Friday, October 29, 2010

Well, a number of things to mention here:
First, interest rates continue near their all time lows. Although the 30o and 15 year fixed rates did tick up again this week, they are still within a few basis points of historic lows. For the uninitiated, a basis point is 1/100th of one percent. So, this type of change would be as if rates went from 4.21 to 4.23%--negligible. If you're thinking of buying, do it NOW! Sellers should also be encouraged by these rates available to their buyers.

Second, and I don't often talk about this here, but jobs are very slowly appearing to increase. The latest unemployment stats out the middle of this week showed reductions in first time claims, and increases of jobs reported. While I'm not even close to intimating that all is now well in the jobs market, it is an encouraging sign. More important, more people working means more folks able to buy a house. Again, sellers--maybe you should start thinking about moving on that decision to put your home on the market--or prep it so it's ready to go soon after the holidays.

Speaking of which: Happy Halloween!

Friday, October 22, 2010

Positive News!
Also known as GOOD NEWS! Also known as something to be happy about! In figures announced yesterday (10-21-10), home values in Marin County showed major positive moves, both against the prior month figures and compared to a year ago. For September 30, 2010, homes in Marin showed an average increase in value compared to a year ago of 4%. The median price is $765,000 for the county, up from last year's $734,500 figure. The latest values also show an increase from August 2010, when the median price was $725,000. Do these mean that the housing crisis is over? No, but they definitely indicate a returning enthusiasm from buyers, and that benefits everyone.
Stay tuned.

Saturday, October 16, 2010

Well, this week's news is pretty much more of a little bit of good news. Prices in general (and, yes, there are exceptions based on specific locales) continue to show an upward direction. No, they're not rocketing to the moon as they seemed to do on a daily basis a few years ago, but the general trend appears to continue upward. Forecasts are for an increase in 2011 of 2-4% in values. Better than a sharp stick in the eye--or anywhere else for that matter.

Interest rates; just when everyone thinks the latest record can't possibly be broken, another week goes by and there is a new record low! For this week, thirty year fixed rates are now averaging a new all-time low of 4.19%. If that's not enough to get you excited, how's this--fifteen year rates, fixed, are also at an all-time low of 3.62%. Neither figure is a typo, so get out there and buy if you're looking for a home. If you're trying to decide about selling, what better time? Your buyers can more easily afford your home, and you, likewise, can qualify for a loan to buy your new home!
Good luck!

Friday, October 08, 2010

The Latest for the week!
Mortgage rates continue heading for the basement, as they once again hit all time record lows (as long as records have been formally kept). For thirty year fixed rate loans, the rate dropped to 4.27%! If that still isn't low enough for you, grab a fifteen year loan. It will only cost you 3.72%! Neither of these is a typo--just where the rates are going. How long can they continue at or below these levels is anyone's guess, but I can't think of a better reason to get out and buy, if you're looking for a home. You sellers out there are also at an advantage with these rates, as it only encourages buyers to get out and look for a home to buy. What better one than yours?!