We knew it couldn't last forever: Mortgage interest rates are rising.

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

www.homesbynanette.com

 Follow me on Facebook!