Lower Home Prices Can Offset High Interest Rates

“Hey Joe,
We are getting back to home searching again.

You may recall we had bid on a home outside Springfield at the beginning of the year. The property was listed at $395K and we had offered $420K and didn’t get it. I drove by the property over the weekend and there is a new sign in front. I went online and saw that the property was on the market at $349,900 and have no idea why.

Anyway, we want to go back and look at the property again. If we can get the property at that price, we don’t mind paying the current interest rates.

Appreciate if you can send over a new letter.”

This is the second time I’ve encountered this. Folks that were going to wait for interest rates to come down are now back searching for a new home.

Believe me, I understand that interest rates make a difference regarding the monthly payment.

What I have told many prospective home buyers is to focus on what the monthly payment will be and make sure that is doable. Each and every loan being written at these rates will be refinanced.

Let me know if you want to discuss your options.