Interest Rates vs Home Prices

Upcoming Free (& non-promotional) Home Buyer Classes: 

Please remember that, currently, ALL classes are being held virtually.  We look forward to teaching at the community centers again, once they open. 

 For the virtual classes, they are TWO hours long, and will start at the scheduled starting time.  Please email for class link

Saturday, November 7th, from 9am-11am (ish)
Thursday, November 12th, from 5pm – 7pm (ish)
Saturday, November 21st, from 11am-1pm (ish)

..Home Seller Classes are also virtual right now, and again TWO hours long.  Classes will start at scheduled time.  Please email for link & Password
Tuesday, November 3rd, from 5:30pm-8pm
Saturday, November 14th, from 9am-11:30am
Thursday, November 19th, from 5:30pm-8pm

 Happy Holiday Season!
  In case you didn’t already know, 103.3 has switched to Holiday music!  Early this year?  Maybe, but why not?  I think we all need a little Christmas right now, don’t you?  
  It has certainly been a crazy year, hasn’t it?  I haven’t been doing many of these written blogs because I have been doing video blogs.  On one hand, they are easier, but on the other hand… it is really difficult to keep them about 6-8 minutes at the most.  Wow, I do like to explain things, don’t I?  LOL… so anyhow, go to the website, and go to the blog page…. you will find written, and video blogs that are there to help you, I hope.  As always, any questions?  You know how to get ahold of me.  
  The market, as you might have heard, is crazy… seriously, this is usually the slowest time of the year for home buying/selling and it is not showing signs of slowing down…yet.  Maybe that has something to do with the election?  Maybe not?  I don’t know.  I do know that this year has not been normal in any sense of the word, so why should the real estate market be any different?  So, let’s be honest…prices are crazy… I agree, but it is due to the interest rates being so low and the low supply of homes on the market.There is only 869 homes on the market. If no more homes were to come on the market, and at the current rate of sale, we would have zero homes available for sale in less than a month! I have never seen that in my 16+ years as a Realtor. This is why builders are are building like crazy because there simply is nothing out there. It costs more to build a home right now than it does to buy an already existing home too because land costs, labor costs, and OMG…material costs have skyrocketed. The cost of trusses went up 30% last quarter.These are all signs of inflation coming.But…and here’s the pickle… let’s say prices drop $50,000 for homes, but interest rates go up only 2%…the mortgage will actually be about $200 a month MORE.  Why?  because of that interest rate increase.  Now, again, I know I have said it before, but there is no crystal ball, the magic wand is on the fritz, and the magic 8ball is a freaking liar… no one knows what is going to happen.  All we know is what is forecasted.  Interest rates are forecasted to go up, and this will bring prices down, but.. that doesn’t mean that the mortgage payment will be less.  In 2017, I sold my old house.  I had a $200,000 loan on that home at 5.5% interest rate.  The family that purchased it bought it at $286,000, with a 3.25% interest rate.  Their mortgage payment was seriously only $53.29 more a month than my mortgage payment was.  Crazy, isn’t it?  That same home is now worth $350,000!!!  To me…. that really is crazy.  I originally purchased that home in 2001, with a 6.875% interest rate.  Now, don’t choke… that was a FABULOUS rate in 2001!   We were under 7%!   We totally did a happy dance with that great rate!  Now…isn’t that crazy??   What I am getting at here is that home prices and interest rates are fluctuating.  Prices do seem high right now, but that also has a lot to do with the incredibly low interest rates.  

Honestly, the best time to buy a home is when you are ready to do so, and I am always here to help. If you, or anyone you know is thinking about selling….well, it is a very strong sellers market.  
    As always….this is just a quick overview…. again…and I can’t say this enough…please remember that your agent is NOT a salesperson, and should not be acting like one.  Real Estate is not really about houses, it is about relationships.  Your agent, and your lender work for YOU.  You drive the bus…we are merely GPS to help you get to your goals.  Like the classes, this weekly blog email is to help you with your home adventure.  The goal is to be informative and non-promotional.  🙂  We are, however, hoping you will call and want us to help with your adventure.   If you have any questions about this, or something you have heard…or if you would like me to help you with your home adventure, please call, email,  text, or facebook me anytime.  I am, as always, happy to help! Thank you again for your business and your referrals!!  …and thank you for referring these classes to your friends, family, and co-workers.   .   ..disclaimer…if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings…  Informationis power,  and as always…May the odds be ever in your favor out there….  If you are looking for a real estate agent, I would love to be able to help you.  If you have any questions, or comments please get a hold of me anytime.  You can call, text, email, or even facebook me.  Please remember that while I mean these emails/blogs to be helpful, and educational, I am still hoping that you will call, or email me as I would be honored to help you with your home buying, or home selling adventure.    Upcoming Topics:
What if I don’t have a Down Payment?
How do I hire a Realtor, & do I have to sign anything?

 Last Month:  COVID & buying or selling a home  Have a great day, and I will talk to you soon, 
Tracie DeMars 
Real Estate broker 
Re/Max – Van Mall 
360/ 903-3504 cell 
360/ 882-3600 fax

“Interested in free and non promotional home education classes?  Go to or for local upcoming home BUYER and home SELLER classes, or facebook: Tracie DeMars Real Estate for my home buyer education blog.”

“Listen to the mustn’ts, child. Listen to the don’ts. Listen to the shouldn’ts, the impossibles, the won’ts. Listen to the never haves, then listen close to me… Anything can happen, child. Anything can be.” 
   – Shel Silverstein, American poet, cartoonist and composer, (1930 – 1999).