Florida Licensed Buying & Selling
In the majority of the Tampa Bay area, property values have steadily increased since late 2012 and overall have continued to slowly increase. Along with higher property values, reports by Mortgage News Daily highlight that in mid 2013, average sales prices peaked at only about 13% less than the highs in 2006. However, sales price increases have generally slowed down, at least for now.
Mortgage interest rates waffled back and forth for most of 2014 with conventional rates hovering between 4.00% and 4.25% while FHA mortgage interest rates steadily hovered around 3.75%. However the last couple of months of 2014 saw conventional rates finally drop below 4.0% again with most FHA loans reaching back to lows at 3.25%!. And the conventional rates kept getting lower to almost 3.5% during January and part of February. Mortgage interest rates then turned upward again in mid-February 2015 and in the first week of March we saw a significant increase bringing Conventional mortgage interest rates to between 3.875% and 4% with FHA rates to 3.75%. After about a two week period in late April to the first week of May 2015 when they decreased again, we have seen rates shift back upward to around 4% for Conventional and 3.75% for FHA mortgages. Here is a recent summary report that includes average rates below:
Mortgage News Daily - Rate increases - 12 May 2015
Since mortgage interest rates are market-driven, volatility is still very possible as you can see based on the synopsis above. I would certainly advise to keep track of them during the window of looking to buy, putting a contract on a home and closing on the sale of the property.
If you have been waiting to put your house on the market, since sales prices generally have stabilized over the last 18 months,
it is a great time to sell.
Contact me to find out how much your home is worth TODAY!
If you have been waffling about buying your first home, upgrading or scaling back or purchasing investment property, it is
STILL A FANTASTIC TIME TO BUY!
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Whether you desire to buy or sell a luxury ocean view property, a waterfront or golf course home, or a townhouse,
I welcome the opportunity to let my
experience, reputation and integrity
Tampa Bay real estate agent
help make your goal become a reality!
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