On a brighter note, the interest rates are still low so all realtors should be using the extra time on their hand to call any customers that purchased in the last 4 years and just let them know that rates are down in case they closed with a higher interest rate and that you're simply watching out for them and thought you'd contact them. Take advantage of that call or email to ask if they know anyone who's thinking about selling or if they have any referrals for buyers. Maybe you have nice listing to promote in the area they purchased and hopefully they know someone who might want to live there too!
Since sales are slow and listings are more abundant we might as well take the opportunity to reunite with those previous buyers and sellers. They'll may give you some business that you would have missed, you never know. They will have you in their thoughts with a personal call or email.
Emails are a great tool nowadays. Many people have eliminated the traditional home phone and opted for only a cell and the computer. Most customers change their phone numbers to the house anyway when they move but don't change the cell or email so it's always a great way to communicate without being intrusive.
With rates being so low many buyers are spending more on a home even though the ratio's and guidelines have been tightened up drastically the low rate enables them to still buy a nice home with a reasonable payment.
FHA buyers can STILL ASK FOR UP TO 6% SELLER CONTRIBUTION! We've gotten many calls asking about this and so far FHA hasn't changed the guideline but we're expecting it to come possibly by the end of summer. This would be yet another reason to market for buyers now! Get them the help with closing most of them need so desperately before the amount in lowered to 3%.
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