At a recent "Star Power" Real Estate Summit, here in New Jersey, one topic that was agreed upon by myself and my fellow Realtors is that it is our job as Real Estate agents to educate the consumer on what a brilliant time it is to buy a home and turn off the T.V! Enough of the negative press. As of today, November 3, 2007, the current interest rate for a 30 year fixed mortgage (conforming)is 6.273%. That is a great rate! So, where are all the buyers hiding? What are they waiting for? If they are waiting for the prices to drop, or "bottom out" seems to be a common term now a days, do your job as a Realtor an educate them on the amount of money they will save over the period of the loan with a low interest rate, rather than wait for a lower price and a higher rate which will ultimately cost them MORE money.
Dianne Sommers - Realtor