Based on the current interest rates and trends you have been noticing, where do you see the market going this spring?

I think the market is going to be very strong this spring, if you look at the current interest rates for jumbo loans, that are still around that 4% and some banks even have interest rates under 4%, it makes it very attractive for home owners and home buyers to make that purchase they’ve been wanted to do.

As interest rates go up, the cost is going to be more expensive to obtain that same loan and I don’t know if you’re going to see home prices come down, therefore some buyers would be priced out of a certain price point if the didn’t potentially get in the market, not only this spring but sometime during 2016.

We are at a point where rates have no where to go but up, and quite frankly, it’s inevitable that that is whats going to happen. So you are someone who’s been on the fence about whether or not to get into the market, now would probably be the most ideal time to take advantage of how cheap money is to borrow, or course if you can qualify.

Visit www.freddiemac.com to see the most recent Economic & Housing Research, which address where they predict 30-year fixed mortgage rates will be headed.

Click Here to view and compare current mortgage rates.

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How Do I Determine a List Price and What Goes Into It?

This is a great question … it’s a little bit of a science and quite frankly it can be hard to determine prices, especially in the luxury market, because each home is different and unique, whether it be in its orientation, the view, how it lays out or the finishes. So as a professional realtor, I look at a combination of factors when determining a listing price: I look at what has sold in the area, my knowledge of that particular area, buyer demand, the finishes and overall condition of the property, the view and most importantly talking with the home owner on how aggressively we want to list the house for sale, depending on their goals. Ideally it behooves the home owner to list the home appropriately, in order to obtain the highest value possible in the shortest amount of time, which is the ultimate goal for my clients.

To sum it up, typically some of the most important factors for determining list price are: looking at the comparable sales, knowing the neighborhood and knowing the current market (i.e., buyer demand and current inventory).