Jim Hess

Real Estate is a highly local business. In our area, Madison WI, it is an excellent time to buy. Our market is insulated from many national economic ups and downs and remains relatively stable. Low rates+adjusted sales prices+first time home buyer credit=buy. Guru-Although rates are very attractive now, the picture may be quite different as we head towards the summer. Oil prices may be on the rise as we approach the summer driving season, some of the economic stimulus might begin to take hold, corporate cost-cutting measures could start to bear fruit, and the big enchilada...the Fed will no longer be a buyer of Mortgage Bonds. These are all ingredients in a recipe that will undoubtedly result in significantly higher interest rates this summer. Be sure to explain this to your potential refinance and purchase clients - this wonderful opportunity at hand will not last forever. - Fri Jan 23, 2009