Monday, January 10, 2011

Get off that Fence!

This one is for all folks that have been thinking of upgrading to a bigger house.  Yes, you have been looking on and some of you got in touch with your Realtors and would like to make the move, but you are worried about the economy and unemployment possibilities and also wondering if the housing market has hit rock bottom yet.

Well, we don't have a crystal ball, but we can make some educated inferences from the current market conditions and what history has shown.  Interest rates appear to have bottomed out and seem to be on the rise.   Gone are the days of 4% fixed 30 year mortgages, the rates are already hovering at 5% already.  At the same time, a strong retail and manufacturing report has not reduced unemployment significantly, as a result of which, home prices continue to drop.  We are seeing historic low interest rates and low home prices, which is a strong indication that it is a great time to BUY!   For more analysis on the current market, check out a recent article on CNN - Kiss 4% mortgage rates goodbye. 

NOW is the perfect time to get off that fence and take action.  If you find your dream home over the next couple of months, it would be the perfect time to list your home and take advantage of the peak Spring market.  Please remember - the peak 'real estate season' starts way before the actual Spring season and especially in this case, with rising interest rates - buyers are looking to lock in as soon as possible.

Don't waste another day surfing the real estate websites.  Call your Realtor today!

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