Black Friday Real Estate Opportunity

Thanksgiving weekend creates a fabulous opportunity for my buyers to purchase their new home at a great price. Here’s why.  

· Less Competition

· Great mortgage rates
· More choice, less hassle

I will be working for you on Black Friday and the coming weekend. I’d love to hear from you. Can you drop me a quick reply to let me know when you would like to be settled in your new home?  I wish you and your loved ones a fabulous 2015 Thanksgiving.
Happy Thanksgiving,
Rosa Pace

PRICE REDUCED

Check out the HomePath listings in Salt Lake County! $229,900

Status: Price Reduced

Single Family

MLS ID: 1335119

3 Beds | 2 Baths | 2,196 sq. ft.

 

Two Story Split Style home with stuccoi in West Jordan, brick & vinyl exterior, located in a cul de sac. Home has 3 bedrooms, 2 bathrooms, central air, 2 car garage , R.V. parking, landscaped and partially fenced. This is a Fannie Mae HomePath Property. Contact Agent

 

 

More Sales But Conditions Stay Tough

Home sales are expected to increase to 5.5 million units from 5.3 million next year, but longer-term prospects for home ownership face head winds if younger households continue to find it difficult to

buy. But it’s mainly existing home owners who are benefiting, because the growing economy and persistent shortages of for-sale housing are driving up their equity gains and making it easier for them to become move-up buyers and buyers of vacation and investment property.

For the 88-million-strong millennial generation, the oldest of which is 34 years old, the combination of high appreciation, low inventories, and continuing tight credit conditions is making home ownership a stretch few can afford. As a result, first-timers made up only 32 percent of buyers this year, down from 50 percent in 2010.

Yun predicts the relatively good economy will encourage a growing number of these young people to start households, but many of them will not be home owners. “As they’re coming out of their parents’ basement, they will be renters,” he says. Should inflation rise, short-term interest rates could rise as well, as could long-term mortgage rates, which would put another hurdle in front of younger buyers.

On the plus side, lenders are starting to loosen credit restrictions and there could be further loosening in the years ahead as lenders, credit rating agencies, and financial regulators adjust credit policies to accommodate the credit profiles of younger households. Source RosaPace@realtor.com

Mortgage Rates are Inching Up

Mortgage Rates are Inching Up
The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb

for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve.

Mortgage rates followed, with the 30-year jumping 11 basis points to 3.98 percent, the highest since July. There is only one more report before the December FOMC meeting, which will have major implications on whether we see a rate hike in 2015." Source: RosaPace@realtor.com

“Why You Should Never Buy the Best House

Home buyers are wise to take careful note of the houses around them before they make an offer on that picture-perfect home. Buying the most expensive house in the neighborhood isn’t always the best strategy. Sure, they’ll have bragging rights, but your buyers may need to be informed about some challenges during resale. After all, unloading the priciest home on the block and seeing an increase in equity isn’t easy.

“A lot of buyers forget a home is an investment,” The world changes. Things happen fast. People transfer, people lose their jobs. Now imagine yourself as the seller of that home.”
With the nicest home on the block, home owners who do any upgrades – even minor – may be doing a larger mismatch between their home and the surrounding homes. By considering the home as an investment, buyers will look at homes that leave some room for improvement and that will allow them to build equity and hopefully even pay it off when they do sell. DeSimone goes to the other extreme and actually recommends to his clients buying the worst house in the best neighborhood.
“You can add value on your own,” he says. “If you’re choosing between an awesome house in a crappy location or an awful house in a great location, I would choose the latter.”Improvement doesn’t need to entail a total renovation either. DeSimone says just regular maintenance, refreshing the paint, and making minor repairs that the previous owner ignored could add to the home’s value. On the other hand, if the home is already priced well-above the rest of the neighborhood, even minor changes in those pricey homes won’t likely make much of a difference to the value.

Why Buying the Worst House May Be Best,” DeSimone says.
“At least you can improve the interiors and make it more valuable. If that neighborhood doesn’t actually ‘up-and-come,’ your expensive home is already as viable as it can be.” Source: RosaPace@realtor.com

Our Best-in-Class Mobile Website Just Got Better!

The ZipRealty mobile website has a newly redesigned homepage and improved search functionality to provide customers with an even better real estate search experience. The Homepage has a fresh clean look, and the improved search features allow customers to more easily filter their
searches to find exactly what they’re looking for.

Here’s how:
• The smart search bar now provides auto-complete results for property addresses a...nd zip codes.

• The new “search filter panel” allows consumers to more easily narrow down their search. Rather than manually typing search criteria, users can scroll through their options to choose the one that is right for them.

New Mobile App Features: The ZipRealty Mobile App now features price per square foot information for each property. Additionally, information such as MLS#, HOA Fees, and Property Type have new placement under the “MLS Home Information” section. See More

Why Listing Your Home Over the Holidays?

Conventional wisdom may tell us that the holidays are not the best time to try to sell your
home. After all, many buyers are busy with family activities and holiday gatherings, so they put off shopping for a home until after New Year’s, right?

That may be true, but the fact is that there are still lots of potential buyers out there looking at this time of year and now may be a surprisingly good time to list your home for several reasons. Read more

Renting can be more Costly than Owning a Home

Especially in areas where rising rents are the norm.
As part of this discussion, the buyers’ assumptions that property taxes might disrupt their budget will need to be addressed. Agents might explain that while it’s true that taxes may rise, there also is a strong probability that rent will increase every year.

However, a mortgage payment won’t. For example, renters who pay $2,000 a month could get a $300,000 mortgage for 30 years at a 4 percent fixed interest rate. The monthly interest rate and principal payment would be $1,432.00. Even with insurance at $120 a month, renters would still have room for $448 a month in taxes.

If yearly taxes are $5,300 or less each year, the monthly payment for a home, which builds equity, and a rented home that does not, would be the same. Talk about Equity is understood by renters in a general sense and was cited by 45 percent of the TD Bank Renter Survey respondents as a reason to buy a home.