Mortgage Rates for 2013


Mortgage Rates for 2013

As the real estate market continues to improve I receive many questions about what is going to happen to mortgage interest rates for 2013.

As of January 23, 2013, the mortgage interest rates for a 30 year conventional fixed rate was 3.5% with an APR of 3.62%; Both the FHA and VA loans are at 3.25% with an APR% of 3.29%.

As I look into my crystal ball – and more importantly – review data from experts, I think we can comfortably say that interest rates will remain relatively steady throughout 2013, although they are expected to rise somewhat.

To most buyers the interest rate increase will only have a marginal effect on their buying power.  What will have a dramatic effect on their buying power is the increase in home prices.  The last two homes that I have sold have been at or only slightly below the asking price.  The increase in home prices will have an effect on the buyers ability to buy the home they may want.

There are two main changes to the way mortgage companies can do business.  First of all, and long over due in my opinion, is that mortgage companies can no longer offer what was called “no doc” loans.  These were mortgages that did not require any documentation of income, expenses – anything.  Crazy!

The second major change is that mortgage companies can no longer offer teaser rates to home buyers.  Not as crazy as the no-doc loans, but again in my opinion was setting the buyers up for failure.

The good news is that buyers can still get a mortgage with as little as 3.5% down.

If you are thinking of buying or selling, talk to a REALTOR who can give you the answers you need to make an informed decision.  This clearly may be the best time to buy or sell.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 615 417-8182 or email me at RolandLow1@gmail.com.

Roland

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A Picture is Worth a Thousand Words


A Picture is Worth a Thousand Words

You have undoubtedly heard the phrase “a picture is worth a thousand words” and in real estate nothing could be closer to the truth.

I like to think of myself as somewhat tech-savvy, although more emphasis on the somewhat than the savvy part.  However, I recognize that my limitations in being tech-savvy will not limit my ability to provide my clients with the very best I can offer in presenting their property when I am their listing agent.

I am amazed at some of the pictures that I see presented on the MLS to represent the “picture perfect” home that you cannot even decipher if it is a bonus room or a closet from the picture.  Or worse yet:  The listings that agents have in the MLS with no pictures at all.  I saw one the other day that had not a single picture and had been on the market for almost two years!  Seriously!  The agent could not take their digital camera or cell phone and snap a few pictures of the property?  Sellers, my opinion is that if your agent has not put pictures in the MLS to promote the sale of your property – you need a new agent.  Now, if you, the seller, does not want pictures that is a different story, but I would highly encourage sellers to have pictures in the MLS and on flyers to promote your property.

I learned long ago that my photo taking ability is not my strongest point.  To counter that, I make it a habit to hire a professional photographer to take the pictures to place on both the MLS and in the brochures.  It is that first impression that a potential buyer will have that could induce them to look further at a property that I am trying to sell for a client.

Below is an example of a picture that I took with my “smartphone” and one that was taken by the photographer I utilized.

 

Master Bedroom

Master Bedroom Professional Photographer

As you can see, there is not comparison.  The weather was very, very cloudy on the both days; however, the professional photographer was able to adjust his exposure to provide some great looking pictures.  To me it is well worth the expense to provide my clients with this level of service.

If you are thinking of selling your home, talk to your REALTOR and discuss what pictures, if any, they will be providing.  As I said before, a picture is worth a thousand words so you want them to be as effective as they can be to promote your property.

If you are an agent in the Nashville, Tennessee or Bowling Green, Kentucky area, I will tell you that I used Bruce Davis of Davis Photography.  If you would like his contact information you can find him at http://www.davisrealestatephotography.com .  If you are listing a property give him a call and let him show you how good those pictures can make you look!

As always, if you are thinking of buying or selling, talk to a REALTOR who can give you the facts you need to make an informed decision.  If I can help you with any of your real estate needs, please feel free to text or call me at 615 417-8182 or email me at RolandLow1@gmail.com.

Roland

Ten Predictions for Real Estate in 2013


 

Ten Predictions for Real Estate in 2013

The year 2013 could be the best year in real estate in many years, but the housing recovery still remains fragile and challenges remain, according to an article published in REALTOR Magazine.

Here are ten predictions for the real estate market for 2013:

  1. More buyers and sellers will return to the housing market.
  2. Home sales increase 6-7 percent while home prices increase 3-4 percent.
  3. Inventory of for-sale homes will hit bottom.
  4. Higher-priced listings begin to sell more.
  5. The number of distressed properties continues to drop.
  6. The shadow inventory continues to fall.
  7. Short sales rise, reaching a peak.
  8. Mortgage rates rise slightly by year’s end from record lows.
  9. Lending remains constrained for home buyers.
  10. Home affordability remains at record highs.

The market has clearly made a turn-around in 2012 and 2013 looks to be even better.  It is important to remember that real estate is a very local matter.  In middle Tennessee where I live and work, we are seeing an overall increase in real estate transactions.  A home that I listed for $334,900 sold in five days!  Yet, the neighboring county is still seeing sluggish growth.

As always, if you are thinking of buying or selling real estate, talk to a REALTOR who can give you the answers you need to make an informed decision.  If I can help you with any of your real estate needs, please feel free to text or call me at 615 417-8182 or email me at RolandLow1@gmail.com.

Roland

source: REALTOR Magazine

 

Just Listed!!


 Just Listed!

This three bedroom, two full baths home in Franklin, Tennessee is in the Willowsprings Development and has walking trails, lakes and a community swimming pool.  The home is in move-in condition.  The back yard is a fenced court yard with a covered patio.

It is priced to sell.  For more information email me at RolandLow1@gmail.com or visit the home at http://www.416verandahln.coldwellbankerbarnes.com .

If you are thinking of buying or selling, give me a call.  I would be happy to help you with all your real estate needs.

Front of house angle 416 Verandah Waddy Kitchen with informal dining Master Bedroom Patio courtyard view 1