Mortgage applications rise sparking important questions this past week 8.1% as mortgage rates fell.  We are consistently seeing rates below 4%.  Recently we had a buyer receive 3.25% on a fixed rate loan.  With rates falling, it’s sparking two important questions.

If I own a home, should I refinance?  The answer depends on two things.  What is the differential in the rate you have currently and today’s rates, and how long do you plan on staying in the home?  Does your current home meet your needs?  We are at a historic time.  This is an opportunity to lock in a low rate for your home, or an opportunity to find something better and lock that in.

You May Qualify For More Home Now

You might qualify for much more home than ever before due to these low rates.  Your dream home you thought was an impossible dream might just now be a reality.  The question is, are you content where you are, or do you aspire for something better?  Now is the time.  There is no right or wrong answer, It’s your answer.  What we can say is there is a right or wrong time, and now is the right time.

If you don’t currently own a home, now is the best time from a financial standpoint.  Only you can answer if it’s a good time job wise, relationship wise, etc.  It’s been proven that owning a home is key to accumulating long-term wealth.  Putting money in the stock market may not work out the way you want.  Income stocks and bonds, CD’s, and interest bearing accounts aren’t paying much either.  Real estate may be your best bet, and now is the time.

You may need help deciding whether to keep your existing home and fix it up or sell it and buy another.  You’d probably think a real estate agent would only want to sell you something, so no sense consulting with an agent.  A good agent will listen to what you’re trying o accomplish and make suggestions for you to consider.  This is a moment in history, and you may not get a do-over.

Real Estate Sales Versus Consultant

Good real estate agents know things the general public does not.  We can offer advice based upon your needs, even if it’s not deciding to sell.  When you receive good advice, you’re much more likely to recommend your agent to people you know.  Great agents know that if they take care of their customers, their customers will always take care of them.

We help a lot of people buy and sell property in SW Florida.  Sometimes we don’t take a listing because we can’t help the seller.  Sure, we could take a lot more listings, but in the end, if you know it’s not right you’re not helping anybody.

Most sellers don’t know for sure where they’d go if they sold.  They know their current home isn’t ideal for them anymore, but they don’t know how they’d get to another home.  It’s logistics.  This is where a great agent can help.  You must have a plan to get from point A to point B.  There are steps, and good agents have a track record of accomplishing this.  Sellers see the task as daunting, so they give up before they start.

Mortgage Applications Rise Sparking Important Questions

Sometimes homeowners look back on their life and hate how they’ve been stuck someplace that doesn’t make them happy.  We’re not saying you should sell today at all costs.  What we are saying is if you have a home that isn’t working for you anymore, there are options, and today more things are possible than they were in past.

Call Sande or Brett Ellis 239-489-4042 Ext 4 and schedule a sit-down appointment to go over your needs.  If you’re just looking for a quick, free online evaluation, we provide that service as well.  Simply go to www.SWFLhomevalues.com and it does a pretty good job of estimating your home’s value instantly.  Did we say Free?

Of course, there’s no substitute for consulting with us.  We’re here when you’re ready to talk, and we have tools for you if you’re just curious and beginning the thought process.

Good luck and Happy Home Buying/Selling!

See last week’s article “Median Time to Contract Increased 20.6% in August”

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