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Interest rate vs money balance

Interest rate vs money balance (Photo credit: RambergMediaImages)

Well, well, well. It seems like this economy is finally getting on track! What does that mean? Some can consider it a good thing, others can say its not so good.

The good- Stock market steadily “growing” like it is “supposed to”. Home prices are back on the rise (Especially here in South Florida!). Unemployment declining, or so it seems. Everything is peachy, right?

The bad- Interest rates for mortgages are rising! If fact according to Mortgage News Daily this past Friday was the highest one-day increase in average mortgage rates in record-keeping history! If you thought that you would “wait for the bottom of the market” to buy your next home, and you haven’t done it yet, you have officially missed the boat! Although prices may not continue to rise like the rocket ship that it has been here in South Florida over the last six months, I do not think interest rates will come down again, unless something crazy happens.

The Ugly – Doom-and-Gloomers will continue to think that the financial world is going to fall apart eventually and these people will go and do absolutely nothing about interest rates or home prices. People will continue to think that our economy is falsely inflated and it is just some bubble that is going to pop any minute. Unfortunately, for these people if that happens, they will be hurting right along with everyone else, only they could have missed the opportunity boat completely by being blinded from the black clouds over their heads.

What does all this mean? I think that right now the Real Estate market is action packed. In South Florida, it doesn’t seem that enough sellers are around to satisfy the buyer’s hunger for property. Whether it be a foreign investor, flipper, first time home-buyer, or just someone looking to upgrade, this is prime time. Sellers are getting list price or better, and buyers either have the cash, or are taking advantage of the low interest rates. As interest rates rise for mortgages, borrowed money will become more expensive. If real estate prices were to fall, buyers could actually pay more in the long run, than buying a higher priced property NOW with lower interest rates.

Just throwing my two cents out there. I am here to help through the entire process. I know what it is like out there. Call me today and I will be your eyes and ears in this ever changing market place!

Make today AMAZING!

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I began my career with Keller Williams Realty with almost 10 years in sales and customer service experience. I grew up in New Jersey and moved to Palm Beach County in 2000. I know how hard it can be to find a place to call home. It is important that you have the right support every step of the way. I am committed to work hard in order to get you into your dream home or office, or sell your current property as fast and efficiently as I can. I am a hard-working and informative Real Estate agent, who understands how difficult the buying or selling process can be in the Real Estate world. I promise to keep you informed during every step of the way. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you. My wife, son, and I love the tropical paradise that we live in here in South Florida. Palm Beach County hosts some of the best and well known restaurants and shopping in the world, which is great for both the single and family lifestyle. If you are a fishing enthusiast, you have reached your destination. Whether it's bass fishing or deep sea fishing, South Florida has it all. I enjoy golfing on some of the best golf courses in the country here in South Florida. Though my handicap may not show it, they keep me coming back. Let's get out there and catch a few large-mouth or tee it up!

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Posted in Mortgage Rates, Real Estate

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Frank Gaudino, REALTOR

Local Real Estate Agent to Palm Beach, Jupiter, Palm Beach Gardens Area

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