TOPOS & TALK#_25 Interest Rates F*CK*D Me Too

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Welcome to today's Cloud Based Real Estate Brokerage TOPOS & TALK #25 - I have so many things going through my head every day about Real Estate that I just want to get it all out. I get asked so many questions about real estate every day. And, coach so many agents that it's time to answer all of those in depth questions while I sip on my Topo Chico.

In today’s episode I do a deep dive into Interest Rates F*CK*D Me Too. When interest rates increase, it affects the ways that consumers and businesses can access credit and plan their finances. About a couple months ago I started the process of getting ready to buy another house and I got pre-approved for my loan. My rate at that point in time was about 4.5% And about a month ago I went under contract on a house and interest rates had gone up to 5.35% and the deal ended up terminating and it wasn't anything except for the sheer fact the offer came in 30 or the appraisal came in 30 grand underneath appraised value. And the seller wasn't willing to budge, while I was willing to concede my entire commission. The market is dramatically shifting up in the market. I had found another listed house at 7.20%. And it had gone under contract once the buyers terminated. So I'm like, huh? I wonder what's up here. I typically use agents that I like working with, but sadly, in certain markets you just have to go take care of business yourself and in this situation I wanted to have my own license to take care of this purchase because I didn't really have an agent that I really felt could handle my situation the right way and I felt more comfortable doing it myself. It's just a tricky situation. There's more to hear on this long episode, and I know you will get connected to this.

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TOPOS & TALK#_25 Interest Rates FCKD Me Too

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