Hello again Home Buyers and Sellers, as we exit August and head into September, we can all see that the inventory has become extremely low after the recent booming Real Estate Market of 2013. The 2013 market was a welcomed surprise to most, but predicted by professionals who follow the powerhouses of real estate forecasting. As projected, March through August, 2013 the market improved in the double digits in both month over month and year over year comparisons.
The second most significant issue, Mortgage Rates, has also been accurately forecasted and monitored. So what are the projections for the 30 year fixed rate mortgage in March 2014? Using the same sources that have been accurate with projections since the burst of the bubble in 2006, mortgage rates have already started to climb to 4.65% and are expected to exceed 5.0% when the sales cycle resumes in March of 2014.
It's time to take advantage of the slightly higher, yet still historically low rates that should remain in the 5% percent range through the 2014 real estate sales period; March - August. By September 2014 we’ll start nearing 6% rates.
Find out what's happening in Port Washingtonwith free, real-time updates from Patch.
The William N. Bodouva, Jr. Real Estate Corporation, Buyer Representatives, Seller Representatives and Market Forecasters since 1985. William Bodouva is the National Association of Realtors Accredited Buyer’s Representative, ABR* for the Port Washington, Sands Point, Manhasset, Great Neck and Glen Cove areas.
"As your Buyer or Seller Representative, I guarantee a more favorable purchase or sale price with more favorable terms & a smoother transaction."
Find out what's happening in Port Washingtonwith free, real-time updates from Patch.
A joint national study between the National Association of Realtors and Zillow showed that “Buyers who use ABR*s pay less for their homes than those who don’t.” For more information: www.wnbre.com
The William N. Bodouva, Jr. Real Estate Corporation. 516-815-6600 wnb@wnbre.com
