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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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Mark Jacoby Group
Coldwell Banker Select Professionals
1000 North Prince Street
Lancaster, PA 17603
Main Phone: 717-735-6290
Fax: 717-735-2207
Mark@JacobyGroup.com
MarkJacoby@NUMBER1EXPERT.com

We will provide the best service possible for every client we represent. We will never tell a client what they want to hear - if it is not reality. We will never enter into a client relationship where we know what is expected of us cannot be done in good faith. We will never enter into an agreement with a seller who is unrealistic with regard to proper pricing. When hired to sell a client's home, we will always make the recommendations that can assist their home's value or help reduce its marketing time even if it means telling them things they do not want to hear. We acknowledge that we may periodically lose business because we are truthful with our clients while a few of our competitors may tell them what they want to hear to temporarily get their business. We will always remember that to have a winning relationship with our clients, we must always have a mutual goal. We will never lose sight that our honesty, loyalty, understanding, accountability, and creativity are what makes us so very different from the real estate masses. Our services will always be made available to the public. We will always utilize a well trained staff to assist us in the complex home selling process. We will prioritize our time so that we are working only with people who are serious about either buying or selling real estate. We will always treat all parties honestly and fairly and will always offer our properties without regard to race, creed, religion, sex, ancestry, national origin, handicap, or family status. We will always promote the best interests of the owner. We will strive to obtain the best price for our owners, and we will always disclose to our owners all facts that might affect or influence their decisions. We assure you that during our real estate careers we will always strive for excellence, and we make a commitment to continued education so that we may better serve our clients. We look forward to Serving You! The Mark Jacoby Group

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