Uncle Ben Bernanke speaks and...

Uncle #BenBernanke (the Fed) spoke again Tuesday and he said to keep the #bondbuying at full steam! This is horrible news for home sellers because it put #homebuyers in the drivers seat. And it is horrible news for our long term economy as it is digging our debt hole even deeper, which results in #hyperinflation.

What to expect is #mortgage interest rates should continue to slide down. Add that to human emotion (not common sense) and buyers will hold out waiting for the bottom which reduces the demand. With home purchasing demand down, inventories of existing and new homes will rise. So, expect home prices to slide too.

*Now Listen to me!!!!!!!  Call me Paul Revere as long as you will listen.
Common sense says... Need a home? Buy a home now. Prices are low and it's a buyers market! Interest rates are low too! So, buy now!

If you are planning on #buyingahome and you are thinking you'll wait for the bottom. Don't!! It will change without warning and you won't have time to grab it. Home prices and interest rates are in a dip. The last dip before the rocket launches!!! Last March and April was a sample of what to expect. Rates jumped 1% and house prices jumped 10% and in less than 30 days!

If you are financing this home purchase, do it now! Rates could drop a quarter of a percent, but when the bond buying stops, and it will, the rates will jump by at least a half percent or more then climb until you can't afford a home. You'll be talking about the home you could have bought, because you thought you could beat the odds of about 27,600,000 to 1!

This is what you are risking by holding out.
$250k mortgage at current rate is $1244 mo
$250k mortgage at current rate minus 1/4% $1208 mo (gambling by waiting for the bottom)
$250k mortgage at current rate plus 1/2% $1356 mo (gambling 1 day too long)
This is not considering the 10% price increase we also saw. If history repeats itself, it would look more like this..
$275k mortgage at current rate plus 1/2% $1493!
So you are gambling to save $36 month at the risk of loosing $249 month! Over 30 years, that's only an $89,640 mistake!
It's not gambling, it's #Russianroulette!!

If you are paying cash for a home, do it now! It's still a buyers market.

Whether your are paying cash or financing, now is the time. Stop playing Russian Roulette!!
Call me now and let's get to work!

Thank you
#CurtisRudolphRealtor®
813.240.6054 cell/text
http://CurtisRudolphRealtor.com/
https://www.facebook.com/SouthTampaLuxuryProperties
http://curtisrudolphrealtor.blogspot.com/
Realty Direct Tampa

*Note: Do not buy because I said so. Always consult a financial adviser when considering real estate as an investment. We live in an imperfect world, where do-do happens.