While the past few months have been filled with incredible real estate deals, historically low interest rates, and a wide variety of housing inventory to meet virtually every need, the summer months are the optimum time to buy a home. Right now while many people are enjoying vacation and other summer activities, the motivated buyer can get out there and definitely snag a really great deal. Motivated sellers are out there waiting for that motivated buyer, so don't miss your chance! Additionally, the summer months provide longer hours of daylight for more opportunity to see the exterior of the home and to get the feel of the "life" of the neighborhood in the summer months. So before the hustle and bustle of a new school year begins again, take advantage of Summer and contact the real estate professionals at Century 21 - Mainstream.

Since mortgage rates are at the lowest they have been in years, it makes sense for potential buyers to look at homes that are at the highest mortgage amount they are pre-approved for.  With the low rates, a buyer or buyers can broaden their home search to newer homes or ones that have been recently remodeled.  For example, if a buyer is approved for a $300,000 mortgage, but decides to look in a lower price range, they are potentially going to be viewing properties that are in need of costly repairs.  It makes sense long-term to put your money into paying a low-interest mortgage vs. paying for costly repairs down the road.

Still have questions about the home buying process?  Are you looking to find a realtor who will work to find what’s right for you and your personal financial situation?  Contact the real estate professionals at Century 21 Mainstream today!

3.67% - A Record Low for Mortgage Rates - Now is the Time to Buy!

Freddie Mac reported this week that mortgage rates have hit another low.  Currently, the mortgage rate for a 30-year fixed loan is 3.67% and the average 15-year rate also hit a low of 2.94%.  For example, if you have a 30-year, $300,000 mortgage, at today’s rates your monthly mortgage payments would be $1,376.  When the housing market peaked in 2006, mortgage rates averaged around 6.4%.  The monthly payments on the same $300,000 mortgage would have been $1,878 – that’s $500 more!  NOW is the time to buy a home and take advantage of the super-low interest rates. 

For more information on mortgage rates and the home buying process, please join Cathy Denis at the Garden Cafe, 160 Henley Avenue, New Milford, NJ every Tuesday evening from 6-7PM starting on July 10th!  Cathy will be available to answer all of your real estate questions from first-time home buying to estate planning. 

As a first-time buyer, it's important to have the right relationship with your realtor.  We at Century 21 Mainstream get to know you, your family, and your hopes for the future in order for you to find the right home.  We start by asking where you are now and where you see yourself in the future.  By getting to know your plans and hopes for the future, we get an idea of what you and your family will need grow into.  As we all know, life is always changing.  The realtors at Century 21 Mainstream know that everyone has different needs, different dreams.  We are not a cookie-cutter business, we get to know you and we tailor the home-buying process to fit your needs.  Whether you are new to the world of home buying or you have been a home-owner in the past, our realtors will help you find the home of your future!