So…Let’s think like a bank today. What happens to the market when rates spike… it creates a sense of urgency to buy before the deal of the century is just a story and the lazy refi’ers get off their fence before there is no benefit.
When rates go up who earns more interest on these new loans?…we all know this, the banks do. So why are they waiting to release the remaining REO properties in their portfolio? Simple, nobody wants to sign off on a loss and admit they wrote a bad loan. They want rates higher to create an urgency to buy, with this urgency sale prices gradually spike as more and more people want to get in on the deal. Once these prices balance out and start to show a small light of a returning market, banks will release the rest of their REO’s in order minimize their potential loss. Higher sales prices = less of a loss, and higher rates = more interest earned.
Who’s to blame, they’re a bank and they want stronger returns (basically less loss) just like you, your friends, your mother & father…
All of the potential listing clients out there that want to sell this year but plan to wait a little are going to lose out. Once the banks see a better light, which is always before us, they are going to seize that opportunity to release the REO’s. Now you compete with a home the same size, bed and bath, as yours at 2/3rds the price. Sell right now or get comfortable!
LIST that home TODAY, LISTEN TO YOUR AGENTS SUGGESTIONS and SELL FAST or get COMFORTABLE!
Seller Concessions make it that much easier for the buyer!
Real Estate Agent Advantages/Marketing Have no time, good we’ll do to it all for free!