While listening to the news today there it was - increasing interest rates and increasing home prices.
Add to that the increasing anxiety among some buyers and you could have a formula for trouble.
The positive direction of the market is a good thing. Prices were depressed for several years and home values are starting to climb and bring some from their underwater situations. Interest rates have been at historical lows for some time. Now the buzz is an anticipation of rising rates. And with increasing interest rates comes the loss of purchasing power.
It was not that long ago I used this graphic in a post to encourage prospective buyers to get off the fence:
I still want to encourage prospective buyers to consider buying.
However, don't get caught up in a bidding war caused by multiple offer situations. In a changing market you remain in charge of your decision.
Know your budget, know your limits....control what you can! And if you are considering buying a home in Florida, call me at 321-693-3850 if I can help in any way.