Al Lansdale

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Hi guys. I haven't posted in awhile so thought I'd chime in on current market conditions. Rates are still under 5% so still "low", however they are at a recent high mark and trending upward. Regarding supply and demand, less "cheap" money in the future means less buyers that can afford to buy. It's still a strong seller market as supply of homes is limited. State government pressure is in favor of increasing building permits, however the permits are granted at the local level.... Building supplies/expense increased with a surge of recent building, which may explain some decrease of building applications in some areas. All of this can be a bit overwhelming when trying to decide how to time the market, so here's my advice... If you're thinking about selling, don't get greedy..probably best to do it sooner than later. If you're thinking of buying, run the numbers with two lenders/brokers. I always suggest that one is a credit union, since they typically are tough to beat on interest rates. The other can be a broker friend or other institution you trust. Then compare your cost for buying to your current rent or mortgage...and don't forget to figure in the tax savings. Also, give yourself an exit strategy. If you buy and need to sell sooner than expected, you will have to consider the initial purchase closing cost money, and the expense to sell (figure about 6% of selling price to be safe). If you want to talk more about this, I'm happy to discuss on the phone, via email, etc. I don't mind giving free help since I often get referrals to other people anyway. Thanks and hope I can help you avoid some stress!

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The French Banksy..pretty cool.

You think you'll save money selling yourself..but you're forgetting something crucial. There is a "perception" that buying a home from a "for-sale-by-owner" seller will save them money, just as you assume buying at a garage sale is cheaper than a store. You will end up selling your home for less, do all the work, assume all the liability, and still need to offer the commission to the buy side on MLS to get full exposure. Every FSBO seller will claim they saved thousands, but how many had an appraisal after to verify? I'm an appraiser of 12 years and an agent. Don't be careless on one of the most important decisions of your life.