Taken From a Facebook Notes/Blog
drove with the top down in the cold air and blue sky,..listening to some cool Abba,...heated seats on with heater blow'n warm air on my feet,..my gosh what a good feeling,..lots of sensations! cold air on your face - a warm tushy and comfy feet,...it makes u feel so ALIVE,.. that and a few shots of espresso on an empty stomach,..lol - jazzed to go out wit some clients today to check out some Laguna Beach homes- fyi - the price drop on homes - the one u hear of so often is semi inaccurate - not so tru in beach areas ,..2nd,..the interest rates went from (in some cases ) below 4.0% to average of 5.5% - this means you lost more than 10% in purchase power and will end up paying more each month for less. PLEASE do not get into a 6% loan because you waited and waited thinking a house will drop more.
fewer properties on the market = more competition for those items,..more competition = higher prices...Listed price - if it is uber low is a fishing expedition and will get higher offers as people bid on a home.
DO not be fooled by a home with a super low price - listed as a short sale,..subject to lender approval.
Do not be fooled by an uber low price on a home to good to be true,...the adage of too good to be true,...well it is.
Here is a sample of a home that is 450,000 at a 3.75% rate = 2084 x 12 = $25,008
Same home at a 5.75& rate = 2626 x 12 = $31,512 You Just Increased your yearly expenditure by $6,504.
Or - lets say you wanted to match the $2084 a month rate at the current 5.75% you would only be able to buy a home worth around $326,250 +, - You just lost $123,750 in purchase power.
I hope this shows you that - yes a house price is important - but the rate at which you pay the loan back is just as or even more important.
In this case - you went from owning a 3 bedroom single family home to a small 2 bedroom condo or smaller type home for Southern California.
Arrgh - this makes me feel ill when people keep saying they will will drop further,...
What a loss! That loss is close to 28% of your purchase power. OUCH!
Showing posts with label February 2010. Show all posts
Showing posts with label February 2010. Show all posts
Wednesday, February 3, 2010
Tuesday, February 2, 2010
February 2010 eNewsletter - Housing Trends eNewsletter
Your February 2010 eNewsletter
From The Desk of Ken Webb
Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.
Please click on this link to view the FEBRUARY-2010 Newsletter Housing Trends eNewsletter:
http://kenwebb.housingtrendsenewsletter.com?Newsletter_ID=242&Period_ID=182
The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.
It also includes press releases with charts and videos, key market indicators and real estate sales and price statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.
If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://kenwebb.housingtrendsenewsletter.com/dispContent.cfm?loadid=2&loadtype=0
Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
Sincerely yours,
Ken Webb
First Team Real Estate & KW, Realtor
17 La Mirage Circle Aliso Viejo CA 92656
949-885-9019 | 949 243-6649
kenwebb@me.com
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