Rates are HOT, Home buyers have more buying power!

Every cloud has a silver lining, our cloud is the National Debt, The Stock Market and the unemployment rate, but there is a silver lining, or maybe we should say a Golden Lining! The Federal government has kept interest rates at historic lows! You can now barrow money, yes the banks have money to lend, in the 3′s and 4′s!!!! This is unbelievable – Never in our history have we seen rates this LOW…

These low rates mean that you, the home buyer have much more purchasing power. Here is how it breaks out ( just to serve as an example ):

On a $216,000 purchase at an interest rate of 4.25% on a VA or FHA mortgage your monthly payment would be approximately $1,086 per month

Should interest rates increase by:

• only 1% ( 5.25% ) you will lose Almost $24,000 in buying power, now you can only afford a $192,000 home.

• A 2% increase ( 6.25% ) you will lose almost $44,000 in buying power, now you can only afford a $172,000 home

Don’t wait until rates increase, call Sean Schroeder buyers agent with The Real Estate-XChange at 757-839-3954

Relocating to Virginia Beach – Time to act now.

With all the changes that have occurred in recent months one thing seems certain, that if you want to purchase a new home you have only a few months to take advantage of the great opportunity that is here now!

Sometime in March 2010 the Federal government will stop purchasing mortgages, this will result in an increase of the prime rate. After all, banks will not be able to purchase these notes at artificially low rates as the Government can.

The Home Buyers tax credit is set to expire in April, and the Government has already said that it will not renew it.

Currently the artificially low interest rates and the home buyers tax credit have stimulated the housing market. Together both have created downward pressures resulting higher than normal sales and lower inventory. Once both of these programs end, both inventory levels and interest rates will begin to increase.

“As the Fed begins to wind down its purchases
in the next few months, rates will become less
enticing. Analysts expect them to rise to at
least percent from the current 5 percent.”

-NY Times 10/24/09

It is likely that home prices will fall by 10% and interest rates will
begin to rise, they could reach 8% very quickly and dramatically!
As this occurs, home buyers will also begin to lose their purchasing
power.

Sean Schroeder, REALTOR
757-839-3954

1812 Kempsville Crossing Lane, Virginia Beach, VA | Powered by Postlets

1812 Kempsville Crossing Lane, Virginia Beach, VA | Powered by Postlets

Shared via AddThis

Virginia Beach Relocation Specialist

Have you just received orders to transfer to NAS Oceana, Dam Neck, NOB or any of the other bases in Virginia Beach and Norfolk. Now you need to determine your next step.

A military relocation to a new city can be very stressful, and in some cases complicate.  After all you are packing up your family, your property, and saying good-bye to friends and family, then moving it to a new home possibly across the country. This is no easy task!

My job, as your Virginia Beach military relocation specialist, is to help make the entire process as easy as possible. To work with you and your family to find that PERFECT place that you can call home.  As a professional Real Estate Agent specializing in military relocation to Virginia Beach, it is my priority to provide you with the top notch service that you deserve.

I can provide you with great tools, at no cost to you. These tools can help you search and categorize all of the available homes that meet your specifications.

Whether you need to purchase or sell a condo, townhouse, single family detached in Norfolk, Virginia Beach, Chesapeake I am here to help you with all of your real estate needs.

View homes for sale in Virginia Beach and the Hampton Roads area at Hampton roads home listings

Feel free to call me at 757-839-3954 or email me

Sean Schroeder, REALTOR
Your Virginia Beach Relocation Specialist
seanschroeder@757realproperty.com
757-839-3954

Norfolk

Moving to Norfolk

Chesapeake

Moving to Chesapeake

Virginia Beach

Moving to Virginia Beach…

Moving to Virginia?

Are you moving to Virginia due to a military transfer, job relocation or other reason?  Regardless of your reason, you need a real estate professional who is familiar with the area, a Virginia Beach Military Relocation Specialist.

I have been a resident of Hampton roads Virginia since 1972,  and I am very familiar with Virginia Beach, Chesapeake, Norfolk and the rest of Hampton roads.  I understand the stress that moving to a new city can bring.  My goal is to help eleviate the stress, help you find your new perfect home.

Call me today for you no obligation Military Relocation consultation.

Sean Schroeder, REALTOR
Military Relocation Specialist serving Virginia Beach
757-839-3954