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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June Seebohm
Keller Williams Realty, Hilton Head Island, SC
8 Lafayette Place
Hilton Head Island, SC. 29926
843-290-2929
843-682-8111
Fax: 843-681-3342
Email: June@AlwaysJune.com

June offers you a degree of personalized service rarely found among Realtors. Through a unique combination of devotion, compassion and good, old-fashioned hard work June has established an excellent reputation among, not only her clients but her peers as well. June is originally from Northern Ireland and has moved many times in the UK and US so she understand very well the kind of stress involved in residential sales and purchase. It's often an intense time of transition for all involved. Also her personal knowledge of building new homes and renovating homes is invaluable. Her high-tech office and staff allow immediate response to phone calls, emails and faxes. She is always "on the other end" of her cell phone. Please call her any time.