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Words of Warning For My Home Buyers

By
Real Estate Broker/Owner with Total Care Realty NCRE# 257455

Words of Warning For My Home Buyers

 

Rising Interest Rates  The days of a buyer’s market are past. The inventory of homes for sale here in the Greensboro, NC market are very low.  So now as the market is starting to turn another change is slowly but surely beginning to arise.  The interest rates are starting to edge upward.  At the beginning of the year mortgage rates could be found in the low 3% range.  I had buyers getting loans between 3.25 and 3.5%.  A month ago buyers were still able to obtain a home mortgage for 3.75%.  Now I find that my buyers are getting quotes of 4.0%.  So very slowly and quietly you are seeing your chances of buying a home at these still historically low rates.  Believe me when I bought my first home back in the the mid 1980’s for a then interest rate of 11% I was lucky to get that.  So just as a word of warning the longer you wait the more you will pay.Home Buying in Greensboro, NC

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The Author:

As the Broker-in-Charge, owner and founder of Total Care Realty, LLC, Larry is focused on quality of service. He believes in being on the cutting edge of any product or process that will help market the client’s property or help them find the perfect home. Larry has been consistently recognized as going above and beyond for his clients; he was described as a ‘personal concierge Realtor®’ early on in his Real Estate career. Drawing on his past experience of owning restaurants and working with new technology, innovation is his focus. Larry often says, “we are not afraid to take advantage of new technology as soon as it is available instead of waiting for a corporate office to tell us what we are allowed to do”. This is a benefit of being an independent Real Estate company. As a graduate of The Citadel, instilled in him is the importance of discipline, loyalty, focus, and determination. Marrying those ethics and ideals with the hard driving focus it took to own and manage restaurants for almost twenty years, has given Larry a passion to make sureclient satisfaction is the number one priority. “As your Personal Concierge Realtor® it is our job to help take care of every need of our clients.” Larry Story — Total Care Realty, LLC — 336-327-1841 also at  http://totalcarerealty.net

Copyright© 2010 By Larry Story, All Rights Reserved…

 

 

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Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Larry-Thinking back to the '80s that 11% interest was a lot better than what happened next when the rates went above 15%. Sometimes it's not wise to wait too long.

Jun 13, 2013 05:22 AM