4 Reasons To Buy Before Winter

 

It’s that time of year; the seasons are changing and with them bring thoughts of the upcoming holidays, family get togethers, and planning for a New Year. Those who are on the fence about whether now is the right time to buy don’t have to look much farther to find four great reasons to consider buying a home now, instead of waiting. 

Prices Will Continue to Rise 

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 11.2% (most pessimistic) and 27.8% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 

Mortgage Interest Rates Are Projected to Increase 

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 

Either Way You are Paying a Mortgage 

As a recent paper from the Joint Center for Housing Studies at Harvard University explains: 

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” 

It’s Time to Move On with Your Life 

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy. 

Bottom Line 

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. 

For professional real estate services, contact me at (214) 609-7123 or jtrump@kw.com

 

The Top Reasons Why Real Estate Agents Have A Bad Rap

“What do you mean bad reputation, my reputation is great!” Says the agents that are reading this. 

Unfortunately when you ask the general public to use one adjective to describe a real estate agent, do you really think that adjective is going to be “Awesome”, “Wonderful”, or “Trustworthy?” It does not matter whether you are in Frisco, Texas, Seattle, Washington or Miami, Florida. The majority of people have a negative connotation of real estate agents. Why? 

Three Reasons

Descriptions of Homes – You input the description of your listing as “immaculate home, move-in ready, this won’t last.” What the customer finds is an empty home that has been broom swept. Then you start seeing all the marks on the wall, the empty hole in the kitchen island where the cook-top and downdraft vent used to be, a green pool in the back and a master bedroom that you are almost afraid to walk into it is so dirty! You may be the buyer’s agent but it was the seller’s agent that OK’d the description. That reflects on all real estate agents.

Communication – Think of all the nightmares you have heard about regarding agents that don’t answer their phones; voice mail that states that they only answer during certain hours of the day, regardless of the hours a customer may keep; do not pass communications to their clients and don’t respond to text or emails. As agents we have to explain this to our customers and clients. How do you explain that without leaving a negative connotation about a colleague?

Buying a Listing – How many agents approach a listing and price it higher than they know, or should know, it will sell for in a reasonable amount of time? They set an unrealistic expectation and fail to meet that. Then they go in and convince the client that they need to lower their price for any number of reasons! At this point they may have already caused a loss in value simply because the home has been on the market and is now slightly shop worn. How does that client feel about the real estate agent now?

I know of many more but I am not here to bash agents, everyone makes the best decisions for themselves based on the situation and their resources. Perhaps it is time to get better resources? Experience can help; education can help but if you simply are going through the motions, realize that as a real estate agent, this is not about you. It is about the customer and the clients you work for, the other agents and brokers you interface with and how you represent yourself as a professional.

You Represent The Industry

Remember, agents, you do not just represent yourself, you represent every other real estate agent as well, Our industry is made up of the same old 80/20 rule that has been around for a long time. If we have 80% professional, ethical agents providing great value and 20% who don’t, the broad brushstroke that we are labeled with comes from the 20% who do no apparently have the best interests of their clients, customers and even prospects at heart. Remember, people will complain 3-4 times more than they will compliment!

As a colleague of mine stated recently, “Not a problem, I will take care of that.” Then take care of it whether it is presenting an offer, answering your phone or simply picking up the crap in the front yard! It will take all of us to minimize the damage of the general public’s view of our industry. For those people who are still leery of working with a real estate agent, give me a call and find out what my clients know – Your Success is My Focus.

 

Contact me for professional service @ (214) 609-7123 or jtrump@kw.com