EXIT Oceanside Realty Blog
It has been a sellers market for what feels like an eon and while many buyers feel discouraged, the savvy among them have gotten strategic. But, what does that even mean? The reality is that the average buyer doesn’t even know where to start when it comes to real estate strategy. Lucky for you, we at EXIT Oceanside Realty are here to help.
Strategic Step One- Get Pre-Qualified
No, getting pre-qualified does not negatively impact your credit score. No, getting pre-qualified does not commit you t...When you're buying a home, especially if you are a first-time homebuyer, the process can be overwhelming and confusing. We find that there are consistently aspects of the home buying process that buyers have questions about or don't fully understand. Our goal is to make sure that our clients are clear about all aspects of the process.
Today we answer many of your most frequently asked questions about the home buying process.
Why do I need a real estate agent?
A realtor is an industry professi...Months of steady sales reports indicate stabilization in Maine's single-family existing homes market. According to Maine Listings in a press release, realtors sold 13.31 percent more homes in February 2015 than February 2014. The median sales price increased 4.62 percent to $167,400 for that same time period.
Nationally, single family home sales rose 5.9 percent in February. Nationally, single family home sales rose 5.9 percent in February. The National Association of Realtors reported a natio...Freddie Mac and Fannie Mae will allow qualified first-time buyers to put down only 3% of the purchase price.
By Dina ElBoghdady The Washington PostWASHINGTON — Some first-time home buyers will get a break on their down payments through programs announced Monday by mortgage giants Fannie Mae and Freddie Mac as the firms try to jump-start the housing market by making it easier for more borrowers to qualify for a mortgage.
Fannie and Freddie will soon allow for mortgages with a down p...By Emily BrandonIf you don't have a traditional pension through your job and haven't been saving a significant amount in a 401(k) or individual retirement account, Social Security is likely to be your largest source of retirement income. Almost all retirees (86 percent) receive Social Security payments, and for over a third (36 percent) of retirees, Social Security accounts for 90 percent or more of their retirement income. The type of lifestyle Social Security alone will provide largely depends...
Average U.S. mortgage rates fell for the third straight week, making it more affordable to borrow to buy a home.
Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan fell to 4.12 percent from 4.19 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, also declined to 3.3 percent from 3.36 percent.
The 30-year rate is down from 4.53 percent at the start of the year.
Younger, first-time homebuyers are an increasingly rare sight in the current housing market. The homeownership rate for the 35-and-under crowd fell to a 22-year low in the second quarter, according to the Census Bureau. A bounce might loom on the horizon as lenders start to loosen credit and underwriting requirements. Even with a broad thaw, it'll still be tough for many first-time buyers to build the credit and liquidity needed to secure home financing.
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