Save nothing by waiting - 02/22/08 03:25 PM
It's conventional wisdom that you buy low, right?  There are some buyers still sitting on the fence waiting for prices to potentially drop more.  There are many things waiting buyer have not considered.  One will be the rising finance costs when the housing market bounces back. 
I saw an article in Time Magazine that prompted this thought: 
Let's consider interest rates 1 year ago at 5.5% on a $200,000 home, the average in our area.  With a fixed mortgage and a 20% down payment, the monthly payment is $908.46.  Let's fast forward to today. Hypothetically if that home were to have a 5% price drop to … (3 comments)

 
Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) Rainmaker_large

Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team

Summerville, SC

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Certified Staging Professional (CSP) Elite Instructor

Address: 628 Long Point Rd, Mt Pleasant, SC, 29464

Office Phone: (843) 814-6680

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Charleston SC real estate, Military Relocation Experts serving Goose Creek SC, Summerville, SC and surrounding areas. CSP Elite Instructor, How to Maximize Your Client's Equity Through Home Staging.



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