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Good Real Estate News For A Change!

It’s no secret that real estate and banking have been in the news for all the wrong reasons during the past 12 months. Yesterday, we received great news from our preferred lender, Scott Miller, at National City Mortgage.  Interest rates are at long time lows right now.   Yesterday, the rates for a 30 year fixed rate dropped to 5.49% and the rate for a 15 year fixed mortgage dropped to 4.99%. According to The New York Times, most economists don’t believe rates will decline much more in the near future.

We’re not sure if we will see another time in the next 10 years where extremely low interest rates are coupled with lowered home prices.   This unusual alignment of low interest rates and low sale prices makes for a very opportunistic time to BUY a home, particularly if you would like to trade up to a larger home.   If you are planning on SELLING, the lower rates allows more people to qualify to purchase your property…producing a larger potential pool of buyers.

Tony and I would love to talk to you about any questions you may have about your current home or the market in a neighborhood that interests you.  Just call us or email us to arrange a confidential consultation.  We look forward to hearing from you.

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Real Estate News in Brief for February 2024

There’s a palpable excitement in the market as the spring selling season nears. The Fed may have kept rates on hold, but the market is expecting interest rate cuts in the near future. After two years of 15–20% pa declines in transaction volumes, there could be a big rush if mortgage rates drop significantly.

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