Last December, along with most economic forecasters, I predicted mortgage interest rates would be at least 7 percent by the end of the year. We were wrong. However, I am confident that interest rates will rise as we move into the new year. The state of our economy is still fuzzy, which in my opinion means rates will start rising in the months to come.

If you read the newspapers, you know that real estate sales are down, especially for condominium units. Developers who are faced with many unsold units are offering such things as free plasma television sets or free car rentals to lure buyers. However, there are anomalies, especially here in the Washington area. I recently learned of one cooperative apartment that generated five contract offers. That may be unusual in today’s marketplace, but it’s not unique.

To locate the perfect home or condominum, Sarasota FL realtor Annette Smith is available to help you be an informed home buyer or home seller in today’s changing Sarasota real estate market.

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