|
Florida Gulf Coast Home prices are down but interest rates are on the rise.
So what do you do if you are a prospective homebuyer? Do you wait to see if prices are going to drop any further?
Even if prices drop further rising interest rates will wipe out any further price reductions through higher monthly payments.
Today's sellers are more open to reasonable offers, and are prepared to negotiate and even throw in some extras to move the deal - like helping out on closing costs. The ball is very much in the buyers' court
Key underlying economic fundamentals for home sales, continue to be strongly favorable.
With sales rebounding in the weeks ahead in this year's home buying season, those houses won't be around forever.
“We see that good values are selling quickly, it’s the properties that are priced too high that do not sell” says Kim Gibbons, Broker ERA Beach Ball Realty, Pensacola Florida.
For serious buyers this is a great time to buy. Prices are down, interest rates are still relatively low and many well priced homes are now on the market.
So, over the next few months or so, there is a window of opportunity - a window that won't stay open forever.
From the Pensacola Real Estate Newsletter, June. 15, 2007 |
