Okay Buyers, you might be getting a little bit of peace on your side of the negotiating table. Follows is a quote from an editor at Kiplinger’s on CBS Early Show. This should hearten those of you who have been used, abused, overused and generally maltreated in this Seller’s market.
Two things to remember:
1. It’s still a Seller’s market; those Sellers are going to have ‘attitude’ for awhile, yet. Tread cautiously.
2. Interest rates are climbing. Already this week the median rate for a 30yr fixed rate loan is 6.47%. Act soon.
From Kiplingers/CBS Early Show
“It was always a sellers market; now let’s just say there’s more of a balance between the buyers and sellers.
“If you are looking to buy, it’s still a good time to buy because rates, while they have been edging up, are still low, a little over 6 percent and, if you wait, rates are going to be higher and you could price yourself out of the market. It’s a good time to buy now, too, because sellers are getting a little anxious, winter is coming up, it’s a very slow season and sellers may we more inclined to give you a better price, certainly better than what was going on in the summertime.”