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DO YOU THINK THE FEDS CUT IN THE DISCOUNT RATE WILL GET BUYERS MOTIVATED?

By
Real Estate Agent with Keller Williams Capital Partners Realty 277320
Here we are, mid March which normally is the beginning of the spring market here in Ohio. The phones are quiet and the emails seems to be full of "just looking".  At this time I have 50 listings, yet my team (myself and 3 buyer agents) have only 12 under contract.
  I hope some good news will come out of the "black box" we know as television. Housing, farming and auto-production are the big three that move our economy. Lets all track our calls and email hits in the coming weeks to see if this is the shot in-the arm this economy needs!
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The Michael Pierce Team
Better Homes & Gardens Kansas City Homes - Leawood, KS
Kansas City Real Estate Experts

Goldman and Lehman beat expectations this morning, that is a good start for sentiment.  It will be interesting to see what the Fed does today.  I believe things have already picked up and will continue to do so but my worry is that inflation issues will be right around the corner.

Mar 18, 2008 02:13 AM
Matthew Zgonc
Aksland Real Estate - Modesto, CA
Realtor, CFS, CVS
I think the fed cuts have already made buyers interested. Are the lenders willing to reduce their rates to align with the cuts? Right now the answer is no.
Mar 18, 2008 02:35 AM
Steve Hoffacker
Steve Hoffacker LLC - West Palm Beach, FL
Certified Aging In Place Specialist-Instructor
I don't know that the rate cut by itself will help - the others haven't because there are a lot of other pieces to this puzzle. But it sure can't hurt.
Mar 18, 2008 02:43 AM
The Michael Pierce Team
Better Homes & Gardens Kansas City Homes - Leawood, KS
Kansas City Real Estate Experts

Matthew,

The long term rate's will start to move in the opposite direction of the fed's move as investors worry about inflation.

Mar 18, 2008 02:44 AM
Darcy Rockwell
eMortgage LLC - Latham, NY
Mortgage Consultant
As a mortgage broker I am seeing the same situation.  I have a lot of prequals out there , with buyers just looking and looking and looking.
Mar 18, 2008 02:52 AM