Interest Rates are Falling
January 25th, 2008 Posted in La Grande Real Estate
Interest Rates are falling and now is a great time to buy a home. The Federal Reserve recently cut the interest by 3/4% for banks that borrow money from the Government to make loans. This is great news for Buyers. The Real Estate market has changed during this past year. In the last several years we were in a Sellers market and Sellers were in the driver seat when it came to negotiating for a sale. In many situations, Sellers had several offers from Buyers to choose from. Buyers had to compete with each other for the Sellers home. That’s all changed now. The market has completely flipped around. Sellers now have been watching the news of the market and its all been negative from their point of view and they are now more willing to work with Buyers to put a deal together. Buyers now are in control of the negotiations process. They now have a good interest rate with neumorous loans to choose from. They also have Sellers that are spooked and are willing to do what it takes to put a deal together.
For a better perception of our local market, contact a Realtor at John J Howard & Associates. We know our market well and we keep in close contact with our local lenders. You can contact us at 541-663-9000, 877-359-9888 or at homes@johnjhoward.com
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