interest rates are low and prices are affordable. Call me to see any home out there!

Posted by:Lisa Tremaine

Comments Off · Share With a Friend

Tagged with interest rates

What's So Great About The Real Estate Market In 2009?

April 07, 2009 at 08:11 PM

Whether you’re thinking about buying or selling, 2009 will definitely shine! Think about a time when you’ve made a great decision but didn’t know how great it really was until you looked back on it. This is the year that buyers, and some sellers, are going to look back and think exactly that!

Let’s say you want to buy a new home but aren’t sure you can sell your existing home. First, if you are considering moving up to a larger home, 2009 is a fantastic time to sell! You may not have as much equity in your home as you had a couple of years ago, but you will be able to get a terrific deal on your new home. For example, you own a $250,000 house and need to sell it to buy a larger $350,000 home. While it's true that in 2006 you might have sold your home for $260,000, you also would have paid $375,000 for your new house. In other words, in this market you may lose $10,000 on your current home, but you will be save $25,000 on your new home, for a net gain of $15,000!

Read the complete article >

Comments Off · Share With a Friend

Tagged with interest rates