5 posts tagged “interest rates”

Over the last week or so I have noticed an increase in the interest rates being offfered by direct lenders as well as by mortgage brokers.

If you are getting ready to make an offer or are preparing to refinance an existing loan talk with your lender and see if you can "lock" the rate for say 30, 45 or 60 days. Sometimes this is helpful especially in a rising interest rate market.

But ask if there is a fee to do so!!

Enjoy your weekend!!

For more information go to my website: http://www.SFLuxuryProperties.com

With inventory levels low in San Francisco, this posting highlights strategies for you to "Buy Smart".

• Keep 3-5 months of living expenses liquid (easy to reach cash).
• Put at least 10% down.
• Stay in your home at least 5 years to solidify your potential appreciation.
• Use an interest only loan when you plan to stay in a property less than 3 years.
• And of course, get the lowest interest rate possible.

These are but a few simple guidelines when buying a home. If you want a deal and are timing the market then be ready to make a deal this July or August. I believe you will be surprised at the property available.

For more information: email me at kglidewell@pacunion.com

It has been a full week since the New Years celebration and I am seeing property starting to come on the market. When viewing my "New Listings" update on Friday, 1/5 there had been a little over 100 new properties added to the MLS. For the Tuesday Brokers tour we are looking at a still anemic list of approximately 21 pages of inventory.

So Ken, how does that compare with a "normal" market?? What I like to see is around the 51 page level of listings on a typical Tuesday tour sheet. That gives my buying clients some reasonable options to choose from and not be toooo crazy!!

Going forward in the 1st quarter of 2007, let's watch as inventory builds to a point where it is close to that number mentioned above. Also now is a good time to watch and evaluate the interest rate situation because if you have a 3 or 5 year adjustable it might also make sense to lock in a rate that compares with a year ago!!

Call if you have any questions and Happy new Year!!

PS- Today is my father's 70th birthday so "Happy Birthday" to him!!

I was out this past Sunday looking at property with a client and I began seeing a trend. It started out like most Sunday Open Houses but it was also a little different.

WHY??  Well this particular Sunday was right after a Thanksgiving holiday, it was raining and if you are into sports there were alot of games on tv to keep people happy. And away from the tours.

After the second property I realized they were all VERY busy with couples and agents with clients filling most of the square footage of each, that I visited.

So knowing that both resale and new home sale numbers were coming out I watched in anticipation.

Well on 11/28 the NAR ( National Association of Realtors) reported a .5% increase in resale home sales but a decrease in the median price. Adversely, new home sales numbers were down so that is telling me that we are heading into a "stabilizing market".

With interest rates at approximately 6.18% currently, money is still cheap in the big picture terms but not as cheap as the bottom of the interest rate levels.

In my opinion, a wise buyer who sees a property that meets their needs is in a good position to make a wise investment NOW!!