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Historically Low Interest Rates Means Portland Real Estate is More Affordable For First Time Buyers
PORTLAND, Ore. – Continued easing from the Federal Reserve is driving historically low interest rates for Portland OR real estate buyers says local REALTOR® David Somerville. According to Somerville, the Fed’s attempts to revitalize the economy with low interest rates should be seen as a gift for anyone wanting to buy a home right now, because low interest rates significantly lower the cost and risk of buying a home. “I know from experience that some buyers won’t decide to purchase Portland real estate until interest rates start to rise again. By that time, prices are likely to have already started to rise as well.” He says that means buyers who wait too long may get neither the lowest rates nor the lowest prices. “I’ve never seen the national average for interest rates this low at only 3.85%. Someone who buys a $200,000 home can have a mortgage payment of less than $1000. You can buy a lot for $200,000!” Somerville sees more first time homebuyers and investors entering the market for Portland homes for sale as a result of lower interest rates. “This is a great time to get into a new home, in my opinion. No matter what the [...]
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Key West Real Estate Market Report Issued By Local REALTOR® Sean Farrer
KEY WEST, Fla. – Key West, Florida real estate agent Sean Farrer issued a real estate market report for the area based on recent sold statistics and trends he has observed in the market. Farrer says that sales in 2012 are already starting off well. “With our peak season already here, last month saw a total of 48 Key West real estate properties sold. Those were comprised of 25 single family homes, 22 condos, and a commercial property.” He says that contingent and pending transactions for December 2011 totaled 121 transactions, with a total of 438 active listings. “The number of listings on the market is slightly lower than it would normally be, due to a shortage of inventory in certain price levels of the Key West Real Estate market.” Farrer says that with interest rates remaining below 4% for a fixed 30 year mortgage, the Key West area is seeing more home buyers, with a lot of FHA loans since the 3.5% down makes the down payment more affordable to first time home buyers. “Many folks from out of town are very surprised at how affordable it is to live in Key West. We have a lot of snow [...]
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2012 Orlando Real Estate Market To Be Active Says Orlando Florida Real Estate Firm
Orlando, FL – While global financial markets continue to express uncertainty, one Florida real estate firm says the 2012 Orlando market is almost certain to be an active one. Jonathan de Jesus of Dominium Realty Group specializes in Orlando real estate, and says that market in the upcoming year is bound to be busy for local agents. “We are likely to see a steady flow of bank owned homes and Orlando foreclosures come on the market, and although that could continue to pressure prices for sellers, it will continue to present buying opportunities for buyers.” He says that Orlando short sales are likely to continue to be a popular way for sellers to get their home sold when they owe more than their house is worth. These will also provide good opportunities for buyers to get pre-foreclosure homes before they go offline to linger in bankers’ files for months during the foreclosure process. With new home construction likely to continue to be at a standstill, the existing Orlando area housing market is going to be the strongest real estate sales category in 2012. “The nice benefit of buying in Orlando real estate market is that Disney World will always be [...]
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Cold Winter in Northern States Yields Hot Orlando Real Estate Market Says Agent Jonathan de Jesus
ORLANDO, Fla – The Orlando home market isn’t nearly as cold as the weather up north according to Orlando real estate agent Jonathan de Jesus of Dominium Realty Group. De Jesus says that although the National Association of REALTORS® (NAR) has adjusted the home sale statistics downward for the last five years, the market is not as bad as the headlines sometimes indicate. “There are still plenty of homes being bought and sold, particularly in a market like here in Orlando where we have plenty of warm weather and international tourism to keep things interesting.” He says that part of what’s keeping the Orlando real estate market hotter than other parts of the country is simply the year-round nice weather, but he says the proximity to Disney World is a big help. “We definitely have an advantage here in Orlando, because Walt Disney World is a big attraction for tourists around the world. Many come here, fall in love with it, and immediately notice the real estate bargains available.” He says that the weak U.S. dollar in relation to the Euro helps as well, because it keeps the prices lower for international buyers. “With the current exchange rates, European buyers [...]
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Foreclosure Inventory To Bring Out Bargain Hunters Says Meridian Real Estate Agent John Espinosa
MERIDIAN, Ida. – Meridian REALTOR® John Espinosa sees foreclosure inventory of bank owned homes likely continuing to bring out bargain hunters through 2012, bringing with it exceptional prices. Depending on what economic policies the federal government adopts, Espinosa says Idaho real estate buyers will likely see continued low interest rates through this election year as an attempt by Washington policy-makers to stimulate the economy. “The combination of low rates and the steady drip of bank owned homes into the market means continued low prices for buyers who are ready to dip their feet in the market again.” He says some buyers have been gun-shy about re-entering the real estate market, whether it’s for Meridian real estate, which maintains relatively higher demand than many other Treasure Valley cities, or Eagle real estate, where expensive estates from the boom years are going for pennies on the dollar now. But he says buyers shouldn’t rely on the headlines to tell them when to buy. “Buying a home is a very personal decision, and families should base it on their own circumstances. Growing families still need to move into bigger homes. Empty nesters still want to downsize, no matter what the market looks like.” [...]
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