YES!!! Buyers and re-financers need to get off the chair and really move to obtaining a new interest rate. There are more “out of pocket” costs that borrower’s will be incurring after October 4. This will have a direct affect on the borrower’s monthly obligation.
Interest rates are at a all time low and there is no reason to not do it.
My clients are feeling beaten up in this market and I can’t blame them. I am feeling run down too. It’s tough out there. There are few available houses in Millbrae, Burlingame and the surrounding areas on our peninsula worth buying and those that are available are having “bid wars”. But the silver lining hopefully is that soon, hopefully, there will be more inventory. We all have to know the game and play it well. Gone are the days of underbidding. Buyers have to know that with short sales, the wait is long. With regular sales, the sale goes fast. Buyers have to know what they are up against and proceed accordingly. Get pre-approved, decide on what you want, willing to settle for and trust your agent. Be prepared to jump when the agent says “jump”. You don’t have to say “how high”. Just be ready to do what needs to be done to get the house – have your documentation ready, pre-approvals, inspectors picked out, monies lined up, etc. Mostly, hang in there and keep going forward. Don’t stop and perseverance will prevail.
In this lovely area of Millbrae, as an agent and homeowner, I dont feel that our areas have really taken that much of a hit in this down market. Most prices have been pretty stable. We will be seeing slight increases again and the appreciation in the Millbrae real estate will probably resume If you are waiting to move into Millbrae and want to enjoy the appreciation of Millbraes real estate ownership, start looking now and get moving before you become outpriced again.
If you are qualified, pre-approved for a loan, and have all “your ducks lined”up, now is still the time to buy. The interest rate is great and the homes are at an all time low. In some areas, the purchase prices are picking up and will cause you to be more frustrated. Right now, you should get out ther and look at what you want to buy and start getting on your way to owning and/or investing in real estate.
Many clients are asking me if it is a good time to buy a home/investment piece of real estate. My answer simply is…YES! Of course that’s if the client has been pre-approved and is ready financially and mentally to invest.
The market is a playground with many types of properties. there are lots of REO’s, foreclosures and short sales that can take up alot of time waiting and searching for the right house. But if your’re not on a time crunch perhaps one of these homes can be purchased at a good price.