JustinRenaud.com

Be sure to check out the new article I wrote entitled Now is the Time to Buy

The article discusses all of the positives in the market and why buyers should be excited to get out and find their dream home.

Interests rates are still very strong, but have adjusted up in the last week. I saw a 30 year fixed rate as high as 6.35%, but by the end of the week, it seemed like the had dropped to around the 6.15% range.  Make sure you keep watching the rates as they have been very unpredictable and unstable from day to day. Regardless of the instability, though, they are still quite low. 

Right now interest rates in the Rolla, Missouri and St. James, Missouri markets are at an outstanding level. They have slowly been creeping down. Multiple banks in town have posted 30-year fixed rate loans for 5.625%.

These rates mean many things to the consumer. As a homeowner, if you are locked in to an adjustable rate mortgage or a higher fixed rate mortgage, you need to strongly consider refinancing, because there is no telling how long these rates will remain at this level. Historically speaking, there is not too much farther that these rates can drop. There is no guarantee when it comes to this sort of thing (they may go up today as I am typing this, and they may creep down farther), but I can tell you it is defintiely worth taking a hard look at it.

As a potential buyer, there is no better time to get into a home with a great rate. Opportunites abound for homebuyers as our rates are low, there is a large inventory of homes on the market, and this is typically a down time of the year anyway. Combine all of those things and you may be able to really get an outstanding deal for yourself.

The demise of the real estate market is greatly exaggerated right now. In fact the Rolla/ St. James area is actually doing quite well. I wrote an article discussing some of this. One of the things to be encouraged by is the fact that interests rates are VERY strong right now. With the market being saturated by listings, this is an excellent time to be a buyer. Combine a little longer time on market for your average listing, plus great rates, and what you get is a chance to get in a home for less than you have been able to for probably the past 4-5 years.

With that being said, the average sales price for a home has not exactly plummeted in this area. Places on the east and west coast are hurting quite a bit more than your average home owner around Rolla and St. James, MO. Sellers should be encouraged by this quite a bit.

Take some time to search the listings available and see if there is the perfect home waiting for you to make an offer.