Can it be? Really?? SPRING!!!!!!

Spring is HERE!!

I may be a bit too optimistic.  Yet after three weeks of snow and cold reminiscent of my childhood in the Midwest, Hampton Roads is ready for the 50's and 60's projected for this week.

Yes, we have nothing to complain about!  Boston, you took the brunt of the abuse but weren't far ahead of the Kentucky, Michigan and host of other states with record snow falls and/or horrific traffic snarls due to the "normal" winter weather.

Rather interesting that the snow and cold that all those kids were told about by parents finally showed up!!

With the break in the weather, the already strong Spring selling season should really heat up.  Even with weather, I have had the strongest Spring in four years!!  

For the past three years, buyers and sellers stayed on the sidelines while interest rates were low and buyer demand(for sellers) was starting to show until the second half of the year.  Thus, the sales time frame was inverted:  Spring slow   Fall fast.

But with rates for the fourth year in a row around and right now below 5%(closer to 4% right now), mortgage credit availability way up and FHA lowering the MIP premiums, buyers are out in force.

Many of the buyers are sellers looking to move up or downsizing to retire.  Thus, 2015 should see exponential activity caused by the $200,000 home seller, buying the $250,000 house so that seller can purchase a $350,000 home and so forth.

The Spring season strength is also seen in new construction.  Builders again believe that their product will move.  And it is all because of what I noted above.  As the lower price homes sell, eventually a home buyer seeks to move to new construction versus resale.  

Also, home owner strickly wanting new construction provide needed inventory to buyers looking for their next house.

Once the cycle begins, it is like any natural cycle in nature: it becomes self sustaining!!   Normal factors of the market keep this self-sustaining cycle in appropriate parameters to continue for years.

Only the enzyme of "frantic" buying caused by too little inventory for too many buyers would cause the cycle to spiral out of control as relates to home prices.  

With the pent up demand caused by 5+ years of buyers "waiting for the market to improve", it is possible in the later phases of this self-sustaining cycle that prices will once again skyrocket.

Though benefiting a few sellers over a short period of time, such skyrocketing values have very negative affect upon a normally healthy real estate market.

All this said, you should know now is the time to buy.  Rates and prices will only go up as this cycle reaches maximum operating potential.  

Call me today at 757 680-6546 to make your dreams come true!

Money Magazine: Buy Now Not Later

Just another voice!!



As you know, this blog has been resplendent with notes on Buying Real Estate NOW!



Major publications have been hinting this message in the past few months but now have

caught the wave.  Now is the time to buy before interest rates and home prices rise





Money Magazine: Buy Now Not Later

Buying a Home: Should You Do it Now or Later?

To Buy or to Wait?

If there is a more important question out there in 2014 as relates to

real estate, I don't know what it is.  We know distressed properties are down, interest rates are rising and home prices are strengthening.

Yet the question that continues to rage is "Should I buy today??"

This question implies the buy or wait dilemma.  As a home owner and a Realtor, I do not see the validity of the question.  As I tell my home owners that are listing their home to move up or move down, there isn't a better time to buy or sell real estate.

Now I won't debate that that interest rates were lower as were home prices in 2011 and 2012.  But do you want to return to a market where home sellers can't sell and home buyers were afraid to buy for fear the home prices hadn't hit bottom yet.

The fear(that all important emotion) now is that home prices have peaked and will slide.   Other than the typical markets like California and Las Vegas that climb rapidly and fall big time that have risen significantly in past 24 months, most markets, including the local Hampton Roads area has had only modest growth(4-6%).   Thus, markets like Hampton Roads are expected to is approximately 4% through 2018.

Though only the very brave would try to guess where interest rates will be in 2018, it is pretty evident that we have a better chance of moving closer to the historical average 7% rates than moving toward historically low 3.5% rates. 

In summary, with home prices and interest rates both poised to move up, would it not be the smartest financial move for you to buy a new home....even if you must sell one to make it happen??? 

I sincerely believe the answer is "YES"

Have questions about your situation, call me at 757 580-6546 or email me:  bcerny@roseandwomble.com

Buying a Home: Should You Do it Now or Later?

5 Reasons to Buy A Home Now Instead of Spring

              5 Reasons to Buy A Home Now Instead of Spring


If you clicked first and asked questions later, you already know the 5 reasons to by now.

I know it is a bit counter intuitive to buy homes when everyone else is buying Christmas gifts.  But you can't differ with the value of acting right now.

Rents are rising...thus home ownership is less expensive. Home ownership helps create family wealth, low interest rates means more wealth growth possible.  

Not acting decreases family wealth and will make home ownership more expensive due to the noted shrinking(shrunk!) inventory and the pressure on prices caused by low inventory.

All very very good reasons buy now!

What will you do???