Realtors and experts have been saying for some time that it is the time to buy! Buyers who have remained on the fence will now face slightly higher prices in some areas, higher interest rates and for FHA borrowers monthly PMI Payments.
While rates were at the 4% mark just alittle over a month ago, they are now climbing to 5%. FHA loans originated prior to 4/10/2011 will see lower monthly PMI payments however loans originated after 4/10/2011 will see an increase. For example, if you have an FHA mortgage in the amount of $200,000 that originates prior to 4/10/2011 your monthly PMI payment is $150.00. After 4/10/2011 that monthly PMI payment will be $191.67 a month. That is a difference of over $41.00 a month. Combine that with slightly higher prices and higher interest rates and that home you have been thinking of purchase could now be over $200.00 a month higher in payments.
For those that have been on the fence...it's time to jump off, get into this fantastic Buyer's Market we have been experiencing and find your home. Don't wait for the bottom as it seems it may have already passed you by.
For more information on homes available contact Jennifer Daywalt at 610-999-7693 or email me at Sellinghomesjenn@aol.com. For a complete list of homes available visit www.JenniferDaywalt.remax.com
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Wednesday, February 16, 2011
Tuesday, February 1, 2011
Are Realtors Needed?
This questions seems to be on many people's minds lately. The market is a difficult one for Sellers and they are pinching every penny. With all of the information available on the internet one would think a Realtor is no longer necessary. Nothing could be further from the truth and I wonder why it is this particular industry that receives this type of media coverage.
When you are ill there is a lot of information on the internet. Simply list your symptoms and your diagnosis is right in front of you. Why see a physician? When you want to file for divorce or want information on any legal issue simply add the information to the internet and everyone is there to tell you how to do it by yourself. Why hire an attorney? When you have a leak that if flooding your basement simply click on Youtube and instantly learn how to fix the problem. Why call on a plumber?
You call on a Physician, an Attorney and a Plumber because you need them. Just because the information is in black and white or in video on your computer screen doesn't mean you know all there is to know and one mistake can cost you much more than it would have if you sought professional advice to begin with.
A Realtor does much more than put a sign in the front yard and wait for the buyers to visit. And our job truly continues throughout the entire transaction. As with any other situation, one mistake can costs you as a buyer and/or seller thousands of dollars as well as much unnecessary stress and aggravation. I cannot count the number of times a seller or buyer tries to do it alone and I receive the questions on how to fix a mess.
Just as I do not want to do everyone else's job and make my headaches worse by trying to do so, many home buyers and selles feel the same. Doing it correctly the first time is better than doing it all over again at a greater cost.
When you are ill there is a lot of information on the internet. Simply list your symptoms and your diagnosis is right in front of you. Why see a physician? When you want to file for divorce or want information on any legal issue simply add the information to the internet and everyone is there to tell you how to do it by yourself. Why hire an attorney? When you have a leak that if flooding your basement simply click on Youtube and instantly learn how to fix the problem. Why call on a plumber?
You call on a Physician, an Attorney and a Plumber because you need them. Just because the information is in black and white or in video on your computer screen doesn't mean you know all there is to know and one mistake can cost you much more than it would have if you sought professional advice to begin with.
A Realtor does much more than put a sign in the front yard and wait for the buyers to visit. And our job truly continues throughout the entire transaction. As with any other situation, one mistake can costs you as a buyer and/or seller thousands of dollars as well as much unnecessary stress and aggravation. I cannot count the number of times a seller or buyer tries to do it alone and I receive the questions on how to fix a mess.
Just as I do not want to do everyone else's job and make my headaches worse by trying to do so, many home buyers and selles feel the same. Doing it correctly the first time is better than doing it all over again at a greater cost.
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