Saturday, October 20 2012
As I've been saying for a few months now, trends in the housing market have been indicating that discount home prices and bargain-rate mortgages have reached their lowest levels (or pretty close to them) and that the best time to buy a new home is rapidly ending. The latest economic news seems to support my opinion.
According to Mortgage Time, a weekly newsletter for Real Estate Professionals from Access National Mortgage, mortgage rates have been driven by economic data that was generally stronger than expected, which caused rates to end the week higher.
Some of the important factors indicating recent economic growth include:
While I don't want to be redundant, let me just repeat this one more time:
If you have been considering buying a new home, NOW IS THE TIME!
Once they've gone back up, we won't see home prices and mortgage rates this low for years to come, if ever.
If you need help finding your next home, give me a call at (317) 446-4605. With almost 20 years experience representing home buyers, I have helped hundreds of families find their new homes in Carmel, Fishers, Noblesville and the entire North Metro Indianapolis area.
* src: Bloomberg.com, U.S. Industrial Production Rises in Stabilization Sign, Lorraine Woellert, Oct 16, 2012
Tuesday, September 25 2012
In an ongoing trend, traditional market indicators continue to demonstrate that the Indianapolis and Central Indiana housing market is making a consistent recovery, with strong gains in activity and consistency in price.
According to the August Monthly Indicators Report of BLC® listing service data recently released by the Metropolitan Indianapolis Board of REALTORS® (MIBOR,) the number of closed sales in Central Indiana increased by 14.5% in the three months ending in August 2012 when compared to the same three-month period last year. In August alone, closed sales increased by 12.3 %.
Other findings in the report included:
This is just one more indication that right now is the time to buy a new home before prices go up too far and good deals become harder to find.
For help finding your new home in Carmel, Noblesville, Fishers, or anywhere in the north metro Indianapolis area, give me a call at (317) 446-1605.
With almost 20 years as a Hamilton County REALTOR® specializing in representing buyers, I can help you find the neighborhood and new home that meets the needs of you and your family.
Sunday, September 23 2012
According to an announcement made last week, the Federal Reserve will purchase $40 billion a month of mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac in an effort to support a stronger economic recovery, to help ensure that inflation, over time, is at a mandated consistent rate, and to keep downward pressure on interest rates to help boost the housing recovery.
The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions have improved, primarily in unemployment.
This is good news for consumers, as it should keep mortgage rates at their current extremely low levels for the foreseeable future.
Additionally, CNBC Real Estate Reporter Diana Olick speculates that this decision could drive more investors to commercial real estate.
In a follow-up statement, the Federal Reserve released its latest economic projections, which foresee slow growth including a jobless rate that stays above 7 percent into 2014. The economic projections expect growth to remain slow, but to improve due to the stimulate measures announced.
You can read these reports for more information on the subject:
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