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Archive for the ‘Foreclosure’ Category

What’s the Deal with Interest Rates?

It has been an up and down ride for the economy and the North Attleboro real estate market. You remember what it was like. There was the housing boom where home values rose and anyone could get a loan for a new home. Many experts said it would end. Many said it would end badly. Well they were right. In 2010, Americans faced the most foreclosures in history. You may have known someone or maybe it was you. With the econonmy taking a downturn, many people lost their jobs. The loss of a job affects more than just income. Loss of jobs also health care, family life, bills and mortgage. This had a negative impact on the North Attleboro market. We have seen an increase in the number of foreclosures and short sales in the Attelboros.

The current market consists of many foreclosure properties and many homes that are priced to sell. It’s a buyer’s market and interest rates remain low. It’s still a great time to buy. Lower interest rates mean you could qualify for more house than you expected to buy. It also means there are many more houses on the market to choose from. This gives you a great deal more flexibility to find the perfect house.

Take a look at this graph that indicates what the differnece in your interest rate makes on your mortgage payment:

 But this also creates opportunities for sellers. You may not get the same price for your home that you may have gotten two or three years ago, but sellers can also take advantage of the lower interest rates. Now may be the time to move up to a new home. Don’t forget that you can get more house for less money, the inventory of homes is greater and you can be more picky. Your home will sell if you price it right. Don’t go it alone. Find an expert to help you list and market your home. Price it right the first time and it will sell!

I would be happy to help you find a mortgage or with the buying and selling of your home!

Cheryl Walsh
C. Walsh Realty
Ph:  508-695-3500