On My Soapbox Today

by: Cindy Adkins, Realtor

Ok so if you follow the posts I am putting up today, you will see that I am totally on my soapbox.

This government can't tell up from down, left from right and who knows what other direction they may try to go.

I sell real estate daily and therefore follow all the trends and complete my education. I work for the public, yes "YOU". I strive to be educated so that you have the best source behind you. Well in real estate we have to move property therefore, selling for sellers and finding buyers good deals.
With the most recent decision to raise the debt ceiling, do you even have a clue what that does to real estate?? Let me tell you what it does...
The interest rates will rise in order to "recover" money to pay the national debt (so when did this become America's "fault"???)

So for you the consumer, that 4% interest rate you love and that 7% interest rate you say is just way to high. Let me give you an eye opener...
Back in the 80's when I got into real estate, that was the Savings and Loans crash, foreclosures spiked and we all thought the world would end then. Well it didn't.
As a first time homebuyer myself at that time, I was seeing 13% and 18% interest rates on loans for home purchases. Yes people were buying real estate at those rates.
I secured a loan with a 10.5% interest rate, guess what??? That was "LOW" at the time. The seller that had sold me the home had a 18% interest rate.

Wake up America, this is what is going to happen. Less home, less price, but guess what?? Same payment, due to the interest rate. I guess I should have figured it would all recycle back around in my lifetime, but we were all too blind enjoying the spending and credit charging.
Want to buy a home?? Do it now!!! I cannot stress that enough!!

Real estate is the driving force to recovery and unemployment. The less homes on the market, the better your homes value will be. So until the inventory of all homes is reduced across the country, prices will continue to fall. For those sellers who have not "woken up" from 2005 with their home values, let me shake you "W A K E U P"
Get your home out of the marketplace if you are not going to price it to "sell"!!!
Overpriced homes are stinking up our inventory. You are making buyers frustrated when they offer you comparable value to other currently closed homes and you refuse to sell.

Let's hope that today is not the day we start to see interest rates spike like a balloon a small child just released into the air. Who knows where it will stop??

Feel free to send me comments..
Thank you, Cindy Adkins