Tuesday, February 21, 2012

Open Houses Rule

This weekend, despite being at one end or the other of just about every school system's vacation week, was a big one for open houses.  Some had as many as 25 people at them.  The market seems driven by first-time home buyers (proving that they are the one group that probably doesn't need an incentive to want to buy), who want to take advantage of low rates and low prices.  Of course, it is usually their parents who have to let them know how low rates are, since anyone under 35 wouldn't remember high ones.  (Conversely, my husband and I bought our first home in 1982 with an 18.75 % special low rate, that seemed OK to us, given that other mortgages were at 21%---it's all relative!).

Houses are starting to come onto the market at springtime pace, and buyers are out there to take advantage of the rates, the choices, and the weather.  Let's hope it keeps up at this rate!