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I think it will do very little to get buyers into the market but it may very well help some buyers on the edge qualify.
White Plains, NY
Unfortunately, history shows that what motivates buyers is seeing prices increase, days on market decrease and competition increasing. When their friend, workmate, family member buys a house.
This activity, the creation of urgency, scarcity then leads them to take advantage of resources that can help them become qualified buyers.
In essence, too many buyers become more active when conditions do not favor them.
2015 promises to be a good year in real estate in my little slice of paradise in Florida. Increased sales volume will not be driven by these new programs but by the observable, predictable patterns of household mobility. (translation: improved home values has cut the anchor that kept owners stuck in place)
White Plains, NY
Hello Emmanuel , is going to help clients rations and put client that could not but back in the market to purchase, personally i think this should happen long time ago,also they should not charge mi for the life of the loan its a rip off in my eyes. thanks have a great month
My crystal ball was stolen quite some time ago, so I have no idea. I could argue this both ways. I guess we'll find out soon enough, Emmanuel.
It will help buyers who are already thinking of buying a home. Others may not even know about it.
Yes, it will help some, and might even increase the amount they qualify for.
I think it will definately help, too many first time buyers are so close on their ratios even the smallest assistance can make a big difference.
Emmanuel, I think, it should bring more into market.
reduction of MI along with conventional starting to ease into the 3% down market will definately bring more demand for mortgages and with increased demand will come ability to raise interest rates that have been historically low.
It helped a bit.
No, Those little incentives have less to do with the decisions than other factors.
This has helped a first time home buyer for sure.
Debbie R nailed this one!
I agree with the answer by Debbie Reynolds.
Agents and loan officers need to advise buyers on the financing that will best meet their needs.