Selling or buying your home at the Right Price

Selling or buying your home at the Right Price
Fair Market Value is always the Right Price

Wednesday, January 14, 2015

More good news for real estate in 2015!

Nothing but good news for buying or selling a home in southern NJ.

  1. Low, low interest rates!
  2. Less snow than last year
  3. Gas prices under $2.00 a gallon
  4. Ample supply of well priced homes.
  5. Good buyer traffic at Open Houses (indicating buyer confidence is up)
  6. FHA just lowered MIP (Mortgage Insurance Premium)by a 1/2% effective 1/26/15
  7. Fannie Mae & Freddie Mac backed mortgages have a 3% down payment for 1st time buyers
  8. Homeownership is now cheaper than renting a home!

Friday, January 2, 2015

Happy New Year 2015!

There are so many predictions about the housing real estate market for 2015. How many of last year's expert predictions were right?

2014 Prediction #1:  Housing prices will rise to double digits!
Fact: In southern NJ prices basically only rose slightly not double digits

2014 Prediction #2: Foreclosures would slow down!
Fact: On 12/30/2014 the Courier Post, South Jersey's leading newspaper posted 14+ pages of Sheriff Sales of homes in Camden County, hardly a slow down!

2014 Prediction #3: Affordability would decline!
Fact: Gas prices are significantly lower. Interest rates declined, banks are easing credit requirements and on 12/10/14, three (3%) down payments became available on conventional Fannie Mae & Freddie Mac backed loans. All of which make homebuying more affordable and homeownership easier to obtain.

2014 Prediction #4: Interest rates would climb by the end of 2014!
Fact: Janet Yellin, Federal Reserve chairman announced that "the Fed" would hold interest rates down for a while thru the beginning of 2015. Mortgage interest rates actually went down in 2014!

Here are my 2015 Predictions:
Spring will be followed by Summer, Summer will be followed by Fall, Fall will be followed by Winter.
Sellers will still be selling homes
Buyers will still be buying homes
Life will go on.