This month I will review several of the “hot topics” being discussed in our local market…
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Maximum loan value in Shasta County is $417,000.00. A person can get a conforming, conventional mortgage with a down payment of 5% or even as little as 3%. Freddie Mac’s purchases of mortgages with down payments under 10% have more than quadrupled between 2009 and 2013. More than one in five borrowers who took out conforming, conventional mortgages in 2014 put down 10% or less.
FHA mortgages maximum loan amount in Shasta County is $273,000.00
FHA borrowers can purchase a home with as little as 3.5% down.
Financing is still very accessible to most home borrowers and is the leading reason that homes are selling at a good volume.
Interest rates are still slowly trending up. Most experts predict that interest rates could be in the 5% range by the middle of next year. This means that the cost of purchasing and owning a home next year is likely to be higher.
The amount of price appreciation is decelerating. This could be interpreted by the media as bad news. In reality, if home appreciation returns to normal levels this can become a great stabilizing factor that provides a much more balanced and predictable market. When supply and demand takes over and becomes the dominating factor in the market, new construction becomes possible, more move up buyers enter the market, and potential home buyers have more options to purchase.
CHECK THE VALUE OF YOUR HOME HERE…INSTANTLY!
Foreclosures and Short Sales
At the worst point of the Great Recession, foreclosures and short sales represented more than 50% of the total sales each month. Today, foreclosures and short sales represent less than 15% of the total sales each month. Most experts agree that foreclosures will return to normal “pre-recession” levels within the next 18 months. With home owners taking over the market we can expect to see additional price stability and overall consumer confidence.
SEARCH ALL THE FORECLOSURES IN SHASTA COUNTY HERE…INSTANTLY!
Statistics prove that nearly 90% of all home buyers start their search on the internet. For this reason, photography has become one of the most important steps to ensuring that a home receives the greatest amount of showings. In addition, home buyers have become more insistent on receiving information instantly on the properties they are interested in. Response times to buyer inquiries must be handled quickly in-order to satisfy the demands of today’s buyer. Finally, with the amount of homes for sale increasing, home sellers have discovered the importance of working with a real estate agent with a robust marketing plan and a system for communicating with “potential home buyers” instantly. This has proved to be the best way to reach maximum exposure for a home.
YOU CAN VIEW OUR MARKETING PLAN HERE…INSTANTLY!
Thank you…Thank you…Thank you!
This year my team and I have been honored to work with so many of you and your great referrals. With your help, we were ranked in the “TOP 100” of all agents in the United States by the Wall Street Journal and Real Trends magazine! Check it out for yourself by clicking here!