Monday Morning Blog. Quck read:
Should you buy now or wait until spring? I recommend NOT waiting.
The weekly Fed Funds Watch just came out Friday 10.12 with predictions for an additional rate increase at upcoming meetings.
Here are the results for the scheduled Fed meeting dates
November 8 2% chance of increase (the oil embargo takes effect Nov 4, the midterms are Nov 6)
December 19 80% chance of increase
January 30 25% chance of additional bump
THE POINT: iF You or your loved ones wait until Spring to shop for a house, you will be looking at
1. at least 1/2 and just as likely 3/4 a point higher interest rates.
2. Re-sale prices that will be steady to increasing.
The ONLY "deal" this fall is either
a. NEW homes, not resales
b. Small shopping centers or warehouse buildings
I have found superb deals on a. and b.
Call me, or please forward this email to someone who will appreciate it!
Cam Collins MBA
Instant FREE market analysis!