The market is not balanced right now, but there are a couple of things to keep in mind if you are a buyer that is waiting on yet more of a price decrease.  While you may see a small drop in prices for a little longer, keep your eye on the interest rates too.  Just looking at the last week of May 2009 - the interest rate increased from .50% to 1.00% as fixed-income investors demanded more for their money.  This result is in just one week!

What is the old saying?  You either pay it this way or you pay it that way?  Keep your eye on what is most important to you.  What can you live with and what can't you live without.  If you want lower interest rates, you probably should get in the moving forward mode and start your search for that new home.  If you do not care about the interest rate but want to pay less for the property... you may not get that either by procrastinating too long.  The market is unforgiving and it is not going wait too much longer because a great change is going to come.   Interest rate is a good indicator.

These low rates are artificial! Historically, interest rates have been above 6.00%. And any rate obtained below this number is a great deal, especially on homes with price tags from 2003! Waiting for homes to decrease another 10%, might cost you a higher interest rate for 30-year fix!

WEBSITE: http://www.motheranddaughterrealtyteam.com

• Want to purchase a REO property? Want to know what properties I have to sell?
• Need information on the foreclosure process? Ask me for a FREE Pre-Foreclosure Guide 
• For a FREE MARKET EVALUATION of your home  
• Need a Short Sale Specialist?   

Take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our aggressive marketing plan includes on-line listing advertising. 

↑ Grab this Headline Animator