{"id":4824,"date":"2010-05-05T15:16:21","date_gmt":"2010-05-05T20:16:21","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=4824"},"modified":"2024-12-30T14:34:50","modified_gmt":"2024-12-30T19:34:50","slug":"next-step","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/next-step\/","title":{"rendered":"Next Step!"},"content":{"rendered":"

Last week, the tax credit expired.\u00a0 Is that good or is that bad?\u00a0 California has made their decision to state-fund their version of a tax credit in an attempt to continue to drive their housing market \u2013 but what about everyone else?<\/p>\n

To me, it just doesn\u2019t matter.\u00a0 Having seen and lived through various markets (in various industries,) I have always found that there are those sales professionals who do well and those who do not.\u00a0 Those who do well are always focused on what they have at their disposal to provide value to their current or potential clients.\u00a0 Those sales associates who don\u2019t do as well, are always focused on what used<\/em> to be or what others have, that they do not.<\/p>\n

So to help jump start some \u2018value\u2019 thinking, I have listed a few items that we currently have at our disposal, to benefit our customers today:<\/p>\n

1) <\/strong>Mortgage rates are fantastic!\u00a0 Mortgage rates continue to remain very low, and while there is always talk of volatility in the mortgage backed securities market and the impact that volatility will have on consumer rates, even 5.5% or the dreaded 6% rate threshold for a 30 year fixed is a really good rate.<\/p>\n

2) <\/strong>Declining prices are an exciting opportunity for first time and move-up buyers.\u00a0 Take for example, a family who lives in a market where prices have dropped 15% or more over the past year or two.\u00a0 While their $285,000 home may now be worth $242,250, the home that was $400,000 is now down to $340,000 \u2013 or about a $17,000 savings above their perceived \u2018lost equity\u2019 (you can do your own math for your area.)<\/p>\n

3) <\/strong>FHA Mortgages remain a very large portion of our entire lending landscape.\u00a0 While the House Financial Services Committee defeated a proposal to increase the minimum down payment requirements (it\u2019s remaining at 3.5%), the committee did<\/em> agree to raise the FHA mortgage insurance premiums from its current level of 0.55 percent gradually to an annual premium of 1.5%.\u00a0 Speak with your local preferred lender and have she or he notify you to find out when this will happen \u2013 but the cost will rise\u2026.soon.<\/p>\n

4) <\/strong>Home prices in many markets are beginning to stabilize and, in fact, there are a few markets where home prices are beginning to increase from their lows (S&P\/Case Shiller Home Price Indices www.homeprice.standardandpoors.com<\/a>).\u00a0 So, even with all the talk of \u2018shadow inventory\u2019 from forthcoming foreclosures (which I believe to be true), we may look back and see it as a time when inflation\/price increases began to show again.\u00a0 So, now is the time for a great deal!<\/p>\n

When you combine these macro-level economics with the very real value that each and every one of our sales associates has at their disposal using our Better Homes & Gardens Real Estate tools in the Better Homes & Gardens Real Estate Greenhouse (www.mybhggreenhouse.com<\/a>), we have more to offer today than ever before.<\/p>\n

So, if you or one of your fellow sales associates is ever thinking about something you don\u2019t have, read our blogs and re-review our web site \u2013 we are constantly adding and working hard to help you grow and have what others do not.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, the tax credit expired. Is that good or is that bad? California has made their decision to state-fund their version of a tax credit in an attempt to continue to drive their housing market \u2013 but what about everyone else?<\/p>\n","protected":false},"author":141,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[1351,3261,3961,4451,4831,5761,6511,6681,7161,8181,9441,12621,13451,14571,14581,15371,17241,17441,19731,19951,20891,21351,23821,25971,27631,27761,32501,33041,33981,37551,37611,38661,39051,42281,42301,45021],"class_list":["post-4824","post","type-post","status-publish","format-standard","hentry","category-brokerage-operations","tag-agents","tag-banks","tag-better-homes-and-gardens-real-estate","tag-bhgrealestate-com","tag-blogs","tag-brokers","tag-buyers","tag-california","tag-case-schiller","tag-clients","tag-consumers","tag-economics","tag-equity","tag-fha","tag-fha-mortgages","tag-foreclosures","tag-government","tag-greenhouse","tag-house-financial-services-committee","tag-housing-market","tag-industry","tag-insurance","tag-lender","tag-markets","tag-mortgage","tag-mortgage-rates","tag-premiums","tag-professionals","tag-real-estate","tag-sp","tag-sales-associates","tag-sellers","tag-shadow-inventory","tag-tax","tag-tax-credit","tag-value"],"yoast_head":"\nNext Step! - Better Homes and Gardens Real Estate Be Better Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhgrecareer.com\/bebetterblog\/next-step\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Next Step! - Better Homes and Gardens Real Estate Be Better Blog\" \/>\n<meta property=\"og:description\" content=\"Last week, the tax credit expired. 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