Mike Bowler blog

Interest Rates Hit New 12 Month Low!

Great time to buy or sell a home in Greater Lansing, Michigan
Posted by Mike Bowler on February 27, 2019 in No Category
According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018! Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below. Freddie Mac’s Chief E... read more
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What are the Benefits of Becoming a Homeowner in Greater Lansing, Michigan?

Great time to buy or sell a home in Greater Lansing, Michigan
Posted by Mike Bowler on February 26, 2019 in  Buying a Home  Real Estate Update
Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time! Why is this date important? Homeownership is not just a roof over your head! It represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream! However, many question if the next generations see... read more
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3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC]

Great time to buy or sell a home in Greater Lansing, Michigan
Posted by Mike Bowler on February 22, 2019 in   Michigan  Buying a Home  Greater Lansing
3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC] Some Highlights: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking too much about it. Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. What are you willing to cut back on to make your dreams of homeownership a reality? ... read more
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3 Reasons Why We Are Not Heading Toward Another Housing Crash

Great time to buy or sell a home in Greater Lansing, Michigan
Posted by Mike Bowler on February 21, 2019 in   Michigan  Greater Lansing  Real Estate Update
With home prices softening, some are concerned that we may be headed toward the next housing crash. However, it is important to remember that today’s market is quite different than the bubble market of twelve years ago. Here are three key metrics that will explain why: Home Prices Mortgage Standards Foreclosure Rates HOME PRICES A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2011). Today, prices are not depreciating. The level of apprecia... read more
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Why A Normal Market is Just What We Need in Greater Lansing, Michigan Area

The real elephant in the room here is housing supply.
Posted by Mike Bowler on February 20, 2019 in  Buying a Home  Real Estate Update  Selling a Home
The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home. This ‘seller’s market’ has driven home prices to new heights. Home price appreciation averaged over 6% across the country. However, home price growth has recently started to cool down. The latest report from CoreLogic shows that home prices ha... read more
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