In my 15 + years in Real Estate i have seen the interest rate as high as 10 to 15% & the Buyers still purchasing. I know no that people have been worried about job security but if your credit score is good and you can afford it, it is a good time to buy. People still seem to want to own their own homes.
The National Association of Realtors (NAR) are backing a bill to EXTEND & INCREASE the dollar amount that will help Buyers with the down payment.
Thing that I find most important to Buyers is before you start to look at homes, go to the Bank and have the person in charge of Mortgage Loans and have them qualify you. This way you will be looking at home in your price range and won’t be viewing homes you can’t afford. Also, you will when you do find the home that is right for you, you and make an Offer To Purchase. This really effects the way a Seller looks at the presented offer.
I like making both Buyer and Seller feel like they have entered into an agreement of a “Win/Win” situation.
After All: THAT’S MY JOB AND MY GOAL” AND HELPS ME SO THAT THEY ARE HAPPY ENOUGH TO RECOMMEND ME TO OTHERS.