Where are we going with Real Estate?

By
Real Estate Agent with LONG and FOSTER REAL ESTATE, INC.

Does anyone know what's happening with Real estate?  There seem to be more questions than answers. Mortgage interest rates are at historic lows, and may drop even further.  House prices ,with few exceptions, are continuing to fall. There's a wide choice of houses ,inventory, for Buyers, but many of  them do not seem to recognize the great opportunities that are avaliable right now.  Sellers may need to lower their list prices or consider accepting lower offers, since it seems that in the near future they will only get less money for their homes and not more. Sure the Government incentives from the past few years to help Buyers are no longer present, but again there are more reasons right now to move ahead than not. One sticking point is that Buyers ,more than ever, seem to need great credit to obtain the financing they may need.  Obviously at some point mortgage interest rates will not only go up, but rise to much higher rates and stay there for an extended time. Buyers and Sellers may look back on the current times, and realize they should have acted and not waited.  Thanks, Rich Salla  GRI, ABR

Comments (1)

Gary Pike
Better Homes and Gardens Real Estate Metro Brokers - Powder Springs, GA

A rise in mortgage interest rates may be just what we need to get the fence sitters to make a decision.  There is no stronger motivation that the fear of losing out (on low interest rates) to get people to do something.

Jun 15, 2011 01:35 AM

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