Well the news just keeps coming about how bad everything is out there...but don't believe everything you hear.
Across the nation new mortgage applications increased for the first time in more than a month according to the Mortgage Bankers Association. This increase is most likely due to the 30-year fixed rate climbing to 6.27 and then dropping to 5.98. When buyer's saw the rates plummet, they locked in on their purchases.
Number Two: The pending home sales didn't decline last month as previous months...they just stayed flat. This is "maybe" an indication that the sales decline has or is bottoming out.
Number Three: The Federal Reserve is expected to drop the overnight rates another quarter point next week -- and maybe more in the weeks ahead.
Well this sounds good to me! If the rates stay low with the lower prices the buyer's will say..I'm ready...this is for me!
Remember...the only way to know the market has really bottomed out is when it starts to rise, and you don't want to lose that opportunity!
Psychological factors are causing some buyers to remain on the sidelines, waiting for prices to stabilize or for more favorable news about the market and the economy. Contributing to this hesitancy is a lot of negative news stories, but in the end we believe that underlying market fundamentals will prevail," When it comes to housing, consumers today lace their gloves with information -- digital and otherwise -- and then take it to the market, fighting smart.
-David Lereah, NAR Chief Economist
Homes are staying on the market longer as buyers are being extra cautious. The bidding wars are over.Buyers now have more choices and more time to make decisions. The housing market is different from the stock market. In the housing market, sellers will hold out for a while before cutting price; in the stock market, prices are lowered right away.The market is changing and notes watching.... WIth more homes coming on the market buyers will have options.Sellers are pricing their homes more competitively...real estate markets are experiencing a cool spell, where markets that were once in full favor of sellers, have now balanced out. Buyers have more room to negotiate on conditions and prices, while sellers have to be more competitive and willing to have their homes on the market for longer periods of time. Let me help you stage your home for the buyers looking now...First impressions are SO IMPORTANT and I know what buyers are looking for!
Remember to ask who's representing you in the transaction! All brokers represent sellers' unless specifically disclosed and contracted as a BUYER'S Agent. I am a certified BUYERS REPRESENTATIVE (after spending many hours in training at the Mass. Association of Realtors). Ask me how I better serve my Seller Clients and Buyer Clients with my 25+ years of experience....
For your individual market study on your home visit www.DebraCahill.com and click on Your Market Snapshot on the left side banner...
I've created this link to individualize the market for you...
ZIP Code: 02333 Location Characteristics: Location: Southeastern Massachusetts, bordered by Hanson and Halifax on the east, Bridgewater on the south, West Bridgewater on the west, Brockton on the northwest, and Whitman on the north. Reached via state route 18 from the north or south, or state route 106 from the east or west. East Bridgewater is primarily a residential community centrally located in Plymouth County 14 miles northeast of Taunton, 22 miles northwest of Plymouth, 25 miles southeast of Boston, and 207 miles from New York City.
Narrative: First settled in 1630 as an outgrowth of the Plimoth and Duxbury plantation, the Town of East Bridgewater was an early industrial inland town located on the northern portion of the Taunton River system. Its early economy was based on agriculture but the community did have both grist and sawmills, iron forges and tanneries. The late 19th and early 20th century saw residential development along the trolley lines in the community.
The Bridgewater Branch Railroad from Whitman through East Bridgewater stimulated further industrial growth, and the town was the site of the Carver Cotton Gin Manufacturing Company, foundries and forges, boot and shoe manufacturing, and textile mills. The real population expansion, however, followed the Second World War, and the town now has a heavily residential population.
For your individual market study on your home visit www.DebraCahill.com and click on Your Market Snapshot on the left side banner...
I've created this link to individualize the market for you...
About Debra J. Cahill:
Serving The Bridgewaters' and surrounding towns for over 25 years....Just starting to think about selling? Give us a call for a FREE Market Consultation on your home....We'll help you pick just the right time and STAGE your home to show off it's best features and benefits.... Call today for a NO OBLIGATION consultation with a member of the Cahill Consulting Group... 508-697-2480 X177
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
