Good Time To Buy
By Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome
( HomeRome Realty 410-530-2400)
With interest rates doubling recently from the low threes to seven percent, it has reduced the buying power by 30-40%. That means as the rate, hopefully, drops, buyers can afford more house. They can also refinance if that happens.As John Meussner in California states: " if rate increases put potential buyers on the sidelines, it would reason that reduced rates would bring buyers back to the market." Don't stop looking! As more homes come on the market, there should be more room to negotiate. Maybe you don't have to go to your maximum loan limit. Perhaps you can get a home more reasonably now. Many buyers have quit looking, and many sellers are in a position where they are ready to sell fast. The good thing is the feeding frenzy has calmed down. The multiple offers have slowed down, an...
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