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First Time Buyer | Property Talk with Strong Will Real Estate Blog

Friday, March 23, 2018   /   by Cole Elwood

This is a must read if you are thinking of selling your home in the next 6 months-

There are many economic variables to consider when selling your home when interest rates are rising. If that’s the only changing economic variable, you’re generally going to see a negative impact on both home sales and home prices. This means as interest rates rise, the buyer pool for your home is going to shrink.
In 2008, the Federal Reserve set rates at 0.25 percent because of the recession and the lack of buyer confidence or demand. Since then, buyer confidence and buyer demand have risen. In December 2015, rates climbed to 0.5 percent and continued to rise to where they are today at 1.5 percent. The Fed has noted rates will rise to 2 percent in 2018 and then 3 percent by 2020.
What Happens to the Ability to Sell Your Home With These Rises in Interest Rates?If interest rates rise 1 percent and all other economic factors remain the same, purchasing power for homebuyers will decrease by just over 11 percent; therefore, every quarter-percent (0.25 percent) rise of interes ...

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  cole elwood, real estate, strong will real estate, vermont, brian armstrong, burlington, chittenden county, michelle peters, first time buyer

Thursday, October 5, 2017   /   by Cole Elwood

Tips for first time home-buyers Step 1

Buying a home is the single largest investment most people make. Add the fact that it is the first time going through the home buying process and it can become one of the most difficult decision to make and for some too overwhelming to even start. Take these 3 easy first steps and you too can be confident in starting the purchasing process.

Step 1. Talk to a lender, Get pre-approved

By far the most important step in any home purchase that is not a cash deal is talking to a lender. Getting pre approved for financing before your start looking at homes will save you time. The types of properties you look at will be determined not only by what price range you are pre approved for but also the type of financing you choose. With loans ranging from 0% down government programs to 20% conventional the properties that fit with each of these programs vary wildly. 

One lender that I have had many clients choose and be very satisfied with is Sue Ryan with Union Bank. Choosing a l ...

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  cole elwood, keller williams, real estate, strong will real estate, vermont, burlington, chittenden county, first time buyer