BUY NOW OR PAY MORE LATER

BUY NOW OR PAY MORE LATER Here is how the recent changes in mortgage interest rates would have affected the principal and interest payment for a typical starter home of $350,000.   October, 2016, Interest Rate of 3.6%, Monthly P & I Payment = $1,432 December 2016, Actual Interest Rate Read More

REAL ESTATE MARKET IS BACK AND HEALTHY

REAL ESTATE MARKET IS BACK These data are an excellent portrayal of the national picture in real estate. Most also apply to our situation in Delaware, Chester and Montgomery counties. Specifically, sales are up, credit is readily available, distressed property sales are way down and, biggest of all, interest rates Read More

GET THE BEST PRICE FOR YOUR HOUSE

As stated below, it is critically important to use a Realtor when you are selling your home, if you want the best price and a quick sale. However, realtors are very different in their capabilities and processes, both of which impact on the service they provide. Before you select your Read More

SUPPLY AND DEMAND IN HOUSING

Some Highlights: The concept of Supply & Demand is a simple one. The best time to sell something is when supply of that item is low & demand for that item is high! Anything under a 6-month supply is a Seller’s Market! There has not been a 6-months inventory supply Read More

HOUSE PRICE BUBBLE ?????

House Price Bubble, Not Right Now These data are more compelling data points that home prices are not getting us back into bubble range. I agree with the argument FOR THE TIME BEING!!!!. What I mean by that is this. Essentially, home mortgage lending is a federal government monopoly. Almost Read More

MORTGAGE MYTHS

For the good and bad of it (and there is both a bad and good side to this), home mortgages require only 3% down and as low as a 580 FICO score to qualify. Great news for credit worthy but cash starved buyers; maybe bad news for the health of Read More

REAL ESTATE VALUES TODAY

Interesting and timely topic as people balance the risk of buying a house against the risk of another “BUBBLE COLLAPSE”, like we hit after 2007. Looking at the actual statistics gives a more calming picture. For example, in Delaware County, prices of single family houses peaked at an average price Read More