As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months.
As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let me explain.
Last month, the Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about one full percentage over the next twelve months.
Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 even if home prices don’t increase:
“If you know someone who would appreciate the level of service and expertise that I provide, please contact me and I’ll be happy to follow up and take great care of them.”