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Real Estate
Eileen M. Day REALTOR
BOTTOM FISHING
They coll it "Bennie's Law.* When interest rates hit a 20-year low and home sales do not rise commensurately, you can bet that the only thing holding down an upward explosion in home sales is consumer confidence. With all that gravity pulling down interest rates, there is only one way for them to erupt: Upward. Once consumer confidence starts to smile, watcK out, because homes will start selling with increasing volume Prices will, naturally increase to follow demand. Interest rates will rise commensurately. In a nutshell, your unusual buying opportunity will be fading away...
When will this scenario start to unfold? Frankly, as soon as banks Unload their real estate inventories and the backlog of homes starts reducing, it will happen. In some areas of the country, it is happening right now. This could be the first indication of the end of a fantastic buyer's market. If you are thinking of buying a new home, now is the time to make that move. If there is anything we can do to help you in the field of real estate, please stop in at EILEEN M. DAY, Realtor, the Clopton House, Washington, Va.. 22747. Phone 675-3033. We’re here to help.
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