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Archive for March, 2015

Interest rates are low- super low. How low? Low enough you can pay today’s prices for a smaller payment than 2008 prices with 2008 interest rates.

Last week’s rates for a 30 fixed with 20% down and a half point was 3.625%. With good credit of course. A few weeks ago you could get a conventional mortgage for only 3.5%

But they won’t stay this low forever. As the housing market, and economy in general, improve the rates will go up. I doubt they will ever get back up to the 9+% they were when I got my license, but to put things in perspective the average rate during peak price time of 2003, 04, 05 was right around 5.8%. The National Association of Realtors (NAR) projects interest rates will get as high as 5.4% by the end of 2015.

What this means for you, the home buyer: If you can afford a $500,000 house today you will only be able to afford $405,000 at the same payment. You don’t like what you’re looking at for $150,000 today, be prepared to stay under $120,000 if NAR is right.

See the charts below for an idea of how your buying power diminishes as interest rates go up.

buyers purchasing power 300k March 2015buyers purchasing power 150k March 2015buyers purchasing power 500k March 2015Jackie@JackieHawley.com
(248)736-6407
www.Search-The-MLS.net

www.MiRelocation.com

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Clarkston MI and the surrounding areas offer a plethora of both indoor and outdoor activities- a quaint downtown shopping area, township and state parks, top of the line restaurants… and the topic of this post Pine Knob Ski and Snowboard Resort.

Pine Knob is located on the southeast corner of Clarkston and Sashabaw Roads in Independence Township. Pine Knob boasts 17 runs and 12 lifts. Other features are a 300 ft. vertical drop, six chairlifts, four tow rope and two magic carpets. Their longest run is 1620 ft. They make their own snow and have a ski and snowboarding school.

On site restaurants include Quicksilver Cafe (a cafeteria), Off the Wall Lounge and Pinery Snack Bar.

Please take a few minutes to see the video embedded below.

If you are considering a move to the North Oakland County area, you may want to check out Clarkston MI.

www.Clarkston-Homes-For-Sale.com

www.Oakland-County-Real-Estate.com

www.Search-The-MLS.net

Check out more area information at my YouTube channel at

www.JackieHawleyRealtor.com

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