What’s It’s Going To Take To Keep Sun Valley Great?February 17, 2011
The Future of Real Estate MarketingMarch 2, 2011
It is becoming more and more evident, both with Sun Valley properties as well as with national real estate, that we have hit “the bottom of the market.” This is what everyone has been asking about. Wondering if we are there there yet?
So if we are there and even if we aren’t quite there yet, we need to stop and consider other factors that make up a deal. Interest rates, for example.
Interest rates on properties are at an all time low. So if a buyer continues to wait around for the bottom, and interest rates increase, he could be shooting himself in the foot. In other words, rates are as important in a deal as price.
For example, if you wait and hope for a seller to drop his price from $700,000 to $650,000 and rates increased 1 point in that time period, you could end up hurting yourself more than helping. Something to think about.