So... You have been sitting on the fence waiting on the housing market to hit bottom or maybe thinking there might be another eighth of a percentage point you can squeeze out of the mortgage. Maybe you might save another $1,000.00 off the sales price or another $13 a month on the payment.
Maybe not. Interest rates once they start moving off of historical lows might move very quickly up as more people jump in, once they see the end to super low rates, to refinance or buy. And that house you have been thinking about buying that has been for sale for 9 months and you just know that they are going to lower the price to that magical number that you are waiting for. Well someone might just offer the price that you are waiting for and that seller might just take it, and you will kick yourself as you watch the moving van pull up to move them in.
Isn't the fence getting a little uncomfortable. Well it isn't going to get anymore comfortable. At least here in the Knoxville TN market prices haven't dropped as much as the rest of the country and they probably won't drop much more. And mortgage rates can't get any lower. If you have found a house that you want and can afford it, BUY IT!! Right now is the best time you will ever have to buy a house. Get off the fence. Right now you can own a home for less than you pay in rent.
If you looking to buy or sell a house in the Knoxville TN market please give me a call or email me.
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