West Chester & Mason Ohio Real Estate: This Month In Real Estate – October 2013

This Month In Real Estate for October 2013:  Factors that drive first time home purchases  and taking a look at the national home sale numbers.

Home sales nationally continued to improve in both unit sales numbers as well as increases in average sale price.  The national average on a 30 year fixed rate mortgage is currently at 4.50%  Get preapproved for a home loan  Locally as of this writing, a 30 year fixed rate mortgage is averaging around 4.29%

According to Keller Williams (KW) research first time home purchases are primarily drive by three factors.

1. The current real estate market – the current market in our area is very advantageous for buying a home right now.  First Time Homebuyers will find home prices are still low and represent great value.  Mortgage interest rates have now gone back down slightly after a very quick run up over the last few months

2. Financial readiness – while financial readiness is very much an individual issue, the affordability factor that today’s low rates and home prices offer can not be overlooked.

3. Location & price – location is most often identified by first time homebuyers as being either close to their workplace or close in proximity to where the currently live.

Thinking of buying a home?  Start your search on our real estate search engine: www.LOWRYTEAM.com

Thinking of selling your home in one of our areas of specialization including West Chester, Mason, Fairfield Township and Liberty Township ? Find Your Homes Value Here – Right Now

Homes with the best pricing and the best condition go first and sell quickly!  Need more information on preparing your home for sale?   

Other articles that you may find interesting:

First Time Homebuyer Series:  Can You Afford To Keep Renting?

First Time Homebuyer Series:  3 Steps To Getting Started