As the real estate market in South Florida continues to find the floor in terms of pricing, another nuisance is slowly finding its way into the marketplace ...interest rates!!!!  Thankfully mortgage interest rates have been at historic lows for quite some time now.  This has been taken for granted and with  market turmoil and the huge surplus of available housing, rising interest rates have a direct impact on the ability for many buyers to qualify for the home of there dreams.

 As a Licensed Auctioneer, we are very fortunate that the vast majority of purchasers pay cash.  This in part is due to the specific guidelines and the pre bidder registration process which includes a no contingency clause for the buyer, even financing!!!

 If rising interest rates and a over supplied sluggish market  have you second guessing when or if you can sell any time soon, you owe to yourself to consider the Auction sales method. 

 

 

 
Post is included in group: Auction Real Estate

2 Comments on Rising Mortgage Rates and the Impact on Sales

JUN
12

Dear Tony,

In my opinion auctions could be a risky business for your customers. Sunce it all depends on the biding of the prospective customers and it may not necesarily reach the value they are expecting.

Gabriel

3:37pm • #1

You are correct. Auctions are not for everyone.

Depending on the type of auction that is being held, the sellers can protect the amount that that they are willing to sell for.

Thank you for your comment.

 

Troy
3:44pm • #2

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Troy Fowler

Miami, FL

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Auction Generation

Address: 1200 Brickell, Suite 1950, Miami , FL, 33131

Office Phone: (305) 754-2888

Cell Phone: (305) 206-0349

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