Spring Hill Florida Mortgage Rates Might Rise A Little, But What’s It Mean?

 

 

Will Home Values Fall if Spring Hill FL Mortgage Rates Rise A Little Further?

 

 

Right now, mortgage rates in Spring Hill FL (as in the rest of the nation) are higher than they’ve been for 15 months—a trend that’s likely to continue. We have to wonder about the impact higher Spring Hill Florida mortgage rates will have on Hernando county home sales in the coming year.

 

First, some perspective. If mortgage rates do increase in 2014, it’s no ‘done deal’ that home buyers will be put off—nor that a wave of foreclosures will follow. The reason? By past standards, interest rates will still be low, even at the 5½% predicted by the N.A.R. Any hike in mortgage interest rates are coming off the historical 3.52% set in the spring of 2013. Consider: most of us were paying mortgage rates between 7 – 8% throughout the 1990’s! 5½% looks like a fire sale compared with those.

 

Factor Two: surprisingly, a projected rise in interest rates is not predicted to dampen the enthusiasm for acquiring property. The Mortgage Bankers Association predicts that home sales will increase nationally by 10% in 2014. I have no doubt that some Spring Hill first time homebuyers could be waylaid by rising interest rates—after all, a 1% increase in mortgage rates equates to approximately a 10% rise in monthly payments. But overall, buyers who can meet the current lending standards should still be able to afford to own. Given the cost of the renting alternative, they may decide they can’t afford to pass up the right house at the right price.

 

Additionally, there is a strong argument that the principal effect of rising interest rates is less likely to be on Spring Hill Florida home sales than on refis. The Mortgage Bankers Association predicts that refinancing demand will drop by half in 2014 (when you chart that kind of number, it looks like a cliff!). Many homeowners will already have locked in last year’s interest, so they certainly won’t be interested.

 

Any drying up of the refinancing business may have yet another effect. There could be a follow-on effect as lenders start loosening their lending criteria to attract new business. First time buyers that have been locked out of the market until then may (we are now two after-effects later, so this has to be a ‘may’) find themselves suddenly eligible for a home loan.

Given the healthier economy and falling unemployment, the outlook for the Spring Hill Florida housing market in 2014 has reason to look positive.

Thinking of buying a home in Hernando County and want to shop the best mortgage companies in Spring Hill FL? Now’s the time to call me to discuss timing!

 

Steve Fingerman

President

E Loans Mortgage Inc

4117 Mariner Blvd.

Spring Hill FL, 34609

NMLS# 856640

 

Office 352-688-7949

Cell 727-946-0904

 

Spring Florida Real Estate- Multiple Offers Are Back!

Beating Competitors When Multiple Offers Surface On Spring Hill FL Real Estate Listings

 

Agent Trust Part of the recovery in Spring Hill FL real estate scene is the increasing likelihood of multiple offers on a listed property. This is every seller’s dream— but if you are one of the bidders, it’s important that you don’t allow it to become your nightmare.

There is one way— the only sure way—to keep the specter of competing Spring Hill FL multiple offers from upsetting your home buying prospects. Summed up in one word, it’s “preparation.”

Preparation starts with assembling a strong financial package. If your target property attracts multiple offers, you want yours to stand out. By the time you learn that other offers are at hand, it’s probably already too late to begin putting together documents—they should be in hand before you even identify a property. Getting pre-approval for your loan, having a letter that says so, and being able to show you have funds available can be persuasive.

When it comes to making the offer itself, although including “Subject to” clauses will protect you from unforeseen problems with the property, when multiple offers are on the table, the fewer contingencies the better. Again, only preparation will make this reasonable. If you’ve had an advance home inspection, and also made sure that there aren’t any right-of-way or easement issues, your offer can be significantly more attractive.Lake In The Woods

Personal preparation can be another positive. Visiting the property on several occasions at different times of the day should give you added confidence for what the home is truly worth to you…and when the listing agent and owner can put a face to your offer, it tends to strengthen its validity.

When multiple offers on a Spring Hill FL property occur, it’s possible that someone is going to bid more than the home is really worth. If you’ve done thorough research and know precisely what its value is in today’s market, that won’t be you. Having your bottom line number unshakably in mind means that in any bidding war, you’ll be able to sweeten your offer without hesitation. You can be creative, perhaps by offering to reduce the seller’s costs by picking up escrow fees, transfer fees or title policies; perhaps by offering the seller a few additional days to move without seeking financial compensation in return; perhaps by increasing the down payment or earnest money. When you know your bottom line, the arithmetic is uncomplicated (and your less-prepared competitors are more likely to throw up their hands!)

