Nothing captures the attention of the public AND the press more than issues affecting the housing market, probably because it “hits close to home” for all of us.  As retired bankers, we can say:

• Underwriting standards are returning to more principled guidelines, while still allowing lenders to use good judgment in individual situations.
• Interest rates remain lower than when most of us bought our current homes, but are beginning to rise.
• If you’re ready to move up, this market presents greater opportunities than we’ve seen in years.  We know – you’ve head that too many times before.  But, while you may make less on your existing home today than a year ago, you’re also more likely to be paying less now for your next home.  Follow the advice of a trusted real estate consultant or advisor about how to price your home and how to make it more saleable.
• If you’re looking for a vacation or retirement home, this is the best market we’ve seen since the late 90’s.  Prices are down substantially and inventory is up in every price range.• Even in luxury markets where prices remain fairly impervious to setbacks, sellers are ready to move on; they’ve had their home on the market for several months (or years) and are more eager to sell now to make their next financial move.
• This is a market where the prevailing theme seems to be “You never know until you try”.  There are great deals for both buyer and seller.
• The housing market, like all markets, has its ups and downs.  Yet, one of the best investments for individuals remains home ownership, with a track record virtually unmatched by any other financial asset, combined with major tax benefits.
• The experts are wrong more than they’re right!  No one ever “times the market” or “calls the bottom” every time in real estate, any more than they can in the stock market.
• Prices are VERY attractive, inventory is plentiful, and interest rates are very low.

We say “Affordability Is Not The Question – It’s The Answer!  We believe that if you’re dreaming about living well, now really IS the time to buy.

B&L