Timing the Market Right: Some Buyers Still Lingering
DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 03, 2013
Home prices and mortgage rates are rising, but there is still a crop of home buyers out there who are pondering whether now is the right time to buy a home or whether they should continue to wait a few more months.Have they missed the boat completely, or could waiting pay off? Mortgage rates have jumped more than half a percentage point in the last few weeks, with more jumps expected in the coming months. While rates are still low from a historical perspective, any rate increases can impact housing affordability. However, rising interest rates will likely mean the pace at which home prices are rising will slow down, according to economists. Home prices may fall slightly -- up to 1 to 3 percent -- as buyer demand dips seasonally, says Amy Crew Cutts, senior vice president and chief economist for Equifax. “But if interest rates jump another half percentage point, you may lose that price advantage to higher interest rates and monthly payments,” says Ilyce R. Glink, author of several real estate books. While existing and new home sales have risen in recent months, they remain below their pre-recession peaks, says Cutts. She says single-family housing starts are still about 60 percent below their pre-recession peak and existing-home sales are about 38 percent off their peak. “Even with large percentage gains in housing measures, all major indices of housing market vitality point to a long recovery yet to come,” she says.
About Outer Banks Real Estate Mike and Stacy Siers Howard Hanna
We could give you the scripted bio, but it is the age of Google. Believe me when I say if you are online, you can be found. I want to tell you what you may not know.
Stacy and I have been together for most of our lives. We enjoy being around each other so much we work together. I like to say she keeps me balanced. I have been fortunate to work for many people and companies throughout the Mid Atlantic region and feel that experience has helped me understand people and situations. I have been doing sales for about 20 years, construction during 10 of those years and have managed a few companies along the way. Stacy, operated a HVAC company, managed retail and restaurants. Stacy started in Real Estate in 2008, not the best time if you dare to remember the real estate crash. She motivated me to get my license in 2009 and I started in 2010. I looked at the bad real estate market as an opportunity. A time to learn the market from the bottom up. A time to learn how to sell real estate when no one could buy it. In one of my past jobs, I learned the who, what, whens and hows of sales. I could move products! When I bought my first house out of college, I learned this was one of the most important purchases I would ever make. So when we work with clients, it is about them. We want to know why you are looking, how you want to use the house or what you are selling. What memories you have made from this house. We believe real estate is about people and relationships. We are fortunate to build friendships through real estate. It usually means we go to a lot of dinners in the summer when folks are down. (I really love that part)
The wrap up, Stacy and I won't sell you a house on The Outer Banks of North Carolina. We will work with you, share our knowledge, provide facts and dig for information on every home you are interested in and hopefully grab a bite to eat and share the memories you are making!
"December 16, 2013.....
This letter is in regards to our experience with Outer Banks real-estate agent Mike Nolan. This fall we were looking to relocate from Northern Virginia into the Outer Banks area. In meeting Mike on-line we discussed some of our needs as potential full time residents and offered him a few houses we searched and wanted to see when we came down. Mike was a great agent. He was receptive to our two dogs that had to travel with us. Mike is very knowledgeable and offered us a pet friendly hotel at which to stay and a local opinion of the best places to visit during the late fall season. The house hunt was easy. It didn’t take long to find the perfect match in Nags Head. Mike was familiar with the builder and sellers agent which helped us work out a great price. While we sold our house in Northern Virginia, Mike took care of much of the inspection and contract items. It really helped having an agent we could trust. Shortly after the move we ran into Mike at a local grocery store. It was nice to know we not only met a great agent but a neighbor and a friend.
Laura and Adonis