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Home prices are rising & interest rates are rising, but we don’t need to freak out!

Housing Market Post

Home prices are still high, and interest rates are rising, but we don’t need to freak out! It’s important to keep everything in PERSPECTIVE. When you do, you realize that you can STILL  buy or sell, even if the market is changing!

What to say! Or point out! Let’s get people talking!

Most people are thing, “home prices and interest rates are up. I’m just going to wait it out until something cools off. Let’s talk about why if you want or need to move the next five years now is the time to make it happen.

While interest rates are going up, they are still trending average for the last two decades.  Keeping this in perspective can help guide you through a decision that will likely last you at least the next five to ten years. Right now, interest rates were at Historic lows, although these rated have increased from what we have seen over the last few years, they are still low are likely to be here in the next several years. And, of course, you can always refinance when rates go down.

Because of years between 2008 – 2009, people associate the recession with massively decrease in prices. But remember that recession literally caused that mortgage-backed securities, so the housing market had to take a hit. This upcoming recession won’t be caused by that so we can’t expect the same outcome, the more likely outcome is that home prices will take a small hit to adjust to the market conditions, some may slowly rise, or they flatten out. But it’s not expected that we’ll see a massive decrease in housing prices, that price correction in pricing to reflect a truer market value.

If you’re renting your interest rate is 100% that’s right if you’re renting, you’re paying someone else’s mortgage principle in building someone else’s Equity.  You won’t ever see that money coming back. So even if interest rates rise to 15 Percent (not expected), you will still be coming out of head the big way taken altogether Rising interest rates shouldn’t be a huge deterrent factor when it comes to buying a house especially if you’re currently renting.  Plus, there are many programs available from Rent-to-own, builder incentives or down payment assistance programs!

And if you’re looking to sell, selling before rates rise to much could help keep the pool of buyers large, and allow you to net more for your home. That extra cash could potentially offset the rising rates you turn around to buy.

Obviously, each situation is completely unique and depends on several factors. So, reach out and let’s chat about your situation and I’ll help guide you to making right decisions.  Talk to you soon!

John Warner

John Warner

I am a Real Estate professional and understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why I provide exceptional, personalized service for all my clients. I take great pride on the relationships I build and always work relentlessly on the client’s behalf to help them achieve their real estate goals. In my role as a Realtor® Consultant, I will listen to your requirements and develop a plan of action based on your time frame and needs. I have experience selling new construction homes, single-family homes, duplexes/villas, multi-family homes, (pre-foreclosure) short-sale homes, investment properties, and First-Time home buyers! As a Realtor, I will consult and provide market evaluations of any of your Real Estate inquiries. I will utilize social media & Internet Marketing to find your next property and sell to gain the most exposure. Working as a team, we can achieve your goals, and working together will make the process as seamless as possible. As a Realtor, I will successfully guide you as a home buyer or seller through selling and purchasing properties. Here are a few items that I will be performing as your Realtor to keep you in compliance with laws and regulations. Generate lists of properties compatible with buyers' needs and financial resources. Coordinate appointments to show homes to you as a prospective buyer or arrange appointments to show your home as the seller. To establish a positive flow of communication with other agents, buyers, sellers, mortgage officers, title personnel, and attorneys involved in the home buying and selling process. Present purchase offers to sellers for consideration and negotiates contracts on your behalf. Coordinated property closings, overseeing the signing of documents and disbursement of funds with the Closing agent. Over the last ten years, I have continued to learn with each transaction and professional education training through the National Realtor Association and our local Greater Tampa Realtor association to give you the best service! I know the following designations or certifications: ABR® The Accredited Buyer's Representative (ABR®) designation is for real estate buyer agents who focus on working directly with buyer-clients at every stage of the home-buying process. AHWD At Home With Diversity® (AHWD) is a NAR certification program designed to present a picture of the changing face of the real estate industry. Since 1998, the At Home With Diversity® program has prepared over 20,000 REALTORS® to work effectively with and within today's increasingly diverse pool of homebuyers. GRI Earning the Graduate, REALTOR® Institute (GRI) designation is a way to stand out to prospective home buyers and sellers as a REALTOR® who has gained in-depth market knowledge, increased proficiency in a broad array of subjects to enhance professionalism and business success. MRP The Military Relocation Professional (MRP) certification is for real estate professionals working with current and former military service members. SFR The Short Sales and Foreclosure Resource (SFR®) certification are for REALTORS® who want to hone the skills that will allow them to help buyers and sellers of distressed properties. SRES The Seniors Real Estate Specialist® (SRES®) designation is for REALTORS® who want to be able to meet the special needs of maturing Americans (Active Adults) when selling, buying, relocating, or refinancing residential or investment properties. SRS The Seller Representative Specialist (SRS) designation is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. Staying up to date with the most current information available and earning my Commitment to Excellence (C2EX) from the National Association of REALTORS® empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. It's not a course, class, or designation—it's an Endorsement that REALTORS® Earned can promote when serving clients and other REALTORS®. I love to explore new restaurants and communities in the area. Since I have moved here from Grand Island, NY, the growth in the Tampa Bay area has simply been amazing and truly named correctly as the Sunshine State. I look forward to working with you as your Realtor® in the Tampa Bay area. I support several local charities.