They are lying in wait … from a client yesterday with whom I have been working for several months:
“I are going to be out of the housing market for a while. We’ve just decided that with interest rates going up, the market changing and the bank not getting the monthly payments to where we’d like them…..it’s just in our best interest to wait right now. I know the market’s beginning to change as the article in the Daily (Progress) said yesterday (no longer available). And, we’ve seen it ourselves with 817 and 824 Harris still on the market. But we’re going to hold off for now. We’ll have more money saved for a down payment and hopefully prices will be down even more with the interest rates going up.”
So, I will sell them something next year (or the year after …) This is a long-term business that necessitates a long-term frame of mind. People are returning to buying houses with that mindset, which qualifies as “a good thing.”
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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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