With rates back up in the mid to high 4% range and threatening to go higher and home prices stabilizing it seems a lot of prospective buyers are finally getting the message ; Better buy now before rates and home prices go back up. It's already happening in our area and the selection of desireable homes is dwindeling.
Many prospective buyers have learned the hard way that short sales and foreclosure properties are often more trouble than they're worth. By the time they buy a house that's been trashed and fix it up they are usually over-invested for the neighborhood.
Like being splashed with icewater prospective buyers seem to be jumping off the fence and into the car to seriously look for property. Another thing I think will help fuel buying activity the first quarter will be tax refunds which some will use to pay downpayments or closing costs.
No comments:
Post a Comment