Good evening and happy Independence Day weekend.  This independence weekend felt a little more special as our troops have been returning home all weekend.  Here is your weekly Hinesville – Ft Stewart residential real estate report.  According to the Hinesville MLS in Liberty and Long counties there are 511 residential listings for sale, -3 from last week, of those;

49 are foreclosures +6 from last week

68 are builder properties – 3 from last week

There are 152 pending sales in the market place -1 from last week, of those;

40 are foreclosures -5

52 are builder properties +4

There were 14 closings during the reporting period.

Interest rates are slowly creeping up having risen half a point in the last few weeks.  Here is some food for thought;

$200,000 loan amount at 3.5% for 30 years is $898.09 P&I

$200,000loan amount at 4.0% for 30 years is $954.83 P&I

Which is a $56.74 difference, while that may not seem like much, if you pre qualified at the 3.5% rate and you were purchasing at the top of your debt to income ratio, you may not be qualified any longer.  I have 2 thought here.  1.  Rates are going up, this is a fact, so now is the time to buy!  2.  I have heard on 3 different occasions the last few weeks that deals have fallen apart because of rate increases, this means folks were buying at the top of their debt to income ratio.  If you are in the market for a home start your search below what you are qualified for and work up, locally there are many great homes across all price points, leave yourself some room to afford to live in your home.  Have a great week everyone, remember I can help you with your real estate needs anywhere in the world, just this week I helped some folks buy a new home at Ft Campbell Ky, and they closed this past Tuesday!  So give me a call today and let me show you the way home!