Real Estate News for 2017

By Joel Perez

Well, I’m sure you’ve heard that interest rates have gone up a little bit recently. If you feel like you’ve missed your opportunity to buy a home, it’s important to have some perspective as interest rates are still at historical lows. So, whether you’re applying for an FHA loan, a conventional loan or a VA loan, you can still enjoy a great value.

On the other hand, the small rise in interest rates have put some pressure on buyers to get off the fence and purchase now before rates have a chance to go up again. On the other hand, many experts believe that interest rates should either hold steady or inch up a little more.

For a number of years during and after the Great recession, lenders dramatically increased their requirements to purchase a home loan. Fortunately for people looking to purchase a home in the near future, 2017 looks bright as lenders are expected to loosen up a bit. This all means that there should be more opportunities for folks to get loans.

If you have tried to qualify for a home loan in the past few years but were rejected, don’t give up hope. Perhaps all you need to do is make a few little adjustments that would put you in a better position in the near future to qualify for a loan. I’m confident that I can help you if you’re in this situation as I do have a very competent team of lenders that can offer advice on subjects like credit repair or other challenging situations.

If you’re on the other side of the fence and planning to sell your home, I will be happy to assist beyond just marketing your home. For example, if you need some work done to improve your property, I have a strong network of professional contractors, plumbers, home inspectors and other trades-people to help you sell faster, easier and hopefully put more money in your pocket. These professionals have the highest standards of integrity and knowledge and we will be there to help you every step of the way, whether you’re buying or selling your home.

As we enter 2017, it’s important to understand that inventory levels are still very low, which means that home values are expected to continue go up some, likely in the single digits. If you’re planning to purchase a home, it’s important to work with an agent who is very familiar with the home values of the specific neighborhood you’re interested in. That should increase the likelihood that your offer is more than just competitive: it’s accepted. The same goes when you list a property because you want to be priced at a point that generates maximum interest and gives you the best value for your property.