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November 17, 2011

                                           If Not Now…When!!!

Greetings,

Interest rates affect the outcomes anticipated by buyers and sellers alike each and every day. This chart represents that interest rate history for the last 30 years. When I became a full time Realtor in 1984, all of my colleagues who had been selling for years were ecstatic at the 13.5% interest rates. That was a huge improvement from rates above 18% that many of their clients had experienced.

In 1984 if you had $2000 to spend for your monthly principle and interest payment, you could afford a $174,000 loan amount at 13.5%. In 1994 that same payment would afford you a $263,000 loan amount. And today, that same payment would afford you a $406,000 loan amount.   

Timing is everything, and we have not experienced a better interest rate environment in the last 30 years. (please let me know if you would like to see a copy of the graph from the last 30 years) That, coupled with the decrease in home values in many areas, should really bolster your buying power.                                                

As a real estate agent active in your neighborhood for over 27 years, I can offer you the specialized knowledge and experience gained by working with properties like yours and people like you.

You can find answers to your real estate questions or search for any home on the market by any real estate firm in the greater Puget Sound Region at my web sites:     www.MichaelPeters.net / www.Lake-Forest-Park.com  / www.cooltownhomes.com      

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