How Housing Markets are Like the Olympics
Housing markets can be viewed as platforms through which buyers and sellers trade houses either directly through the owners or indirectly through legal brokers. The trading terms are mostly pegged on the performance of the housing market index and not the housing market itself. Just like the Olympic Games with its wide variety of sports, the housing industry has numerous participants who include: the investors who may be domestic or foreign, real estate owners, the buyers as well as mortgage providers who all play their own unique roles in this sector of the economy.
The real estate and mortgage provider markets are among the potential yet very risky markets within the country; and are thus similar to the gymnastic participants in the Olympics who risk and strive hard to attain the coveted medals. The housing markets are on an upward trend recovering from the downturn experienced a few years ago. Real estate investors have ensured that in the recent past, purchasing opportunities in real property are available to the majority including foreigners.
Just like the various nations in the world will congregate in London for the 2012 Summer Olympics, the finances involved in housing markets come from various sources which range from: individual domestic investors, the country’s budget allocation, mortgages that are in most cases very attractive to the buyers and foreign investors.
However, most buyers get into the housing market without proper knowledge of the key rules involved. Mortgage calculators are tools that will assist the buyer to get a vivid idea of the totals costs and expenses involved in buying a house similar to the case where for instance in the London Summer Olympics the athletes have to get to know the best conditions to train in before the race in order to clinch the gold medal and make his or her country proud.
Some of these mortgage financial calculators enable: comparing the current and available interest rates for the different types of homes, finding out the expected monthly payments and the interests accumulated and having a tracker that will closely follow the rates which change frequently since the economy is subject to demand and supply forces which cannot be predicted with certainty.
As the world’s attention shifts to the London Summer Olympics, the buyers and those willing to invest in the housing market sector, ought to realize that the current situation where there are numerous available houses for sale on mortgage for instance in Phoenix at 16427 N. Scottsdale Road, Suite 145, 6200 Old Dobbin lane , Suite 190 in Columbia, Maryland, 12220 Sunrise Valley Drive , Suite 4 just to mention a few will not last forever and therefore grab this opportunity fast to have a comfortable home.
Similar to a case where in the Olympics a winner will be overjoyed at the his achievement of a medal, any lucky buyer of a house will be delighted to know that the US housing market rates have gone down and are now at very affordable rates. The prices have recently fallen by 7.22% this is according to the Federal Housing Finance Agency as the country recovers from the global financial crisis.
The mortgage delinquency rate has been on the decline that is; in 2011 the rate was 10.53 and the rate continues to decrease in 2012. The above statistics have resulted to the availability of more homes at affordable prices as well as an expanding rental market. Banks also play an important role in the housing market sector; the mortgage rates offered by various banks determine the speed at which the houses are sold.
When you're ready to tackle the Olympic challenge of getting into the housing market, preparation (or training) is key. Download the free eBook "The Only Mortgage Loan Options Guide You Need" at the button below. This 12-page eBook (or whitepaper or guide) offers insight into the mortgage options available through AmeriFirst Home Mortgage.
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