A Rare Time

Houses for sale are in short supply, and buyers for houses are abundant.

“We had four offers the first three days on the market,” said one seller. “We were stampeded. Buyers were coming through when I was getting dressed for work in the morning, and when we were eating dinner in the evening. I just told ‘em ‘don’t mind us, make yourselves at home’!”

True, the competition among buyers is tough, but houses are still on sale. Prices are steady- with a small upward crawl.

Houses are on sale and money is on sale, too. Interest rates are lower than your grandparents could get. A low interest rate means a quicker pay-down on your loan; quicker than your grandparents could pay down their loan.

“Our lender showed us the payoff rate on our loan, and we were amazed,” said a buyer. “Because our interest rate is so low, about 30 per cent of our payment goes toward paying down the principal- it’s not all interest. That means we’re gaining equity fast.

The sale on houses and money means people who want to sell and buy higher get a break. The difference between their current loan payment and the loan payment on a new home is smaller than ever before. Big gains for little pain are out there right now.

Houses and money won’t stay on sale for long- not both at the same time anyway. The small upward crawl in house prices will inevitably get up and start walking. Interest rates don’t make a habit of lying low, either. Their natural urge is to head upward. When prices and rates make their move, buyers won’t have it so good. Neither will sellers buying up. Big gains will be more painful.

But right now the sale is on. For buyers it is tough maneuvering through the frenzied crowd, but worth it if you have the bucks. For sellers it couldn’t be better if you plan on buying, too.

It’s a rare time when houses and money are on sale- you might want to look around and see if there is a deal out there for you.