Bargains will be around for a while for home buyers. There is still a wave of adjustable rate mortgages set to reset this year causing more people to see their mortgage payments rise thus causing some to unfortunately lose their homes in foreclosure or Short Sale situations. When a bank owns a home in foreclosure it is called Real Estate Owned property (REO) and banks don’t want to be in the business of owning real estate. So between Short Sales, REOs, Foreclosures, and desperate Sellers there’s plenty of homes for qualified buyers to choose from.

Also, interest rates are historically low giving buyers buying power. But don’t wait because with inflation that is coming, interest rates are going to rise. Could we see the same 12%-17% horrific mortgage rates that my parents faced in 1980? If our government is not brought under control we could see a lot worse!

Don’t delay. With prices at their lowest since 2003 and interest rates at historical lows, your buying power is the greatest it will ever be. Send me an email rgaschler@hsmove.com or call me at 520.282.1417 to begin the process of buying a home.

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