Let the rates drop! Well, they have. Mortgage interest rates are now at a TWO YEAR low! That is huge for buyers, who are ready and waiting to buy a home. In Phoenix, Arizona it is particularly good news because the inventory of homes is also on the rise.

The current rate for a 30-year fixed rate, conventional loan is at 3.82% with an APR of 3.94%, according to Freddie MAC. Some rates are as low as 3.62% for FHA loans, depending on your financial situation. The Mortgage Bankers Association expects the rate to continue on this path and we may even see another rate cut in the future.

Blah, blah, blah… What does that mean?

If you’re shopping for a home: Lock in your rate! With rates this low, you’ll want to try and lock it down. That will mean that you’re going to have to get serious and find a home you want to make an offer on. Buying a home now will mean that you get more property for your money and will pay less in interest over the life of the loan.

If you own a home: Check out your options for refinancing and see if it can save you money. The refinance process does cost money, so you’ll want to check that the savings is worth the cost.

If you’re almost ready to buy a home: Start getting your finances in order and talk to a mortgage broker. Then you will know what your rate would be and have a better idea on the cost to purchase a home. Your mortgage broker may also give you some homework to get you a better rate or loan.

So now that the rates have dropped, you may want to talk to a mortgage broker. I work with some of the best people in the industry, so give me a call! I can set up an introduction for you. Then they’ll work with you to accomplish your goals.

If one of those happens to be buying a home, let’s get house hunting! I would love to help you.

Talk to you soon,

They say things like, 'no hassle' and talk about taking the stress away when you sell a home. Real Estate Startups are popping up around town and while they may be good for some Sellers. However, here is some important information to know:

Profit Motive: these companies are backed by a lot of Venture Capital money, which means one thing: Buy Low and Sell High. The Startup may purchase your home but it will be for low market value because in order to make a profit, they have to sell your home for a higher price. That's your money being left on the table.

One Sided Representation: when it comes to them buying your home, it's you and the Startup (a corporation). No one has your back in price or fee negotiations. (There's no negotiation when it comes to fees.) When the repair requests come in, are they negotiating on your behalf or their's? When you don't have representation it can cost you not only money but more importantly, time.

Higher Fees: if you think hiring a REALTOR® is expensive, wait until you see what these Startups charge. They are anywhere from 3%-6% higher than a traditional REALTOR®. Plus, if you buy and sell with one REALTOR®, they may give you a commission discount.

These are just 3 really important reasons to consider using a REALTOR® when you sell your home. Not only that, you're helping a small business and that agent's family. You have a relationship with that real estate agent and can call them if something is wrong. Do you think that startup is going to take your call after the deal is done? Not unless you have another house to sell.

Team Clayton is committed to building relationships with our clients. So much so, that we have 5 free events every year ,that you can attend with your family. Movies, Pizza Parties, Happy Hours, and more. Once you sell with Team Clayton, you're our friend!

So, if you're thinking of selling, give me a call 623-334-5144 or email me, Kyle@TeamClayton.com

Mortgage Interest Rates Have Dropped!

What to Know About Real Estate Startups