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The Real Estate Debate

After watchingthe political debates it made me stop and think what people must be thinking about the current real estate market. On one hand, we have the group that thinks it is better to wait and not purchase to see if they can time the market, and on the other hand, we have those individuals that are out looking to purchase their dream home at these reduced prices. The sideliners would tell those people to wait, prices will come down more. In truth, they may come down more in some areas of the country ,but what you are risking is the rise in interest rates to pay for these homes. In the end, you may pay more in the long run because of the increased interest you will pay over thelife of the loan. These past couple of weeks we have seen interest rates rise at least a half of a percent. Is this the beginning of a trend ? I don't know but whatI do know is, that there are some incredible deals out there right now when the interest rates are hovering at 6.5% or less. In fact, I am in the process of buying a property right now that will be a great investment in the years to come. Prices will rise again they always have.

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