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So, I try to make this email lighthearted and full of fun, interesting events and news and I try not to bore everyone with statistics and numbers and other realtor mumbo jumbo that no one really understands. It just gets overwhelming and at the end of the day the numbers don't matter as much as they are made out to because everyone's situation is different.
But anyway, I thought this was something really important to share. And I only decided to share it because I am hearing this same prediction from numerous sources. In the chart above, you will see the projected interest rates for the next 2 years. Now if you're like me, when you start hearing about "interest rates" your brain just kind of goes numb because it's overwhelming and confusing. But the reason I shared this chart is because it breaks down exactly what the interest rate means to us, to everyday people.
The most important numbers are obviously those circled in red. These are your monthly payments based on the projected interest rates (notice the rates are projected to rise the next two years). It's pretty clear now what that interest rate means to you, right? Because who wants to spend an additional $300+ on monthly mortgage payments??
Well, that is exactly what you're going to do if you wait. If you're that person that's saying, "prices are way too high, I'm waiting for the crash before I buy!" Well, you're going to be waiting a long while. Barring any crazy, out of left field, 2020 Global pandemic-outbreak-like scenarios, prices are not going to crash. It's another word we like to hear all the time (meaning I'm sure everyone is sick of hearing already), inflation! And it's here to stay folks. Too many dollars chasing too few houses. Plain and simple.
So, I hope I haven't bored anyone too much. I just thought this was important to share. Hopefully it will help open some people's minds to get away from the "waiting for the crash" mentality. If it has, and you're ready to even just start exploring the process, make me your first call. I can set you up with great lender's that can get you approved usually in less than a week and approve you despite when some other banks won't. And of course, there are a TON of totally FREE, ZERO obligation resources to check out below.
Best wishes,
Zach Burnham, Your REAL VALUE Realtor
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