Then Is Now…Part Deux
Posted by Susan "Sully" Sullivan | Visited 22 times, 1 so far today |
Do you remember one of my previous blog theories titled, “Then Is Now”, meaning, “I wish I would have bought Then”…is Now!
Here is my most recent poignant thought that I would like to share with you… If this is the worst real estate market (for sellers) in recent history, then surely it creates some of the best buying opportunities in a lifetime as well.
Real Estate is not my job…it’s my passion! I don’t just sell real estate, I feel real estate and I am going on record to declare that TODAY/NOW is the time to invest. 
Think about it…With the feds planned interest rate hike coming very soon, combined with lenders tightening the belt on regulations regarding loan requirements, each day that goes by and each incremental interest rate hike, WILL affect your buying power. What is attainable today, in my humble opinion, may very well become out of reach for you tomorrow, and anytime in the future.
Here’s a scenario that has been occurring: You’ve been approved for a home loan and you’ve been waiting for “the bottom to fall out”. On a daily basis loan programs that you may have been approved for are being eliminated, and sometimes without ANY warning. You are now no longer approved and will be unable to purchase the home you have been waiting for when it finally becomes available. NOT FUN!
It is my intention to guide you through all the processes of this confusing time - and that even means using the ‘F’ word…Foreclosures, not my favorite, since there are multiple offers and are not always the best deal when you find unexpected surprises such as tax liens, concrete in the plumbing, AS IS conditions, and expedited contingency and closing time-lines. But I will give you my expert opinions and assistance if this is where you think you want to go. I’m finding that you can have a nice, clean and relaxed transaction in the same price range that the foreclosures end up getting pushed to in the multiple offer frenzy process. Personally, I like to shop when there’s no one else in the store, but that’s just me.
Bottom line: If you are still waiting on the fence, you may miss this opportune time to own a piece of the California Coastline.
IN OTHER WORDS… 
DON’T LET THIS BE YOU!! GET UP, GET OUT THERE, AND MAKE IT HAPPEN!
I look forward to facilitating all of your real estate needs and remain and please feel free to check out my blog on my website: www.sully4realestate.com or www.realestatedeva.com to read how I really feel about things.
Popularity: 19% [?]
Great article. Many people do not realize that even a 0.5% increase in mortgage rates can dramatically affect their buying power. For example, let’s say that the maximum payment a buyer can afford is $2,400 (principal and interest). At a 6% rate, that $2,400 will allow them to borrow about $400,000. However, at 6.5%, that same $2,400 will only get them $379,700…at 7%, $2,400 will only get them $360,700…ouch.