Lower Prices Entice Buyers
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As prices in some communities experience drops, many potential buyers are jumping in and getting the home they want, in the neighborhood they want, and at a price or monthly payment they want.Â
Lower home prices are turning potential buyers into active lookers, and sellers are showing more willingness to negotiate, the NATIONAL ASSOCIATION OF REALTORS® reports. The trend is expected to inject life into slowing markets.
Interest Rates to Rise Next Year
The 30-year fixed-rate mortgage will probably average 6.5 percent in the fourth quarter but will trend up modestly in 2007. The 30-year fixed-rate mortgage will probably average 6.5 percent in the fourth quarter but will trend up modestly in 2007.
As sellers look for creative ways to sell their home, many buyers are getting their dream home at a price and terms they want. Interest rates are good, but may be trending up in ‘07. As sellers get more creative, options like seller buy downs are a great way to save tens of thousands of dollars in interest payments. One word of caution is this; sellers markets generally last longer than buyers markets, and as we approach the holidays many sellers will be looking for more non traditional ways to sell their home, and conceding to buyer’s terms. Don’t think that this opportunity will still be here in ‘07 because you may miss the boat on this one and end up losing tens of thousands of dollars or the perfect home.
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Moxley Team serves Pleasanton Home Buyers and Pleasanton Home Sellers. From Dublin Ranch Condos to Dublin Ranch Luxury Homes the Moxley Team of Alain Pinel in Pleasanton provides Home Buying Tools and Home Selling Tips. MoxleyTeam.com provides info from Pleasanton Home Sales to Dublin Ranch Developments, Dublin Ranch News and Foreclosures in Pleasanton and Short Sales in Dublin Ranch.
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