Are you one of those buyers who’s waiting for prices and interest rates to come down? If so, you may have missed a golden opportunity.

In today’s Gazette it quotes various buyers who missed 5% interest rates because they are now 6%. 3 lenders I spoke with yesterday including Wells Fargo and Bank of America said the spike in rates was way over due. Rates need to go up because the American dollar is being devalued because of the trillions of dollars being spent by the government.

So what are you going to do? I am seeing home prices remaining stable and in a few cases going up. The market is red hot below $200,000. From $200,000-$300,000 it’s a solid market. The real deals are being found above $ 400,000, how much longer will you wait for drops. The military is coming in. they are buying the $200,000 and below. Those sellers are turning into buyers of the higher end homes. It’s a trickle up effect.

Interest rates while they took a 1% spike up, should not change dramatically. It is a matter of time before they will have to. The experts feel that current rates will hold for another year. 5% rates are low. Back in the 1980’s they were 14%. In the 90’s we thought 9% was a great rate. Whether the rates are 5% or 7%, it’s cheap.

No one is good enough to predict the market at its lowest point. I have been saying for months that we are there or awful darn close. Please give us a call so that we can advise you and your situation.

Thanks,

Brian