This isn't the typical Spring Market our Real Estate Industry Has Seen in the Past.
There is so much more to this Spring Market!
In addition to unseasonably warmer weather, motivated buyers, and that extra boost of cabin fever with the added Leap Year Day, this market season has been "weird" on a number of fronts, but it’s to the advantage of both buyers and sellers right now. READ ON...
According to one of our trusted financial partners, there are several factors playing into a huge swing of homeowners refinancing their existing mortgages or looking to trade in and up.
We're seeing the lowest interest rates in over a decade!
"The LOWEST point in history occurred back in 2012 when we saw rates hovering around 4%, and NOW we are seeing our clients lock in interest rates at the lowest in American history! Yes, in the upper 2’s in some scenarios!", said Senior Loan Officer, Maria Jondahl with NewAmerican Funding.
Some of this is a result of a scared marketplace because of the Corona outbreak, and some in part because it’s a presidential election year. There's no way of knowing when these rates will climb up again, but we do know these low rates, right now, are helping homeowners fix up their aging homes so they're competitive in the market. And, it's providing home buyers, whether they're first time buyers or move-up buyers, more purchasing power.
"Each file and situation are different; however, NOW is the time to review your situation!", said Matthew Burnham of NewAmerican Funding.
If you've been on the fence about making a move this year, you need to know there's no better time than the present.
With interest rates at historic low, and the limitation on some home price points, any hesitation at this time forward toward your goals of buying or selling could mean hundreds to thousands lost in purchasing power and qualifications --- and this can only hurt both buyers and sellers.
Give us a call today to discuss your personalized plan for success. We offer a free, no-pressure, Buyer or Seller consult.
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Lisa Ash,
REALTOR®, CRS, CDPE, SRES
Homes By Ash Real Estate Team
Keller Williams Realty Integrity NW
PH: 612.701.8368
EM: Lisa@HomesByAsh.com
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