ATTENTION GEN X & Y ~ WAITING TO BUY YOUR FIRST HOME COULD COST YOU BIG $$$

~ GEN X ~ GEN Y ~ THIS IS FOR YOU ~ GEN X ~ GEN Y ~ 

Call Nichole R. Willey at 508.737.3567 with questions or to schedule a private appointment. www.aboutcapecodma.com is your real estate resource for finding the perfect home!

Dare to Dream ~ Make it a Reality

Are you a Gen X or Gen Y-er?

Are you between the ages of 19 and 35?? Are you waiting to purchase your first home until the "market improves" or the "job outlook improves?" Well, guess what...if you wait any longer, you will miss the opportunity to maximize your investment...the market hit bottom in May 2012! So you missed that boat, people! Home prices rose, year-over-year, for the first time in June of 2012. That was almost half a year ago! And guess what, they have continued to rise. So what does that mean for you? Well, houses are no longer at rock bottom prices. The bubble that burst is starting to come back together...and the appreciation is expected to last. Home values increase, on average, 4% a year. Sooo,  the house you want to buy today for $250,000 will cost you $260,000 next year...plus interest. And there's more.

A Shifting Market

There is a shift in the market taking place as we speak in certain price brackets. Inventory is minimal, even non-existent in some areas. There are more buyers in the market now than in the previous 3 years due to low interest rates and the ability for people to obtain financing. So with more buyers looking to buy and less inventory, the laws of supply and demand predict that the competition will drive prices up. Still not convinced that now is your time to buy?? Read on...

Changes in Mortgage Legislation

Have you heard of the QRM Ruling, or the Qualified Residential Mortgage Rule? It is part of the Dodd-Frank legislation. Look it up. What does it mean for you? Basically, the cost of getting a mortgage is going to be much higher...Right now, there are programs available with 0% down, or as little as 3% for other programs. With the changes taking place in the near future (like January 2013!) buyers will be required to put 20% down on a federally backed mortgage (FYI, that is between 85 and 95% of the loans written today!!)

Changes in Interest Rates

Wait! There's more!! Interest rates are going to change too! They are expected to rise at least one full point by the end of 2013! According to MarketWatch on 10/24/12, by the end of the first quarter of 2013, interest rates for a 30-year fixed mortgage will be approximately 3.9%, and 4.4% by the end of the 4th quarter. Get on the ball and speak to a mortgage expert today to find out what your options are and when the best time for you to purchase will be. Call me to get the search process started...Nichole R. Willey ~ 508.737.3567.

The Home Buying Process ~ 

For a great run-down on the home buying process check out this blog entry on About.com...Home Buying Path A to Z The Complete Home Buying Process

Whether it is to buy a dream home on Cape Cod, invest in Cape Cod Real Estate, or sell your property on the Cape, Nichole R. Willey is a specialist that will help you get to the closing table.

I am committed to delivering courteous, professional and timely service that will assist you in better understanding the home sale process. I am a trained, certified real estate agent specializing in the Cape Cod market and am prepared to help you find the right home for the best price. Call me now for your confidential  no obligation appointment and see for yourself how I go above and beyond your expectations to get the job done and done well.

		Nichole R. Willey Agent/ Partner Keller Williams Cape Cod	P: 508.737.3567 F: 508.771.8188	1600 Falmouth Road, Suite 2 Centerville, MA 02632