Rent is Going Up and Interest Rate is Rising

June 11th, 2008 categories: Home Buyer, Real Estate

Sacramento Home Sales Up As home buyers put off buying a house because they think prices will continue to go down…let me just bring some perspective to this issue.

As a home buyer waits for the wonderful moment when the greatest prices in the world hit rock bottom, they are…

paying higher rent to the landlord where there is no tax deduction and when that house finally hits rock bottom, believe me you won’t be the only one making an offer. That is IF you still qualify for a loan at that point.

With interest rates on the rise, that home you have been waiting for even though the price went down, may end up costing you more each month in payments, that is if you can still afford the house.

I am always amazed when I hear a home buyer say that they are waiting for the prices to plummet more. What are you thinking? If you are so sure that the prices will go down by a certain percentage, then why don’t you simply offer less for the house while you still can. I’ve been doing that with all my home buyers. My home buyers are enjoying their new homes while those that are waiting for the sky to fall might just be too late to jump on the boat.

Hope I’ve given a few smart home buyers something to think about. It makes sense.

Lastly, I know I sound like a broken record but please remember that the first step in home or condo buying is to get pre-approved by a reputable Lender. Can’t tell you the number of phone calls I receive where the home buyer has not yet spoken with a Lender. To me, that’s like buying something at the store, writing a check and not knowing if you have the money in your account. Makes just as much sense.

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If you are thinking of relocating as a home buyer or simply considering selling your house, be sure to check a FREE Sacramento MLS of homes for sale.

Other Good Articles to Read for HomeBuyers:

Home Buyers, Do You Remember Being in School?

When Should a First Time Home Buyer Buy a House?

New Home Buyer Information You Need to Read

First Time Home Buyers in Sacramento-Congratulations

Important Buyer Information

Housing Bubble

Baby Steps When Buying A House

Shall I Buy or Rent?

This entry was posted on Wednesday, June 11th, 2008 at 6:00 am and is filed under Home Buyer, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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