Agent TrustAnd then…should the bidding go over what you know it’s worth, you’ll be ready to walk away. There will be other properties to bid for – and we are always here to help keep all your options open!

Smoothing the Way for Selling Your Spring Hill Florida Home

 

Smoothing the Way for Selling Your Spring Hill Florida Home

 

For SaleThe signs are positive for those who will be putting their home on the local market this winter. Demand is there, mortgage rates are still low, and across the nation, prices are pointing higher. If you will be selling a home in Spring Hill FL anytime soon, there are some extra steps you can take to strengthen your position.

Clarify Your Finances

Getting a home loan in Spring Hill FL will be the concern of the buyer, not you. She or he will have to fill out the forms, go through the credit checks, etc. More subtle is the impact your own financial picture can have on the process of selling a home in Hernando County. If you will be moving to a new home yourself, it’s a good idea to get pre-qualified by a local Spring Hill Mortgage Lender for that transaction even as you begin selling your local home. When you are secure in the knowledge that you have qualified to buy your next home before your current property is sold, it solidifies your bargaining position. If not, you need to know that so you can time your sale’s closing appropriately. Knowledge is power—clarifying your finances will make for smoother sailing.

Repair Early

Selling a home in Spring Hill FL for the best price requires presenting it in its most favorable light. Even minor fixes that are clearly trivial should be tackled before the first prospect crosses the threshold, First impressions are hard to erase, and the psychological impact of even minor problems can influence the apparent value your local property commands. Some experienced homeowners even pay for their own advance inspection before selling a home just to identify problem areas it takes an expert’s eye to uncover.

Find the Right Agent In Spring Hill FL

Your choice of Realtor® will have ongoing consequences, so taking the time and effort to find a compatible agent will be well worthwhile. Selling a home in Spring Hill FL is a many-faceted project, so find a partner you will enjoy working with— one who communicates openly and honestly about everything from today’s market profile to which area service professionals are the most dependable.

Thinking of selling a home in Spring Hill FL this winter? Call us for a complimentary consultation. We are always here to offer the best current marketing ideas!

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Agent Trust Realty

Selling A Home In Spring Hill Fl During The Fall Season Can Be A Great Idea

 

Selling A Home in Spring Hill FL Can be a Fall Success Story

Find A Listing Agent In Spring Hill FL

List Your Home For Sale In Spring Hill FL

Whenever a home lingers on the market, the likeliest two culprits are either a price that’s too high to be competitive, or a home that’s not in top showing condition. If you were unsuccessful in selling your home in Spring Hill FL this summer, it would be particularly disappointing given the strength of the selling season. The NAR reports that in July alone, sales of existing homes jumped 17.2% compared with July 2012. At the same time, some sellers reported the reappearance of multiple offers.
The good news for home owners in Spring Hill FL? Selling your home in the fall or winter is not as difficult as most people commonly assume. In fact, selling your home in Spring Hill FL during the coming months can offer certain benefits. In what many people assume is an “off season,” fewer homes are on the market — less competition. At the same time, buyers in these seasons tend to be more serious about buying, add to that the return of Snow Birds to Spring Hill and you have yourself a perfect selling opportunity.

 

Free CMA In Spring Hill FL

Thinking of Selling A Spring Hill FL Home? Find Out What It’s Worth For Free With Agent Trust Realty

Pricing is almost always the overriding issue. Home values haven’t fully recovered from the peaks registered before the residential housing crash. Nationally, median prices are on the rise…but even so, they are still well below the high water marks reached in 2006. If you bought or appraised your home in 2004 – 2006, you might have to set your asking price lower than the number you heard then. Selling your home quickly might depend on it.
Showing condition matters, too. Selling a home is different from living in it. To be competitive with the other local homes for sale, the property should be spotless for every showing. Removing excess furniture, art, and personal items such as family photos or trophies is important for creating a home that appears spacious and airy. It also lets buyers more easily imagine their own families living in your home.
Don’t let the lack of a summer sale discourage you. When you set your asking price correctly and provide an immaculate showing environment, you’ll give yourself a strong chance of selling your home in Spring Hill FL during the cooler weather months. If you would like to talk strategy, call us today for a Free in-home assessment!

Realtors In Spring Hill FL

Spring Hill Realtors

 

 

Call Tina Fingerman

727-946-2348 Cell

352-688-7022 Office