Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Shauna Hooker
Realty Executives
8662 E. Via De La Escuela
Scottsdale, AZ. 85258
Phone: 480-368-5520
Fax: 480-607-3319
Email: shaunahooker@NUMBER1EXPERT.com

Contact me with confidence! AND... Please be assured that I offer the services on my site for free and without obligation. Why? I want to be YOUR real estate agent. As your trusted, professional real estate partner, I will help you find the best home in Scottsdale Arizona or the surrounding area within your price range. I specialize in Scottsdale and Paradise Valley, and have assisted buyers and sellers with many home transactions in McCormick Ranch, Gainey Ranch, Grayhawk, Troon North, Cave Creek, Scottsdale Mountain, Scottsdale Ranch, Ancala and more. My clients' needs always come first and I am dedicated to making your real estate experience both successful and enjoyable. Please call me and let's find your great Scottsdale or Paradise Valley home.