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William Piotrowski, Just Call William 630-881-8655 (Diamond Residential Mortgage Corporation )

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Rainmaker
1,552,928
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Date the Rate,

Marry the House

And Divorce the Landlord!

Feb 16, 2023 01:17 PM
Ambassador
3,167,489
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I don't work with buyers much, but that's a lender conversation.

Feb 16, 2023 01:44 PM
Rainer
380,867
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

I tell buyers shop for fees, rates are changing and can get worse.

Feb 16, 2023 01:34 PM
Ambassador
1,456,769
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

A story in our local news this week is cautionary:  A couple moved from Brazil to Canada and purchased a home last year when sales were crazy.  They were advised to have an adjustable rate mortgage on their $790,000 home.  Fast forward to this year and their rate has doubled as has their payment. The property value has dropped $150,000   As a Realtor I stay far away from mortgage advice as it is out of my range of expertise 

Feb 16, 2023 10:42 PM
Rainmaker
1,092,847
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Most buyers that I work with are cash buyers so I rarely deal with rate shoppers. When I encounter one, I tell them about buying our first house right before interest rates and prime skyrocketed in the 80s and that there are many financing options available to explore. The extremely low interest rates that we saw were an anomaly and what we are seeing is a return to more normal rates.

Feb 16, 2023 01:08 PM
Rainmaker
632,775
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Based on long term history we are seeing a normalization of interest rates and the savviest home buyers know any market is a good one to buy a home ~ so long as you have an expert guiding them!

Feb 16, 2023 12:10 PM
Ambassador
4,716,073
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Those words are true and I actually laugh at the rate shoppers since they always seem to end up in a worse position, haha.

Feb 17, 2023 04:41 AM
Ambassador
3,589,741
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

I do not hear people saying this William.  They know that won't happen for awhile and move forward anyway in other ways to buy a home. Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets BINGO!

Feb 16, 2023 03:35 PM
Ambassador
3,349,229
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I have yet to work with a rate shopper waiting for rates to drop.  

Feb 16, 2023 01:49 PM
Rainmaker
902,038
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Sounds good! It's kind of like "buy low, sell high".

Feb 16, 2023 12:04 PM
Rainmaker
5,237,958
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The time is now. Date the rate! Marry the real estate. 

Feb 17, 2023 03:34 AM
Ambassador
3,138,132
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

High interest rates are temporary and go higher. "Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world." Franklin D. Roosevelt 

Feb 17, 2023 06:58 AM
Rainmaker
765,973
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

You're paying the mortgage so you need to be comfortable with the payments.  Waiting is a gamble as prices can go up or down and loans can be refinanced.  I'm here for you if you have questions and there are several resources to assist you with a decision.

Feb 16, 2023 03:41 PM
Rainmaker
906,077
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

This is what we're experiencing. I tell them the same thing. Many homebuyers have never been adults in a time where interest rates were this high. We don't know when rates will go down or how much. The amount they're losing while renting may be more than they think they'd lose on a higher interest rate. When we purchased our home, interest rates were about this high and we still bought. It was tight for us at that time but now we own a house and have 3 times or more the equity.

Feb 17, 2023 06:33 AM
Rainer
195,522
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

Don't wait to buy real estate.  Buy real estate and wait.  - Will Rogers

Feb 17, 2023 05:47 AM
Rainmaker
1,322,519
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Date the Rate.

Marry the Home.

Feb 16, 2023 05:04 PM
Ambassador
5,253,385
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Date the rate & marry the house comes to mind, William! 

Feb 19, 2023 07:49 PM
Rainmaker
4,959,192
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Very wise words Williams

Feb 17, 2023 10:50 AM
Rainmaker
1,056,097
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Waiting for interest rates to drop is like waiting for the market to change . . . it will, but directions are relative! 

If it costs you what you want, you'd have been best off to buy and refi. 

Thank GODDESS most of the buyers I do work with are cash. 

Feb 17, 2023 08:34 AM
Rainmaker
852,862
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

"Marry the house; date the rate".  

"Your rent is 100% interest".

Feb 17, 2023 04:52 AM
Ambassador
6,416,169
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

"So you want to wait until the rest of the buyers start buying again so that you can pay MORE for your next home?"

Feb 17, 2023 08:01 PM
Rainmaker
2,784,416
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Rate shoppers are not serious it can be argued. The stall or having any considerations that come up go by different names including buyer's remorse at last minute. Get-in or get-out is the core reality of buying & selling. 

Feb 17, 2023 01:25 PM
Rainer
16,288
Brian Petruzzelli
LA and Las Vegas Real Estate - Hermosa Beach, CA
LA and Las Vegas Homes For Sale

What a great idea, thank you, William, for sharing. With selling luxury California homes for sale, the market is already pretty expensive and sales right now can be especially difficult. 

 

Mar 15, 2023 07:24 PM
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