Buyers tip of the week!!


 

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Homeowners who endured years of declining home values will discover that the game has changed in their favor.

 

Homebuyers are losing bargaining power as the market shifts in favor of sellers. But home prices remain attractive for the most part, and low mortgage rates should stay on their side for a little longer.

 

1. Fewer options, higher prices and bidding wars

 

If you plan to buy a home this spring, expect competition.

 

Demand from homebuyers is growing faster than the supply of homes for sale, according to data from the National Association of Realtors.

 

“It’s creating a little bit of a shortage and a mismatch between supply and demand, especially with homes close into town and condos for students.

 

Buyers are encountering bidding wars in many parts of the country. Competing offers pose a challenge for first-time homebuyers.

 

As of February, there were 1.94 million homes for sale nationwide. That represented a supply of 4.7 months at that month’s sales pace. A balanced market requires about six months’ of supply.

 

During the same period last year, there was a supply of 6.4 months. Back in 2010 we had 9.4 months’ of supply.

 

Mortgage rates are expected to creep up this spring but should remain low.

 

Up just a little:  The Mortgage Bankers Association estimates the 30-year fixed rate will reach 3.9 percent by the end of the first quarter this year. That’s not as good as the super low rates that borrowers got in December 2012, when the 30-year fixed hit a record low of 3.5 percent in Bank rate‘s weekly survey. But it’s still a good deal for most buyers and refinancers, housing experts say.

 

Rates are climbing slowly, but even by the end of year, they are not going to be astronomical, they are still a bargain. All and all this means don’t wait any longer  get pro active with your real estate endeavor and buy a home!!

As  always enjoy!

Laura A Goldberg ABR,GRI,SFR,BPOR, SRES, E-pro

Classic Properties Realty

Cell/Text  352-327-2997

Fax: 866-591-3002 toll free

Email:Gainesvillerealestate@yahoo.com

Email: Gainesvillebuyerpro@gmail.com

Web/Blog http://www.lifeingainesvilleflorida.com

I am passionate about Real Estate !!                                                                   new logo!!

 

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Laura Goldberg REALTOR GRI,ABR,SFR,RSPS,SRES,

1-352-327-2997 call or text
7 days a week!!! 9-?
Email me: Gainesvillerealestate@yahoo.com

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