Do we sound like a broken record?

The interest rates are at historic lows.
The interest rates are at historic lows.
The interest rates are at historic lows.

We have said it before and we are saying it again. But who knew that 30 year mortgages would be at 4.375 and 15 year mortgages at 3.75 at the end of September?

Check out the link below for a fuller picture.

http://news.yahoo.com/s/ap/20100930/ap_on_bi_ge/us_mortgage_rates

And remember: The interest rates are at historic lows.

When you DON'T want to be in the Top 10...

There are lots of times in life when you hope to be in the top ten. This is NOT one of those times.

ABC News has just released the 10 cities in the US with the highest rates of foreclosures. Check it out.

http://abcnews.go.com/Business/top-10-cities-foreclosures/story?id=11692894

Are you in a flooring conundrum?

If so, check out this link from our friends at Realty Times. It tackles the issue of carpet versus hardwood!

http://realtytimes.com/rtpages/20100909_hardwoods.htm

First Offers

Have you ever heard this real estate advice? “You shouldn't take the first offer on your home because higher ones may come along later.”
Believe it or not, that is a myth. Many times, the first offer is often the best that will come along. First offers are usually made by people who have been watching the market and are motivated to buy. They have often studied the market and made the offer accordingly.
The fact is, holding our for higher offers that may never materialize puts your home at risk for sitting on the market... and the longer your home sits on the market, the more "desperate" you'll appear to buyers. In turn, buyers will tend to lower their offers.... which brings us back to the opening point. Better to take the first offer than sit on the market for months, only to take a similar (or worse yet, lower) offer later on.
Of course every house and situation is different, so be sure to consult with your Realtor who is paid to walk you through these types of situations!