Flagstaff is experiencing an interesting Real Estate Market this spring. Interest rates are at record low numbers, prices are very low and signs of a change are prominent. In recent months the number of buyers have increased dramatically, the inventory has plumbeted and the market is changing. With the influx of buyers and the possible potential of limited inventory prices should start to slowly climb. Supply and demand should make for an appreciating real estate market in Flagstaff fueling a much better overall real estate market. Buyers should pay close attention to these changes and take advantage of the prices that we currently have.
Inventory will likely not increase dramatically as buyers should continue to snatch up well priced listings and with the number of homeowners that have negative equity that do not currently qualify for a short sale, there just aren't as many homes that can be sold as there are buyers that would like to purchase. As a buyer this is as important of a time as ever to have an experienced and available agent on your side. Knowing about the listings as soon as they hit the market is critial to ones success. It is very common that listings are pending with 24 hours right now, and even when making an offer the potential of competing buyers is high. Call me today and I will help you take advantage of this great time to buy!
Sellers that need to sell can also take advantage of the number of buyers that are in the market. If you've been waiting for a better market this is a great time to sell!
Thank you Rebecca for pointing out that my registration Captcha system wasn't working. I am not sure how long visitors haven't been able to register but the registration page is now working and you shouldn't have any problems creating an account. I wish I didn't have to have the Captcha system enabled, but there are just way to many robots trying to register accounts on the internet.
Click Here to register so you can save your favorite listings for quick future reference and save your searches to be notified when new or modified listings match your search! By registering you are only creating an account on this site for your use. I never send out mass emails, contact you or use your information for anything! You will never be bothered due to your registration on this site!
I just revamped the search function of the site! Now you will see how many listings still match your selected parameters. This updates dynamically as you select parameters in your search. For example if you chooce Condos on a Residential Property type search, you will now be able to see how many are active, pending etc in the status field. You can narrow down your results and see how many results the search will return.
In Addition, I added many very detailed search parameters to each search type. You can really narrow down your results. This is now the most detailed Flagstaff Real Estate Search you will find!
Interest rates for 30 year fixed mortgages are at the lowest in history! Prices are low, inventory is relatively high, and interst rates are as low as ever. I don't think I could think of a better time to buy.... Call me to see if you can get qualified so we can start looking for your new home today.
Many home buyers in this market are not able to have 20% down for the downpayment on their mortgage. If this is the case you are going to be looking at a Mortgage Insurance premium added onto each monrthly payment. For example on a conventional mortgage with 3% down, mortgage amount of $200,000, a mortgage insurance percentage might be 1.55%. Your mortgage insurance montly premium will be $258.33! You will have this premium for years to come! FHA mortgage insurance is not quite as expensive but for a similar situation it will likely be around $190 per month. This is purely insurance and will never count towards your equity or loan balance.
For those buyers that can qualify, a homepath loan has NO Mortgage Insurance. Your options for selecting a property are greatly limitied although all Homepath Eligible properties are Fannie Mae Foreclosures and are typically priced very well. Homepath Loans are possible with as little as 3% down, which is even less than FHA. You will not have to pay for an appraisal and the lender will fund on the property based upon appraisals and inspections already obtained by Fannie Mae. This will make closing costs less and your payment less as well.
These loans are slightly more difficult to obtain than FHA and standard Conventional Mortgages, but if you fit their requirements this can be a great way to go!
To get started, first take a look through the Homepath Eligible Properties.
Next, you should Contact me as well as a lender. Be sure you contact someone very experienced with Homepath Loans, a novice lender will likely only lead to problems with Homepath Loans. Lenders
Not even the Founder of forsalebyowner.com was successful Selling on his own!
The founder of a popular for-sale by owner Web site used a real estate broker to help sell his 2,000-square-foot, two-bedroom New York apartment after it lingered on the market for six months. Colby Sambrotto, the founder and former chief operating officer of ForSalebyOwner.com, tried to sell the property himself by listing it online and through classified ads, but after six months of it sitting on the market, he sought the help of a real estate broker.
Broker Jesse Buckler told Sambrotto the condo was priced too low and wasn’t attracting the right buyer for the condo.
"At first he wouldn't let me increase the price," Buckler said. "I told him I know what I am doing—the market is picking up."
The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price.
Source: http://realtormag.realtor.org/daily-news/2011/08/09/forsalebyownercom-founder-uses-agent-sell-home?cid=WR08092011:26043&ed_rid=3226219
Interest rates are down quite a bit from my last post. These interest rates are great!
Rates are up again slightly. Hopefully we don't see anything substantial, rates are still great!
Another Site Improvement!
Now when you register and save a search your search results can be emailed to you when a new listing meets the saved searches parameters. I have the emails scheduled for everything 30 minutes so you can know almost immediately when a new listings hits the market that meets your parameters.
Registration is Free, Saving the Searches is free, and Viewing the results is free! The service is completely ANONYMOUS so don't worry that you will start receiving spam from me or anyone else, you information also will never be shared. Sign up or login to get started.
