Sunday, December 14, 2008

Low interest rates

I have been getting e-mails from builders and lenders advertising ridiculously low interest rates. I have received interest rates as low as 4.75% for a 30 year fixed, and some even giving added incentives of lowering the rate to 2.75% for the first year, 3.75% for the 2nd year, and a fixed rate of 4.75% thereafter. With the home prices and interest rates down to historic low levels, it looks like a great time to buy... but with all the gloom and doom in the economy, who knows which way the wind will blow? However, there are some comforting thoughts for the Atlanta market; Atlanta has maintained reasonably low housing prices as compared to those of the bubble states such as Arizona, California and Florida. According to the's list of companies for 2008, Georgia is home to 26 of the Fortune 1000 companies, of which 21 are in the greater Atlanta area. Georgia is also home to 12 of the Fortune 500 companies. However, these are uncertain times, and buyers must exercise caution to only get into a home they can afford, not necessarily one they dream about.

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