With mortgage rates hovering between 3 and 5 percent this coming year and Las Vegas will see this as an advantage. These mortgage interest rates are all-time lows and may never be seen again in the housing market. Sometimes it takes a special carrot to make a market move in difficult times and this is indeed a special incentive. The glass is half full.
Of course, many of us have read about all the foreclosures and upside down mortgages in the Las Vegas area. We also know that unemployment is such a huge factor when it comes to selling and buying homes. Even things that don’t seem to impact home sales are indeed factors such as the national debt. Inflation is another factor that weighs in big on the decision to buy a home or the prospect of selling your home. The glass is half empty.
Is the glass half full or is the glass half empty, you might ask. We can’t have it both ways. It is here that you must think and realize that the half-empty factors that have been listed combined with a force called FEAR most often turns these forces into a plus, or an advantage. How so, you ask? Well for starters, if you do qualify for a loan and are hesitant to move, the fear of interest rates going up and inflation on the rise along with uncertainty of tomorrow will push lots of fence riders to take the plunge and buy in what so many consider a once-in-a-lifetime opportunity to lock in a super low interest rate on a home mortgage. In this case as well as other cases that will be mentioned in upcoming blogs, for many the glass just went to almost full.