Keller Williams Realty West Chester Archives

A Complete Guide to Buying a Home

Where Interest Rates Are Headed

What credit score is needed to buy a home?

What does it take to buy a home in today’s market?

Common Real Estate Terms You Should Know

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

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Selling A Home In The Winter

December 30, 2015 by Eric Lowry

Selling a home in the winter can be very beneficial to you as a home owner believe it or not. You may think that Spring or even Summer is the best time to put your home on the market, and that’s not quite true. There are several reasons you may want to consider selling a home in the winter.

The buyers who are out looking at homes in the winter are typically very serious buyers, and for varying reasons, have a strong motivation to buy. Braving the winter temperatures and snow is not for the faint of heart. These buyers need to find a home, and usually they need to do so quickly.

Inventory is much lower in the winter than it is in the Spring and Summer. Selling a home in the winter means less competition for you as a seller. If you wait until Spring, the home inventory shoots up. Many other sellers put their homes on the market in the Spring and Summer, and there is also an influx of available New Construction to compete with as well. If you want to sell your home for the best price possible, wouldn’t you want to go up against less competition rather than more?

The accompanying chart shows the home inventory levels for the first five months of 2015 according the National Association of Realtors. As you can see, the longer you wait the higher the level of competition you will have when putting your home on the market.

If you’ve been considering selling a home in the winter, contact us today to schedule a consultation and find out what your home is worth. Don’t forget to ask about our Home Sale Guarantee! The Lowry Team will sell your home in 88 days or less, or we’ll sell it for FREE!

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

10 Ways To Improve The Resale Value Of Your Home

Top Home Updates

Preparing Your House To Sell: Tidy That Kitchen

Tips For Selling Your House Fast

10 Tips For Staging A Home

Search the entire Cincinnati MLS for Homes For Sale

What credit score is needed to buy a home?

December 28, 2015 by Eric Lowry

Research shows that many Americans are not clear about what it really takes to qualify to buy a home in today’s market. There is a significant population not looking to purchase a home simply because they don’t believe they can qualify for a mortgage. One major misconception affecting this is regarding what credit score is needed to buy a home.

A recent Ipsos survey reported that two-thirds of respondents believe they would need a very good credit score to buy a home, with 45% thinking that a “very good” credit score is over 780. In reality, however, the actual FICO score requirement is much lower and has been dropping steadily over the last several months. The average FICO score required depends on which type of loan you get. For an FHA mortgage, the average FICO score is 687. For a Convetional mortgage, the average FICO score is 754.

Contact us today to evaluate your ability to purchase your dream home, you might be surprised at how much the requirements for a mortgage have eased.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Where Interest Rates Are Headed

A Complete Guide to Buying a Home

What does it take to buy a home in today’s market?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

Search the entire Cincinnati MLS for Homes For Sale

Where Interest Rates Are Headed

December 28, 2015 by Eric Lowry

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the interest rate, the higher the monthly payment will be. That’s why it’s important to know where interest rates are headed when deciding whether to buy a home now or wait.

According to Freddie Mac, mortgage interest rates have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for interest rates to continue to rise over the next four quarters. While rates are expected to rise, it’s still important to keep in mind that interest rates are still at historic lows.

The graph above illustrates the projections of where interest rates are headed, based on Freddie Mac’s 2015 U.S. Economic & Housing Marketing Outlook. As you can see, they are expected to increase steadily over the next 12 months.

What does this mean for you? A half percent (.5%) increase in your interest rate can significantly increase your monthly mortgage payment. Based on the projections of where interest rates are headed, the sooner you buy a home the better. Waiting could cause you to wind up paying considerably more for your next home. Contact us today to evaluate your ability to buy your dream home.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

A Complete Guide to Buying a Home

What does it take to buy a home in today’s market?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved