I keep hearing it is a great time to buy, what does this mean?

With the turn of the new year we have seen a very unique market in local counties. Economsits, real estate professionals and lenders have shared continuously that it is a GREAT time to buy. In fact, just a few weeks ago Warren Buffet stated in an interview in the San Jose Mercury News that anyone who has money invested anywhere (stocks, bonds, etc) should pull all of their money and RUN, not walk, to a real estate professional and buy a home. Well, this says it all.

But what does it mean when people say "it is a great time to buy". For one, interest rates are historically low. This means not only are you building more equity over the term of your loan (more of your payment is going to principal), but you are also getting a better value when you purchase. Secondly, we have officially hit our low. Home prices have consistently stayed at all time lows for the past 9 weeks, and in fact have dropped lower than our historical drop in February 2009.

This is a prime time to buy, and qualifying is much easier than you may think.

Feel free to contact me with any questions or to discuss your possibilities to buy.

Have you accpeted a friend request today?? The world of social networking

The average Facebook member has 130 friends and is connected to 80 community pages, groups or events. The growing popularity of social media is a global trend that is difficult to ignore. Teens and young adults were the first to spend time socializing online, but their elders have recently discovered the benefits. Statistics show that adults over age 50 are the fastest growing category of social networkers.

Social media has quickly become an active part of our everyday lives. Most of us participate in social networking to socialize with friends and family, promote our businesses and interests, support local businesses, and share details of events and promotions. As the trend of social networking grows, it is important we realize not only all of its benefits but also how to be cautious users. As parents, we should be aware of the social networking our teens are participating in and educate them on how to safely network.

For each of you entrepreneurs, social networking should be at the core of growing your business. You can use Facebook, Twitter, Blogs, and YouTube to promote your business and ignite the "word of mouth" effect amongst your natural network.


Get connected!



Want to connect with The Rabello Group?

The Rabello Group
408.859.5479
ashley@therabellogroup.com
www.therabellogroup.com

Follow our blog!
http://therabellogroup.blogspot.com/

Add us on Facebook!
http://www.facebook.com/TheRabelloGroup

Follow us on Twitter!
TheRabelloGroup

HomePath

There have been so many home buyers looking to buy a new home with an FHA loan that have become discouraged by multiple offers and competition with all cash investors, or the recent increase in fees with an FHA loan. The homepath loan through Fannie Mae is the resolution. Here are just a few bullet points about the program, complements of my preferred lender Audrey Hutton of Prospect Mortgage:

Here are the key benefits of a HomePath Mortgage Loan:

• Only 3% down required on a primary residence property
• No mortgage insurance required
• No property appraisal required
• On Condos, no condo cert required, so if there is litigation or issues with the HOA, no worries!
• Only 10% down on 1-2 unit investment properties
• Get up to 6% in seller concessions on primary residence properties
• Allows investors to finance up to ten properties
• Funded by June 30th, 3.5% closing cost credit to the buyers

This program is not just a great resource for owner occupied purchases but also for investor purchases. With low interest rates and prime home prices, now is a great time to purchase an investment property. HomePath offers an investor loan with only 10% down.

As always, I hope to remain your trusted real estate resource. Please feel free to contact me for additional information on this program. If you are thinking of buying or selling, let's set-up a time to get together and discuss your options.

First-Time Homebuyer Facts

First-time homebuyers in the market jumped nearly 10% from 2008 to 2010, and that increase is expected to continue through the next few years. According to Brian Buffini's Real Estate Report the average household income for a first-time homebuyer was $59,900. With several well structured loans, assistance programs and owner occupied purchaser incentives this remains a prime market for first time homebuyers. Although we are still patiently awaiting our slow recovery in the economy, prices have been assumed to have hit their low and a steady increase is near. The city of San Jose in particular, and its immediate surrounding areas, is the #1 city projected to have the quickest and most fluent recovery from 2011-2014.

There are numerous benefits to owning a home versus renting. If you have even thought of purchasing a home this year, now is the time to reach out for insight and to do your research.

Please feel free to always contact me with any questions.

2011 Opporunity Knocks!

Historically low interest rates and bargain prices have made homeownership the most affordable it has been at any time during the past 40 years. And while the market won’t shift overnight, dramatic decreases in new home production and household formation suggest that as demand for homes returns over the next couple of years it could outpace supply in some places.

This month I have sent an interesting piece about the current state of the national housing market and the opportunity it presents for those who are ready to take advantage of it. Nobody knows exactly how the recovery will unfold, but over the long run, owning property in America has always been a solid investment.

Keep in mind that all real estate is fundamentally local. If you’re interested, I’d be happy to tell you more about the housing situation in our area. Please don’t hesitate to call and ask!

Intero Insider: Housing Issues to Watch in 2011

Intero Insider: Housing Issues to Watch in 2011

2011 Market Forecast!

2010 became the year of “less is more”. Consumers have focused on downsizing and minimizing their spending. While many economists are confident the worst is over, we must be prepared for a slow recovery. The turnaround in the economy will not depend on the changing trends of the consumer, but instead in the decisions made by our leaders. While the market had a snapshot recovery the middle of this year with increased sales prices, lower days on market, and high demand; the fourth quarter had a plummet in sales prices.

2011 will start with limited inventory of good distressed properties. Short sales continue to flood the market, though many banks have announced on several occasions that the first and second quarter of 2011 will bring an abundance of new foreclosure inventory. Still the high end market is at a stand still.

  Most people ask if now is the BEST time to buy or sell your home. Timing is different for everyone. If you are thinking of buying a home, or even downsizing, this year provides ample opportunity for you. The beginning of the first quarter will show slow recovering low price points, good interest rates, and eventually extensive inventory.