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March 2018

Found 4 blog entries for March 2018.

Written by Robert H. Ruth

There are 2 new realities in the Real Estate marketplace for this Spring. First, mortgage rates are going up, and it does not appear likely that this will change any time soon. Second, due to the shortage of housing inventory in the US, we are firmly in the grip of a seller’s market with prices rising at a rapid pace.

If you have been watching the news over the last few months you’ve probably noticed that mortgage interest rates have started going up. Thus far, the increase has not been dramatic: at the end of 2017 the average rate on a 30 Year Fixed Rate Mortgage was 3.875%, and today, March 21st, the beginning of Spring, the average 30 Year Fixed Rate is 4.625%. That is a rate increase or .75% in 3 months. This might

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Written by Robert H. Ruth

People attempting to buy a home are sometimes surprised by the true monthly cost of having a mortgage compared to what they are accustomed to paying each month for rent. So in an effort to help I have done the following exercise with some comparisons for you. This is intended to be a brief but informative little analysis so you can see how owning a home, and paying a mortgage, involves a little bit more than just comparing the payments.

Whenever I first sit down to discuss financing with buyers, I ask them how much their current rent is and what amount they would be comfortable paying each month on a mortgage payment. Let’s assume that a borrower is comfortable paying the same amount as they currently do for rent. I had

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Written by Robert H. Ruth

This is a question I deal with on a regular basis working with homebuyers, so I thought you might benefit from an explanation of the key difference between these 2 products. 

When I first speak with a new client who is looking to purchase a home, they frequently have been referred to me by a Realtor or a builder. The Realtor doesn’t want to spend time with people who are not able to purchase, or who do not know their price range for a purchase. So my job is to help the buyers understand the home buying process, and then determine the correct price range they should be shopping in and how much mortgage they can afford given their current income and monthly debt load. 

  • I do this by asking them careful questions that
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Written by Robert H. Ruth

If you are about to start looking for a home this Spring, you may come upon these terms. Beyond a simple definition for each of these, it is very important to know the different factors that define each, and how the different markets can impact a buyer.  This article will examine all these areas, and what may occur if we continue to see interest rates increase.

Seller’s Market Defined

A seller’s market exists when there are many more buyers seeking to purchase than there are homes available on the market. Stated differently, there are less houses available to satisfy a larger pool of buyers in the marketplace. This lack of listing inventory leads to rapid (at times excessive) price appreciation, very quick closings,

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