Quote:
Originally Posted by DJ's left nut
The AVs aren't taking into account interest rates impacts on the housing market.
A FMV that's using sales from 9+ months ago is WAY out of date already. The cost of money has gone up a ton since then and it's reflecting in how much people will (or even CAN) pay for a home.
We were looking at upgrading for a few years but now I'm gonna hold onto that 2.25% mortgage like grim death and if need be I'll take out a HELOC for an addition or something.
I can't justify moving and tacking 5% onto my interest rate, even if I can afford more house than I presently have - it doesn't make a lick of financial sense.
And there are a lot of people like me out there.
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Same story here. I've got a 3.5% rate and the wife and I are refusing to move until it goes back down.