new construction homes in Geneseo

Mel Foster Co. Geneseo & Chamber of Geneseo Celebrate

Mel Foster Co. Real Estate Brokerage in Geneseo had a re-opening of its downtown office on Wednesday, April 8. The interior spaces of the office were completely remodeled to accommodate technology upgrades and improved communication tools.

Fred Dasso, managing broker of the Geneseo office said, “With this office concept and remodel project, we are happy to provide a ’boutique-like’ experience for our clients and Realtors®.”

The newly designed boutique-style space, in the heart of downtown Geneseo on State Street, features a spacious seating and conversation area with a large flat-screen display where guests can explore real estate options with an agent.

Lynsey Engels, Mel Foster Co. president, Real Estate Brokerage, said, “Mel Foster Co. is continuing to stay current with industry trends to help agents work more efficiently and comfortably in an office setting. Our Galesburg office was converted into a boutique-style space last year and the feedback we received from agents and visitors made us eager to duplicate that success in Geneseo. Our agents can take advantage of rapidly changing technology within the office and meet with guests in a location that enhances communication to create a better experience for those looking to buy or sell a property.”

With housing prices and mortgage rates on the decline, now may be the best time to consider purchasing your new home. It may seem like a hassle to consider a major purchase and a move, especially during this year’s exceptionally brutal winter, however there are several reasons why waiting it out might not be in your best interest.

Rising Interest Rates

According to Freddie Mac, Fannie Mae, the National Association of Realtors, and the Mortgage Bankers Association, 30-year mortgage interest rates are projected to be over 5% by February 2015. This increase brings interest rates almost an entire percentage point higher than current market rates.

Dwindling Supply

Inventory in many regions is on the decline. Buyers in markets nationwide are beginning to find that their choices are becoming ever smaller, as the once large assortment of homes continues to decrease.

An Increase in Prices

Homebuyers will find that they are going to pay both a higher price and incur a higher interest rate if they wait until spring. In the long run, higher sales prices and interest rates could mean hundreds of dollars more in a monthly mortgage payment.

Home Ownership Creates Wealth

In a recent study, it was found that the net worth of an average homeowner was 30 times greater than the net worth of a renter. Whether you rent or own, you pay a mortgage. Would you rather pay down your own mortgage or your landlord’s?

Tag: new construction homes in Geneseo

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