What does this mean to us in the real estate world. To professionals it does not mean very much. the Fed Rate does not directly corrospond to reductions in the mortgage world. In fact interest rates could actually rise if the bond market fears inflation. So why is it so important. Consumers think it does reflect directly to the real estate market. This is a key indicator to get them into homes. Don't down play the rate cut. Endorse the cut and add it to your marketing material. This is such an awesome time to buy homes! Let everyone know it. Let them also know that expecting further cuts is not a sure thing.
This article from Reuters goes into that
http://news.yahoo.com/s/nm/20071031/bs_nm/usa_fed_dc_4
The market will get better but right now we have to get better at marketing ourselves and our communities.
Steve Jacobs
Lyon Real Estate
Oh by the way, I am never too busy for any of your referrals!
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