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Prior to the Presidential election many homeowners and homebuyers had been waiting to see what would happen to the housing industry depending on the outcome. Now that the dust has settled, we can rest assured that nothing drastic can be expected at least for now.
Interest rates continue to be at all-time industry lows. This is happening because the Fed has kept the base rate at or near zero expected until mid-2015. While we do not anticipate much change during at least the next 12 months or so, that does not mean that rates will stay so low. In fact, as economists will tell you, as banks continue to pump more money into the economy and consumers keep exhibiting stronger confidence through mortgages and other major purchases, rates will begin to climb again.
What does this mean to you as a buyer? It means that if you see a home that you want to buy, now might be the best time to purchase it. When you combine the low home prices with the phenomenal options out there for financing, it’s a clear win-win situation for all parties involved.
Sellers are enjoying the influx of buyers that are coming out of the woodwork with pent up demand also as a result of waiting around for the election to be over. So if you have been on the fence about buying or selling, this is the time to jump off.
As always, we are right here waiting for you, looking forward to helping make your real estate dreams become a reality!
