Hula and The Real Estate Market Today

They go hand in hand, since FHA has increased there loan limits to 729K with the same 3% down payment more and more loans will be done FHA. As long as the interest rates stay low and drop more we should see a ton of activity with refinancing of existing loans and new home loans. The qualification to be owner occupied still stands, so if your into investing you will still need to go the conventional way or cash. Investors don't have the same perks as homeowners when it comes to financing available for homes, but investors do have the ability to use there investments to continue to purchase. As everyone already knows, property still remains a sound investment and since the prices have dropped you can be sure that there are buyers shopping.

If you are wondering whether to buy or sell, take advantage of the REO's, and Short Sales and Property that is just priced right. This cyclical down won't last forever and when it begins to go up you will have wished you bought now and not then.

The last two offers for one of my buyers had been on the market 3 days with multiple offers over asking price, even though our offer was 7,000 over asking price it was too low and we were out bid. Not only was it a race to get in before offers were no longer accepted, it had been on the market for only 3 days. This is an indication of buyer movement, don't wait they are out there ready to ponce when a bargain comes up.

Start working with an agent that can keep you informed of the market fluctuations and can set up an MLS Listingbook account for you. This way you can see the changes daily yourself at home.

It is my pleasure to make sure my clients have the tools available to make this market work for them. As always, give me a call.

Dee