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Vanessa Maestas

    CAR: Colorado Association of REALTORS®
    JCAR: Jefferson County Association of REALTORS®
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Archive for January 2009

Tips to Help You Lock in a Record-Low Mortgage Rate

Tuesday, January 13th, 2009

Whether you’re refinancing or purchasing, locking in a record-low interest mortgage rate can save you hundreds of dollars each month. Besides the common factors such as an excellent credit score, a low debt-to-income ratio and sufficient equity or down payment, here are some less known factors that may help you score a historically-low mortgage rate

  1. Get “real time” mortgage rate notifications-Rates recently hit record lows, but by the time it was reported in the news, those mortgage rates had increased and were no longer available. If you’d like to be notified as soon as record-low rates are published, please call or e-mail to be added to the notification list.
  2. Don’t push your luck-Pre-determine your ideal mortgage rate and lock in as soon as rates reach that mark. Holding out for further rate decreases is not recommended, because the decreases may never occur. Furthermore, you could even miss out on your ideal mortgage rate in the end.
  3. Act quickly-Rates are quite volatile and have been known to change numerous times during the day. If you hesitate, you run the risk of mortgage rates increasing from one hour to the next.

It’s a Buyers’ Real Estate Market in Littleton

Monday, January 5th, 2009

A buyers’ market should be just that- a buyers real estate market. However, todays buyers are sitting on the fence. Why? The great irony of a buyers’ real estate market in Littleton is that even though the opportunity to buy is high, buyer urgency tends to hit an all-time low. The media becomes a great pool of negative news and uninformed advice, and buyers buy it all. Actually, it feels like that’s the only thing they’re buying.

Todays buyer’s geatest fear is paying too much, which seems to stop them dead in their tracks. Their reluctance is ironic since not so long ago buyers were incredibly excited about buying in real estate market in Littleton -and it was a sellers’ market. Prices were escalating and it was perhaps one of the most difficult times to buy value and yet people were buying in real estate market in Littleton like there was no tomorrow. Buyers were afraid of losing out by not buying, even though the advantage was all to the seller, and the fear of over paying was just not there.

People who buy in a buyers’ real estate market in Littleton are the smart ones. They’re looking for a sound decision with a predictable result and, therefore, ask the question: “Has the real estate market in Littleton dropped enough now to make a sensible purchase?” More often than not, when they’re asking this question, they’re already in the safe zone and the answer is yes.
However, only buyers who are able, ready, and willing to buy a home real estate market in Littleton ever actually buys one. Able, ready, and “waiting” may or may not.

Ability always comes first and is tied to factual answers to some basic questions: Do you qualify for an appropriate loan or pay cash? Do you have money for the down payment on a home in the real estate market in Littleton and closing costs or can you get it? If you aren’t already prequalified, your first job is to find a capable loan officer. This will take some shopping around. Your Realtor is a good resource; ask them who they recommend in the real estate market in Littleton

Readiness is about buyers’ wants and needs-your personal reasons for buying a home. Readiness always underpins buyers’ motivation. In fact, it is your motivation. It is the “why” that leads you to buy a home in the housing market in Littleton

Willingness is simply about action. It’s about buyers mentally and emotionally making a choice about when you will buy a home in the real estate market in Littleton You can be able and ready, but if you’re not willing then you’re just waiting.

The time to get off the fence is now. Once the real estate market in Littleton settles or shows any sign of improvement, opportunities start slipping away. The very moment sellers no longer have to make concessions, they won’t. And, since there is almost always group think at play with all of the waiting buyers, the pent-up demand will show back up and buyers in the real estate market in Littleton may be faced with mounting competition for the best homes available.

Market Recap

  • Avg. Sales Price: $ 336,411

  • Avg. Days on Market: 115

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