People savvy to market conditions are snapping up bargain-priced properties.
As recently reported in the LA Times, low prices have been drawing in both first-time buyers and investors looking to “flip” properties for profit.
Potential buyers who are hoping for further price decreases should pay attention to what interest rates can do to their monthly payment. e had quite a jump last week, with FHA Jumbo 30-year fixed moving from 6.375% to 6.750%, for example.