I just picked a little good information that probably most of you already use and are well aware of and that may help buyers move off the fence:
"Did you know that it is very likely that interest rates are going to start rising again soon. (The last graph I observed showed them leveling off) Did you also know that a .05 percent rise in the rate on a conventional mortgage on a 400K home reduces your buying power by 25K. That means you can now only buy 375K worth of home. That might not make a lot of difference to you but what if it goes up 1 percent. Now you can only buy 350K worth of home. Now it might start making some difference. This could mean the difference between having a pool and not having a pool. Guess what happens if it goes up 2 percent...you just went from a 400K home to a 300K home. These days that could very well mean the difference between ocean view and rain water view."
I think you get the point. I heard this little bit of information in a recent Realtor.com presentation of course sanctioned by NAR.
Oh buy the way, Mr and Mrs. Seller, you want consider this when pricing your home. The higher the interest rates the less buyers in "pool" of potetial buyers.
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