HOUSE HUNT ROCKLAND COUNTY July 21st

IS IT STILL A GOOD TIME TO BUY?

The lazy days of summer may be here, but the real estate industry is busier than ever. According to the National Association of Realtors(NAR), pending home sales in May were the highest in six years. With the spring rush, real estate sales professionals have worked overtime with homes going under agreement in a matter of days, and deals entering into serious bidding wars.

For homebuyers who didn’t find their dream home in the spring, the time is still ripe for those who want to purchase a home. While interest rates are rising, they are still holding at all-time record lows providing homebuyers an opportunity to get in the market.

It has been speculated by industry watchers that interest rates will climb as the economy recovers. Even the slightest bump in interest rates can price a buyer out of their dream home. The key message here is don’t wait, or you could miss your opportunity.

Inventory still remains tight in most areas ensuring that we’ll most likely experience a seller’s market throughout the summer months. Home sellers who missed the early spring rush won’t be making a mistake putting their home on the market now. New home buyers are still anxious to take advantage of lower interest rates and move into their new home before school starts in September.

For potential home sellers concerned about lack of equity, contact Me and I will run the numbers for you. You may just find that you can in fact make your move.Overall, there are opportunities to be had for both buyers and sellers.

 Hello my name is Michael Rizzuto and I’m a licensed real estate agent with Coldwell Banker- Regional Sales Office in New City, NY. This column will list the open houses for the upcoming weekend and give the current housing market statistics for Rockland County. If you have any real estate questions, please feel free to Email me at: Michael.Rizzuto@cbmoves.com