House on pile of money
NAR's very own Realtors Confidence Index showed that 39% of recent buyers purchased a home with a Federal Housing Administration-insured loan. Also the number of first time homebuyers was noted in the same survey to have continued to climb to 51%.The results also indicated that distressed sales increased to 33 percent of all home sales in November. FHA financing provides affordable mortgage financing to homeowners, particularly first time homebuyers. With Condo's as we recently wrote about there will be some changes coming in the new year which could change the dynamics of condo sales financed using FHA insured loans; Read more here. FHA offers such a great opportunity for buyers by allowing only 3.5% of the purchase price as a downpayment at a time when conventional loans are around 10% or more. Things are likely to get tougher - rumours on Capitol Hill of higher downpayments for FHA and higher costs are being heard - now is the time to take advantage! With inventory shrinking and guidelines toughening the chance of getting a great home in Ann Arbor for a great price with a great low rate 30 year fixed loan is falling fast. Take advantage of the market conditions and contact us today about getting a new home in Ann Arbor for the new year! Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs. Find out what your Ann Arbor Area Home is Worth Search all listings in Michigan with pictures and tours...Free! Your Home Sold Guaranteed Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Ann Arbor Market Center Keller Williams Realty