Risky Buying, Selling, and Interest Rates in Albany

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We have two topics on the agenda today: risk with interest rates and risk in buying and selling.

We’re likely to experience an increase of interest rates after the Fed meets this month. Although mortgage rates won’t move up dramatically, they will steadily increase with time in increments. That’s why it’s not a good idea to wait if you’ve been thinking about buying a home.

Recently, a client gave me an old copy of an amortization schedule. We used these thirty years ago. Now, we can pull up this information on our iPhones. Interestingly enough, this book starts with 8% interest rates and goes up to nearly 24%. Today, rates sit just under 4% for a thirty-year fixed mortgage on average. Today’s average is half of what this old book begins with!

As rates increase, stay calm and hold on. Compared to what we’ve seen, it’s not going to be too bad, but it’s important to stay aware of what’s going on. Historically, rates will remain low.

Secondly, you may have noticed these Certified Home signs on our properties. A certified home has been inspected, staged, priced by an appraiser, and warrantied ahead of time. This certification lowers the buyer’s risk. It makes your home immediately more attractive and adds curb appeal.

By chance, if you come across a home that doesn’t have this certification, talk to us. We might be able to add a warranty to that home. As real estate experts, this is one of many services we can provide for you.


If you’re thinking about buying or selling a home, give me a call or email at your earliest convenience. We’re happy to serve you!