Before retiring from the mortgage business I would receive at least one call each week from someone asking me to tell them when rates will be at their lowest. I always told them the truth; I don’t have a crystal ball and neither does anyone else.

So here’s my theory for those of you who care about the best time to make a decision on buying a new home or refinancing the one you are in. You start with today because that’s all you really have to work with right now; this moment. Find out what the rate is for the type of loan you want and know that for right now that’s what it is.

If you are buying a new home, sit down with your loan officer and calculate what the overall payment will be and see if it fits into your budget the way you envisioned. If so, it’s a good rate and price for you and you can move forward with the help of your lender and realtor. If it’s not within your budget you are either looking at a house that is not affordable for you at the moment or the rates are too high right now.

If you are considering a refinance to your current loan, take your most recent mortgage statement to a lender and let them help you determine if it makes sense to refinance your current loan. This is more than just comparing payments because the new loan has additional costs to it that need to be factored in. If you make that cost up within the first two to three years due to a lower payment, it just might make sense to refinance your loan. However, when in doubt, get several opinions before moving forward.

Either way, now is a great time to check it out because rates are low right now and no one really knows what will happen tomorrow, next week or next year. That’s the truth!

Yet the reality is Nashville is doing well comparatively. There has been a rumbling as of late that more and more transactions are for retail residential properties and not distressed properties that have been the dominate transaction for awhile now. The reason this is good news is it means people are now looking beyond the “deal” to get homes they want to live in right away. It also means that sellers have a chance against the glut of distressed sellers and foreclosed properties.

While there are still a lot of bank owned properties and homes that have agreements for short sales, the banks are so far behind on many of these transactions that buyers tire of waiting and turn to buying homes that are ready to be bought and moved into quickly. This is unfortunate for the properties that are sitting on the market and wasting away. In fact, more and more homes that have gone through the process of foreclosure have to go through mold remediation before selling because they have sat without proper air ventilation. This is a cautionary tale for those waiting on these types of homes to buy.

So while there are plenty of supposed “deals” on the market, it looks like sellers are once again viable options for buyers who are ready to purchase and move in quicker than later in the Nashville, Tennessee area.

Statistics show that in 80 percent of America’s largest cities it is cheaper to own a home than buy. The study was conducted by comparing the monthly cost of renting a home versus owning. Cities most affected by this trend include Phoenix, Las Vegas, and Fresno, California. If you live in these areas, or close to these areas check out the housing market in your area. You may be paying a fortune to rent a home when you could reasonably buy your first home. Keep in mind, this trend could be because of lowered property values, so you want to be sure you’re getting the best deal for your money. Check out the housing market in your area and decide if buying a home is right for you.

Freddie Mac is responsible for much of the tracking of home mortgage rates, and has reported that all types of rates have dropped in recent weeks including 5-year adjustable rate mortgages, and 30-year fixed mortgages. This low-rate mortgage trend has encouraged people to purchase homes, in wake of the current mortgage crisis. In fact, according to the National Association of Realtors, home sales increased by almost 7% last month. Check with your trusted mortgage lender to discuss the mortgage rates in your area. Despite the current economy, with mortgage rates steadily declining, this could be the best time of year to begin the process of purchasing a home. While real estate trends tend you fluctuate, this could mean good news for those looking to purchase homes. Hopefully this is good news for the real estate market, and for homebuyers.

If you are close to retirement age, and are considering purchasing a home, think about several factors that will affect your choice. Do you already own a home? If so, it’s important to make the necessary steps to sell your home at a price you are comfortable with. Retirees often use their free time to take up traveling, and if you are planning to do so, consider purchasing a smaller home, or one that won’t need a lot of maintenance. Planning on having a lot of family visit you? Then view homes that are more appropriate and spacious for overnight guests. There are many home lending options for retirees, and it is possible to find a great deal on a perfect home today, so talk to your mortgage lender about your options, and start looking for your new home.

With fuel prices constantly in flux, it’s no wonder people are flocking to homes that are great for solar power, or already have solar power systems installed. If you are considering purchasing a home with a solar power system, consider several things. Firstly, there is a level of maintenance involved with every solar system, so consult with the homeowners about what this entails. Oftentimes, the price of a home will increase due to solar energy systems, so inquire about this too. In many states, excess power generated from a residential solar energy system may be credited back to the homeowners, and there are tax rebates and other incentives to entice homeowners to continue purchasing homes with solar energy systems. There’s a lot to learn, so be sure to consult with your real estate agent, the existing homeowners, and a solar expert before deciding on a solar energy home.

Depending on your financial and personal situation, whether or not you have or do serve in the armed forces, and your physical location, you are eligible for home loans, grants, tax credits and more. Whether or not you plan on adding onto your potential home, or if you would like to invest in solar energy can also make you eligible for tax credits. Take the time to view multiple homes, in many locations. Don’t rush into anything and be open with your mortgage lender about all the facets of your home buying situation. Not only will this allow you to find a home that’s right for you, it will also save you the most money, and help you into the best mortgage situation for you and your family. Exercise best home buying practices for an overall positive home buying (and owning) experience.

Don’t jump into purchasing a home. If you do, you could wind up paying for a mortgage that you can’t afford, or you may even find yourself unhappy with the home you purchased. Instead, take the time to save up a sizeable down payment, and shop around to multiple homes before making a hasty decision. There are many different types of loans specific to the area you live in, and your financial situation. Take the time to do the research, and talk with a qualified lending officer before jumping into any sort of mortgage or home buying commitment. In doing so, you are more likely to make a responsible decision, and find a beautiful home that you will be happy in for many years.

RE/MAX Choice Properties in Hendersonville has been voted as “#1 in Sumner County” for their real estate services and professionalism. Whether you’re buying or selling your home, the real estate associates at RE/MAX will treat you with respect and professionalism. From the beautiful and expansive homes with multiple bedrooms and baths, to the more affordable starter family home, RE/MAX shows it all and treats you with respect no matter what type of home you’re interested in purchasing. Whatever price point you are looking at, let the staff at RE/MAX in Hendersonville take care of you, and help place you in your new home.

This is the same process for finding a good loan officer as well. Most of my customers are referrals from past clients or Realtors and most Realtors work with clients that are referred to them as well. However, if you want to get to know the Realtor before you ever call them take a look at their website. You can get a very good picture of their personality and how they work from simply reading and looking at the site. The main thing is to find a Realtor that works in your area of interest weather you are buying or selling.