Last week,
the average rate for a 30-year fixed mortgage rose by a full third to 4.46%.
And while the new rate still pales in comparison to historical highs set back
in the 1980’s, some experts believe this uptick along with recent comments from
the Fed Chairman that the government may scale back on stimulus measures
signify the beginning of a new upward trajectory for rates.
If you’re
considering buying or selling a home, this increase and the trend it
potentially signifies should motivate you to act sooner rather than later.
For buyers,
the increase means a higher cost of home ownership with a higher monthly
mortgage payment than if they’d bought last month.
For sellers,
the increase may affect the ultimate value they are able to realize for their
property since there may be fewer buyers willing to get into the market and commit
to a purchase.
Ready to enter the market?
Whether you
are a home buyer or seller, your local real estate agent is the first and best
expert resource for everything from neighborhoods to lenders, home staging to
escrow services.
A good agent
will help their home-buying client clarify wants vs. needs in the home finding
process; they will do the time-consuming legwork to find suitable neighborhoods
and properties to show their client; they may provide access to flexible
lending resources to assist their buyer; they will proactively serve their
client’s interests by negotiating the best offer and terms possible; and they
will coordinate all inspections and ensure the smooth processing of paperwork
from the transaction, through escrow and closing.
A good agent
will analyze the market value of their seller client’s property and help set a
realistic asking price; they will assist with home staging work to ensure the property
is presented in its best possible condition; they will market the listing
through all appropriate real estate channels to maximize exposure; they will
proactively serve their client’s interests by negotiating the best offer and
terms possible; and they will ensure any contingencies are addressed swiftly
and efficiently through the escrow and closing process.
Though I
serve all of north and south Orange County, I’m a trusted area expert for north
Orange County, especially Yorba Linda. Whatever side of the negotiating table
they’re on, I consider myself the champion for my client, using the full extent
of my years of professional experience to ensure the best possible outcome for their
real estate goals. Call me today if you’re ready to take advantage of this
dynamic real estate market!
Nanette Shapiro
(714) 924-0781
nanette.shapiro4@gmail.com
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