We are facing a window of opportunity, but remember, open windows do close.  We know that mortgage interest rates right now are at bargain levels – essentially mortgage money is “on sale”.  With soaring federal debt and deficits, however, does anyone believe these historically low rates are sustainable?  I don’t.  Those low rates are also coupled with a high inventory of listings (great choices) and low prices.  I’ll bet a year from now buyers will look back at June of 2010 and say “THAT was our window of opportunity.  What were we waiting for?”

How can we help you?  You can find a Danberry professional by clicking on “Agents & Offices” above.  If you have mortgage questions, click on “Financing” to find a Home Mortgage Consultant at First Mortgage Consultants, an affiliate of Wells Fargo Home Mortgage.

Some well-meaning people feel that it’s no big deal to bend the rules; they may be tempted to back-date a contract to April 30th in order to qualify for an $8,000 or $6,500 gift from Uncle Sam. Don’t ask a Realtor to participate in that scheme! The Danberry Co. will not. It may seem harmless, after all, what’s a day or two, especially over a weekend when you probably wouldn’t even make a mortgage application? What’s the difference? You would be asking your Realtor to risk losing his or her license. You would be engaging in tax fraud, and the federal government has teeth. You don’t even want to think about the fines and yes, prison time.

So let’s get back to positive topics. Those tax credits may be disappearing, but where does that leave us? It leaves the Toledo real estate market facing terrific conditions! Interest rates remain at historically low levels, despite predictions that they are on the rise. Our listing inventory remains high, meaning great housing choices. Many prices are at the lowest level in years. And now we enter our traditionally strongest spring market. So come on out and join us at a Danberry open house. We’d love to discuss the housing opportunities-Toledo homes for sale and the surrounding market property listings- available to you right now!

But for now let’s forget about that special program and focus on current market conditions in northwest Ohio and southeast Michigan for all buyers.  Our listing inventory is down from the all-time high levels of a year ago, but nevertheless remains high by historic standards.   In just a month, Thanksgiving and the holidays will be upon us, which tends to result in some buyers postponing their house-hunting.  Relatively high inventory, relatively low number of buyers . . . that usually defines a buyers’ market.  In brisk markets simultaneous offers are common, driving prices up.  That is far less common in the 4^th quarter, giving buyers who act now a competitive advantage compared to those who start looking in the spring. 

So, if you are considering buying in the next year, I’d suggest you make that dream come true in the next 3 or 4 months while other buyers are on the sidelines but sellers are lined up to negotiate with you.