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Jody Sayler, REALTOR®, real estate agent and broker for Gold Canyon, Mesa and Superstition Mountain Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Financing Your Home >When Interest Rates Rise

Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Real Estate Trivia
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What is considered the primary factor distinguishing buyers of prestigious properties from the average home buyer?

A 
Financing doesn't worry these buyers; they often put down 40 percent or more or pay cash for a property
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Jody Sayler, REALTOR®, real estate agent and broker for Gold Canyon, Mesa and Superstition Mountain Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

Jody Sayler
Just Selling AZ

6499 S Kings Ranch Rd #3
Gold Canyon, AZ 85118
Office: 480-983-3606
FAX: 800-605-3858
Email: Jody@RealEstatewithJody.com

If you are considering buying or selling your home in the East Valley communities of Mesa, Apache Junction, Queen Creek, or Gold Canyon, call me for all your real estate needs. My goal is to help you sell or obtain your dream home nestled near the majestic Superstition Mountains. Call me to visit some of the most beautiful homes and views that southwest AZ has to offer - all within a 5-30 minute drive to some of the most exquisite golf courses that AZ has to offer, including Mountain Brook Golf Club, Gold Canyon Golf Resort, and Superstition Mountain Golf and Country Club

MLS


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