THE FUTURE IS NOW. Buyers Who Want To "Wait" May Not Be Ready To Buy.

Real Estate Agent with Lenn Harley,, MD & VA Homes and Real Estate 303829;0225082372


It's amazing to me that, no matter how low interest rates get, some home buyers will still want to wait for interest rates to go down even more.

Once something reaches the historic low, betting on a new low is not a good strategy.  In fact, it may reveal a strategy of avoiding actually buying a home. 

I suspect that, when a home buyer is that focused on interest rates, they are not ready to buy.  Serious home buyers are going to look for what is today, now.  Serious home buyers are not going to be focused on what could be in the future.

In our fast moving real estate market, THE FUTURE IS NOW!!

Insprired by a post by George Souto, There Can Be A Cost By Waiting To Purchase a diligent rate watcher, agents also can gain insight into the behavior of home buyers through the buyer's focus when getting financing.

LOCK OR FLOAT???   Interest rates and their movement may make a difference in whether or not to lock in the interest rate NOW or let the rate float while watching daily.  This is where an experienced loan officer is critical.  Loan officers get daily investor rate sheets early in the day.  If they are looking out for a home buyer's interest, they'll get that LOCK done when the time is right. 

DON'T BE A STRANGER!  Home buyers, their agents and the loan officer MUST be easy to contact.  Unless there is a prior agreement between the buyer and the loan officer about rates/lock-in, the loan officer MUST be able to communicate with a buyer, sometimes within short hours.  If a buyer is at the stage of their financing where a rate lock-in is considered, they probably have a ratified Contract of Sale.  At this point, communication may save a buyer money over the years if they can lock in a good rate. 

Courtesy, Lenn Harley, Broker,, 800-711-7988.  Serving home buyers in MD and Northern Virginia.





                                 "Honey, that was a good house for us.  We should have made an offer."

                                 "I agree Dear.  Next time we'll know better.  Now we have to find another property."


Lenn      search     

Lenn Harley, Broker, Realtor,, 800-711-7988


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Frank Laisch
Orlando, FL
"The Insurance Guy"

Lenn, you are so right, NOW is the time to buy. George's graph show it can cost you thousands by waiting to buy. SO BUY NOW 

Mar 04, 2013 08:15 PM #1
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Waiting for the "perfect" time is not the way to go, it never happens.  The time is NOW!

Mar 04, 2013 08:18 PM #2
Lenn Harley
Lenn Harley,, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Frank.  Indeed.  Agents need to know how to pull amortization tables.  Buyers will see the difference.

Roger.  If you need a home, the time is always NOW.

Mar 04, 2013 08:21 PM #3
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Lenn,

You are right..waiting for the perfect timing could cost you buying at all! I had a call from a gentleman yesterday..has been renting for 5 years! Had been afraid to buy... felt the prices and rates were continuing to fall so never prices are up and he can't find anything in the school district he wants to buy in! He lost his chance to find a he will have to pay more or not buy at all!

Mar 04, 2013 08:48 PM #4
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Economists would call that "opportunity costs."  The cost of not doing something, or the cost of doing one thing at the expense of another, is an opportunity cost.

Mar 04, 2013 08:53 PM #5
Betsy Schuman Dodek
Washington Fine Properties - Washington DC Area Real Estate - Potomac, MD

Hi Lenn,

I think oftentimes when a buyer says I'm waiting until rates go down either doesn't have the downpayment or doesn't qualify for what they want to buy. It's usually affordabilty because rates are great NOW and they would move if they could.

Have a great day!


Mar 04, 2013 08:59 PM #6
Lenn Harley
Lenn Harley,, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Dorie.  BINGO!  He isn't alone.  I've been through these cycles many times.  They wait, wait, wait until it's too late.

Jay.  Indeed and it's a lesson some consumers never learn.

Betsy.  I've seen that too.  Buyers who are waiting to qualify don't know how it works.

Mar 04, 2013 09:30 PM #7
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Lenn, I am not a gambler, so I have always gone with what I know if I think that it is good, in stead of taking the risk that it will get better.  But that is me, and what is right for me, may not be what is right for someone else, that is why I provide the information, and the Borrower is responsible for making the decision.  Having said that it is amazing how the gamblers, later try to make it my fault because they made the wrong decision to wait. 

 I have been thinking of having a T-Shirt made that says "It's My Fault".  I know that my wife would agree with that ...... LOL

Thank you for the mention in the blog :)

Mar 05, 2013 03:36 AM #8
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