September 3rd, 2013 4:27 PM by Amy Schiller-Goldstein
I haven’t blogged in a while; I have been in new home moving mode!!!! Now that my 3 year old is back in school and we are settled in I am back at it! So what’s new in the mortgage bizzzz…. My answer, everything and nothing!!! Here’s what’s new, rates have gone up and have been fluctuating between 4.375-4.625% on conforming loans (30 year fixed below $417,000). Here’s what the same is; rates are moving. Mortgage rates move daily, they can go up or down as quick as a blink of an eye, so my suggestion to anyone and everyone, if you’re looking to do something like buy a new home or refinance, do it now! I certainly cannot predict the future, but we all know rates cannot stay this low.
One of our blog followers asked how things were post-closing on our new home and how the transaction felt to the parties involved looking back on it. I will say writing that big check, no matter how prepared you are to write, it a tough pill to swallow.. Moving is stressful, unpacking may possibly take a life time, but all in all I feel relieved. I knew the decision to buy this home was the right one, though the process can be terrifying and stressful, I believe the outcome is more than worth it. As far as the closing goes, I fortunately go through HUD-1’s daily and I am well versed in closing documentation; so taking that factor out of the equation I was able to witness the emotional side of watching the seller hand over her keys. I always have been and still to this day believe as a buyer, there is no need to meet the seller, due to the emotional attachment both parties have vested in the same property. In my particular situation, our seller was wonderful to us, and meeting her was more than a pleasure, but watching her sign the legal documents deeding us the home was saddening. After settlement, she talked of her own family, and their experiences in the home, and though I knew it was her choice to sell the home, I felt she will always feel a connection to the house. To me, a house isn’t just a structure with walls and a roof, it is a place where people become a family, a place people go for solace, peace and comfort; it’s a home. Soooo, yes it was emotional, but now that my family has moved into our new house and the walls are filled with our art work and we being to make memories of our own, this house is becoming our home.
Real estate isn’t just about money and location, it is an emotional decision. Please keep that in mind as you care for your home and as you look to buy and refinance.
Thanks so much for reading,