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Health & Fitness

Even more incentive for buyers

Spring is coming, and that is certainly driving a lot of the interest in homes currently listed for sale. But there are other factors at play.

Mortgage rates have declined over the past month and are currently trending back toward 4% for traditionally structured, well qualified loans. This is a significant development for buyers, as interest rates are a huge driver of home affordability.

Additionally, for buyers, the time to buy low is quickly ending, creating a sense of urgency to buy now before prices rise too high. According to CoreLogic, home prices in 2013 saw the largest percentage increase across the board since 2005, north of 11% as of December. The appreciation was most pronounced in the states that were hit hardest in the real estate collapse, but locally those statistics track.

Find out what's happening in Mineolawith free, real-time updates from Patch.

The spring selling season will be in full swing sooner than you think. Rates are low, there is urgency to buy now, and buyers are already coming out of their winter slumber.

If you're planning to sell your home in 2014, you need to be ready now. Don't miss out on the perfect, well qualified buyer because you waited a moment too long.

Find out what's happening in Mineolawith free, real-time updates from Patch.

And as always, if you are ever looking for a Professional on the North Fork of Long Island keep me in mind.

Full time Service, professional representation.

Check out my Corporate Web Site: www.elliman.com/egiordano

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