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Buyers: Take Advantage Of Venice Real Estate Market Before It’s Too Late

If you are shopping the Southern California area for a new home, we would like to encourage you to consider the Venice real estate market. With the market starting to turn into a seller’s market once again, Venice real estate agents say you can’t act quickly enough to snatch up the dream home that you’ve been looking for and here are a few reasons why.

First of all, mortgage rates are currently at historical lows, however they are beginning to gradually increase again; interest rates have increased almost a half a percent in the past four months. While this may not seem like much, over the span of a 15 or 30 year loan, this can make a big difference.

Secondly, home prices are beginning to increase as the Venice real estate market rebounds from the recession; inventory supply is also low in the Venice real estate market, driving prices and competition up.

Lastly, if you are using an FHA loan to purchase your home from the Venice real estate market, there are a few new changes going into effect in June. Most importantly, if you put down less than 10% you will be required to pay mortgage insurance on the life of the loan.

Venice real estate agents don’t want to pressure you into purchasing a home if you are not ready, however they do want you to be aware of the many changes that are currently taking place. Purchasing a home from the Venice real estate market is a great investment, especially since home values are on the rise; we just want you to be able to get the most for your dollar before it’s too late.

To continue, or begin, your search for your dream home in the Venice real estate market, contact your local realtor today.