Don't look now but interest rates have risen for 2 straight weeks and are now at a disgustingly high 4.375%. I have absolutely no idea how anyone will be able to afford to purchase a home at these rates. To make matters worse, the average home price has fallen by over 10 percent in the last 2 years.
How in the world will we ever reconcile this. I know personally that I was waiting for 2% interest rates and at least a 30% drop in home prices, that way I could buy back a home that I sold in 1993 for the same price.
Oh well, I will get over it. I really didn't want to buy a house anyway.
Mike Russell is a REALTOR with Keller Williams Realty. Mike specializes in Johnson County Kansas Homes and Real Estate for sale. Mike is a tech savvy realtor with over 17 years experience. Did you enjoy Mike's Blog? Feel free to subscribe or join Mike on his Social Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...
Mike Russell & Associates can be reached at 913-266-5828 or MRussell@KW.com or www.SearchjocoHomes.com