Friday, July 27, 2012

Rates & Jobs--BOTH Important!
Well, here it is again, the end of the week and new weekly interest rate reports. And just as it has been for the past several weeks, the rates dropped even lower! New records all around. Rates for 30 year fixed loans are now at 3.49%, while fifteen year loans are priced at an average of 2.80! There was one area where a slight rise was experienced, but even here the resulting rate is unbelievably low! This was for adjustables. ARM's rose a few tiny fractions of a point, with five year loans now priced at 2.74% and one year loans at 2.71%. As I said, even with the minuscule increases, these rates are unbelievably low. Great time to buy or, get the buyers enthusiastic about buying from you!
Now, jobs. Jobs nationally, are only improving very slowly. However, here in California in general and the Bay Area in particular, the improvements in the job increases are very strong and mean only one thing--more folks can once again afford to buy a house--YOURS, perhaps! In figures just released this week, the Bay Area showed a 3.8% increase in jobs as compared with a year ago. California overall was up, but by a less spectacular 2% year to year.
Let's face it. If someone is not working, he/she is not very likely to be able to make an offer on your home no matter how badly he wants to buy it. No jobs means no money and no mortgage, which means no sale. Employed, that buyer becomes a horse of another color and someone who could very well take advantage of the low rates and make you a great offer. So, if you're thinking of selling, now is definitely the time to get your home ready. Fix all of those little things you've been putting off until later (whenever 'later' is) and get the house in the best condition and appearance it can be. Remember--buyers usually prefer "done" to "there's lots of work to do". If they accept the latter, it will be for a lower price than the former. Curious about what your home is worth? Want to get some advice on prepping your home for the market? We can do it all. Give us a call. Jane is at (415) 531-4091 and Peter is reachable at (415) 279-6466. We're here for you! Give us a call.

Friday, July 20, 2012

The Latest:
Well, rates continue downward. The latest figures show 30 year fixed rate loans at 3.53%, down from last week's 3.56% and another new record low! Fifteen year fixed rates also hit a new record low: 2.83%! If you follow this blog, you already know my thoughts on how these low rates help both buyers and sellers. So, whichever side of the market you may be on, time to move!
Separately, a leading economist has given an exclusive interview to Pacific Union on the economy and the housing market. In his opinion, the jobs market, while not what most people would like it to be, is still markedly better in the Bay Area, particularly in Marin, The comparatively lower unemployment rate found here is another reason that housing sales have increased both in numbers and prices. When people are working, they are much more likely to be buying houses. If you're thinking of selling, take advantage. There are more potential buyers out there--with the aforementioned cheap money to buy YOUR house.
If you need any info on anything to do with the housing market in Marin, give us a call: Peter: (415) 279-6466 or Jane: (415) 531-4091. We'll help you in any way you need!

Friday, July 13, 2012

Words Won't Suffice!:
Every week that goes by, I figure this is the ultimate bottom on rates and then next week comes to prove me wrong! We hit new lows the past few weeks and yet rates announced yesterday once again show that there was yet more room to move down. Couple this with the recent Case-Shiller report that showed the Bay Area's price increases as the largest of any area in the US, and you have a continuation of the best of tine for buyers and sellers to jump on the bandwagon.
First, rates: a new record low for both 30 and 15 year fixed loans. the 30 year dropped to 3.56%, and no, that's not a typo. We're so far into down, I expect to turn around in my office and see stalactites growing any second! If that rate isn't low enough for you, try the 15 year rate: 2.86%! Amazing! Great if you're a buyer; also great for sellers as more folks can afford to buy your home. Speaking of sellers, the rising of prices, coupled with these low rates make it a better time than any time in the past four or five years to put your home on the market. Just make sure it's ready to go to get top dollar. Unsure? Call us for advice. Peter: (415) 279-6466 or Jane: (415) 531-4091.