The Risk is Here, but the Risk is by NOT BUYING!

Federal Reserve Chairman Ben Bernake hinted that tightening is coming to the Federal Reserve Fed funds rate (that's the rate charged to member banks for overnight deposits to meet their reserve requirements). While that doesn't say much to most people, to the MBA that I am, to Money magazine and many others trained in the field, this says that the days of low interest rates are ending and that NOW, more than ever before, is the time to take advantage of the recent fall in the real estate market.

Whether you're in the Charlotte market, as I am, of in any other parts of the country, rising rates mean lower purchasing power. For example, at the recent 5.15% mortgage rate, the median price that is affordable to a homebuyer is $174,900. What if rates rise to just 6%, a rate that was here not very long ago? Purchasing power drops over $15,000 to $159,250.

It is time to get off the fence. I make it a bit more attractive by rebating 20% of the commission RLSTATE.com receives in connection with my client's purchase, but the real benefit is in the $8,000 Federal Tax credit. Already have a home? If you've had one within the past 3 years, that credit is $6,500, but that is still a big chunk of change.

I've made it real easy, too, to find those great Charlotte neighborhoods by posting the listings on sites that match the name. For example, Myers Park properties are at http://www.myersparkproperties.com/, Eastover properties are at http://www.eastoverproperties.com/, Dilworth properties are at http://www.dilworthproperties.com/, etc. The whole list is at my company site, http://www.rlstate.com/.

Looking for a foreclosure? Look no further. Every Carolina county near the Charlotte market is covered, AND FREE, at http://www.CarolinaHouseHunter.com/custom10.shtml.

It's time to get started and Bill Martin is an expert in buyer representation. Remember, too, that the listing agent represents the seller ALWAYS and is required to work in their best interests. There is never a fee by RLSTATE.com for representation.

Bill Martin, Realtor/Broker/MBA
Accredited Buyers Representative
http://www.rlstate.com/

704 554-1100 (office)
704 906-1902 (mobile)