Fran... I have a question here. Sure, the rates are a little higher now.... but how can you say that the payments are lower? In my opinion, home prices are still high. You used a scenario from 2005...  but each area in the United states is different. Even in some areas, the prices are still higher than last year. This example is too general in my opinion.

Jeff, thanks for responding.

I posted it under:

Kansas City Market Reports

 

Consumers...Are you thinking the interest rates are too high? Not hardly... - November 07:24 PM Are you of the mind set that the interest rates are too high?  Perhaps the information below will help... Folks these ARE the good ole' days.                                                          October 2005                          October 2006 Interest Rate                                       5.75%                                    6.37% Sales Price                                          $200,000.00                           $185,000.00 Down Payment                                      $40,000.00                             $37,000.00 Loan Amount                                      $160,000.00                           $148,000.00 Monthly P & I                                             $933.72                               $923.30   There it is in black and white...... now IS the time ... (1 comments) Kansas City..........don't know where you are located (I haven't looked) Sorry if it confused you or anyone else. Thanks and have a WONDERFUL evening. :)

Fran,

Great example.  Thanks for sharing.

Fran ~ rates are not that high.  Now is an excellent time to buy.  There's lot's to choose from...

kk

Hey, my toothpaste doesn't come out of the tube like that!

Fran,

 

I like your apporach.

I,m glad I've not invested in KC.

 

Bill

 

William J Archambault Jr

The Real Estate Investment Institute

http://www.reii.org