Now is the Time to Buy, Sell and Refinance

It is very rare that it is a great time to buy, sell and refinance all at the same time. For the past few years it has been a great time to buy and for those rare folks with equity a great time to refinance but a pretty terrible time to sell. That has changed in the past few months and we are now entering a trifecta moment.

Let’s Refinance:

In the past month home prices have edged up while rates have lowered. This means that if before you could not refinance you may be able to now. Rates are in the mid 3’s on a 30 year fixed for conforming loans that is insanely low.

 

Now is the time to sell:

In terms of selling there is a lack of inventory which means that there are more buyers then homes for sale. From the sellers perspective that is ideal because it creates multiple offers and higher prices. There are also far less foreclosures on the market so you no longer have those comps hurting prices.

 

Last Call for buyers:

Rates at historic lows and the beginning of prices edging up now is the time to get in and buy before you miss today’s great prices. It is last call for buyers right now who want the killer deals. There are still some foreclosures ebbing through but on the whole they have slowed down dramatically and no one is quite sure what comes next. There are also aggressive loan programs like FHA that can get you into a home with a rate as low as 3.25% on a 30 year fixed with only 3.5% down or Homepath which can get you a home with 3% down and NO mortgage insurance.