Can Buyers/Sellers See Urgency In The Real Estate Market?

| July 7, 2015 | 0 Comments

dollarsign-urgentThe best time to buy real estate is when prices are low and money is cheap, right?

Now consider this. Fed policymakers’ have made public statements that the central bank probably will raise its benchmark rate this year.

That gives food for thought to your buyers and sellers in the real estate market.

If the rate goes up even .5% that could make a difference in their opportunity. Here’s why:  For every .5 point the rate goes up, a buyer loses 5% of his buying power. That means a $200,000 buyer can now only afford $190,000. That’s bad for the buyer and shrinks the pool of buyers for the seller. Also note, for the buyer, .5% on a $300,000 mortgage means $90 more a month on the payment! That’s $1,080 a month and $10,800 over 10 years!

Sell now to move up and your pool of buyers just may be larger.

Buy now? And you may put $10,000 or more back in your pocket!

Category: Words Of Wisdom

About the Author ()

Mark Olesh, Regional Director - In the last 5 years, Mark has led the South Florida Region to Top 5 finishes in growing his team 3 times (including #3 in 2009, #2 in 2012, and #4 in 2013). In that same time span as Regional Director, total agent commissions have increased by $84 million. The Region has 28 market centers and over 5,000 agents. Mark began as a capping agent in Palm Harbor, became an ALC member and was then recruited into the Team Leader opportunity. There, under his leadership, the office grew from 95 to 210 agents and had sales of over $220 Million. Mark also enjoyed coaching many of the top agents in the market center as well. Mark is passionate about the Keller Williams opportunity and using it to help you build wealth in multiple areas. Contact Mark today for a confidential career consultation. 727-772-5600 x23

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