There has been a great deal of chatter on the internet about how low interest rates are going to spark a rebound in the real estate market. I suspect there are local markets that are poised for this but where I am in California there is still some pain to be felt and it will take more than low interest rates to change this. Take a look at my weekly column at Rocklin & Roseville Today for my article, "Sacramento area sellers need more than low interest rates." I would enjoy reading your comments and hearing how you feel about your markets.
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount
Low rates will do nothing, affordability is what is needed and that will get here with the amount of foreclosures coming on line.
Take care!
RJH
Jan 30, 2008 02:24 PM
Tamarack Realty - Spokane Valley, WA
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices
I think we so have the availability here in Central Florida, and the market is surprisingly slow even on the affordable properties
Jan 30, 2008 02:28 PM
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs
Low rates are the answer to help the banks. It will all get back to the quality of jobs that can be created in certain areas. People will migrate to more affordable and low tax areas. This changes with time giving all areas a chance to change their ways.
Jan 30, 2008 02:29 PM
Flagstar Bank - Wilmington, NC
Right you are! And the rate cuts that were made were short term cuts and not Long Term. Long term cuts are the only cuts that affect mortgage rates on purchase money. Short term only lower Heloc's, credit cards; ect.
The best thing a Realtor can do this year is get with a great Loan Officer that works for a National Lender, such as Flagstar Bank. We have every program available and are able to give Realtors great information to increase their ability to sell more homes to more clients. I have helped 7 Realtors tripple their sales this month after working with them for the past 2 months. They were hesitant at the begining but now understand that working with Lenders are the way to go. If you need anything, let me know and you will see the difference.
Jan 30, 2008 02:31 PM
» Bill Burress Nationwide Mortgage Originator - Fort Myers, FL
Julie:
Wow! I am swamped. This new rate cut has my phones ringing off the hook. I am doing 100 applications per day. Happy Days are here again.
I wish.
Rates might motivate some buyers. I wonder just how low they need to go to kick it into gear. 2%?
Jan 30, 2008 11:14 PM
MagnumOne Realty - Roseville, CA
Thank you all very much for weighing in on this issue. The Feds action of the past few weeks is welcome but most likely too late to have much impact on the real estate market this year.
Jan 31, 2008 01:27 AM
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County
I believe those who are in the market already will buy still...maybe a little larger home. Others I believe will still sit on the sidelines.
Jan 31, 2008 01:55 AM
RE/MAX Preferred Properties - Vienna, VA
Broker, GRI, E-Pro
Low rates will increase the Re-Fi world but will do little for sales. People are not as rich as they originally thought they were.
Jan 31, 2008 07:33 AM
Comments(9)