RealtorMag.com the official on line
news site of the National Association of Realtors
recently reported on the recent Federal Reserve announcement that in an effort
to re-ignite the economy they will purchase some $40 billion in mortgage backed
securities and continue to do so until the economy starts to show some real
improvement. So what does that mean to you and how does it affect your West Sacramento Short Sale
you ask?
Great question. One of the most
common questions I get is how long will it take me to be able to buy a new home
after the West Sacramento Short Sale
is completed and what do I think the market will look like.
Well, based on TODAYS lending
guidelines you can expect to wait about 2-3 years before you can buy again. Now
those guidelines may change but that’s what we have right now.
As for rates and prices, in the same
announcement the FED also stated that mortgage rates are expected to remain at,
and I quote “at exceptionally low levels until at least mid- 2015”.
Man that is GREAT news for those who
short sale today and
are ready to buy again in 2015. We truly don’t expect home prices to show crazy
appreciation before then.
So think about this. Complete your West Sacramento Short Sale
soon, sit on the sidelines and save some money; pay off debt or whatever else
makes you happy and buy right back into this market with great rates and
similar home prices.
Guys you are nuts to not consider
this option. Call me today and let’s talk about your particular situation.
Is a West Sacramento Short Sale
Right for Me?
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