Posted on Saturday, December 17, 2011
According to Florida Realtor News “Dec. 16, 2011 – The average rate on the 30-year fixed mortgage has dropped to 3.94 percent, (below) the record low set in October. Low rates offer a historic opportunity for those who can afford to buy or refinance. Still, many people either can’t take advantage of the record-low rates or have already done so.”
Make sure your borrowing levels are right for you. No one wants to be house poor. However consider these rates when making your Naples real estate purchases – even if you tend to be a cash buyer – as they certainly are low relative to history.
And, as we wrote earlier in this blog, go ahead and obtain a pre-approval letter from your bank or broker so when you are out looking you know what you can afford. In our office pre-qualification reviews are very quick, sometimes thirty minutes or less and we are on our way.
Enjoy the weekend! If borrowing is part of your plan, this might be the weekend to start checking out those Naples open houses. And oh yeah, it is the middle of December and we have 70 degree temperatures AND some of my friends are doing a run-bike-one mile ocean swim today – paradise in the winter time!.
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
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