The U.S. Federal Reserve chair Janet Yellen announced the first interest rate hike in nearly a decade this week, bringing the near-zero interest rate to .25%.
This small but notable increase signals the start of what Federal Reserve officials and economists alike predict will be a series of interest rate increases over the coming months and years.
On one hand, an interest rate hike is positive in that it signals that the economy has returned to its pre-crash condition. But on the other hand, it means that anyone seeking a mortgage or refinancing a home loan will pay a bit more in interest.
Over the past few years, home buyers and investors who’ve used financing to grow their investment portfolio have seen ideal conditions with interest rates close to zero.
Today, you can expect to pay a bit more, but comparatively, interest rates are still very low. With additional rate hikes forecasted for the not so distant future, now is an ideal time to lock in a fixed rate mortgage or other loan.
What’s more, as the economy continues to improve the volume of available short sales, REOs and foreclosure properties — real estate opportunities that often bring profitable opportunities to investors — tend to become more scarce. So that’s yet another reason why now is an ideal time for real estate investors to take action if they’re in a position to do so.
There are a number of unique steps and processes involved when going through a short sale instead of a traditional real estate transaction. You’ll have lots of advantages in this regard when you work with a short sale expert like Kristine Zelazo, better known as The Short Sale Gal.
If you’re seeking to sell your home as-is to an investor or wish to pursue a short sale transaction for the sale of your property, turn to Kristine Zelazo, the Short Sale Gal!
To get started, simply complete the home pre-sale form to provide Kristine with additional information on the property in question. Questions? Call 800.664.0616, x802.