Did you miss the bottom of the market?

The bottom of the market: That specific time that the prices are the lowest so you can buy the most house for the money.  That's all fine ...

Last week the interest rates increased more than 3/4 of a point.  That's huge.  Do the math.  A $400,000 loan at 4.75% increases to 5.75% and it cost you $8,100 over 5 years.  The tough part is this;  If you qualified to the limit at 4.75% for the $400,000 ... with the increase to 5.50% you can only purchase about $365,000.

So the market may have come down but the increase in interest rates has more than washed that away.  The home you can buy may be of lesser quality that those you could buy 2 weeks ago.

I've been saying for the past 3 months, "It's Time".  To find out more about us and our services, go to www.BePicky.com.  Contact Tom Perry directly to schedule a meeting to discuss your options.