I must say that blogging is quite new to me...even though speaking my mind isn't, (just ask ANYONE who knows me!) but my thought today is on our present 'Housing Crisis' as the media keeps calling it. Well, not EVERY corner of the country is in crisis mode. For example, the average price of an existing home in my area in Arkansas is still creeping up ever so gently. That may not be news to celebrate to many of you, however, at least it isn't plummeting! As a matter of fact, our sales are actually staying relatively steady. I will admit that we are in a time of correction, but that is a normal cycle that must be maintained. There is no way that the 'bubble' can continue to expand without having no adverse effects or going through a time of correction. I would say in our area, while I am enjoying the best year I have ever had in my Real Estate career, we are seeing the majority of our challenges in working with our lenders. (actually, I had a lender tell one of my clients that he really didn't need me at all...but I won't go there, THAT'S a whole other blog-right??)
So while our housing market is experiencing it's challenges, lets focus on the great things about this market today. Did you know that it's a FANTASTIC time to buy??? Yep! That's right! An average home mortgage interest rate can still be found for less than 6%! (depending on each individual person's situation because interest rates are highly personalized to fit each different consumer-there, that's my disclaimer) That is still an AMAZING deal! If you are looking to lock in a new mortgage, you may be able to afford more home for your buying $$$ because you may qualify for a wonderful rate....not to shabby! Plus it IS a buyer's market....not only may you qualify for a great interest rate, in a buyer's market, you may negotiate a 'deal of a lifetime' on that Dream Home you've been always dreaming of. So why not take advantage of this 'Housing Crisis' and jump in and see if right now is the time for you to buy??? (if so-PLEASE give me a call-I'd love to work with you! ;-)
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