I was going thru the news paper this morning and reviewing the statistics on the area here in Orange County California and again there are wonderful signs that the market is moving. It is not moving at a fast pace but it is moving. There is an increase of purchases in the area. Yet, prices continue to go down. On Bank owned properties there are multiple offers forcing the price up from the list price.
If you were waiting to make a move and wanted to make sure that all of the correct signs were there, do it now. The pressure is on the interest rates to move up and that will hurt the amount of home you can afford to buy.
This is not like the last major recession during the Carter administration when interest rates were at 19 3/4 percent. It was impossible to get a loan and if you did get one it was like purchasing on a credit card. Don't wait for interest rates to kill the market buy now.
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