Friday, February 20, 2015

The Real Estate Market Gearing Up For Spring Season

According to Shannon Christenot, my go-to mortgage broker with JMJ Financial:

"Consumers are getting excited about prime home shopping time getting ready to heat up. In fact, 67% of respondents to Fannie Mae’s National Housing Survey in January said they feel that now is a good time to buy a house."

She should know. Shannon is on the front lines of the home-buying process. It doesn't get any more real than a buyer applying for a loan after an accepted offer.

Shannon also noted:

44% said now is a good time to sell—an all-time survey high! So aside from consumer sentiment, here are a few things that could help spring buying season take off like a rocket:

New home purchase jumped 29% in January —meaning that housing is starting into its busy season on the right foot

Interest rates still relatively low —averaging 3.76% for a 30-year fixed

Inventory of existing homes is up 5% compared to a year ago

New housing inventory is up over 90% in one year—with 793 new homes constructed, but not yet sold just in Orange County.

All I can say is WOW! And on my end, I'm getting a lot of calls and emails from both buyers and sellers, who appear WAY more motivated to make a move now than they did just a few months ago.

So if you're looking to buy a home, it's time to get prepared. The very first thing you will want to do is get pre-approved for a mortgage loan. This will definitively let you and me know your maximum purchase price, which saves us all a lot of time and heartache. The good news is that this costs you NOTHING but is invaluable.

Call, text or email me and we can get started right away. 323-528-9989

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