Brookhaven Real Estate Statistics - Interest Rates the Biggest Threat!
So one of the biggest fears I experience with folks looking to purchase a home is the obvious threat of price increases. If you haven't noticed that we've had big jump in home prices over the last year, you probably haven't paid any attention! Buyers are in a race against time in many of their minds and making very aggressive offers so they can close on a home soon.
Find out what's happening in Brookhavenwith free, real-time updates from Patch.
I was at a conference for Keller Williams in Texas recently and heard a statistic that's even more alarming than a jump in prices. Folks, if you have to be concerned about one thing right now, it's interest rates! Did you know that for every 1% increase in interest rates, you lose 10% of your purchasing power? In the end, it's all about your monthly payment in relation to price, and this statistic will not help buyers in 2014. If you're a seller this, should concern you as well, because that means you could potentially lose 10% of potential buyers as well, as they may no longer be able to afford your home or even want to afford it. If you're thinking about listing your home for sale, this may be your window of opportunity.
Find out what's happening in Brookhavenwith free, real-time updates from Patch.
Early this summer, we were sitting at about 3.25% for a 30 year loan with good credit. By the end of the summer, we were sitting around 4.5% on a good day. Things are moving y'all. The market is not going to wait for you, so don't wait for it!
Call me at 404-518-1368 for more questions on buying and selling in Brookhaven and any other in-town Atlanta neighborhood.
