Finding the Right Home

You’ve read and listened to countless reports by economists, investors, online and traditional media that the nation’s economy and real estate market are on the mend, usually with the caveat that both are fragile and unpredictable. This kind of news and speculation about real estate and the economy understandably have kept many buyers on the sidelines.

I completely sympathize with both prospective buyers and sellers who are fixated on Washington in political disarray and seemingly perpetual crisis management mode. CNN, CNBC, Bloomberg and other television media seem determined to keep us all climbing the proverbial wall of worry.

Mortgage interest rate trends haven’t helped to remedy anxieties. On May 1, 2013, the average 30-year fixed mortgage rate was 3.52 percent. Since then we’ve had an increase in 30-year fixed mortgage rates to 4.56 percent (jumbos slightly higher). On January 29, 2014, the Fed reduced their bond purchases. If the Fed continues to pull back their bond purchases throughout 2014, which is expected, we probably will see a steady movement toward higher mortgage rates over the next several months. And then there’s the looming Congressional fight over the debt limit.

In my experience, home buyers frequently are unsure of themselves. The high level of uncertainty and poor visibility down the road in the global and domestic economy discussed above certainly doesn’t help. My advice to buyers always is -- “take your time.” And let’s spend our time together thinking through all of the what ifs and maybes that can pop up on almost every aspect of buying a house.

Even in the best of times, buying a house can be a scary proposition. Working together, we can think through both how you want to live and where you want to live, today and in the future. I can help chose both house and neighborhood and, in the process, help you to define what is negotiable and non-negotiable.