Wednesday, February 11, 2015
HOMEOWNERS'RISING EQUITY SHOULD CAUSE MARKET TO STABILIZE
Rising equity will always have a stabilizing
effect, because it allows all segments and price ranges in the market to make
independent decisions regarding their home, which ultimately cause more
interaction between price ranges and people move up or down in size and price
according to their need of growing family, empty nesters, and retirement. Equity is a very liberating quality in
homeowner economics. And although
credit standards tightened immensely after the recession, there are now
emerging more loan programs, the resurgence of some old programs and some
revamps even in government lending such as the lowering of the FHA mortgage
insurance by almost half a point.
On a median priced home, that can be over $200 a month or even
more. That increases a buyers,
"buying power", tremendously.
All who are looking to buy should speak with a lender to find out
exactly how much you qualify for...buyers may be surprised by their purchasing
powers. Sellers are also in a
great position. At last it would
seem we may be trending to a totally equitable market. It has been sometime. Surely the results will be an
encouraging factor in our economy for the year ahead.
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