If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Answering the following 3 questions will help you determine if now is actually a good time for you to buy in today’s market. 1. Why am I buying a home in the first place? This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money. For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.” This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons why people buy a home have nothing to do with money. They are:
2. Where are home values headed?According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months. What does that mean to you?Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price. 3. Where are mortgage interest rates headed?A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase over the next twelve months as you can see in the chart below: Bottom LineOnly you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.
SOURCE: KCM
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PRICE IMPROVED! 11 Washington Dr, Granby CT @$184,900
Come home to this Poet’s Corner charmer set on a cu-de-sac near the Granby/Simsbury line. Many improvements made including a new furnace and newer roof. Hardwood throughout, eat in kitchen, and family room with sliders leading to an open private backyard. #PriceImproved #Granby #SellingCT #SimardRealtyGroup Some Highlights:
SOURCE KCM Whether you are considering the purchase of your first home or trading up to the home your family frequently fantasizes about, there are three crucial questions you must know the answer to:
The percentages are quite disturbing but can explain why so many people believe they are not eligible to purchase a home whether it is a first home or a trade-up home. Here are the actually requirements as per Fannie Mae: Bottom LineIf you are considering purchasing a home, make sure you are aware of all your options before moving forward.
Source KCM For Sale!
11 Washington Dr Granby CT 06035 Come home to this Poet’s Corner charmer set on a cul-de-sac near the Granby/Simsbury line. Many improvements made including a new furnace and newer roof. Hardwood throughout, eat in kitchen, and family room with sliders leading to an open private backyard. Want more info? View it here: http://11washingtondrive.thebestlisting.com/ #ForSale #Granby #SellingCT #SimardRealtyGroup Coming Soon!
90 Clover Hill Dr Feeding Hills MA Great location for this updated home in Feeding Hills. Fully finished lower level. 3 beds two full baths. Good sized flat backyard with patio area. Value priced at $249,900. #ComingSoon #FeedingHills #Massachussets #SimardRealtyGroup 3 Sachems Trl | Under Contract!
Congrats to our clients, this is a wonderful home. #SimardRealtyGroup #Simsbury #CongratsToOurBuyers #Findyourhome #HomeBuying Find your new home at SimardRealtyGroup.com Some Highlights:
“2 Tips For Getting The Most Money When Selling Your House”
Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible. 1. Price it a LITTLE LOW This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house. Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. In that way, the seller will not be fighting with a buyer over the price, but instead will have multiple buyers fighting with each other over the house. Realtor.com, gives this advice: “Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.” 2. Use a Real Estate Professional This too may seem counterintuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional. Research posted by the Economists’ Outlook Blog revealed that: “The median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 – nearly $40,000 more for the typical home sale.” Bottom Line Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house. Selling in the Granby, East Granby, Suffield, Simsbury, Windsor, Bloomfied, New Hartford, Barkhamsted, and Western MA areas including Southwick, Agawam, and Westfield I can help! Source KCM #RealEstateAdvice #SellingCT #SellingMA #SimardRealtyGroupLLC
143 Silkey Rd Granby - A perfect country setting!
Fantastic opportunity to own this special property with scenic views on one of Granby’s most desired streets. Includes over 17 acres of rolling pastures, stone walls, a pond, and barn/outbuilding with 8 stalls, water and electricity. #ForSale #Granby #SellingCT #StephenSimardRealtor #SimardRealtyGroupLLC |
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